Journal title ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT
Author/s Sahnaz Kocoglu
Publishing Year 2026 Issue 2026/1
Language English Pages 22 P. 45-66 File size 0 KB
DOI 10.3280/epe2026oa22886
DOI is like a bar code for intellectual property: to have more infomation
click here
FrancoAngeli is member of Publishers International Linking Association, Inc (PILA), a not-for-profit association which run the CrossRef service enabling links to and from online scholarly content.
<p>This study aims to elucidate the relation between oil, gas, coal, carbon prices and the clean market index. We adopt a piece-wise linear approach and assume that each piece represents a unique structural mechanism. We utilize an optimization model that endogenously finds cut-off dates on non-stationary data along with the model coefficients for each period. Our findings highlight that the clean market index is positively related to stock market performance and negatively related to carbon and oil prices. The direction of the effects of gas and coal, on the other hand, are found to be alternating among the break periods. Moreover, predictor importance of the factors also changes through the timeline. Empirical evidence indicates that splitting the time series data into pieces according to their distinct structural characteristics improves the prediction performance and it is imperative to better understand the behavior of the renewable energy market. By doing so, we aim to provide insights for policy makers on how to utilize the leverage effect of financial markets to empower renewable energy companies.</p>
Keywords: renewable energy companies;financial markets;carbon prices;fuel prices;structural break;piece-wise linear regression
Sahnaz Kocoglu, The impact of carbon and fossil fuel prices on renewable energy companies’ stock prices: New evidence from piece-wise approach in "ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT" 1/2026, pp 45-66, DOI: 10.3280/epe2026oa22886