Show simple item record

dc.contributor.authorFLORI, Andrea
dc.contributor.authorBORGHESI, Simone
dc.contributor.authorMARIN, Giovanni
dc.date.accessioned2024-02-02T08:27:45Z
dc.date.available2024-02-02T08:27:45Z
dc.date.issued2024
dc.identifier.citationEnergy economics, 2024, Vol. 131, Art. 107328, OnlineFirsten
dc.identifier.issn0140-9883
dc.identifier.issn1873-6181
dc.identifier.other107328
dc.identifier.urihttps://hdl.handle.net/1814/76430
dc.descriptionPublished online: 26 January 2024en
dc.description.abstractCap-and-trade schemes are particularly attractive climate mitigation policies as they promote investment in low-carbon technologies while allowing firms to minimise their compliance costs. This can generate a positive relationship between firms’ environmental and financial performance. However, firms with limited financial resources can find cap-and-trade schemes difficult to manage, leading to their under-participation in the allowances market. This paper examines how participation in the EU ETS (measured by network centrality measures) may affect the relationship between environmental and financial performance. A panel quantile regression analysis is performed to account for possible heterogeneous behaviours at different quantiles of the financial performance distribution. The results suggest that lower emission intensity is associated with higher financial performance, and that the higher the firm’s network centrality in selling allowances, the stronger this association is. Moreover, the positive relationship between environmental and financial performance is stronger and clearer at the bottom of the financial performance distribution, thus confirming the importance of accounting for heterogeneous behaviours at different quantiles of the distribution.en
dc.format.mimetypeapplication/pdf
dc.language.isoenen
dc.publisherElsevieren
dc.relation.isversionofEnergy economicsen
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.titleThe environmental-financial performance nexus of EU ETS firms : a quantile regression approachen
dc.typeArticleen
dc.identifier.doi10.1016/j.eneco.2024.107328
dc.identifier.volume131
eui.subscribe.skiptrue
dc.identifier.issue107328
dc.rights.licenseAttribution 4.0 Internationalen
dc.rights.licenseAttribution 4.0 Internationalen


Files associated with this item

Icon

This item appears in the following Collection(s)

Show simple item record

Attribution 4.0 International
Except where otherwise noted, this item's license is described as Attribution 4.0 International