| Title: | The relationship between oil prices and stock prices of the European renewable energy companies : a vector autoregressive analysis |
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| Authors: | ID Slatina, Enis (Author)
ID Lazović-Pita, Lejla (Author)
ID Abdić, Ademir (Author)
ID Abdić, Adem (Author) |
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| Files: |  https://journals.um.si/index.php/oe/article/view/3388
https://journals.um.si/index.php/oe/article/view/3388
 RAZ_Slatina_Enis_2023.pdf (501,91 KB)
MD5: 95D885B84007BF5B2EC51F0D17FEE582
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| Language: | English |
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| Work type: | Scientific work |
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| Typology: | 1.01 - Original Scientific Article |
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| Organization: | EPF - Faculty of Business and Economics
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| Abstract: | This article aims to examine the potential relationship between Brent crude
oil futures prices and the index of the European renewable energy companies.
After the overview of the European legislation and the most recent literature
review on the topic, the article deploys a method of the Vector Autoregressive
Model (VAR). The analysis includes weekly data over eight years (2015-
2022). Our results indicate a positive correlation between Brent crude oil
futures prices and the value of the European Renewable Energy Total Return
(ERIX) index. The estimated bivariate VAR model indicates a statistically
significant relationship, meaning that past values of the ERIX Index may be
used to predict future Brent crude oil prices in the long run. Considering the
most recent systemic disturbance in the world’s commodity market, future
research should consider longer time series and possible relationships of
other macroeconomic factors. |
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| Keywords: | renewable energy, Brent crude oil, futures prices, ERIX index, VAR |
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| Publication date: | 25.12.2023 |
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| Year of publishing: | 2023 |
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| Number of pages: | str. 1-11 |
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| Numbering: | Vol. 69, no. 4 |
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| PID: | 20.500.12556/DKUM-92947-266edc92-a22f-d432-4969-a4e12a8527c9  |
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| UDC: | 338.5:620.9 |
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| ISSN on article: | 0547-3101 |
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| COBISS.SI-ID: | 181951235 |
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| DOI: | 10.2478/ngoe-2023-0019 |
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| Publication date in DKUM: | 28.05.2025 |
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| Views: | 154 |
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| Downloads: | 6 |
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| Metadata: |    |
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| Categories: | Misc.
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