Inhibition or inducement? The impact of carbon emissions trading scheme (ETS) on corporate earnings management from the perspective of public pressure

International Review of Financial Analysis, Journal Year: 2025, Volume and Issue: unknown, P. 104019 - 104019

Published: Feb. 1, 2025

Language: Английский

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Has China's carbon emissions trading policy induced energy conservation and emissions reduction in the power sector?

IEEE Transactions on Engineering Management, Journal Year: 2024, Volume and Issue: 71, P. 14326 - 14338

Published: Jan. 1, 2024

Language: Английский

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Climate change and crude oil prices: An interval forecast model with interval-valued textual data

Energy Economics, Journal Year: 2024, Volume and Issue: 134, P. 107612 - 107612

Published: May 14, 2024

Language: Английский

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Weathering market swings: Does climate risk matter for agricultural commodity price predictability?

Journal of commodity markets, Journal Year: 2024, Volume and Issue: 36, P. 100423 - 100423

Published: Aug. 30, 2024

Language: Английский

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Mitigating Climate Policy Shocks Through Mergers and Acquisitions? An Empirical Investigation of International Oil and Gas Firms

Corporate Social Responsibility and Environmental Management, Journal Year: 2025, Volume and Issue: unknown

Published: Jan. 8, 2025

ABSTRACT Climate change and its related policies have significant impacts on energy industries, leading to a considerable number of stranded assets poor financial performance. Using global sample 1147 listed oil gas firms from 2000 2021, this paper investigates whether mergers acquisitions (M&As) mitigate climate policy shocks, focusing the consequential impacts. Taking Paris Agreement as major shock, we first confirm negative performance firms, after which demonstrate M&As can alleviate adverse effects. Mechanism analysis reveals that benefits are stronger in upstream those with better corporate governance sufficient cash flows. Firms countries high‐level economic development carbon risk benefit M&As. Furthermore, conglomerate increased following Agreement, indicating these responded shocks through diversification. These findings help us understand important implications for how sector should respond shocks.

Language: Английский

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Firm Value Impact of Global Oil and Gas Mergers and Acquisitions: The Role of Environmental Policy Framework

The Energy Journal, Journal Year: 2025, Volume and Issue: unknown

Published: Jan. 11, 2025

The oil and gas (O&G) industry is under increasing pressure to decarbonize adopt sustainable practices. While some firms are transitioning toward renewable energy, many continue expand their traditional O&G operations. This study examines how financial markets perceive the value creation potential of business-as-usual mergers acquisitions (M&As) by world’s largest companies from 2000 2021. Using an event methodology, we focus on role home-country environmental policy stringency (EPS) in shaping market reactions. Our findings reveal that higher EPS acquirer’s home country associated with a greater perceived loss shareholder upon announcement M&A deals, suggesting signals significant operational risks related hydrocarbon investments. However, when these deals cross-border, adverse impact home-market diminishes, indicating expanding beyond domestic may help mitigate consequences stricter regulations. JEL Classification: G11, G14, G34, Q40, Q58

Language: Английский

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How does digital transformation drive green technology M&A under the carbon cap and trade policy?

Technology in Society, Journal Year: 2025, Volume and Issue: unknown, P. 102868 - 102868

Published: March 1, 2025

Language: Английский

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Can China’s carbon market policy promote inter-city green collaborative innovation?

Energy Economics, Journal Year: 2025, Volume and Issue: unknown, P. 108398 - 108398

Published: March 1, 2025

Language: Английский

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Adhering to systems thinking to promote the digital economy and carbon emission reduction—a provincial-level study in China

Environment Development and Sustainability, Journal Year: 2025, Volume and Issue: unknown

Published: March 21, 2025

Language: Английский

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The credibility of environmental policy stringency: Implications for sustainability in OECD Countries

Energy Economics, Journal Year: 2025, Volume and Issue: unknown, P. 108492 - 108492

Published: April 1, 2025

Language: Английский

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