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| Alex YiHou Huang, Chiao-Ming Cheng, Wen-Cheng Hu and Chih-Chun Chen |
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| ''Relationship between Crude Oil Prices and Stock Prices of Alternative Energy Companies with Recent Evidence'' |
| ( 2011, Vol. 31 No.3 ) |
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| This paper examines the recent interactive relationships between crude oil prices and stock performances of alternative energy companies. Oil prices and stock index of alternative energy sector are found independent from each other before late 2006. Contrary to existing studies, however, we find significant interdependence between oil prices and stock index of alternative energy industry in the recent years. Since late 2006, oil prices become significantly responsible for the stock performances of alternative energy companies. This finding suggests that the stock market investors of alternative energy sector incorporate oil price shocks into their trading decisions only recently. |
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| Keywords: Crude oil price; Alternative energy; Oil stock index |
JEL: Q4 - Energy: General
F2 - International Factor Movements and International Business: General |
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| Manuscript Received : May 12 2011 | | Manuscript Accepted : Aug 29 2011 |
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