Abstract
This study aims to investigate the oil price asymmetric effect on stock return of renewable energy companies. We apply panel Non-linear Autoregressive Distributed Lag to examine the effect of positive and negative changes in the oil price. The monthly data of all renewable energy companies listed in the National Stock Exchange of India are considered for the analysis. We find the oil price asymmetric effect only on stock returns of the standalone renewable products and services companies in the long run. This asymmetric effect is not found in the whole sample and other sub-groups of renewable energy companies. The findings would be useful to investors, portfolio managers, corporate managers and policymakers.
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All data are available in the public domain. The sources of these data are mentioned in the data section of the manuscript.
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Mishra, L., Acharya, R.H. The Asymmetric Interaction Between Oil Price Change and Stock Returns of the Renewable Energy Companies in India: A Panel NARDL Approach. Asia-Pac Financ Markets (2024). https://doi.org/10.1007/s10690-024-09447-w
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DOI: https://doi.org/10.1007/s10690-024-09447-w