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dc.contributor.authorOberndorfer, Ulrichen_US
dc.date.accessioned2009-02-16T15:09:11Z-
dc.date.available2009-02-16T15:09:11Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/24711-
dc.description.abstractThis paper constitutes a first analysis on stock returns and stock return volatility of energy corporations from the Eurozone. According to our results, the gas market does not play a role for the pricing of Eurozone energy stocks. However, changes in the Euro to U.S. Dollar exchange rate as well as developments at the money and especially at the oil market strongly affect returns of the energy stock portfolios analyzed. While oil price hikes negatively impact on stock returns of European utilities, they lead to an appreciation of oil and gas stocks. Most importantly, we show that oil market volatility negatively affects European oil and gas stocks. In contrast, energy stock volatility is not driven by volatility of the resource market, but only by its own dynamics.en_US
dc.language.isoengen_US
dc.publisherZentrum für Europäische Wirtschaftsforschung (ZEW) Mannheimen_US
dc.relation.ispartofseriesZEW Discussion Papers 08-017en_US
dc.subject.jelQ43en_US
dc.subject.jelC13en_US
dc.subject.jelQ40en_US
dc.subject.jelG12en_US
dc.subject.ddc330en_US
dc.subject.keywordEnergy stocksen_US
dc.subject.keywordresource pricesen_US
dc.subject.keywordvolatilityen_US
dc.subject.keywordasset pricingen_US
dc.subject.stwEnergiewirtschaften_US
dc.subject.stwBörsenkursen_US
dc.subject.stwRenditeen_US
dc.subject.stwVolatilitäten_US
dc.subject.stwErdölpreisen_US
dc.subject.stwErdgasmarkten_US
dc.subject.stwEU-Staatenen_US
dc.titleReturns and Volatility of Eurozone Energy Stocksen_US
dc.typeWorking Paperen_US
dc.identifier.ppn561230889en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zewdip:7226-
Appears in Collections:Publikationen von Forscherinnen und Forschern des ZEW
ZEW Discussion Papers

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