We investigate how financial market participants value energy accidents. We employ an event study to look into the response of stock markets to 209 accidents. These accidents were derived from Sovacool’s (2008) database on major energy accidents from 1907 to 2007. It appears that the stock...

We investigate how electricity markets relate to emission allowance prices. We analyze the price determinants of the European Allowance Units' returns and account for exchange specific effects. We employ a Threshold GARCH (Generalized Autoregressive Conditional Heteroskedasticity) model and,...