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  • The value relevance of climate change: A preliminary study of oil and gas companies in Australia

    Author(s)
    Vlady, Svetlana
    Griffith University Author(s)
    Vlady, Svetlana
    Year published
    2009
    Metadata
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    Abstract
    This study examines the reciprocal relationship between the oil and gas industry on one hand, and weather and climate on the other hand, and the subsequent impact of this relationship on the market value of the industry in an Australian context. The oil and gas industry is crucial to the Australian economy. The industry is affected by change in the climate and is responsible for a substantial portion of carbon emissions. The GARCH and linear multivariate regression models been applied, in order to obtain more informative results. The study concludes that climate change is value relevant for the oil and gas industry. Moreover, ...
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    This study examines the reciprocal relationship between the oil and gas industry on one hand, and weather and climate on the other hand, and the subsequent impact of this relationship on the market value of the industry in an Australian context. The oil and gas industry is crucial to the Australian economy. The industry is affected by change in the climate and is responsible for a substantial portion of carbon emissions. The GARCH and linear multivariate regression models been applied, in order to obtain more informative results. The study concludes that climate change is value relevant for the oil and gas industry. Moreover, the study confirms that a relationship exists between carbon emissions and the market value of the Australian oil and gas industry, and this relationship is highly significant and positive. The Australian oil and gas industry is still viewed as an important part of investors' portfolios.
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    Journal Title
    Oil, Gas and Energy Quarterly
    Volume
    57
    Issue
    4
    Publisher URI
    http://www.bus.lsu.edu/accounting/faculty/lcrumbley/oilgas.html
    Subject
    Finance
    Law
    Publication URI
    http://hdl.handle.net/10072/29647
    Collection
    • Journal articles

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