000			02073cam a2200253 4500500
005			20250112004533.0
041			_afre
042			_adc
100	1	0	_aAlphonse, Pascal _eauthor
700	1	0	_a Bourghelle, David _eauthor
700	1	0	_a Jawadi, Fredj _eauthor
700	1	0	_a Rozin, Philippe _eauthor
245	0	0	_aTime-Varying Financial Performance of Green and Traditional Energy Indices with Special Reference to the Covid-19 Context
260			_c2021.
500			_a14
520			_aThis paper comparatively investigates the financial performance of traditional and green energy indices from 2010 up to the current context of Covid-19. In particular, we analyze whether the green finance index supplants the traditional class of energy indices and examine whether consideration of a green index could provide a useful hedging solution in the specific context of Covid-19, a situation marked by a significant health risk and high volatility in the energy sector. Accordingly, we estimate different performance ratios and present some interesting findings. In particular, we find evidence of volatility and time variation in the market beta, suggesting that, whether conventional or green, energy sector sensitivity in fact depends on the market state (bear versus bull). Further, financial performance appears to be time varying and regime-dependent. Indeed, the conventional energy sector outperforms in a bear market, while the green index shows stronger financial performance in a bull market. These results are of interest for both investors and portfolio managers, helping them to balance their investments and optimize their portfolios according to the state of the market or the price regime. JEL Classification: C20, F10, G10.
690			_afinancial performance
690			_agreen finance
690			_aCovid-19
690			_anonlinearity
690			_amarket beta
786	0		_nBankers, Markets & Investors | 166 | 3 | 2021-09-08 | p. 44-55
856	4	1	_uhttps://shs.cairn.info/revue-bankers-markets-et-investors-2021-3-page-44?lang=en
999			_c100456 _d100456