文章基本信息

标题：Clean Energy Industries and rare Earth Materials: Economic and Financial Issues
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作者：Baldi, Lucia ; Peri, Massimo ; Vandone, Daniela 等
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2013
页码：310-324
出版社：Journal of Agribusiness
摘要：In the last few years Rare Earth Materials (REMs) prices have experienced a strong increase, due to geopolitical policies and sustainability issues. Provided that these materials at risk of supply disruptions are largely employed in the development of new technologies - such as clean energy industries - financial markets may already have included these concerns into clean energy companies evaluation. We use a multifactor market model for the period January 2006-September 2012 to analyse the impact of REMs price changes – specifically Dysprosium and Neodymium - to six clean energy indexes (NYSE-BNEF) tracking the world’s most active quoted companies in the clean energy sector. Results show that during period of price increase there is a negative relation between REMs price changes and the stock market performance of clean energy indexes, specifically wind. The European clean energy index is also negatively affected and this may be relevant to policy makers considering that Europe is putting in place some relevant policy actions to support the development of the clean energy sector.
关键词：Clean energy;rare earth materials;stock prices