The importance of green development, namely environment-friendly
development is recognized world wild today. As integral parts of green development,
carbon finance and carbon trading are expected to have huge market potential, which
justifies the academic significance of a literature study in this area. The study
of trading of the carbon emission rights mainly focuses on the following three aspects:
the classification of carbon emission rights, the influencing factors of carbon
emission rights and the price features of carbon emission rights.
References
[1]
Bradbury, M. (2007) An Anatomy of an IFRIC Interpretation. Accounting in Europe, 4, 109-122. https://doi.org/10.1080/17449480701727890
[2]
Federal Power Commission (1973) Uniform System of Accounts Prescribed for Public Utilities and Licensees.
[3]
Dittenhofer, M. (1995) Environmental Accounting and Auditing. Managerial Auditing Journal, 10, 40-51. https://doi.org/10.1108/02686909510093615
[4]
Milne, M.J. (1996) Capitalizing and Appropriating Society’s Rights to Clean Air: A Comment on Wambsganss & Sanford’s Accounting Proposal. Critical Perspectives on Accounting, 7, 681-695. https://doi.org/10.1006/cpac.1996.0079
[5]
Daskalakis, G., Psychoyios, D. and Markellos, R.N. (2009) Modeling CO2, Emission Allowance Prices and Derivatives: Evidence from the European Trading Scheme. Journal of Banking & Finance, 33, 1230-1241.
https://doi.org/10.1016/j.jbankfin.2009.01.001
[6]
Chevallier, J. (2011) Detecting Instability in the Volatility of Carbon Prices. Energy, 33, 99-110. https://doi.org/10.1016/j.eneco.2010.09.006
[7]
Chen, X.H. and Wang, Z. (2012) Empirical Research on Price Mechanism of European Carbon Emissions Trading. Science & Technology Progress & Policy, 27, 142-147.
[8]
Mansanet-Bataller, M., Pardo, A. and Valor, E. (2007) CO2 Prices, Energy and Weather. Energy Journal, 28, 73-92.
https://doi.org/10.5547/ISSN0195-6574-EJ-Vol28-No3-5
[9]
Alberola, E., Chevallier, J. and Chèze, B. (2008) The EU Emissions Trading Scheme: Disentangling the Effects of Industrial Production and CO2 Emissions on Carbon Prices. Social Science Electronic Publishing, 116, 93-126.
[10]
Hintermann, B. (2010) Allowance Price Drivers in the First Phase of the EU ETS. Journal of Environmental Economics & Management, 59, 43-56.
https://doi.org/10.1016/j.jeem.2009.07.002
[11]
Rickels, W., Gorlich, D. and Peterson, S. (2015) Explaining European Emission Allowance Price Dynamics: Evidence from Phase II. German Economic Review, 16, 181-202. https://doi.org/10.1111/geer.12045
[12]
Gronwald, M., Ketterer, J. and Trück, S. (2011) The Relationship between Carbon, Commodity and Financial Markets: A Copula Analysis. Economic Record, 87, Supplement S1, 105-124. https://doi.org/10.1111/j.1475-4932.2011.00748.x
[13]
Hammoudeh, S., Nguyen, D.K. and Sousa, R.M. (2014) Energy Prices and CO2, Emission Allowance Prices: A Quantile Regression Approach. Energy Policy, 70, 201-206. https://doi.org/10.1016/j.enpol.2014.03.026
[14]
Bollerslev, T. and Ghysels, E. (1996) Periodic Autoregressive Conditional Heteroscedasticity. Journal of Business & Economic Statistics, 14, 139-151.
[15]
Taschini, L. and Marc, S. (2008) An Econometric Analysis of Emission Allowance Prices. Journal of Banking & Finance, 32, 2022-2032.
https://doi.org/10.1016/j.jbankfin.2007.09.024
[16]
Paolella, M.S. and Taschini, L. (2008) An Econometric Analysis of Emission Allowance Prices. Journal of Banking & Finance, 32, 2022-2032.
https://doi.org/10.1016/j.jbankfin.2007.09.024
[17]
Benz, E. and Trueck, S. (2006) CO2 Emission Allowances Trading in Europe—Specifying a New Class of Assets. Investment Management & Financial Innovations, 4, 30-40.
[18]
Seifert, J., Uhrig-Homburg, M. and Wagner, M. (2008) Dynamic Behavior of CO2, Spot Prices. Journal of Environmental Economics & Management, 56, 180-194.
https://doi.org/10.1016/j.jeem.2008.03.003
[19]
Gorecki, P.K., Lyons, S. and Tol, R.S.J. (2010) EU Climate Change Policy 2013-2020: Using the Clean Development Mechanism More Effectively in the Non-EU-ETS Sector. Energy Policy, 38, 7466-7475. https://doi.org/10.1016/j.enpol.2010.08.033
[20]
Frunza, M.C. and Lassoudière, A. (2010) Dynamic Factor Analysis of Carbon Allowances Prices: From Classic Arbitrage Pricing Theory to Switching Regimes. Documents de travail du Centre d’Economie de la Sorbonne 2010.62-ISSN: 1955-611X.
[21]
Zhu, B.Z. (2015) Carbon Price Analysis Using Empirical Mode Decomposition. Computational Economics, 45, 195-206. https://doi.org/10.1007/s10614-013-9417-4