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dc.contributor.authorKallen, Matthijs Jan
dc.contributor.authorScholtens, Bert
dc.date.accessioned2021-12-14T00:45:40Z
dc.date.available2021-12-14T00:45:40Z
dc.date.issued2021-12-01
dc.identifier277001404
dc.identifier63099740-77ae-4c70-986d-db3747f68677
dc.identifier85120686848
dc.identifier000735038900001
dc.identifier.citationKallen , M J & Scholtens , B 2021 , ' Movers and shakers : stock market response to induced seismicity in oil and gas business ' , Energies , vol. 14 , no. 23 , e8051 . https://doi.org/10.3390/en14238051en
dc.identifier.issn1996-1073
dc.identifier.otherJisc: bc68684c7cdf45c88061d98a346e8485
dc.identifier.otherORCID: /0000-0001-5774-5191/work/104618996
dc.identifier.urihttps://hdl.handle.net/10023/24505
dc.description.abstractInvestors increasingly need to account for concerns about non-financial performance and to consider the environmental impact of fossil fuel investment. We analyze how financial investors appreciate induced seismicity in oil and gas fields in the US and the Netherlands. We employ an event study to investigate the stock market reaction of investors in two fossil fuel majors, ExxonMobil and Royal Dutch Shell. We establish that stock market participants’ response is positively but weakly related to induced seismicity with ExxonMobil. This suggests that markets might interpret this seismicity as a signal of future productivity. With Royal Dutch Shell, there is no significant association, suggesting that their investors do not specifically appreciate its externalities. We conclude that the externality of induced seismicity goes unpriced.
dc.format.extent291438
dc.language.isoeng
dc.relation.ispartofEnergiesen
dc.subjectInduced seismicityen
dc.subjectOil and gas majorsen
dc.subjectFinancial valueen
dc.subjectStock marketen
dc.subjectEvent studyen
dc.subjectHG Financeen
dc.subjectDASen
dc.subject.lccHGen
dc.titleMovers and shakers : stock market response to induced seismicity in oil and gas businessen
dc.typeJournal articleen
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.contributor.institutionUniversity of St Andrews. Centre for Energy Ethicsen
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.identifier.doi10.3390/en14238051
dc.description.statusPeer revieweden


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