Do Green and Energy Indices Outperform BSESENSEX in India? Some evidence on investors’ commitment towards climate change
نویسندگان
چکیده
This study aims at investigating the performance of Indian stock indices augmenting carbon emissions such as BSE Energy index and Oil & Gas vis a-vis BSESNSEX, apex representing market, also those capturing commitment industries towards mitigating risks arising from pollution climate change, Greenex Carbonex, with reference to investors’ benchmark viz., BSESENSEX, during period January 2010 December 2019. Besides using three risk adjusted return ratios, namely, Sharpe ratio, Treynor Jensen’s Alpha, on all five indices, we have applied GARCH-in-mean model find if there is a premium involved either for causing emission or ill effects emission. The results show that Carbonex outperforms BSESENSEX other in terms metrics used. Moreover, green significant presence model. Overall, therefore, finds some funds outperform compared traditional India.
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ژورنال
عنوان ژورنال: International econometric review
سال: 2021
ISSN: ['1308-8793', '1308-8807', '1308-8815']
DOI: https://doi.org/10.33818/ier.787620