Seminar by Prof. Francesco Quatraro, University of Torino
Event details
| Date | 06.11.2015 |
| Hour | 12:00 › 13:30 |
| Speaker | Prof. Francesco Quatraro, University of Torino |
| Location | |
| Category | Conferences - Seminars |
"Eco-innovations and firms’ market value: a micro-econometric analysis of European data"
Abstract
This paper combines the conceptual and empirical framework sunderlying the market value and innovation literature, with the analysis of the economic effects of eco-innovation. In particular it contributes the understanding the effects of the generation of green technologies on stock market evaluation and investigates the differential effects of heterogeneous (green) technologies in this respect. Matching Bureau van Dijk Orbis and Patstat data, we estimate the market value equation, by implementing both linear and nonlinear estimators. We find that a) stock markets attribute higher value to firms generating green technologies and b) higher returns are expected to be associated with more valuable green technologies, i.e. market evaluation depends on the nature of the technology considered. The policy implications are discussed.
Co-authors:
Alessandra Colombelli et Claudia Ghisetti
Abstract
This paper combines the conceptual and empirical framework sunderlying the market value and innovation literature, with the analysis of the economic effects of eco-innovation. In particular it contributes the understanding the effects of the generation of green technologies on stock market evaluation and investigates the differential effects of heterogeneous (green) technologies in this respect. Matching Bureau van Dijk Orbis and Patstat data, we estimate the market value equation, by implementing both linear and nonlinear estimators. We find that a) stock markets attribute higher value to firms generating green technologies and b) higher returns are expected to be associated with more valuable green technologies, i.e. market evaluation depends on the nature of the technology considered. The policy implications are discussed.
Co-authors:
Alessandra Colombelli et Claudia Ghisetti
Practical information
- General public
- Free