作为可再生能源库存投资的避风港资产
Rania Zghal1, Ahmed Ghorbel1, Nejib Hachicha1
1Faculty of Economics and Management Sciences, University of Sfax, Tunisia.
Journal of environmental management
|September 27, 2025
概括
黄金和绿色债券为可再生能源投资提供了强大的避风港保护,有效减轻风险. 维克斯和比特币提供较弱的保护,特别是在较低的投资组合重量,在COVID-19之前和期间的发现一致.
科学领域:
- * * 金融 金融 金融
- * 环境,社会和治理 (ESG) 投资
- * 风险管理 风险管理
背景情况:
- *可再生能源投资面临着独特的风险.
- *确定有效的避风港资产对于投资组合稳定至关重要.
- *COVID-19大流行凸显了强有力的风险减轻策略的必要性.
研究的目的:
- * 为了比较VIX,黄金,比特币和绿色债券的避风港属性.
- *评估它们在可再生能源指数 (太阳能,风能,生物清洁燃料,地热) 的风险有效性.
- *分析不同投资组合权重和市场状况 (包括疫情) 的表现.
主要方法:
- *使用R-vineCopula条件风险价值 (CVaR) 方法.
- *从2018年2月2日到2023年2月20日的每日雇员财务数据.
- *分析了涵盖大流行前和大流行期间的数据.
主要成果:
- * 黄金和绿色债券表现出强大的避风港能力,无论投资组合重量如何,都能降低下行和上行风险.
- *VIX和比特币的避风港潜力较弱,主要在较小的投资组合权重下提供风险降低.
- * 确定的避风港属性在不同市场阶段保持一致,包括COVID-19爆发.
结论:
- *建议黄金和绿色债券作为可靠的避风港资产用于可再生能源投资组合.
- * 投资者和投资组合经理可以利用这些资产来防止下行风险.
- * 卖空者也可以从了解这些资产提供的上行风险缓解中获益.
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