Carbon Credit, Clean Energy Transition, Uncertainty, and Energy Sector Stock Performance: Evidence from Thailand and the United States Massaporn Cheuathonghua
คำสำคัญ:
Carbon credit, clean energy, uncertainties, energy sectors, Thailand, U.S.บทคัดย่อ
This study aims to examine the relation among five independent variables that include the S&P Global Carbon Credit Index, the S&P Global Clean Energy Transition Index, the CBOE Crude Oil Volatility Index, the CBOE Volatility Index, and the Dow Jones Commodity Index Energy and two dependent variables that consist of the Energy and Utilities sector index in the Stock Exchange of Thailand (SETENERG) and the S&P 500 Energy Sector Index (SPNY). This quantitative research collects time series data based on a monthly basis, covering the period from January 2016 to December 2025 with the total observations of 120 months and employs Multiple Linear Regression in the analysis.
The findings reveal that the S&P Global Carbon Credit Index, the S&P Global Clean Energy Transition Index, the CBOE Crude Oil Volatility Index, and the Dow Jones Commodity Index Energy demonstrate statistically significant positive correlations with SETENERG at the 1% significance level. Similarly, the S&P Global Carbon Credit Index, the S&P Global Clean Energy Transition Index, and the CBOE Crude Oil Volatility Index have a positive relation on SPNY at the 10% significance level, while the Dow Jones Commodity Index Energy has a positive association on SPNY at the 1% significance level. On the contrary, the CBOE Volatility Index displays a statistically significant negative association with SETENERG at the 1% significance level, and with SPNY at the 5% significance level, respectively. These insights suggest that these factors play vital roles in energy sectors in both Thailand and U.S. markets, contributing to investors in energy sectors in providing investment strategies in both capital markets.
เอกสารอ้างอิง
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