Renewable Energy Policies and Cross-border Investment: Evidence from Mergers and Acquisitions in Solar and Wind Energy
The study assesses the role of feed-in tariffs (FITs) and renewable energy certificates (RECs) in creating incentives for cross-border investments and for investments in particular technological portfolios via M&A. The analysis explores the dataset on M&As in alternative energy sources world...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2014
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| Schriftenreihe: | OECD Science, Technology and Industry Working Papers
no.2014/03 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The study assesses the role of feed-in tariffs (FITs) and renewable energy certificates (RECs) in creating incentives for cross-border investments and for investments in particular technological portfolios via M&A. The analysis explores the dataset on M&As in alternative energy sources worldwide over 2005-2011. The results suggests that FITs encourage more diversified M&A than RECs. With respect to foreign investment, the study finds a linear relationship between FITs and cross-border M&As in the wind energy sector, but an inverted U-shaped relationship in the solar energy sector. One possible explanation for the latter may lie in reduced policy credibility due to the public finance implications of 'generous' FITs. Another possible explanation for this finding concerns the use of high solar FITs by countries whose natural conditions provide little comparative advantage in solar energy, suggesting that low profitability and limited potential of solar energy in those countries might have deterred the entry of foreign investors. |
| Beschreibung: | 1 Online-Ressource (33 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5jxv9f3r9623-en |
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| indexdate | 2024-07-16T15:07:17Z |
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| spelling | Criscuolo, Chiara VerfasserIn aut Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy Chiara, Criscuolo ... [et al] Paris OECD Publishing 2014 1 Online-Ressource (33 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Science, Technology and Industry Working Papers no.2014/03 The study assesses the role of feed-in tariffs (FITs) and renewable energy certificates (RECs) in creating incentives for cross-border investments and for investments in particular technological portfolios via M&A. The analysis explores the dataset on M&As in alternative energy sources worldwide over 2005-2011. The results suggests that FITs encourage more diversified M&A than RECs. With respect to foreign investment, the study finds a linear relationship between FITs and cross-border M&As in the wind energy sector, but an inverted U-shaped relationship in the solar energy sector. One possible explanation for the latter may lie in reduced policy credibility due to the public finance implications of 'generous' FITs. Another possible explanation for this finding concerns the use of high solar FITs by countries whose natural conditions provide little comparative advantage in solar energy, suggesting that low profitability and limited potential of solar energy in those countries might have deterred the entry of foreign investors. Energy Environment Finance and Investment Science and Technology Johnstone, Nick MitwirkendeR ctb Menon, Carlo MitwirkendeR ctb Shestalova, Victoria MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5jxv9f3r9623-en Volltext |
| spellingShingle | Criscuolo, Chiara Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy Energy Environment Finance and Investment Science and Technology |
| title | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy |
| title_auth | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy |
| title_exact_search | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy |
| title_full | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy Chiara, Criscuolo ... [et al] |
| title_fullStr | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy Chiara, Criscuolo ... [et al] |
| title_full_unstemmed | Renewable Energy Policies and Cross-border Investment Evidence from Mergers and Acquisitions in Solar and Wind Energy Chiara, Criscuolo ... [et al] |
| title_short | Renewable Energy Policies and Cross-border Investment |
| title_sort | renewable energy policies and cross border investment evidence from mergers and acquisitions in solar and wind energy |
| title_sub | Evidence from Mergers and Acquisitions in Solar and Wind Energy |
| topic | Energy Environment Finance and Investment Science and Technology |
| topic_facet | Energy Environment Finance and Investment Science and Technology |
| url | https://doi.org/10.1787/5jxv9f3r9623-en |
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