Green Recovery: How Are Environmental Stocks Doing?

With a focus on 310 "green" companies, in the industries of biomass, biofuels, clean technology, efficiency, energy storage, fuel cells, geothermal, recycling, green chemicals, environmental building, renewable energy project developers, solar energy, environmentally conscious transportati...

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Bibliographic Details
Published in:The journal of wealth management 2009-10, Vol.12 (2), p.9-20
Main Authors: Boulatoff, Catherine, Boyer, Carol Marie
Format: Article
Language:English
Subjects:
Alternative energy sources
Asset management
Biodiesel fuels
Biofuels
Capital expenditures
Clean technology
Earnings per share
Efficiency
Energy industry
Energy storage
Environmental impact
Environmental protection
Financial performance
Fuel cells
International
Investment policy
Investments
Investors
R&D
Rates of return
Renewable energy
Renewable resources
Research & development
Social investing
Solar energy
Stocks
Studies
Subsidies
Taxation
Wind power
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Summary:With a focus on 310 "green" companies, in the industries of biomass, biofuels, clean technology, efficiency, energy storage, fuel cells, geothermal, recycling, green chemicals, environmental building, renewable energy project developers, solar energy, environmentally conscious transportation, and water and wind energy, this article tests the hypothesis that green companies' financial performance follows that of traditional companies. It also examines how different countries excel at developing environmental solutions in different areas and illuminates the reasons for their successes. Such reasons might include government investment or tax incentives. Finally, this article analyzes how different industries have been performing over time. Key variables investigated include differences in capital expenditures, such as research and development and the sources of firms' financing. Findings suggest that Nasdaq firms outperform the green firms, although certain green industries dominate the Nasdaq. Other significant results relate to larger equity shares held by insiders in environmental firms. Finally, green firms have larger R&D and capital expenditures compared and better corporate governance than Nasdaq firms. [PUBLICATION ABSTRACT]
ISSN:1534-7524
2374-1368
DOI:10.3905/jwm.2009.12.2.009