Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these

Detalhes bibliográficos
Autor(a) principal: Holta, Astri Cecilie Floettre
Data de Publicação: 2020
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/111604
Resumo: A YieldCo is an instrument that owns renewable energy assets and distributes most of its cashflow, coming from the sale of electricity, to investors. Furthermore, a YieldCo can be categorized based on geography, growth strategy, asset-bundling, sponsors and ROFO (right of first offer)agreements. This thesis analyzes whether different types of YieldCos have provided investors with abnormal return, and identifies the types’ risk exposures. Based on a sample of 17 listed European and North American YieldCos, I find that portfolios consisting of European YieldCos, non-growth YieldCos and single-bundled YieldCos, have provided investors with a statistically significant abnormal return.
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spelling Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for theseYieldcosAbnormal returnRisk factor exposureRenewable energyDomínio/Área Científica::Ciências Sociais::Economia e GestãoA YieldCo is an instrument that owns renewable energy assets and distributes most of its cashflow, coming from the sale of electricity, to investors. Furthermore, a YieldCo can be categorized based on geography, growth strategy, asset-bundling, sponsors and ROFO (right of first offer)agreements. This thesis analyzes whether different types of YieldCos have provided investors with abnormal return, and identifies the types’ risk exposures. Based on a sample of 17 listed European and North American YieldCos, I find that portfolios consisting of European YieldCos, non-growth YieldCos and single-bundled YieldCos, have provided investors with a statistically significant abnormal return.Pereira, João PedroRUNHolta, Astri Cecilie Floettre2022-05-22T00:31:26Z2020-06-082020-05-222020-06-08T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/111604TID:202609987enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:55:28Zoai:run.unl.pt:10362/111604Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:41:57.395330Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
title Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
spellingShingle Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
Holta, Astri Cecilie Floettre
Yieldcos
Abnormal return
Risk factor exposure
Renewable energy
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
title_full Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
title_fullStr Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
title_full_unstemmed Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
title_sort Yieldcos: an analysis of which types of YieldCos that have provided investors with abnormal return, and the recognition of the major risk factor exposure for these
author Holta, Astri Cecilie Floettre
author_facet Holta, Astri Cecilie Floettre
author_role author
dc.contributor.none.fl_str_mv Pereira, João Pedro
RUN
dc.contributor.author.fl_str_mv Holta, Astri Cecilie Floettre
dc.subject.por.fl_str_mv Yieldcos
Abnormal return
Risk factor exposure
Renewable energy
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Yieldcos
Abnormal return
Risk factor exposure
Renewable energy
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description A YieldCo is an instrument that owns renewable energy assets and distributes most of its cashflow, coming from the sale of electricity, to investors. Furthermore, a YieldCo can be categorized based on geography, growth strategy, asset-bundling, sponsors and ROFO (right of first offer)agreements. This thesis analyzes whether different types of YieldCos have provided investors with abnormal return, and identifies the types’ risk exposures. Based on a sample of 17 listed European and North American YieldCos, I find that portfolios consisting of European YieldCos, non-growth YieldCos and single-bundled YieldCos, have provided investors with a statistically significant abnormal return.
publishDate 2020
dc.date.none.fl_str_mv 2020-06-08
2020-05-22
2020-06-08T00:00:00Z
2022-05-22T00:31:26Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/111604
TID:202609987
url http://hdl.handle.net/10362/111604
identifier_str_mv TID:202609987
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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