YIELDCO AS A PERSPECTIVE INVESTMENT VEHICLE
| Autor: | Natalia Kuznetsova, L.A. Ivanov, Nguyen Canh Toan, Zhanna Pisarenko |
|---|---|
| Rok vydání: | 2021 |
| Předmět: |
Finance
050208 finance business.industry Yield (finance) media_common.quotation_subject 05 social sciences Institutional investor 0211 other engineering and technologies Crash 02 engineering and technology Investment (macroeconomics) Renewable energy Empirical research Originality 0502 economics and business Value (economics) 021108 energy business media_common |
| Zdroj: | International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering". |
| ISSN: | 2538-8711 |
| Popis: | Purpose – the purpose of the article is to assess the investment potential of YieldСos as an innovative pension vehicle and determine the risks that may arise in connection with them. Methods used: empirical analyses, comparisons, statistical analyses.Research methodology – empirical research, comparative analysis, statistical analyses. Findings – in the paper we compared the new investment vehicle YieldCos (green) and a traditional investment vehicle – energy companies (non-green). It was found that the correlation of YieldCos with the market indices is similar to non-green companies. But YieldCos are more exposed to risks than energy companies. That may offset their attractiveness as long term investment vehicle. It is necessary to continue research for this investment vehicle during the period of global financial volatility and crash of crude oil price. Research limitations – the authors study the raise of the new investment vehicle – YieldCos, during the period from 2013 to 2018 (pre Covid-19 Era). Practical implications – YieldCos focus on investors interests, raising money in an environmental projects (namely re-newable energy), and provide combination of high yield and high income growth. Aforesaid characteristics are attractive for institutional investors that are currently experiencing a lack of resources to meet their obligations. Originality/Value – new investment vehicle is becoming a part of the overall socially responsible investment universe. We have taken the first step in the comparative evaluation of traditional and innovative types of investment instruments. Showed the prospects of a new environmentally oriented tool. It is necessary to continue research of this investment vehicle during the period of global financial volatility, changing landscape of energy resources and stakeholders rising influence. https://doi.org/10.3846/cibmee.2021.638 |
| Databáze: | OpenAIRE |
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