Abstract
The current study investigates if environmental taxation in Turkey significantly impacts stock returns of renewable energy producers. Renewable energy-related firms trading Istanbul Stock Exchange and the overall energy stock index are selected and analyzed using time series methods. Results generally confirm the long-term effects of taxation on renewable energy stock prices. This study demonstrates that variations in national environmental regulations and energy taxation result in significant variations in energy stock performance. It is also found that foreign direct investments in Turkey negatively impact energy stock markets. Implications are provided at the end of this study.
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