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Options Based on CO2 Emissions: A Comparison with Traditional Options
Halmstad University, School of Business and Engineering (SET).
Halmstad University, School of Business and Engineering (SET).
2009 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Abstract

Title: Options Based on CO2 Emissions: A Comparison with Traditional Options

Seminar date: 2009-06-17

Course: Bachelor thesis in business administration, 15 ECTS

Authors: Gustaf Kristiansson, Martin Nilsson

Instructor: Bengt Kjellgren

Key words: Black & Scholes, Certified Emission Reductions, emission markets, European Union Allowances, options, pricing

Purpose: This study intends to compare traditional options with the CO2 based instruments EUAs and CERs options in the fields of pricing, cap and trade, political influence, economical effects and market function.

Methodology: A combined research methodology is used in this study, which includes both a quantitative and a qualitative approach. A deductive research approach is brought out over the whole study.

Theoretical perspectives: The theoretical framework is based upon previous empirical research concerning the fields in this study. The Black & Scholes formula for option pricing has a central position.

Empirical foundation: Market data has been used to analyse the field of pricing. Interviews have been conducted with actors on the European emission trading market for a further understanding of cap and trade, political influence, economical effects and market function.

Conclusions: We have in this research identified that the CO2 based market differs from the financial market when it comes to political decisions and price fluctuation. We have also identified that the CO2 based market is not mature enough for a complete internationalisation.

Place, publisher, year, edition, pages
2009. , 57 p.
Keyword [en]
Black & Scholes, Certified Emission Reduction, emission markets, European Union Allowances, options, pricing
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hh:diva-3615OAI: oai:DiVA.org:hh-3615DiVA: diva2:280908
Presentation
2009-06-17, na, na, Halmstad, 10:00 (Swedish)
Uppsok
Social and Behavioural Science, Law
Supervisors
Note
En formell presentation utfördes ej pga utlandsstudier.Available from: 2010-01-20 Created: 2009-12-12 Last updated: 2010-01-20Bibliographically approved

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Options Based on CO2 Emissions - Kristiansson & Nilsson (2009)(1083 kB)197 downloads
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CiteExportLink to record
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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf