NDLI: Do Transaction Costs Influence Firm Trading Behaviour in the European Emissions Trading System?

Content Provider	Springer Nature Link
Author	Jaraitė Kažukauskė, Jūratė Kažukauskas, Andrius
Copyright Year	2014
Abstract	This study is one of the first to empirically investigate firm trading behaviour and the importance of permit trading transaction costs, such as information costs and search costs, in the first phase of the European Union’s Emissions Trading System (EU ETS). The signs and significance of our constructed transaction costs proxy variables indicate for a presence of these costs in the initial years of the EU ETS. In particular, this paper shows that ETS firms with the smaller number of installations and with less trading experience were less likely to participate in the European emissions trading market and traded the lower quantities of permits. Furthermore, these firms chose to trade permits indirectly via third parties. This study also supports the concerns that transaction costs could be excessive for smaller participants and firms operating in the new EU member states.
Starting Page	583
Ending Page	613
Page Count	31
File Format	PDF
ISSN	09246460
Journal	Environmental and Resource Economics
Volume Number	62
Issue Number	3
e-ISSN	15731502
Language	English
Publisher	Springer Netherlands
Publisher Date	2014-10-09
Publisher Place	Dordrecht
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Climate policy Emissions trading EU ETS European Union Firm-level data Trading behaviour Transaction costs Environmental Economics Environmental Law/Policy/Ecojustice Economic Policy Economics Environmental Management
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Management, Monitoring, Policy and Law

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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