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Photovoltaic Companies on the Warsaw Stock Exchange—Another Speculative Bubble or a Sign of the Times?

Energies (Basel), 2023-01, Vol.16 (2), p.692 [Peer Reviewed Journal]

2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 1996-1073 ;EISSN: 1996-1073 ;DOI: 10.3390/en16020692

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  • Title:
    Photovoltaic Companies on the Warsaw Stock Exchange—Another Speculative Bubble or a Sign of the Times?
  • Author: Kuś, Agnieszka ; Kuś, Agnieszka
  • Subjects: Alternative energy ; Alternative energy sources ; Attraction ; Capital markets ; Emissions ; Emissions control ; Energy costs ; Energy industry ; financial condition of companies ; financial market ; Greenhouse effect ; Greenhouse gases ; Growth models ; investment risk ; Investments ; Legal issues ; New stock market listings ; Photovoltaic cells ; photovoltaic companies ; Photovoltaics ; Prices ; ratio analysis ; renewable energy ; Renewable energy sources ; Renewable resources ; Securities markets ; Solar collectors ; Solar energy ; Speculation ; Stock exchanges
  • Is Part Of: Energies (Basel), 2023-01, Vol.16 (2), p.692
  • Description: Renewable energy sources are an attractive alternative to fossil fuels for several reasons. Firstly, these are ecological arguments, mainly reducing greenhouse gas emissions. Secondly, there are legal issues, particularly the obligations of the European Community countries in the field of climate as part of the implementation of the European Green Deal and the joint achievement of 40% of energy from renewable sources by 2030. Thirdly, these are international issues, primarily regarding reducing dependence on uncertain oil or gas markets. And finally, they may be economic reasons, such as diversification of energy supplies and associated costs, as well as opportunities for profits on the capital market. In Poland, over the last decade, a certain kind of boom in photovoltaics has been visible, both in terms of the number of companies dealing with solar collectors, as well as the annual increase in new capacity, or the level of installed capacity. Also, on the Warsaw Stock Exchange, photovoltaic companies have introduced much confusion in the tier of quotations in recent years. Solar energy has become a kind of gateway for companies to increase their results, stock exchange quotations, or acquire new customers. It is not surprising that more and more investors want to invest their money in this segment. Given the above, this article attempts to answer the question: Is there a risk of a stock market bubble among photovoltaic companies in the near future? For this purpose, we used the financial indicators of photovoltaic companies listed on the Warsaw Stock Exchange, and with the help of the Taxonomic Measure of Attractiveness of Investments, we created rankings of the investment attractiveness of these companies in 2017-2019. The leaders include companies listed on the main market as well as in the alternative trading system of the Warsaw Stock Exchange. It should be borne in mind that regardless of the undertaken diversification and analytical activities, the risk of an investment bubble has been and will remain an indispensable element in the functioning of every capital market in the world.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 1996-1073
    EISSN: 1996-1073
    DOI: 10.3390/en16020692
  • Source: GFMER Free Medical Journals
    Coronavirus Research Database
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
    DOAJ Directory of Open Access Journals

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