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. / En formell presentation utfördes ej pga utlandsstudier.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:hh-3615 |
| Date | January 2009 |
| Creators | Nilsson, Martin, Kristiansson, Gustaf |
| Publisher | Högskolan i Halmstad, Sektionen för ekonomi och teknik (SET), Högskolan i Halmstad, Sektionen för ekonomi och teknik (SET) |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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