publication . Article . 2014

Australian Coal Company Risk Factors: Coal and Oil Prices

M. Zahid Hasan; Ronald A. Ratti;
Open Access
  • Published: 01 Jan 2014 Journal: The International Journal of Business and Finance Research, volume 8, issue 1, pages 57-67
Abstract
Examination of panel data on listed coal companies on the Australian exchange over January 1999 to February 2010 suggests that market return, interest rate premium, foreign exchange rate risk, and coal price returns are statistically significant in determining the excess return on coal companies’ stock. Coal price return and oil price return increases have statistically significant positive effects on coal company stock returns. A one per cent rise in coal price raises coal company returns by between 0.15% and 0.17%. A one per cent rise in oil price raises coal company returns by between 0.06% and 0.08%. The sensitivity of stock prices to oil price shocks sugg...
Subjects
Medical Subject Headings: health care economics and organizationscomplex mixturesotorhinolaryngologic diseasesrespiratory tract diseasestechnology, industry, and agriculture
free text keywords: Coal Stock Price, Coal Price, Oil Price, jel:G12, jel:G15, jel:Q4
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