RAZVOJ TERMINSKOG TRŽIŠTA EMISIJA CO2 U FUNKCIJI RASTA TRŽIŠNE VREDNOSTI AKCIJA KOMPANIJA
Sažetak
SAŽETAK: U radu se istražuje uticaj razvoja terminskog tržišta i trgovanja zelenim proizvodima na cene akcija kompanija na globalnim berzama. Zeleno tržište danas karakteriše ubrzani rast i razvoj, što se posebno odnosi na tržišta emisija CO2. Osnovni cilj rada je da analizira trenutni nivo razvoja tržišta emisija u Evropi i proširi teorijsko razumevanje terminskog trgovanja ovom vrstom proizvoda. Kao indikator značaja novih proizvoda i tendencija na robnim terminskim tržištima, u radu se istražuje uticaj trgovanja fjučersima na emisije CO2 na Evropskoj Energetskoj Berzi (EEX) na tržišnu vrednost akcija kompanija iz sektora energetike, rudarstva, saobraćaja, prerađivačke industrije i finansijskih usluga. Polazeći od toga da pokazatelji tržišne vrednosti akcionarima daju neophodne informacije, npr. prinos na uložena investiciona sredstva, izabrani su osnovni mikrofundamentalni pokazatelji: prosečna cena akcija, EPS, P/E racio, P/B racio i tržišna kapitalizacija.
Ključne reči: emisije CO2, terminska trgovina, tržišna vrednost kompanije, EEX, FEUA DEC 20
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