Graduation Year

Fall 2012

Document Type

Open Access Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Lisa K. Meulbroek

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Terms of Use for work posted in Scholarship@Claremont.

Rights Information

© 2012 Joseph Anderson


This paper uses timer series panel data from Bloomberg to ascertain the affects that carbon prices and other factors have on European oil and steel companies. This paper finds inconclusive evidence of carbon price return correlation with oil and steel company equity return. However it does find a strong positive correlation between the market portfolio excess return, which is the return on the DJS 600 EUR index minus the German three-month T-bill rate, and oil and steel excess equity return.