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This study aims to investigate the relationship between oil prices and stock returns of renewable energy firms in India under different market conditions.

The authors use the panel quantile framework with Fama–French–Carhart’s (1997) four-factor asset pricing model. All renewable energy firms listed in the National Stock Exchange of India are considered in this study. Three oil prices, such as West Texas Intermediate spot price, Europe Brent oil price and Indian basket oil price, are used in the regression. The analysis is done for the whole sample and its subgroups.

In the whole sample, stock returns of renewable energy firms respond positively to oil price changes in extreme market conditions only. In the subgroups of the renewable energy firms, the relationship between stock returns and oil price is positive and more robust in higher quantiles across all subgroup firms.

The contribution of the study is explained as follows. First, this study helps to explore the relationship between oil and stock returns of the renewable energy sector under different market conditions in the Indian context. Second, existing studies explore the effect of oil prices on stock returns of the renewable energy sector at the industry level, and most of the studies are in developed countries. To the best of the authors’ knowledge, this is the first study in the context of India. Third, this is a firm-level study

The long-term energy transition from fossil fuels to renewable energy challenges the future of oil and gas firms. The purpose of this paper is to explore how the world’s largest oil and gas firms’ strategies are responding to the transition.

The authors used content analysis of annual reports to examine the renewable strategies of the world’s largest publicly traded oil and gas companies. Data were analyzed using two complementary statistical methodologies to build a taxonomy of the patterns in strategic behaviors involving renewable energy.

Five transition archetypes are identified – three reflect an active pursuit of renewable energy, whereas the other two are more defensive in posture. The authors also find that the firm’s country context has an important bearing on renewable strategy. Both normative social pressures and regulatory pressures play key roles in influencing a firm’s commitment to a renewables’ strategy.

Using an innovative research method, we develop a new taxonomy to classify how the world’s largest oil and gas firms are shaping the transition from fossil fuels to renewable energy..

Using an innovative research method, the authors developed a new taxonomy to classify how the world’s largest oil and gas firms are shaping the transition from fossil fuels to renewable energy.

The purpose of this study is to provide a foundational understanding of the internationalization of small- and medium-sized enterprises (SMEs) operating in the context of renewable energy markets. The focus is on exploring and identifying the managerial-, firm- and environmental-level antecedents to their international expansion, which also furthers the understanding of the distinct SME’s internationalization context within the renewable energy market.

The study adopts a qualitative multiple case study approach in a Finnish SME context and identifies the antecedents’ relative prominence at the managerial, firm and environmental levels.

The findings indicate that, although internationalization antecedents of renewable energy SMEs differ owing to market forces such as trends, networks and changing regulatory policies, they share antecedents similar to those of SMEs in other industries.

The main limitation of this study is its single-country home market empirical context. Future studies should expand analysis to different regulatory and regional environments.

To the authors’ knowledge, there are few studies that explore the antecedents of SMEs’ internationalization, especially in the renewable energy market context. Hence, this study contributes to the international business and entrepreneurship literature by illustrating the fundamental managerial-, firm- and environmental-level antecedents to the internationalization of SMEs operating in the renewable energy business. In addition, it highlights the peculiarities of renewable energy SMEs’ internationalization, suggesting that extant research on SMEs’ internationalization has not adequately captured the intricacies present in the internationalization of renewable energy enterprises.

The purpose of this paper is to analyze the competitive advantage of German renewable energy firms in India and China. Porter's diamond model is modified and specified for the renewable energy industry.

Based on Porter's diamond model of competitiveness, the authors examine the demand for renewable energies in India and China and the ability of German firms to meet this demand.

While the overall demand for renewable energies in India and China is significant, the study reveals remarkable differences in the fields of biomass, solar and wind energy. The findings are meant to address managers in the renewable energy industry and to aid policy makers in environmental support and action.

A major theoretical contribution of the study is the application of Porter's diamond model to the renewable energy industry, as well as the identification and operationalization of the relevant causal and proxy variables.

The paper provides a detailed analysis of the factors on which the competitive advantage of German renewable energy technologies in India and China is based. This helps managers of renewable energy firms to focus on those areas where they have particular strengths and to introduce measures to overcome potential weaknesses.

The authors used a modified version of Porter's diamond model and specified it for the renewable energy industry. The model was tested empirically in Germany and both emerging countries on the basis of secondary data.

This paper aims to elaborate on the crucial effects that a seemingly detrimental policy change in Spain has had on the international entrepreneurial activities of domestic renewable energy (RE) firms.

Primary data were collected from nine RE companies in Spain and then triangulated with secondary data and interviews from informants in other local institutions.

Domestic RE firms, due to an institutional scape driver action, reacted to an increasingly uncertain and generally more adverse renewable energy policy framework in this country by preferring to internationalise towards foreign markets that had lower political uncertainty than the domestic one.

This paper complements previous research primarily on firm-specific factors that enhance internationalising firms’ survival and growth through a focus on the impact of a changing institutional-political environment at the home country-level.

Practitioners in the RE sector should analyse the risk of focusing only on the home market, as it can be too dependent on uncontrolled variations in domestic energy policy.

The findings indicate that a more stable and supportive, long-term perspective in the domestic RE policy is essential for the sustained growth and development of this emerging industry.

To analyse the strategy by which a number of purposefully selected companies were able to use international expansion as a survival-seeking strategy against a drastic policy-level change in the domestic RE market.

In this study, entrepreneurial internationalization in renewable energy industry as a high-tech and emerging industry was explored. The focus of this study is on firm level factors to understand how and why these companies entered the international markets and what are their challenges and difficulties in this process. To answer these questions, two main streams of literature were used: international entrepreneurship (IE) and sustainable entrepreneurship.

Case study methodology is selected for this research. Because this subject is new and empirical researches in renewable energy industry are scarce, a method to gather research and in-depth data was adopted. Following suggestions by Eisenhardt (1989), a multiple-case design method was used with nine cases of entrepreneurial companies in renewable energy industry from Spain.

Results show that in renewable energy industry firms, resources and capabilities such as need for funding and rapid commercialization are key factors that encourage companies to enter the international market. However, having access to the technological knowledge cannot be a compelling reason for internationalization of renewable energy companies from Spain. Moreover, the interaction between the large and small firms is an important factor that facilitates the process of internationalization.

In this study, the focus was only on firm level factors, whereas other levels of analysis such as entrepreneur, environment, policy scheme and industrial factors need further attention in future studies. Moreover, this study is only limited to Spanish companies, and future studies can be replicated in other context.

Findings of the study have significant theoretical and empirical implications. First of all, it explains the entrepreneurial internationalization by taking advantage of sustainable entrepreneurship literature. In addition, empirical results of this study are significantly important for entrepreneurs to implement effective internationalization strategy to survive. Findings of this study can help policy makers for designing a supportive scheme for further development of this industry in the international markets.

This paper explores the entrepreneurial internationalization of renewable energy companies as an emerging industry by taking advantage of two streams of literature: international entrepreneurship and sustainable entrepreneurship. The results show the phenomenon of early internationalization in pre-commercialization phase. These findings put emphasis on interaction between large and small firms in process of internationalization in this specific industry.

The study aims to fill a gap in the literature on the economic impact of industrial and international diversification on firm performance in the energy sector. Li et al. (2016) investigate firms listed in China, and this study analyzes firms listed in (Western) Europe.

A sample of 129 energy firms is extracted from Datastream and covers the period from January 2009 to December 2015. Univariate and multivariate regression analyses are used to determine a plausible relation of diversification on corporate performance. Also, the difference between renewable energy firms and conventional energy firms is explored.

A univariate analysis using both return on assets and Tobin's Q as a variable shows that renewable energy firms have a higher profitability than conventional energy firms. However, a multivariate analysis does not confirm this result. The authors also document a negative relation between diversification strategies and firm performance.

The study uses main industry codes. Yet, one might make a distinction between renewable energy and conventional energy amounts with corporations. Also, the authors cover financial crisis years. Researchers might take into account more recent years.

The findings of the study highlight the importance of short-term and long-term considerations for practitioners related to demand, the energy mix, oil prices and firm strategies.

The authors contribute to the debate and the literature when identifying similarities and differences between conventional energy firms and renewable energy firms in their application of diversification strategies and their (relation to) firm performance.

The study aims to investigate the relationship between renewable energy use and financial performance in non-financial companies in European countries.

This study examines a panel data set consisting of 1,919 firm-year observations of non-financial companies operating in 13 European nations, covering the period from 2014 to 2021. The study uses the ordinary least squares (OLS) and the two-stage least squares method (2SLS) as the baseline models and further enhances robustness with sub-sample analysis.

The results demonstrate a positive link between renewable energy use and financial performance, and these results hold up across different measurements, sub-sample analysis and model specifications, demonstrating their robustness. Furthermore, the results indicate that some factors such as the industry nature and environmental, social and governance (ESG) controversies have an impact on this positive association.

The findings are substantial for both policymakers and companies, highlighting the benefits of incorporating renewable energy into their operations for improved business success.

This study adds to the existing body of literature on the effect of environmental performance on a company’s success by focusing on a novel aspect – the correlation between renewable energy usage and firm performance. It responds to the recent request from researchers to investigate different aspects of sustainability, with a specific emphasis on renewable energy, which is a vital factor in reducing carbon emissions and improving financial performance.

The desire for a sustainable environment has led to the need to reduce carbon dioxide emissions and increase renewable energy usage. Empirical evidence generally shows that financial development has a significant effect on these two variables. However, little is known about how the financial strength of financial institutions influences them in the fight against climate change. This study aims to assess the effect of the financial strength of listed financial institutions on renewable energy consumption and carbon dioxide emissions in Ghana.

Regression analyses were used to estimate the effect of asset quality, credit management, return on equity/asset and firm size on renewable energy consumption and carbon dioxide emissions for data covering from 2009 to 2018.

The results revealed that return on equity reduces renewable energy consumption and increases carbon dioxide emissions. It is also found that credit risk management and asset quality positively influence renewable energy consumption but reduce carbon dioxide emissions in Ghana.

Policymakers need to identify profitable but less polluting ventures and draw the attention of financial institutions in the country. This may cause banks and other lending-giving institutions to desist from giving credits to support environmentally harmful ventures.

The paper assessed the effect that the financial strength of financial institutions has on renewable energy consumption and carbon dioxide emissions.

The purpose of this paper is to investigate impacts of policy instruments for market penetration of renewable technologies in South Africa. Based on the current debates about renewable energy policies and the comparative advantage of the country in terms of coal resources the author set up a framework focusing on renewable energy price subsidies, carbon tax and renewable energy portfolio standard.

Using a simulation model through a linear programming approach the paper assesses impacts of those policies on fossil fuel and renewable energy sectors via business‐as‐usual and policy option scenarios. The business‐as‐usual assumes that there are not policy instruments mobilized to promote adoption and diffusion of clean technologies instead of a policy scenario where such policies are included.

The results of the analysis show that when the coal‐based resources are integrated in the simulation process, only carbon tax and renewable energy price‐based subsidies promote a transition towards a sustainable energy production, therefore reduce the associated environmental damage.

Moreover, the paper also shows that in the case of carbon tax and renewable price subsidies, emission prices should be adequately scrutinized in order to guarantee a positive economic surplus.