Convenience Yield Value of International Emission Allowance Based on Call Options

<table class="table-group" id="tab2"><tr><td><table class="table"><tr><td class="thead-hr" colspan="6"><hr/></td></tr><tr class="thead"><td align="left">Coefficient</td><td align="center"><span style="width: 41.549999px;"><svg height="15.5125" id="M47" style="vertical-align:-3.13504pt" version="1.1" viewbox="0 0 41.549999 15.5125" width="41.549999" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
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<g transform="matrix(.017,-0,0,-.017,.062,7.675)"><path d="M545 106q-67 -118 -134 -118q-24 0 -40 37.5t-30 129.5h-2q-47 -72 -103 -119.5t-108 -47.5q-47 0 -76 45.5t-29 119.5q0 113 85 204t174 91q47 0 70 -33.5t43 -119.5h3q32 47 80 140l55 13l10 -9q-47 -80 -138 -201q17 -99 27.5 -136t22.5 -37q23 0 69 61zM333 204
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</svg></span></td><td align="center">−3.759*** (−1.022)</td><td align="center">−2.201*** (−2.781)</td><td align="center">−1.115** (−1.984)</td><td align="center">−0.649** (−2.131)</td><td align="center">−0.491** (−2.210)</td></tr><tr class="table-tr"><td colspan="6"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

Regression results between price spread and convenience yield of emission allowance.

Journal of Computational Environmental Sciences

tab2

Table 2

Table 2: Convenience Yield Value of International Emission Allowance Based on Call Options 