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Literature Review on the Topic: 'Influence of Oil Price on Alternative Energy Companies Valuation'

Research Purpose: In order to build a financial product on a sound theoretical basis, I analysed the literature available on or related to the topic: “Alternative energy and Oil”. The aim is to verify the hypothesis of correlation between the variations of the price of oil and alternative energy companies‟ stock valuation.Research Design: I searched on internet (Google scholar, SSRN, P&P) for papers related to the topic (selected by number of quotes), and went across a comprehensive analysis of the sub-topics present in the studies. I then looked at the similarities and contradictions in the conclusions and presented the regression methodology.Findings: The available literature on the topic, to this day, seems to agree to a positive and significant Beta on the variation of the price of oil, when looking at the alternative energy companies‟ stock value.Research Limitations: There are only three papers directly related to the specific topic, all the other analysed papers giving more depth to the subject but not answering the original question. Also, the turmoil of the financial market of the past years has provoked perturbations which make predictions less accurate.Research Implications: In the papers analysed, all academics and professionals agree to the fact that alternative energy will develop in the future as a necessity. It is important for an investor to understand the role that this sub-sector will play in the future. Furthermore, the role of the variation of the price of oil on the value of alternative energy companies‟ stock value is important and has to be taken in account when investing in these companies.Originality and Value: Due to the recency of the topic, very little conclusions have been made on the subject. By analysing the most recent and important papers on the broad topic and all the papers on the specific subject, I merged the conclusions of all the authors in this short paper.By reading this literature review, an academic or professional will have a sound understanding of the role and determinants of the alternative energy market.