PhD defence: Alexander Kronies

This thesis concerns alternative investments in equity and energy markets. The first chapter (with Andreas Brøgger) documents that only some investors with skill earn high returns when investing sustainably. In the second chapter, I provide evidence that large wind turbines outperform their smaller peers as they yield higher cash flows per production unit. Finally, chapter three shows that the allocation of private capital to renewable energy projects is largely driven by subsidy structures and very specific risk exposures.

Primary Supervisor:
Professor Ken Bechmann
Department of Finance
Copenhagen Business School

Secondary Supervisor:
Fund Manager Lars Christian Gaarn-Larsen
Energi 30
 
Assessment Committee:
Professor Kristian Miltersen (Chair)
Department of Finance
Copenhagen Business School

Associate professor Jøril Mæland
Finance
Norwegian School of Economics

Wharton Private Equity Professor Bilge Yilmaz
Finance
The Wharton School , University of Pennsylvania

Thesis:
The thesis will be available from research.cbs.dk

Reception:
Due to latest Covid19 restrictions the CBS PhD School will unfortunately not be allowed to host a reception.