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Assoc. Prof. Dr. Mustafa Özyeşil, a faculty member at the Faculty of Business Administration of our University, presented his study titled “Climate Policy Uncertainty, Green Bonds, and Stock Market Resilience: Evidence from European Listed Energy and Utility Firms” at the 11th International Congress on Contemporary Scientific Research, held in Finland between July 1–7, 2026.
The study examined the effects of climate policy uncertainty and the use of green bonds on the stock market resilience of publicly listed energy and utility companies operating in Europe. Within the scope of the research, 462 firm-year observations from 42 companies covering the period between 2015 and 2025 were analyzed using two-way fixed effects panel regressions, interaction models, and event study methods.
The findings revealed that climate policy uncertainty weakens companies’ market resilience and extends their recovery periods following financial shocks. In contrast, the use of green bonds was found to be an important financial resilience mechanism, particularly in limiting downside risks and enabling the faster restoration of market stability.
Highlighting the role of sustainable finance instruments in managing climate transition risks, the study provides important implications for investors, business executives, and policymakers
The research, which was presented to the congress in full-text format, is planned to be published in the proceedings book of the 11th International Congress on Contemporary Scientific Research.
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