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Concerns about global warming and climate change are generating interest in renewable energy measures with the purpose to minimize environmental impact. Promoting renewable energy production becomes indispensable since its represent a tiny fraction of energy consumed. The purpose of this study is to identify the performance determinants are divided in country-specific advantages and firm-specific advantages. Companies were selected from Bloomberg and filtered due to its information availability from COMPUSTAT to construct a Panel Data structure.
The results proved that both country level (shares of renewable and energy consumption) and firm level (market capitalization, employee growth rate and capital intensity) determinants were significant in the renewable energy industry. Through the analysis, itâ€™s possible to realize that return on assets itâ€™s a performance measure with long term results, but unlike it, gross profit margin is variable that demonstrate short term results. We conclude that renewable energy industry has a great potential due to its results performed.
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