Discover IPLUSO and Professor Rui Dias’s scientific contribution to understanding sustainable financial markets
The article “Do Investors Tend to Overreact when Investing in Clean Energy Stock Indices?” was published in the February 2025 issue of the International Journal of Energy Economics and Policy (Vol. 15, No. 2).
Among the authors is Professor Rui Dias, researcher at the Polytechnic Institute of Lusophony (IPLUSO). The study analysed investor behaviour between February 2022 and May 2024 across several clean energy stock indices, such as Clean Energy Fuels (CLNE) and the Global Clean Energy Index (GCEI). The results show that both indices exhibited negative autocorrelation, suggesting that investors overreacted to new information, contradicting the market efficiency hypothesis during certain periods.
On the other hand, the ETF PWYF and the Dow Jones Industrial Average (DJI) maintained patterns consistent with market equilibrium, showing no evidence of irrational reactions. The study highlights that the geopolitical context, notably the invasion of Ukraine in 2022, may have amplified sensitivity in clean energy markets. This work reinforces Professor Rui Dias’s position in research on sustainable financial markets and investor behaviour under uncertainty, contributing to economic literacy in critical areas of the energy transition.
IPLUSO congratulates this scientific contribution, which exemplifies the relevance of its academic community in producing knowledge with international impact, promoting an integrated approach to economics, sustainability and financial innovation.
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