The Impact of Lithium, Cobalt, and Nickel on the Diverse Automobile Market
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School of Business |
Bachelor's thesis
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Date
2023
Department
Major/Subject
Mcode
Degree programme
Rahoitus
Language
en
Pages
22 + 12
Series
Abstract
This thesis explores the relationship between stock performance of automobile manufacturers and battery metal prices, investigating several hypotheses. Nota-bly, manufacturers with EV-centric and diverse product lines with EV involve-ment exhibited significant betas for lithium, cobalt, and nickel, evidencing varied market dynamics. The variances in beta signs underscore the multifaceted na-ture of the automotive market, influenced by technology, investor behavior, re-gional policies, and mixed product offerings. The methodological framework involved executing individual OLS regressions for each company with an ex-panded Fama-French three-factor model, integrating battery metal factors to analyse the relationships of the market.Description
Thesis advisor
Lof, MatthijsKeywords
automobile manufacturing, electric vehicle, lithium, cobalt, nickel, battery metals