Do political risks harm development of oil fields?

J 2019

Do political risks harm development of oil fields?

BOE, Kristine; Therese JORDAL; Štěpán MIKULA a Peter MOLNAR

Základní údaje

Originální název

Do political risks harm development of oil fields?

Autoři

BOE, Kristine; Therese JORDAL; Štěpán MIKULA a Peter MOLNAR

Vydání

Journal of Economic Behavior & Organization, AMSTERDAM, ELSEVIER SCIENCE BV, 2019, 0167-2681

Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Obor

50202 Applied Economics, Econometrics

Stát vydavatele

Nizozemské království

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Impakt faktor

Impact factor: 1.591

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14560/19:00108871

Organizační jednotka

Ekonomicko-správní fakulta

Klíčová slova anglicky

Investments; Oil and gas; Political risks; Financial development

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 8. 3. 2024 13:01, Mgr. Pavlína Kurková

Anotace

V originále

We examine the impact of political risks and financial development on investments in the petroleum industry utilizing a unique dataset of investments in individual oil and gas fields around the world. We find that the expected time to investment is shorter in countries that are politically stable, have solid property rights protection and more developed financial systems. Political risks have the strongest impact on multinational companies, whereas financial development matters only for domestic national oil companies. At the company level we find that expected time to investment is shorter for companies with higher valuation and lower debt. Moreover, companies are more likely to invest in countries where they invested recently and less likely to invest in countries where their competitors invested recently. (C) 2018 Elsevier B.V. All rights reserved.

Citovat

BOE, Kristine; Therese JORDAL; Štěpán MIKULA a Peter MOLNAR. Do political risks harm development of oil fields? Journal of Economic Behavior & Organization. AMSTERDAM: ELSEVIER SCIENCE BV, 2019, roč. 157, č. 1, s. 338-358. ISSN 0167-2681. Dostupné z: https://doi.org/10.1016/j.jebo.2018.01.005.

@article{1436296,
   author = {Boe, Kristine and Jordal, Therese and Mikula, Štěpán and Molnar, Peter},
   article_location = {AMSTERDAM},
   article_number = {1},
   doi = {https://doi.org/10.1016/j.jebo.2018.01.005},
   keywords = {Investments; Oil and gas; Political risks; Financial development},
   language = {eng},
   issn = {0167-2681},
   journal = {Journal of Economic Behavior & Organization},
   title = {Do political risks harm development of oil fields?},
   url = {http://www.sciencedirect.com/science/article/pii/S0167268118300052},
   volume = {157},
   year = {2019}
}

TY  - JOUR
ID  - 1436296
AU  - Boe, Kristine - Jordal, Therese - Mikula, Štěpán - Molnar, Peter
PY  - 2019
TI  - Do political risks harm development of oil fields?
JF  - Journal of Economic Behavior & Organization
VL  - 157
IS  - 1
SP  - 338-358
EP  - 338-358
PB  - ELSEVIER SCIENCE BV
SN  - 01672681
KW  - Investments
KW  - Oil and gas
KW  - Political risks
KW  - Financial development
UR  - http://www.sciencedirect.com/science/article/pii/S0167268118300052
L2  - http://www.sciencedirect.com/science/article/pii/S0167268118300052
N2  - We examine the impact of political risks and financial development on investments in the petroleum industry utilizing a unique dataset of investments in individual oil and gas fields around the world. We find that the expected time to investment is shorter in countries that are politically stable, have solid property rights protection and more developed financial systems. Political risks have the strongest impact on multinational companies, whereas financial development matters only for domestic national oil companies. At the company level we find that expected time to investment is shorter for companies with higher valuation and lower debt. Moreover, companies are more likely to invest in countries where they invested recently and less likely to invest in countries where their competitors invested recently. (C) 2018 Elsevier B.V. All rights reserved.
ER  -

BOE, Kristine; Therese JORDAL; Štěpán MIKULA a Peter MOLNAR. Do political risks harm development of oil fields? \textit{Journal of Economic Behavior \&{} Organization}. AMSTERDAM: ELSEVIER SCIENCE BV, 2019, roč.~157, č.~1, s.~338-358. ISSN~0167-2681. Dostupné z: https://doi.org/10.1016/j.jebo.2018.01.005.

Přehled o publikaci