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Treisman, Daniel - 2010

Russia is often considered a perfect example of the so-called "resource curse"--the argument that natural resource … around the world suggests that for countries like Russia with an established oil industry, even large increases in the scale … of mineral incomes have only a minor effect on the political regime. In addition, Russia--a country with an …

Persistent link: https://www.econbiz.de/10012462985

Theft and Taxes

Desai, Mihir A. - 2004

This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...

Persistent link: https://www.econbiz.de/10012467710

Do CEOs Set Their Own Pay? The Ones Without Principals Do

Bertrand, Marianne - 2000

We empirically examine two competing views of CEO pay. In the contracting view, pay is used to solve an agency problem: the compensation committee optimally chooses pay contracts which give the CEO incentives to maximize shareholder wealth. In the skimming view, pay is the result of an agency...

Persistent link: https://www.econbiz.de/10012471166

Oil and the Dollar

Krugman, Paul R. - 1980

This paper develops a simple theoretical model of the effect of an oil price increase on exchange rates. The model shows that the direction of this effect depends on a comparison of the direct balance of payments burden of the higher oil price with the indirect balance of payments benefits of...

Persistent link: https://www.econbiz.de/10012478581

The Propagation of Prices in the Oil Industry

Kisselgoff, Avram - 1978

The main thrust of this report is the development of a price record that would provide a basis for the identification of the areas of activity in the oil industry in which significant price changes have occurred, with expectation that this type of information could serve as a useful ingredient...

Persistent link: https://www.econbiz.de/10012478898

The Exorbitant Tax Privilege

Wright, Thomas - 2018

We estimate and attempt to explain the evolution of the taxes paid by U.S. multinationals on their foreign profits since 1966. In the oil sector, taxes paid to oil-producing States have been contained, allowing U.S. firms to earn high after-tax returns. Foreign taxes fell abruptly after the...

Persistent link: https://www.econbiz.de/10012480636

Are Energy Executives Rewarded For Luck?

Davis, Lucas W. - 2018

In this paper, we examine executive compensation data from 78 major U.S. oil and gas companies over a 24-year period. Perhaps in no other industry are the fortunes of so many executives so dependent on a single global commodity price. We find that a 10% increase in oil prices is associated with...

Persistent link: https://www.econbiz.de/10012481038

Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program

Hsieh, Chang-Tai - 2005

From 1997 through early 2003, the United Nations Oil for Food Program allowed Iraq to export oil in exchange for humanitarian supplies. We measure the extent to which this program was corrupted by Iraq's attempts to deliberately set the price of its oil below market prices in an effort to...

Persistent link: https://www.econbiz.de/10012467483

The Predictive Content of Energy Futures : An Update on Petroleum, Natural Gas, Heating Oil and Gasoline

Chinn, Menzie D. - 2005

This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline, heating oil markets and natural gas). In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot prices. We find that while...

Persistent link: https://www.econbiz.de/10012467654

Multinational Corporations, Transfer Prices, and Taxes : Evidence from the U.S. Petroleum Industry

Bernard, Jean-Thomas - 1989

Economic research on transfer-pricing behavior by multinational corporadons has emphasized theoretical modeling and institutional description. This paper presents the fiit systematic empirical analysis of transfer prices, using data from the petroleum industry. On the basis of oil imported into...

Persistent link: https://www.econbiz.de/10012476035