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Pro-Cyclical Petroleum Investments and Cost Overruns in Norway
Dahl, Roy Endré; Lorentzen, Sindre; Oglend, Atle; … - 2016
Development projects in the oil industry often have cost overruns. Through analysis of data from Norwegian development projects in the petroleum industry, this paper investigates the common effect of business cycle developments on cost overruns. Lack of capacity and expertise in a tight supplier...
Persistent link: https://www.econbiz.de/10011555528
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Forecastability and Statistical Characteristics of Aggregate Oil and Gas Investments on the Norwegian Continental Shelf
Lorentzen, Sindre; Osmundsen, Petter - 2016
We investigate the potential for statistical forecasting of aggregate oil and gas investment on the Norwegian Continental Shelf (NCS). A unique and detailed dataset containing data from 109 different fields on the NCS between 1970 and 2015 was employed. A set of 1080 autoregressive distributed...
Persistent link: https://www.econbiz.de/10011555555
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Cost Performance on the Norwegian Continental Shelf
Lorentzen, Sindre; Osmundsen, Petter - 2016
The oil and gas sector plays a crucial role in the Norwegian economy. It accounts for a very large proportion of gross domestic product, government revenues, investment and exports. A sharp fall in oil prices has had a significant impact on the economy and focused great attention on the cost...
Persistent link: https://www.econbiz.de/10011555594
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Petroleum Tax Competition Subject ot Capital Rationing
Osmundsen, Petter; Løvås, Kjell; Emhjellen, Magne - 2017
The recent dramatic fall in oil prices has led to extensive capital rationing in international oil companies, and subsequent fierce competition between resource extraction countries to attract scarce investment. This situation is not adequately addressed by the large literature on international...
Persistent link: https://www.econbiz.de/10011657111
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The capital structure of multinational companies under tax competition
Panteghini, Paolo M. - 2006
This article studies the relationship between debt policies of multinational companies (MNCs) and governments' tax strategies. In the first part, it is shown that the ability to shift income from high- to low-tax countries affects MNCs' financial choices. In the second part we show how MNCs'...
Persistent link: https://www.econbiz.de/10010263912
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Business groups in emerging markets: financial control and sequential investment
Hainz, Christa - 2006
Business groups in emerging markets perform better than unaffiliated firms. One explanation is that business groups substitute some functions of missing institutions, for example, enforcing contracts. We investigate this by setting up a model where firms within the business group are connected...
Persistent link: https://www.econbiz.de/10010263949
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The impact of tax uncertainty on irreversible investment
Niemann, Rainer - 2007
Tax legislation, fiscal authorities, and tax courts create tax uncertainty by frequent tax reforms and various different interpretations of the tax law. Moreover, investors generate model-specific tax uncertainty by using simplified models that anticipate the actual tax base incorrectly. I...
Persistent link: https://www.econbiz.de/10010264189
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Financing conditions, the concept of innovation capacity and the innovative activity of firms
Paula, Georg - 2010
measure for the innovative activity of a firm to identify the effects of credit constraints on the innovation behaviour of … financing conditions do not foster it. To explain this novel result we extend the usual theory of innovation activity by … rigidities with respect to a firm's individual innovation capacity, which leads to a differentiation between a long run and a …
Persistent link: https://www.econbiz.de/10010275051
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Profit shifting by debt financing in Europe
Barion, Francesca; Miniaci, Raffaele; Panteghini, Paolo M. - 2010
This article aims at analyzing the link between subsidiaries' capital structure and taxation in Europe. First we introduce a trade-off model, which studies a MNCs' financial strategy and shows how debt policy allows multinational groups to shift profits from low-tax to high-tax jurisdictions. By...
Persistent link: https://www.econbiz.de/10010276152
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Oil Project Selection by Metrics
Emhjellen, Magne; Osmundsen, Petter - 2016
The recent fall in oil prices has led to extensive capital rationing, and thereby given rise to a renewed focus on parameters for project selection which supplement net present value. While the financial crisis was creating capital constraints, the oil industry seemed to be paying great...
Persistent link: https://www.econbiz.de/10011480481