We provide market evidence of the effects of reserve location on oil and gas (O&G) company returns. Prior studies have shown that commodity sector stock returns are affected by commodity prices. In a new contribution to natural resource valuation literature, returns for 51 O&G companies are...

Convention suggests that emerging market investment should provide commensurately lower risk or higher returns than comparable assets in developed countries. This study demonstrates that emerging markets contain regulatory specificities that challenge asset valuation model convergence and...