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Product Market Uncertainty and M&A Activity : Evidence from the Oil and Gas Sector
D. Barrows, Samuel - 2020
This study examines the impact of uncertainty on mergers and acquisition (M&A) activity. We focus on product market uncertainty in the oil and gas sector. Analysing this industry enables us to construct a natural forward-looking measure of product market uncertainty, namely the implied crude oil...
Persistent link: https://www.econbiz.de/10012833334
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Investment-uncertainty relationship in the oil and gas industry
Ahmadi, Maryam; Manera, Matteo; Sadeghzadeh, Mehdi - 2018
Recent studies on oil market demonstrate endogeneity of oil price by modeling it as a function of consumption and precautionary demands and producers’ supply. However, studies analysing the effect of oil price uncertainty on investment, do not disentangle uncertainties raised by underlying...
Persistent link: https://www.econbiz.de/10011824181
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Oil Beta Uncertainty and Global Stock Returns
Chen, Chun-Da; Demirer, Riza - 2022
This paper documents an economically and statistically significant positive premium for oil beta uncertainty in the cross-section of global equity returns. Using a battery of market and portfolio level tests, we show that oil beta uncertainty, measured by the total range spanned by the 95%...
Persistent link: https://www.econbiz.de/10014351672
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Downside Risk Optimization in Securitized Real Estate Markets
Kroencke, Tim Alexander - 2018
, most previous analysis has focused on regional diversification by applying the traditional mean-variance (MV) framework …
Persistent link: https://www.econbiz.de/10012940623
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Frontier Markets : An Emerging Opportunity for Diversifying Risks and Returns
Wawrzaszek, Joe - 2015
) countries offer attractive long-term growth and diversification potential. However, investors must balance these possible …
Persistent link: https://www.econbiz.de/10013037766
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Assessing the diversification risk of a single equity market : evidence from the largest European stock indexes
Nuhiu, Artor; Aliu, Florin; Peci, Bedri - In: International journal of management and economics 58 (2022) 1, pp. 3-16
Diversification of financial securities is considered a substantial element of portfolio risk. In this context, the … individual portfolios and later compared to the hypothetical common equity index. The results show diversification benefits …35, FTSE MIB, and FTSE100. In contrast, DAX, MDAX, and CAC40 on average tend to be less diversified. The diversification …
Persistent link: https://www.econbiz.de/10013277308
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Investment and uncertainty in the international oil and gas industry
Mohn, Klaus; Misund, Bård - In: Energy economics 31 (2009) 2, pp. 240-248
Persistent link: https://www.econbiz.de/10003832244
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Engineering and construction projects for oil and gas processing facilities : contracting, uncertainty and the economics of information
Berends, Kees - In: Energy policy 35 (2007) 8, pp. 4260-4270
Persistent link: https://www.econbiz.de/10003519959
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Risk factors and value at risk in publicly traded companies of the nonrenewable energy sector
Bianconi, Marcelo; Yoshino, Joe Akira - In: Energy economics 45 (2014), pp. 19-32
Persistent link: https://www.econbiz.de/10010504798
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How Do Firms Hedge Risks? Empirical Evidence from U.S. Oil and Gas Producers
Mnasri, Mohamed - 2013
This paper investigates the determinants of hedging strategy choice. We introduce different dynamic discrete choice frameworks with random effects to mitigate unobserved heterogeneity and state dependence. Using a new dataset on the hedging activities of 150 US oil and gas producers, we find...
Persistent link: https://www.econbiz.de/10013083771