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Limits to International Diversification in Oil and Gas - Domestic vs. Foreign Asset Control
Kretzschmar, Gavin Lee - 2015
Evidence is provided of the effects of international diversification on global asset ownership and control. We show … that international geographic diversification in the oil and gas sector comes at an important cost, lower control over … to isolate variables underpinning asset ownership, demonstrating that international diversification increases with firm …
Persistent link: https://www.econbiz.de/10012707338
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More for Asia : Rebalancing World Oil and Gas
Mitchell, John V. - 2012
The oil and gas industry is set to undergo a decisive transition over the next 10 years as global balances of demand and investment shift towards Asia and away from Europe and North America.These are sectors where geography matters and such a transition will have major geopolitical implications...
Persistent link: https://www.econbiz.de/10013102755
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Does Ownership Matter? The Performance and Efficiency of State Oil vs. Private Oil (1987-2006)
Wolf, Christian O. H. - 2009
This paper investigates the existence of ownership effects in the global oil and gas industry, i.e. whether there are systematic performance and efficiency differentials between National Oil Companies (NOCs) and privately-owned International Oil Companies (IOCs). After discussing key issues of...
Persistent link: https://www.econbiz.de/10014217790
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Diesel, Conventional Gas, Jet Fuel, and Natural Gas Equity and Commodity Project Risk Across the Oil and Gas Industry
Carson, Scott Alan - 2022
Oil and gas company returns are compared between upstream, midstream, and down-stream sectors from 2000 through 2020. Crude oil, natural gas, and distillate returns reflect project risk, infrastructure, and conditions within the industry. Equity, commodity, and distillate markets positively...
Persistent link: https://www.econbiz.de/10014240484
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The systemic risk of US oil and natural gas companies
Massimiliano, Caporin; Fulvio, Fontini; Roberto, Panzica - 2022
We analyse the evolution of the systemic risk impact of oil and natural gas companies since 2000. This period is characterised by several events that affected energy source markets: the real effect of the global financial crisis, the explosion of shale production and the diffusion of the...
Persistent link: https://www.econbiz.de/10013358988
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Towards a Composite Political Risk Indicator for Country Oil and Gas Industry Stock Market Sectors
Simpson, John L. - 2015
The purpose of this paper is to test an international oil and gas market model, hypothesised to arrive at new indicator of pure composite political risk for country oil and gas sectors. Current political risk ratings are largely subjectively quantified and are not frequently published. Investors...
Persistent link: https://www.econbiz.de/10013039004
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Dynamic Asymmetric Optimal Portfolio Allocation between Energy Stocks and Energy Commodities : Evidence from Clean Energy and Oil and Gas Companies
Asl, Mahdi Ghaemi - 2020
measures for SPGCE and SPGO diversified portfolios. We find dynamic diversification advantages of energy commodities …
Persistent link: https://www.econbiz.de/10012827242
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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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Global Diversification with Local Stocks : A Road Less Traveled
Eun, Cheol S. - 2017
global integration at the firm-level and study its implications for diversification. Specifically, the adjusted R-square, our … minimally driven by the common global factors, investors can significantly benefit from diversification within developed markets …. Thus, the diversification gains solely inferred from the market indices much understate the potential benefits that world …
Persistent link: https://www.econbiz.de/10012952863
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Do Foreign Stocks Substitute for International Diversification?
Bermejo, Vicente J. - 2019
diversification benefits across industries and countries. We document a substantial increase in the number and the market value of … stocks in host countries allows domestic investors to increase their international diversification from home by investing in … investments offers an effective substitute for international diversification, and significantly contributes towards increasing the …
Persistent link: https://www.econbiz.de/10012901836