메뉴 건너뛰기




Volumn 36, Issue 10, 2008, Pages 3854-3861

Assessing the impact of oil prices on firms of different sizes: Its tough being in the middle

Author keywords

Firm size; Oil prices; Stock prices

Indexed keywords

CORRELATION THEORY; PUBLIC POLICY;

EID: 51349159552     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2008.07.019     Document Type: Article
Times cited : (134)

References (56)
  • 1
    • 0003512327 scopus 로고    scopus 로고
    • Acs Z. (Ed), Edward Elgar Publishers, Cheltenham
    • In: Acs Z. (Ed). Small Firms and Economic Growth (1996), Edward Elgar Publishers, Cheltenham
    • (1996) Small Firms and Economic Growth
  • 5
    • 0036318555 scopus 로고    scopus 로고
    • Oil price shocks and the US economy: where does the asymmetry originate?
    • Balke N.S., Brown S.P.A., and Yucel M.K. Oil price shocks and the US economy: where does the asymmetry originate?. Energy Journal 23 3 (2002) 27-52
    • (2002) Energy Journal , vol.23 , Issue.3 , pp. 27-52
    • Balke, N.S.1    Brown, S.P.A.2    Yucel, M.K.3
  • 6
    • 0010023511 scopus 로고
    • The relationship between return and market value of common stock
    • Banz R. The relationship between return and market value of common stock. Journal of Financial Economics 9 (1981) 3-18
    • (1981) Journal of Financial Economics , vol.9 , pp. 3-18
    • Banz, R.1
  • 7
    • 33750884158 scopus 로고    scopus 로고
    • Oil price risk and emerging stock markets
    • Basher S.A., and Sadorsky P. Oil price risk and emerging stock markets. Global Finance Journal 17 2 (2006) 224-251
    • (2006) Global Finance Journal , vol.17 , Issue.2 , pp. 224-251
    • Basher, S.A.1    Sadorsky, P.2
  • 9
    • 33947122567 scopus 로고    scopus 로고
    • Common and fundamental factors in stock returns of Canadian oil and gas companies
    • Boyer M.M., and Filion D. Common and fundamental factors in stock returns of Canadian oil and gas companies. Energy Economics 29 (2007) 428-453
    • (2007) Energy Economics , vol.29 , pp. 428-453
    • Boyer, M.M.1    Filion, D.2
  • 10
    • 0043035403 scopus 로고
    • Can small firms find and defend niches? A test of the porter hypothesis
    • Bradburd R.M., and Ross D.R. Can small firms find and defend niches? A test of the porter hypothesis. The Review of Economics and Statistics 71 (1989) 258-262
    • (1989) The Review of Economics and Statistics , vol.71 , pp. 258-262
    • Bradburd, R.M.1    Ross, D.R.2
  • 11
    • 0025497236 scopus 로고
    • Determinants of financial performance: a meta-analysis
    • Capon N., Farley J.U., and Hoenig S. Determinants of financial performance: a meta-analysis. Management Science 36 10 (1990) 1143-1159
    • (1990) Management Science , vol.36 , Issue.10 , pp. 1143-1159
    • Capon, N.1    Farley, J.U.2    Hoenig, S.3
  • 13
    • 84977738382 scopus 로고
    • Financial investment opportunities and the macroeconomy
    • Chen N.F. Financial investment opportunities and the macroeconomy. Journal of Finance 46 (1991) 529-554
    • (1991) Journal of Finance , vol.46 , pp. 529-554
    • Chen, N.F.1
  • 14
  • 15
    • 0030482026 scopus 로고    scopus 로고
    • A reprise of size and R&D
    • Cohen W.M., and Klepper S. A reprise of size and R&D. Economic Journal 106 437 (1996) 925-951
    • (1996) Economic Journal , vol.106 , Issue.437 , pp. 925-951
    • Cohen, W.M.1    Klepper, S.2
  • 16
    • 0242669934 scopus 로고    scopus 로고
    • Do oil price shocks matter? Evidence for some European countries
    • Cunado J., and Perez de Garcia F. Do oil price shocks matter? Evidence for some European countries. Energy Economics 25 (2003) 137-154
    • (2003) Energy Economics , vol.25 , pp. 137-154
    • Cunado, J.1    Perez de Garcia, F.2
  • 17
    • 0000817740 scopus 로고    scopus 로고
    • Sectoral job creation and destruction response to oil price changes
    • Davis S.J., and Haltiwanger J. Sectoral job creation and destruction response to oil price changes. Journal of Monetary Economics 48 (2001) 465-512
    • (2001) Journal of Monetary Economics , vol.48 , pp. 465-512
    • Davis, S.J.1    Haltiwanger, J.2
  • 18
    • 28444452243 scopus 로고    scopus 로고
    • Evidence on the nature and extent of the relationship between oil prices and equity values in the UK
    • El-Sharif I., Brown D., Burton B., Nixon B., and Russell A. Evidence on the nature and extent of the relationship between oil prices and equity values in the UK. Energy Economics 27 (2005) 819-830
    • (2005) Energy Economics , vol.27 , pp. 819-830
    • El-Sharif, I.1    Brown, D.2    Burton, B.3    Nixon, B.4    Russell, A.5
  • 20
    • 0030510350 scopus 로고    scopus 로고
    • Oil price volatility and the macroeconomy
    • Ferderer J. Oil price volatility and the macroeconomy. Journal of Macroeconomics 18 1 (1996) 1-26
    • (1996) Journal of Macroeconomics , vol.18 , Issue.1 , pp. 1-26
    • Ferderer, J.1
  • 21
    • 0000369716 scopus 로고
    • Sources of risk and expected returns in global equity markets
    • Ferson W.W., and Harvey C.R. Sources of risk and expected returns in global equity markets. Journal of Banking and Finance 18 (1994) 775-803
    • (1994) Journal of Banking and Finance , vol.18 , pp. 775-803
    • Ferson, W.W.1    Harvey, C.R.2
  • 22
    • 0009021859 scopus 로고
    • Predictability and time-varying risk in world equity markets
    • Ferson W.W., and Harvey C.R. Predictability and time-varying risk in world equity markets. Research in Finance 13 (1995) 25-88
    • (1995) Research in Finance , vol.13 , pp. 25-88
    • Ferson, W.W.1    Harvey, C.R.2
  • 23
    • 2442569001 scopus 로고    scopus 로고
    • Oil shocks and aggregate macroeconomic behavior: the role of monetary policy
    • Hamilton J.D., and Herrera A.M. Oil shocks and aggregate macroeconomic behavior: the role of monetary policy. Journal of Money, Credit and Banking 36 2 (2004) 265-286
    • (2004) Journal of Money, Credit and Banking , vol.36 , Issue.2 , pp. 265-286
    • Hamilton, J.D.1    Herrera, A.M.2
  • 24
    • 2442541371 scopus 로고    scopus 로고
    • Dynamic relationships among GCC stock markets and NYMEX oil futures
    • Hammoudeh S., and Aleisa E. Dynamic relationships among GCC stock markets and NYMEX oil futures. Contemporary Economic Policy 22 2 (2004) 250-269
    • (2004) Contemporary Economic Policy , vol.22 , Issue.2 , pp. 250-269
    • Hammoudeh, S.1    Aleisa, E.2
  • 25
    • 11244342422 scopus 로고    scopus 로고
    • Oil sensitivity and systematic risk in oil-sensitive stock indices
    • Hammoudeh S., and Huimin L. Oil sensitivity and systematic risk in oil-sensitive stock indices. Journal of Economics and Business 57 (2005) 1-21
    • (2005) Journal of Economics and Business , vol.57 , pp. 1-21
    • Hammoudeh, S.1    Huimin, L.2
  • 27
    • 0042033810 scopus 로고
    • Innovation, firm size and firm age
    • Hansen J.A. Innovation, firm size and firm age. Small Business Economics 4 (1992) 37-44
    • (1992) Small Business Economics , vol.4 , pp. 37-44
    • Hansen, J.A.1
  • 28
    • 39749184696 scopus 로고    scopus 로고
    • Oil prices and the stock prices of alternative energy companies
    • Henriques I., and Sadorsky P. Oil prices and the stock prices of alternative energy companies. Energy Economics 30 (2008) 998-1010
    • (2008) Energy Economics , vol.30 , pp. 998-1010
    • Henriques, I.1    Sadorsky, P.2
  • 29
    • 0030268594 scopus 로고    scopus 로고
    • What happened to the oil price macroeconomy relationship?
    • Hooker M.A. What happened to the oil price macroeconomy relationship?. Journal of Monetary Economics 38 (1996) 195-213
    • (1996) Journal of Monetary Economics , vol.38 , pp. 195-213
    • Hooker, M.A.1
  • 30
    • 0036000684 scopus 로고    scopus 로고
    • Are oil shocks inflationary? Asymmetric and nonlinear specifications versus changes in regime
    • Hooker M.A. Are oil shocks inflationary? Asymmetric and nonlinear specifications versus changes in regime. Journal of Money, Credit and Banking 34 (2002) 540-561
    • (2002) Journal of Money, Credit and Banking , vol.34 , pp. 540-561
    • Hooker, M.A.1
  • 32
    • 18744383600 scopus 로고    scopus 로고
    • The asymmetry of the impact of oil price shocks on economic activities: an application of the multivariate threshold model
    • Huang B.N., Hwang M.J., and Peng H.P. The asymmetry of the impact of oil price shocks on economic activities: an application of the multivariate threshold model. Energy Economics 27 (2005) 455-476
    • (2005) Energy Economics , vol.27 , pp. 455-476
    • Huang, B.N.1    Hwang, M.J.2    Peng, H.P.3
  • 33
    • 0039607955 scopus 로고    scopus 로고
    • Oil and the stock markets
    • Jones C.M., and Kaul G. Oil and the stock markets. Journal of Finance 51 2 (1996) 463-491
    • (1996) Journal of Finance , vol.51 , Issue.2 , pp. 463-491
    • Jones, C.M.1    Kaul, G.2
  • 34
    • 1942532833 scopus 로고    scopus 로고
    • Oil price shocks and the macroeconomy: what has been learned since 1986
    • Jones D.W., Leiby P.N., and Paik I.K. Oil price shocks and the macroeconomy: what has been learned since 1986. The Energy Journal 25 2 (2004) 1-32
    • (2004) The Energy Journal , vol.25 , Issue.2 , pp. 1-32
    • Jones, D.W.1    Leiby, P.N.2    Paik, I.K.3
  • 35
    • 0000419191 scopus 로고
    • Relative importance of economic factors in the US and Japanese stock markets
    • Kaneko T., and Lee B.S. Relative importance of economic factors in the US and Japanese stock markets. Journal of the Japanese and International Economies 9 (1995) 290-307
    • (1995) Journal of the Japanese and International Economies , vol.9 , pp. 290-307
    • Kaneko, T.1    Lee, B.S.2
  • 37
    • 0029481013 scopus 로고
    • Oil shocks and the macroeconomy: the role of price variability
    • Lee K., Ni S., and Ratti R.A. Oil shocks and the macroeconomy: the role of price variability. Energy Journal 16 4 (1995) 39-56
    • (1995) Energy Journal , vol.16 , Issue.4 , pp. 39-56
    • Lee, K.1    Ni, S.2    Ratti, R.A.3
  • 38
    • 0042403520 scopus 로고    scopus 로고
    • Monetary policy, oil price shocks, and the Japanese economy
    • Lee B.R., Lee K., and Ratti R.A. Monetary policy, oil price shocks, and the Japanese economy. Japan and the World Economy 13 (2001) 321-349
    • (2001) Japan and the World Economy , vol.13 , pp. 321-349
    • Lee, B.R.1    Lee, K.2    Ratti, R.A.3
  • 40
    • 0000712639 scopus 로고
    • Oil and the macroeconomy when prices go up and go down: an extension of Hamilton's results
    • Mork A. Oil and the macroeconomy when prices go up and go down: an extension of Hamilton's results. Journal of Political Economy 97 (1989) 740-744
    • (1989) Journal of Political Economy , vol.97 , pp. 740-744
    • Mork, A.1
  • 41
    • 0036095555 scopus 로고    scopus 로고
    • Returns to scale in small and large US manufacturing establishments: further evidence
    • Nguyen S.V., and Lee SH. Returns to scale in small and large US manufacturing establishments: further evidence. Small Business Economics 19 (2002) 41-50
    • (2002) Small Business Economics , vol.19 , pp. 41-50
    • Nguyen, S.V.1    Lee, SH.2
  • 42
    • 0141797231 scopus 로고
    • Returns to scale in small and large US manufacturing establishments
    • Nguyen S.V., and Reznek A.P. Returns to scale in small and large US manufacturing establishments. Journal of Small Business Economics 1 (1991) 29-46
    • (1991) Journal of Small Business Economics , vol.1 , pp. 29-46
    • Nguyen, S.V.1    Reznek, A.P.2
  • 43
    • 0035450104 scopus 로고    scopus 로고
    • Oil price shocks, stock markets, economic activity and employment in Greece
    • Papapetrou E. Oil price shocks, stock markets, economic activity and employment in Greece. Energy Economics 23 (2001) 511-532
    • (2001) Energy Economics , vol.23 , pp. 511-532
    • Papapetrou, E.1
  • 44
    • 0000281418 scopus 로고
    • Irreversibility, uncertainty and investment
    • Pindyck R. Irreversibility, uncertainty and investment. Journal of Economic Literature 29 (1991) 1110-1148
    • (1991) Journal of Economic Literature , vol.29 , pp. 1110-1148
    • Pindyck, R.1
  • 45
    • 49549135545 scopus 로고
    • The arbitrage theory of capital asset pricing
    • Ross S. The arbitrage theory of capital asset pricing. Journal of Economic Theory 13 (1976) 341-360
    • (1976) Journal of Economic Theory , vol.13 , pp. 341-360
    • Ross, S.1
  • 46
    • 84977718754 scopus 로고
    • Information and volatility: the no-arbitrage martingale approach to timing and resolution irrelevance
    • Ross S. Information and volatility: the no-arbitrage martingale approach to timing and resolution irrelevance. Journal of Finance 44 (1989) 1-17
    • (1989) Journal of Finance , vol.44 , pp. 1-17
    • Ross, S.1
  • 47
    • 0032702341 scopus 로고    scopus 로고
    • Oil price shocks and stock market activity
    • Sadorsky P. Oil price shocks and stock market activity. Energy Economics 21 5 (1999) 449-469
    • (1999) Energy Economics , vol.21 , Issue.5 , pp. 449-469
    • Sadorsky, P.1
  • 48
    • 0035076490 scopus 로고    scopus 로고
    • Risk factors in stock returns of Canadian oil and gas companies
    • Sadorsky P. Risk factors in stock returns of Canadian oil and gas companies. Energy Economics 23 (2001) 17-28
    • (2001) Energy Economics , vol.23 , pp. 17-28
    • Sadorsky, P.1
  • 49
    • 0037275320 scopus 로고    scopus 로고
    • The macroeconomic determinants of technology stock price volatility
    • Sadorsky P. The macroeconomic determinants of technology stock price volatility. Review of Financial Economics 12 2 (2003) 191-205
    • (2003) Review of Financial Economics , vol.12 , Issue.2 , pp. 191-205
    • Sadorsky, P.1
  • 51
    • 33745662678 scopus 로고    scopus 로고
    • Modelling and forecasting petroleum futures volatility
    • Sadorsky P. Modelling and forecasting petroleum futures volatility. Energy Economics 28 (2006) 467-488
    • (2006) Energy Economics , vol.28 , pp. 467-488
    • Sadorsky, P.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.