Limits to international diversification in oil & gas - Domestic vs foreign asset control

Energy

Volumn 35, Issue 1, 2010, Pages 468-477

  Kretzschmar, Gavin L ^a   Sharifzyanova, Liliya ^a  

^a UNIVERSITY OF EDINBURGH   (United Kingdom)

Author keywords

Asset control; International diversification; Oil and gas fields

Indexed keywords

DIGITAL STORAGE; GAS INDUSTRY; NATURAL GAS FIELDS;

ASSET CONTROL; CASH FLOW; FIRM SIZE; FOREIGN ASSETS; INTERNATIONAL DIVERSIFICATION; LOSS OF CONTROL; OIL AND GAS FIELDS; OIL AND GAS SECTOR;

OIL WELL FLOODING;

FIRM SIZE; GAS INDUSTRY; INDUSTRIAL PRACTICE; OIL FIELD; OIL INDUSTRY;

EID: 70749088980     PISSN: 03605442     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.energy.2009.10.013     Document Type: Article

References (21)

1. Beneish M.D., Jansen I.P., Lewis M.F., and Stuart N.V. Diversification to mitigate expropriation in the tobacco industry. Journal of Financial Economics 89 (2008) 136-157
2. Berger P.G., and Ofek E. Diversification's effect on firm value. Journal of Financial Economics 37 (1995) 39-65
3. Christophe S.E., and Lee H. What matters about internationalization: a market-based assessment. Journal of Business Research 58 (2001) 638-643
4. Comment R., and Jarrell G.A. Corporate focus and stock returns. Journal of Financial Economics 37 (1995) 67-87
5. Durnev A., and Kim H.E. Explaining differences in the quality of governance among companies: evidence from emerging markets. Journal of Applied Corporate Finance 19 1 (2007) 29-37
6. Errunza V.R., and Senbet L.W. International corporate diversification, market valuation, and size-adjusted evidence. Journal of Finance 39 3 (1984) 727-743
7. Faccio M., and Lang L. The ultimate ownership of Western European corporations. Journal of Financial Economics 65 (2002) 365-395
8. Gowdy J., and Julia R. Technology and petroleum exhaustion: evidence from two mega-oilfields. doi:10.1111/j.1540-6261.2005.00749.x. URL. Energy, 0022-1082 32 2 (May 2007) 1448-1454
9. Hartley P., and Medlock K.B. A model of the operation and development of a National Oil Company. Energy Economics 30 (2008) 2459-2485
10. Holderness C.G. The myth of diffuse ownership in the United States. Review of Financial Studies 22 4 (2009) 1377-1408
11. Kretzschmar G.L., and Kirchner A. Recovery of hidden state participation effects on oil and gas asset values. European Journal of Finance 14 7-8 (2008) 755-789
12. Kretzschmar G.L., and Moles P. The effect of "private" and "public" risks on oilfield asset pricing: empirical insights into the Georgetown real option debate. Journal of Applied Corporate Finance 18 2 (2006) 36-45
13. Krezschmar GL, Sharifzyanova L. Ideology and ownership. University of Edinburgh and Yale University working paper; 2009.
14. La Porta R., Lopez-De-Silanes F., Shleifer A., and Vishny R. Corporate ownership around the world. Journal of Finance 54 2 (1999) 471-517
15. Laeven L., and Levine R. Complex ownership structures and corporate valuations. Review of Financial Studies 21 2 (2008) 579-604
16. Rose P.S. The diversification and cost effects of interstate banking. The Financial Review 31 2 (1996) 431-452
17. Ruiz-Moreno F., Mas-Ruiz F.J., and Nicolau-Gonzalez J.L. Two-stage choice process of FDI: ownership structure and diversification mode. Journal of Business Research 60 (2007) 795-805
18. Singh M., Davidson W.N., and Jo-Ann S. Corporate diversification strategies and capital structure. The Quarterly Review of Economics and Finance 43 (2003) 147-167
19. Stiglitz J.E. Dealing with oil corporations, chapter 2: what is the role of the state? (2007), Columbia University Press p. 23-52
20. Sullivan D. Measuring the degree of internationalization of the firm. Journal of International Business Studies 25 2 (1994)
21. Victor NM. On measuring the performance of National Oil Companies. Stanford University working paper, Program on Energy and Sustainable Development; September 2007.