| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Long-run Models of Oil Stock Prices | |
| Matteo Manera; Alessandro Lanza; Margherita Grasso; Massimo Giovannini | |
| 发表日期 | 2003 |
| 出处 | Energy: Resources and Markets |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | The identification of the forces that drive oil stock prices is extremely important given the size of the Oil&Gas industry and its links with the energy sector and the environment. In the next decade oil companies will have to deal with international policies to contrast climate change. This issue is likely to affect companies' shareholder values. In this paper we focus on the long-run financial determinants of the stock prices of six major oil companies (Bp, Chevron-Texaco, Eni, Exxon-Mobil, Royal Dutch Shell, Total-Fina-Elf) using multivariate cointegration techniques and vector error correction models. Weekly oil stock prices are analyzed together with the relevant stock market indexes, exchange rates, spot and future oil prices over the period January 1998- April 2003. The empirical results confirm the statistical significance of the major financial variables in explaining the long-run dynamics of oil companies' stock values. |
| 特色分类 | C32,L71,Q30,Q40 |
| 关键词 | Cointegration,Vector error correction models,Oil companies,Oil stock prices,Hydrocarbon fuels,Energy,Non-renewable resources,Environment |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/long-run-models-of-oil-stock-prices/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116924 |
| 推荐引用方式 GB/T 7714 | Matteo Manera,Alessandro Lanza,Margherita Grasso,et al. Long-run Models of Oil Stock Prices. 2003. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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