Oil and Gas Economics and Management
Maryam Ayoubi; Mohammad Naghizadeh; Seyyed Habibolah Tabatabaeian; Jafar Towfighi
Abstract
Technological learning and the drive to self-sufficiency in different industries emphasize the role of companies in the knowledge acquisition from external sources. Iran's petroleum industry is also a suitable case to study in this area, given the large firms on the one hand and the long-term historical ...
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Technological learning and the drive to self-sufficiency in different industries emphasize the role of companies in the knowledge acquisition from external sources. Iran's petroleum industry is also a suitable case to study in this area, given the large firms on the one hand and the long-term historical partnerships with foreign companies on the other. Some of the industry's achievements, such as sustainability under sanctions, the country's largest source of export and some recent breakthroughs, particularly in the registration of international patents and localization of various technologies, show the success of learning efforts. This study, which examines the learning processes to joint R&D (JRD) projects in the petroleum industry, analyzes the path of technological learning in this industry using a mixed method approach and multi case study method. For this purpose, four successful JRD projects in technological learning in upstream and downstream are selected and 16 interviews are conducted with project managers and experts of selected projects and using the JRD's life cycle to present a technological learning model in JRDs. The results of theme analysis of interviews show that the most important and effective component of the model is "effective factors". The most affected component is "types of learning". Also, the most effective factors and the most effective learning mechanism are "absorption capability", "cultural homogeneity" and "learning by interacting" Respectively.
Oil and Gas Economics and Management
Ali Panahi; Amin Habibirad; Saeed Safari
Abstract
Project portfolio management is a comprehensive framework for decision making and selecting the portfolio of projects to achieve the goals of the organization by considering resource constraints. The importance of this issue in Iran's oil and gas industry is even more remarkable than ever due to ...
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Project portfolio management is a comprehensive framework for decision making and selecting the portfolio of projects to achieve the goals of the organization by considering resource constraints. The importance of this issue in Iran's oil and gas industry is even more remarkable than ever due to its unique position in the country's economy, capital-intensive and capital budget constraints that have been intensified in recent years. Identifying and defining different scenarios for each oil and gas field, determining the parameters of the mathematical model, the required data to calculate the parameters of the model and the process and methods of identifying this data, indicate the distinction and necessity of this research. This study is an applied research in terms of objective, using mathematical modeling approach, has provided a pattern to determine the optimal portfolio of capital plans of oil and gas companies. The research method is case study which has studied one of the most important oil and gas producing companies in the country and the only offshore company. In this study, a framework for selecting the optimal portfolio of capital projects is determined and after gathering required data, the zero-one integer linear mathematical programming model with the objective function of maximizing the net present value from fields (as the strategic goal of company) by considering investment constraints was designed and solved by GAMS software. Finally, according to the defined constraint, the best investment mode for each field was identified and the optimal portfolio was defined.
Oil and Gas Economics and Management
Reza Ashtari; Maryam Darvishi; Ghasem Bakhshandeh; Mohammad Hemati
Abstract
Considering the limited resources available, firms must rank their most distinctive capabilities in order to succeed in entering international markets. This research aimed at prioritizing transnational capabilities including marketing, managerial, human resources, production, financial, logistics, research ...
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Considering the limited resources available, firms must rank their most distinctive capabilities in order to succeed in entering international markets. This research aimed at prioritizing transnational capabilities including marketing, managerial, human resources, production, financial, logistics, research and development, quality and standards and consultation and interaction with the government affecting on the entry of the Iranian steel pipe manufacturers producing gas and oil transit steel pipes into international markets. The study population consisted of experts and procurement, business and marketing managers of the 8 biggest oil and gas steel pipe manufacturers working in Iran. Two pair-wise comparison questionnaires employed to collect the required data. Fuzzy Decision Making Trial & Error Laboratory (FDEMATEL) and Fuzzy Analytic Network Process (FANP) techniques used to analyze the data. The results revealed that the marketing (Net Weight=0.225) and human resources (Net Weight =0.035) capabilities attained the highest and lowest priorities, respectively. The paper is sharing the value creation by presenting a potential process including systematic techniques for ranking transnational capabilities to enter the international markets considering the competitive environment.
Oil and Gas Economics and Management
Peiman Farahani; Alireza Moini; Ruhollah Akbari
Abstract
Paying attention to special opportunities and trying to enumerate existing capabilities at the heart of regions by using the scientific and technological capacities available to them are some of the instances in which the shortfalls in development programs can be eliminated and the way can be paved for ...
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Paying attention to special opportunities and trying to enumerate existing capabilities at the heart of regions by using the scientific and technological capacities available to them are some of the instances in which the shortfalls in development programs can be eliminated and the way can be paved for a balanced progress at the local level with the fair distribution of opportunities. To this end, a transition from first (Education oriented) and second (Education and research oriented) generation universities, towards third generation (3G) universities which, in addition to education and research, actively seek to impact society and the economy, is one of the most central issues which can bring about full scale, dynamic, and sustainable progress in the regions based on science and technology. As a first step in the present research, attributes in third generation universities impacting regional progress have been examined by studying the resources. Using the Delphi method and Shannon’s entropy, the mentioned components and their weight were examined based on the opinions of 63 well-known experts active in the national oil industry and specialists in universities, and research, science and technology centers affiliated to the industry. Twenty-eight basic components and six principal components were approved in the survey of experts. Of these, three were prioritized and given weight in the following order:1) Formulating regional endogenous innovation and value creation ecosystems, 2) designing and implementing a regional skills, education, and training system, and 3) developing organizational capacities according to the new functions of regional universities.
Oil and Gas Economics and Management
Hamid Alizadeh; Kambiz Heidarzadeh; Mohsen Khounsiavash; Rouhollah Zaboli
Abstract
One of the main strategies in oil industries management is the evaluation of the relationships between the customers and employees. To do so, the interpretive paradigm, the qualitative approach, and the Grounded Theory Approach have been used. As for the qualitative approach, snowball sampling has been ...
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One of the main strategies in oil industries management is the evaluation of the relationships between the customers and employees. To do so, the interpretive paradigm, the qualitative approach, and the Grounded Theory Approach have been used. As for the qualitative approach, snowball sampling has been used, and the latent content analysis technique has been used to analyze the in-depth reviews, helping to code and identify the employees’ cognitive appraisal indices. Also, as for the quantitative approach, simple random sampling was used, with a structural equation model used for data analysis. The results and findings of the study indicate that the top managers in Iran Petroleum Products Distribution Company, especially those in the Human Resource Development, Commercial, and Research & Technology sections, can use the model extracted in the current study as well as the suggestions provided, to pay more attention to the mental health of the Frontlie Employees (FLEs). They can also use the results to know how the employees deal with the customers’ aggression and abuse. Hence, the current study can be useful for the oil industries researchers.
Oil and Gas Economics and Management
Maria Hamidian; Hasan Darvish; Mohammad Javad Hozoori; Mojtaba Rafiei
Abstract
The world is presently witnessing a shift in approach to organizational jobs and structures towards temporary and flat structures. Accordingly, people’s careers and how they are managed are changing in organizations. Understanding career anchors as a way to discover self-image and external feedback ...
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The world is presently witnessing a shift in approach to organizational jobs and structures towards temporary and flat structures. Accordingly, people’s careers and how they are managed are changing in organizations. Understanding career anchors as a way to discover self-image and external feedback of behavior can be effective in personal and organizational decisions. This research is an attempt to understand career anchors among the employees of National Iranian Oil Company, which is one of the most important economic organizations in Iran, using a mixed-methods approach. In the qualitative phase, 30 interviews were subjected to content analysis, which resulted in identifying 14 categories. The four categories of career stability, halal income, God satisfaction, and dedication were not observed in the research literature. The reliability of the qualitative data was estimated at 0.853 by William Scott’s method. In the quantitative phase, a questionnaire, which was based on the standard CIO2 questionnaire of Schein (1990) and some self-designed questions for the newly identified anchors, was used for data collection from a sample of 200 people. The questionnaire’s reliability was estimated by Cronbach’s alpha. It was observed that career stability and halal income were the top-ranked career anchors of the studied employees.
Oil and Gas Economics and Management
Farshid Abolhasani; Fataneh Alizadeh Meshkani; Leila Andervazh
Abstract
Nowadays, supply chains are highly vulnerable and prone to various risks due to geographical expansion and the complexity of communication networks. Sustainability in supply chains is increasingly seen as part of supply chain management. Sustainability has become a necessity, and every supply chain needs ...
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Nowadays, supply chains are highly vulnerable and prone to various risks due to geographical expansion and the complexity of communication networks. Sustainability in supply chains is increasingly seen as part of supply chain management. Sustainability has become a necessity, and every supply chain needs sustainability. However, the supply chain has a breadth and complexity of indicators. This paper aims to provide a model for evaluating the impact of the sustainable supply chain on organizational performance and efficiency in the National Iranian South Petroleum Company (NISOC). This study consists of two quantitative studies and a qualitative stage by designing several questions and using a mixed research method. The qualitative stage uses grounded theory methods following a systematic review of the literature on sustainable supply chain management and its adaptation to the local needs of the sustainable supply chain in one of the country’s largest oil companies. The statistical population of the research includes all employees of the NISOC with an unlimited number, of which 384 subjects are randomly selected as samples. In this study, a questionnaire is used as the data collection tool. The questionnaire designed in this research is based on a 5-point Likert scale. Options range from strongly agree to disagree strongly. The research hypotheses are tested using SmartPLS software. According to the results, the organizational performance and efficiency in the NISOC are affected by the green supply chain, industry supply chain, macro policies, socioeconomic factors, organizational factors, political factors, technology, manufactured products, customers, and supply chain failures. As shown in this study, using sustainable approaches to the supply chain of the petroleum company improves the situation of this organization and increases its effectiveness and efficiency. Further, the performance of individual components of organizations increases due to the sustainability model in this company
Oil and Gas Economics and Management
Saeed Baghdadi; Abbas Khamseh; Hesamedin Madani
Abstract
Knowledge and technology can be used to gain business benefits in organizations. In this regard, in addition to using technology in the production of products, technology commercialization to transfer technology to other organizations is considered a practical approach to gaining business benefits. Accordingly, ...
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Knowledge and technology can be used to gain business benefits in organizations. In this regard, in addition to using technology in the production of products, technology commercialization to transfer technology to other organizations is considered a practical approach to gaining business benefits. Accordingly, this study aims to identify and prioritize commercialization components in Iran’s gas and oil industry to transfer technology to other industries and organizations since there is high potential to commercialize and transfer technology in this industry. After reviewing the previous literature and interviewing experts using semi-structured questions and the snowball sampling method, 46 attributes are detected and classified as 10 main components. Then, the confirmatory factor analysis method in SMART PLS software confirms the 44 attributes in 10 components. Shannon’s entropy and WASPAS methods are used to weigh and prioritize the extracted components. As a result of this research, the three main priorities of importance in the components of commercialization are identified: the “enterprise capabilities of technology transfer”, “technological capabilities and resources”, and “independent technology commercialization strategies in the oil and gas industry
Oil and Gas Economics and Management
Ali Esmaeili Ardakani; Maryam Ahmadpour; Shirin Haddad Zand
Abstract
As a region rich in oil and gas resources, low energy prices, and a unique geopolitical position, the Middle East has been the focus of global attention, particularly for economic powers such as China and India. Due to the wide gap between energy supply and demand, especially for oil, the two countries ...
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As a region rich in oil and gas resources, low energy prices, and a unique geopolitical position, the Middle East has been the focus of global attention, particularly for economic powers such as China and India. Due to the wide gap between energy supply and demand, especially for oil, the two countries have developed a special diplomacy for their energy supplies. Understanding the oil policies of Beijing and New Delhi as the main actors in the energy market of the Middle East is paramount for the leading oil-producing countries. By conducting a comparative analysis of the Delhi–Beijing oil policies in the Middle East, the present article will ask how domestic, regional, and international variables affect the Chinese and Indian oil policies in this region. The authors have compared the following critical variables in answer to this question: the legal structure and decision-making process, self-sufficiency levels, the geopolitical position toward the Middle East, oil diplomacy, the role of technology, and the international economic-political position of the two countries. Our findings show that the Beijing government has formulated its oil policy using a single, specific decision-making body in the energy sector. It has relied on expanding multilateral ties with other countries, long-term investments, long-term loans, expanding energy transfer pipelines, and long-term contracts to deepen its relations with oil-rich countries, particularly those in West Asia. On the other hand, India has based its diplomacy on short-term economic contracts, situation analysis, and needs assessment. It is, however, clear that both countries will continue to depend on oil from the Middle East in the medium term despite the threat of US sanctions
Oil and Gas Economics and Management
Ebatarhe Osiobe; Kiamuke Itiowe
Abstract
The global economy is expanding at a drastic pace, and energy is fundamental to nearly all economic activities and modern living standards. Sustaining the oil supply is a profound challenge in the oil and gas industry. One of the ways the industry is now looking to sustain supply is through developing ...
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The global economy is expanding at a drastic pace, and energy is fundamental to nearly all economic activities and modern living standards. Sustaining the oil supply is a profound challenge in the oil and gas industry. One of the ways the industry is now looking to sustain supply is through developing oil rims, which were once considered uncommercial because of technology. Developing oil rim has its opportunities and challenges, on which this study has focused. This study aims to investigate the feasibility and viability of oil rim development, its opportunities and challenges, and the factors affecting its economic viability. The Troll Oilfield on the Norwegian continental shelf is used as a case study because it is an oil rim field. The economic analysis is based on historical production data of the Troll oilfield. A deterministic approach is used, which involves both cash flow and sensitivity analysis. Based on the economic analysis results, oil rim development is marginally economic and viable but on certain conditions: low CAPEX and high oil price. The type of technology used in developing oil rims determines the efficiency and economic feasibility of the development. The outcome of this study shows that technology has made oil rim development possible which was once considered uncommercial in the past, and oil price is the primary determinant of the viability of oil rim development
Oil and Gas Economics and Management
Abdolhosein Bayat; Farhad Rahbar; Ali Vatani; Seyed Abdollah Razavi
Abstract
As one of the mother industries, the petrochemical industry is one of the essential pillars of development and the driving engine of various sectors of the country’s economy. This industry will achieve several important goals, such as increasing export income, expanding downstream sectors, creating ...
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As one of the mother industries, the petrochemical industry is one of the essential pillars of development and the driving engine of various sectors of the country’s economy. This industry will achieve several important goals, such as increasing export income, expanding downstream sectors, creating jobs, and increasing GDP. This importance has been emphasized in the country’s upstream documents, such as the general policies of the resistance economy, focusing on developing petroleum refineries to prevent the vulnerability of oil and gas revenues by extending the value chain and increasing the export of these products. The current work aims to investigate the value chain of the petrochemical industry with the new approach of petrochemical refineries, as well as the pathology and evaluation of the current state of the chains mentioned above in the country with the descriptive research method and the library method using policy research. The research results show that the chain of petrochemical products with the approach of creating petrochemical refineries has relatively high advantages compared to focusing on chains with the traditional method.
Oil and Gas Economics and Management
Habib Ansari Samani; Samaneh Bagheri
Abstract
This study examines the effect of Iranian oil sanctions on the International oil market network for the first time with Complex Network Analysis (CAN) with Diebold -Yilmaz and Arch indexes from 1991:01 to 2019:12. The analysis was performed for two periods before and after the sanctions, and the results ...
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This study examines the effect of Iranian oil sanctions on the International oil market network for the first time with Complex Network Analysis (CAN) with Diebold -Yilmaz and Arch indexes from 1991:01 to 2019:12. The analysis was performed for two periods before and after the sanctions, and the results were compared. Results showed that the Iranian oil market in both networks before and after the sanction is one of the influential nodes in the oil network. The volatility spillover of the Iranian oil market in the oil network market has increased after the sanctions. Also, on Iranian oil, volatility spillover from other oil markets has to Iran increased after the sanction. But overall, the sanction has not had a significant impact on the oil market network. The Iranian oil market volatility was receiver before the sanction in the network, but its role changed after the sanction, and it became a sender node.
Oil and Gas Economics and Management
Maryam Khorram; Taghi Torabi; Abbas Toloie Eshlaghy
Abstract
The economic aspects of technological advances in the drilling industry using the maximum reservoir contact (MRC) method compared to other drilling technologies have been investigated in this study. Field and survey methods from combined implementation research methods have been performed by a dynamic ...
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The economic aspects of technological advances in the drilling industry using the maximum reservoir contact (MRC) method compared to other drilling technologies have been investigated in this study. Field and survey methods from combined implementation research methods have been performed by a dynamic approach using Vensim software. Professors, drilling and reservoir engineering professionals in the oil and gas drilling industry, or equivalent positions, comprised the study’s statistical population. Finally, 120 individuals were chosen by nonprobabilistic sampling (judgment) and the snowball method. In the Vensim dynamic environment, the simulation completion time (based on the 2017 dynamics model) and the initial simulation time (based on the 2013 dynamics model) were adjusted to generate a flow diagram analyzing the economic aspects of technological improvements in this type of drilling industry. According to the causal tree results, the drilling industry’s performance has the highest priority among studies of economic aspects of technological changes in the drilling industry using the MRC method. It has a significant relationship with technological changes in the drilling industry. The sensitivity analysis chart demonstrated that with a change in the variable of indicators of the drilling industry at an average level of 5.25 to 5.5, the target variable, i.e., the performance of the drilling industry, had the least sensitivity and had no particular effect on it. On the other hand, by modifying the effectiveness of the drilling industry, effectiveness indicators at the average level of 6.95, the target variable had the maximum sensitivity and had a very significant effect on it.
Oil and Gas Economics and Management
Ehsan Kordi; Mohmmadreza Abdoli; Hasan Valiyan
Abstract
The purpose of this study is to analyze the most effective basis for assessing the intellectual capital maturity based on the themes of the ambidextrous learning link. In terms of purpose, this research is part of developmental research. Because of the lack of a basis for assessing the intellectual capital ...
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The purpose of this study is to analyze the most effective basis for assessing the intellectual capital maturity based on the themes of the ambidextrous learning link. In terms of purpose, this research is part of developmental research. Because of the lack of a basis for assessing the intellectual capital maturity under ambidextrous learning in previous research, based on meta-synthesis in the first step, an attempt was made to identify components as the analytical basis of the research and propositions as reference variables. Then, in order to explain the identified components and propositions, in a small part, intuitive fuzzy sets (IFSs) was used to determine the most effective basis for evaluating the intellectual capital maturity based on the themes of the ambidextrous learning link. In this study, the target population consisted of two parts: qualitative and quantitative. In the qualitative section, with the help of 16 management specialists and experts, an attempt was made at the university level to identify research components and propositions in the form of score forms. In the small section, 50 managers, officials and experts at various levels of knowledge-based companies participated. The results showed that the proposition of strategic tendencies in learning is considered as the most influential themes of the ambidextrous learning link in the studied companies, which strengthens the sustainability of knowledge creation as an effective component in the intellectual capital maturity.
Oil and Gas Economics and Management
Alireza Fardi Azar; Mojtaba Tabari; Soleyman Iranzadeh; Yousof Gholi Pourkanani
Abstract
Having a strong and capable crew is one of the primary desires of any organization. The organization’s prosperity depends on such individuals, and according to the resource-based approach, organizations with talented human resources have a competitive advantage because the possibility of imitating ...
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Having a strong and capable crew is one of the primary desires of any organization. The organization’s prosperity depends on such individuals, and according to the resource-based approach, organizations with talented human resources have a competitive advantage because the possibility of imitating and copying such forces is zero for a competitor. Today the demand for talent is increasing. Organizations compete to obtain such resources and spend much money attracting and hiring them. A successful organization can identify and maintain talent using appropriate human resources systems. Value-based organization models are effective systems of talent management that have entered the talent management literature. This paper aims to review the literature related to the model of value-based organization with an emphasis on talent management in the National Iranian Gas Company. This is descriptive cross-sectional research that is practical in purpose and has a quantitative nature. The data analysis showed that organizational, group, spiritual, psychological, and social ethics should be prioritized to achieve improved talent management, individual values, and professionals. Paying attention to the values of talent and institutionalizing essential values, such as challenging work, continuous learning, maintaining self-esteem, and giving them independence and freedom, should be among the priorities of the National Iranian Gas Company
Oil and Gas Economics and Management
Hamid Reza Modiri; Marjan Daman keshideh; Hooshang Momeni; Amirreza Keyghobadi; Ali Esmailzadeh Maghari
Abstract
This study was conducted to determine the effect of the asymmetric oil price shock, tax revenues, resource curse, stock market, and business cycles of Iran by using the structural vector auto regression model (SVAR) for the 1984-2018 period. According to results of the estimated SVAR model, an impulse ...
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This study was conducted to determine the effect of the asymmetric oil price shock, tax revenues, resource curse, stock market, and business cycles of Iran by using the structural vector auto regression model (SVAR) for the 1984-2018 period. According to results of the estimated SVAR model, an impulse imposed by the duration of sanctions on oil exports led to an 89% increase in production gap, and impulses caused by liquidity and stock price led to 86% and 53% rises in production gap, respectively. Variation in oil and foreign exchange earnings results in different and even conflicting changes in foreign and domestic sectors of the economy, which subsequently affect the economic performance positively or negatively. Regarding economic structure and principles, a constant increased exchange rate leads to economic growth while a cross-sectional increment in exchange rate does not lead to any economic prosperity. Increased exchange rate and decreased domestic money weakness will increase foreign debt, which in turn causes liquidity shortage. Overall, the liquidity shortage of economic firms has a negative impact on the return of stock and business cycles. Hence, policymakers must pay considerable attention to macroeconomic indicators.
Oil and Gas Economics and Management
Mahdieh Nejatollahi; Reza Tajarlou; Abdolhossein Shiravi
Abstract
In spite of decades from its establishment, National Iranian Oil Company (NIOC) has failed to get the reputation of a prosperous international company. This failure may be due to different reasons but the role of directors in the success of the company is undeniable. How to have efficient directors and ...
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In spite of decades from its establishment, National Iranian Oil Company (NIOC) has failed to get the reputation of a prosperous international company. This failure may be due to different reasons but the role of directors in the success of the company is undeniable. How to have efficient directors and therefore a strong board of directors is a challenge that in its response is raised the concept of Good Corporate Governance that by crushing this concept, It will be applied it in the process of appointment directors. The research intends to scrutinize and describe the process of board of directors' appointment from Good Corporate Governance point of view, identifying NIOC advantages and disadvantages thereof. It was found that some indicators of Good Corporate Governance principles such as specialized diversity of board composition are desirable and minimum competencies are less and there is no independent managers criteria. At first hereto, the process is described in three sections: appointment entity, board qualifications and nomination process and following is brought its analysis by using descriptive-analytic method. In conclusion, suggestions are made in regards with enhancing standards of NIOC Good Corporate Governance about board of directors' appointment .
Oil and Gas Economics and Management
Reza Ashtari; Maryam Darvishi; Ghasem Bakhshandeh; Mohammad Hemati
Abstract
Competitive advantages play a unique role in organizations' successes or failures because of customers' very speedy accessibility to suppliers and manufacturers. Indeed, this is competitive advantages which can make firms and organizations survive and grow in today's increasing competitive field attaining ...
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Competitive advantages play a unique role in organizations' successes or failures because of customers' very speedy accessibility to suppliers and manufacturers. Indeed, this is competitive advantages which can make firms and organizations survive and grow in today's increasing competitive field attaining by creating and or improving their capabilities. The main goal of the study is to design a grounded theory model extracted from the transnational capabilities, but this required to explore the transnational capabilities aiming for the international markets entry. The statistical population of this qualitative research included experts and managers working in the steel pipe manufacturing companies of Iranian gas and oil industry. The data collected via interviews. The validity assured by counseling with the elites and university professors and the reliability verified by the Delphi technique. The findings revealed 496 open, 44 axial and 9 selective codes including: 1) Marketing, 2) Managerial, 3) Human Resources, 4) Financial, 5) Manufacturing, 6) Quality & Standards, 7) Research & Development 8) Logistics and 9) Interactions and counseling with the government. Finally, a new model extracted and represented from analysis of the axial coding process of the grounded theory. The model precisely clarified relationships among the components including casual conditions, context, actions/interactions (strategies), intervening conditions and consequences. Recognition of the relationships of the components will help better understanding of the capabilities. This will lead to attain the competitive advantages needed for successful entry into the international markets.
Oil and Gas Economics and Management
Hanieh Ghorbani; Farhad Hanifi; Teimor Mohammadi; Gholamreza Zomorodian
Abstract
One of the variables affecting the behavior of enterprises is the exchange rate. Uncertainty about the amount of exchange rate volatillity for each firm is considered as a risk. The aim of this study is to explain a model to investigate the effect of exchange rate shocks on the financial sustainability ...
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One of the variables affecting the behavior of enterprises is the exchange rate. Uncertainty about the amount of exchange rate volatillity for each firm is considered as a risk. The aim of this study is to explain a model to investigate the effect of exchange rate shocks on the financial sustainability of export-oriented companies. In this regard, the data on exchange rate, tax, oil revenue and export variables on financial sustainability was collected for 19 groups of companies from 2008 to 2019. To achieve the research goal, the Panel Vector Autoregressive Model (PANEL VAR) using the generalized method of moments (GMM) was used to analyzed the data. Then the results were interpreted using the Impulse Response Function and variance decomposition. The results of the IRF show that the effect of exchange rate volatility on the financial sustainability variable is initially negative, but has a positive effect over time and is neutralized after several periods. The same goes for an impulse equal to a standard deviation in tax. Also, the oil revenues and exports impulse have negative and positive effects on financial sustainability, respectively. According to the results of variance decomposition, it can be said that the effect of exchange rate on financial sustainability is greater than the effect of sustainability on exchange rate, because the exchange rate shocks have more explanatory power for sustainability fluctuations.
Oil and Gas Economics and Management
Seyed Mohammad Shamsoddin
Abstract
This paper aims to show the asymmetric effect of oil shocks on Iran’s economy. It uses nonlinear time series models to investigate the asymmetric effect of oil shocks on resource allocation in Iran’s economy. The results show that adverse oil shocks have been more persistent during the last ...
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This paper aims to show the asymmetric effect of oil shocks on Iran’s economy. It uses nonlinear time series models to investigate the asymmetric effect of oil shocks on resource allocation in Iran’s economy. The results show that adverse oil shocks have been more persistent during the last decades and severely negatively affect resource allocation in Iran’s economy. Different oil shocks have different implications for importing and exporting countries, and the rigidity of state fiscal systems in exporting countries causes adverse oil shocks to be more persistent. The oil economy’s response to positive and negative oil shocks depends on the structure of the economy. The government budget and trade balance have significant implications for the effects of oil shocks on oil-exporting economies. The government budget is highly dependent on oil revenues, so in the case of adverse oil shocks, the pass-through exchange rate will cause high inflation because of foreign exchange shortage and overshoot in the exchange rate.
Oil and Gas Economics and Management
Mohamad Nasr Esfahani; Mansoure Mahdizadeh; Ehsan Rasoulinezhad; Rahele Montazer
Abstract
This paper aims to show the asymmetric effect of oil shocks on Iran’s economy. It uses nonlinear time series models to investigate the asymmetric effect of oil shocks on resource allocation in Iran’s economy. The results show that adverse oil shocks have been more persistent during the last ...
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This paper aims to show the asymmetric effect of oil shocks on Iran’s economy. It uses nonlinear time series models to investigate the asymmetric effect of oil shocks on resource allocation in Iran’s economy. The results show that adverse oil shocks have been more persistent during the last decades and severely negatively affect resource allocation in Iran’s economy. Different oil shocks have different implications for importing and exporting countries, and the rigidity of state fiscal systems in exporting countries causes adverse oil shocks to be more persistent. The oil economy’s response to positive and negative oil shocks depends on the structure of the economy. The government budget and trade balance have significant implications for the effects of oil shocks on oil-exporting economies. The government budget is highly dependent on oil revenues, so in the case of adverse oil shocks, the pass-through exchange rate will cause high inflation because of foreign exchange shortage and overshoot in the exchange rate.
Oil and Gas Economics and Management
Somayeh Sharifi; Seyed Ali Vaez; Mehdi Basirat
Abstract
Protecting shareholders’ rights today is considered a practical competitive function at the level of capital markets, which is based on transparent and coherent actions within the framework of laws and regulations. In other words, the more the level of company operations is based on regulatory ...
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Protecting shareholders’ rights today is considered a practical competitive function at the level of capital markets, which is based on transparent and coherent actions within the framework of laws and regulations. In other words, the more the level of company operations is based on regulatory and legal procedures, the more level of protection of shareholders’ interests can be expected to be observed more uniformly by companies. This study aims to design a forensic accounting model focusing on protecting shareholders’ rights of petrochemical companies. The collection tool based on the analytical nature of the research consisted of two parts: evaluation checklist and matrix checklists. In fact, in order to promote the level of innovation in the relationship between forensic processes and quantitative accounting to collect data for the development of the forensic accounting model, through meta-synthesis and Delphi analysis, the components and propositions of forensic accounting were determined in the qualitative section, focusing on the protection of shareholders’ rights; then based on the matrix checklist, the most influential research propositions were determined through the analysis of fuzzy networks. The research results in the qualitative part indicate the existence of three components of structural mechanisms; it was the meta-structural and legalization of forensic accounting to protect shareholders’ rights, which was approved in the form of 18 statements. Further, the results in the quantitative part concerning the analysis of fuzzy networks were identified. The most effective component of forensic accounting in the protection of shareholders’ rights was structural mechanisms, and the most influential statements of forensic accounting in the protection of
Oil and Gas Economics and Management
Shohreh Pirani
Abstract
The oil market is affected by the supply of oil by oil-producing countries. The Organization of the Petroleum Exporting Countries (OPEC) was established in the 1960s to balance oil prices in favor of oil-producing countries. OPEC has gone through a period of convergence and divergence since its inception ...
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The oil market is affected by the supply of oil by oil-producing countries. The Organization of the Petroleum Exporting Countries (OPEC) was established in the 1960s to balance oil prices in favor of oil-producing countries. OPEC has gone through a period of convergence and divergence since its inception under political-economic events and crises. In turn, this convergence and divergence have had a significant impact on oil production, supply, and prices in the oil market. OPEC members form a diverse range of population, size, reserves, output, gross domestic product, ideology, and type of relationship with world powers. This diversity, along with internal tensions, leads to different approaches on energy markets and production quotas, which has affected the interests of all producing countries. Thus, this study aims to assess the convergence relationship between OPEC members on the strength of this organization on the market. To reach this aim, we have used a qualitative method of descriptive and analytical type using library resources and documents. Findings show that any lack of convergence and understanding between OPEC members has led to increased supply in the oil market and fluctuating prices. These price fluctuations seriously damage the economies of exporting countries.
Oil and Gas Economics and Management
Javad Darban Fooladi; Farhad Dehdar; Mohammadreza Abdoli
Abstract
Forensic accounting, as a process of legal inspection of corporate accounting practices, has become an important strategy to prevent fraud and financial misconduct, creating information transparency for investors to make financial decisions. Among the capital market companies, oil companies can strengthen ...
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Forensic accounting, as a process of legal inspection of corporate accounting practices, has become an important strategy to prevent fraud and financial misconduct, creating information transparency for investors to make financial decisions. Among the capital market companies, oil companies can strengthen the forensic accounting paradigm to provide documentation and transparency of decision-making to prevent market distrust caused by investor risks and contribute to the sustainable development of its presence in advancing competitive strategies. This study aims to develop an effective forensic accounting paradigm based on the risks of investors in oil companies. In this study, the components (dimensions of forensic accounting) and research propositions (investor risk themes) were used to from a combined analysis with 15 accounting experts at the university level. In the quantitative part, the components and propositions identified in the form of matrix questionnaires were evaluated by the interpretive ranking process (IRP) by 20 financial managers of oil companies in the capital market. The results showed that the statements of inflation and credit risk as the most influential themes threaten investors in oil companies, strengthening the focus on legal mechanisms as a component of the forensic accounting paradigm. This result shows that, in the presence of inflationary and credit risks for oil companies’ investors, the importance of legal mechanisms in judicial accounting can lead to increased information transparency to protect the interests of oil companies’ investors
Oil and Gas Economics and Management
Ali Fakour; Vida Varahrami; Shahram Gohari Far
Abstract
As the largest exporter of non-oil products, the petrochemical industry’s growth and development have a significant role in economic prosperity. Considering the sanctions on crude oil exports in recent years and the problem of crude oil sales, it is essential to pay attention to this industry as ...
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As the largest exporter of non-oil products, the petrochemical industry’s growth and development have a significant role in economic prosperity. Considering the sanctions on crude oil exports in recent years and the problem of crude oil sales, it is essential to pay attention to this industry as an influential factor in circumventing sanctions and currency for the country, developing its economic strategy, and achieving sustainable economic development. In this study, the factors affecting the supply of methanol exports to the UAE, Turkey, China, and India export destinations in the period 2001–2009 are examined and analyzed. According to the studies, the factors that have affected the supply of Iranian methanol exports are the GDP of target countries, real exchange rate, exchange rate fluctuations, trade liberalization, price exchange ratio, refinery feed prices, and sanctions as the livestock variables. In this study, the actual exchange rate volatility index was estimated using the GARCH model. Then, the export supply model of Iran’s methanol product was calculated by the ARDL method. According to studies, the variables of GDP and trade liberalization have a positive and significant effect on the supply of Iranian exports in the short and long term. Still, other variables have a negative and significant impact on the supply of Iranian exports in the short and long term.
