Does oil price affect the value of firms? Evidence from Tunisian listed firms

被引：3

作者：

Zaabouti, Kaouther ^{[1
]}

Ben Mohamed, Ezzeddine ^{[2
]}

Bouri, Abdelfettah ^{[1
]}

机构：

[1] Univ Sfax, Fac Econ & Management Sfax, Monastir 5046, Tunisia

[2] Qassim Univ, Coll Business & Econ, Dept Accounting, Buraydah 51431, Saudi Arabia

来源：

FRONTIERS IN ENERGY | 2016年 / 10卷 / 01期

关键词：

oil price; value of firm; stochastic frontier approach; industrial Tunisian firms; STOCK RETURNS; SHOCKS; IMPACT; UNCERTAINTY; RISK; VOLATILITY; PROFITS; SIZE;

D O I：

10.1007/s11708-016-0396-8

中图分类号：

TE [石油、天然气工业]; TK [能源与动力工程];

学科分类号：

0807 ; 0820 ;

摘要：

A new debate on the potential impact of oil price changes on the value of firms was initiated in this paper. Using a stochastic frontier approach, an attempt was made to derive the optimal value Q* of firms and calculate the Q value observed. Then the shortfall (Q*-Q) which represents the inefficiency term was explained. Starting from 19 industrial Tunisian firms listed on the Tunis Stock Exchange between 2007 and 2011, the fact that variation of oil prices can largely explain distortions in the value of firms was empirically demonstrated.

引用

页码：1 / 13

页数：13

共 49 条

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