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Investment Dynamics and Market Power in the U.S. Oil and Gas Industry
Investment Dynamics and Market Power in the U.S. Oil and Gas Industry
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20260311091532.5
- ISBN
- 9798270231491
- DDC
- 338
- 저자명
- Song, Changyong
- 서명/저자
- Investment Dynamics and Market Power in the U.S. Oil and Gas Industry / Changyong Song
- 발행사항
- [Sl] : The University of Texas at Austin, 2025
- 형태사항
- 1 electronic resource (122 pages)
- 주기사항
- Source: Dissertations Abstracts International, Volume: 87-06, Section: A.
- 주기사항
- Advisors: Titman, Sheridan Committee members: Zhao, Wuyang; Cohn, Jonathan; Ordin, Andrey.
- 학위논문주기
- - Ph.D. : The University of Texas at Austin, 2025.
- 초록/해제
- 요약I examine how financial market pressures influence the investment decisions of U.S. public oil and gas exploration and production firms. Compared to private firms, who are generally not subject to the same shareholder scrutiny, public firms have become less responsive to rising oil prices-particularly during high-price periods following the 2014-2015 oil price collapse. Using a uniquely compiled dataset of over 356,000 well-level investments from 2010 to 2023, I show that public firms exhibit significantly lower drilling elasticity with respect to price than private firms, especially in the post-collapse period. I also find that, over the same years, financial analysts increasingly expressed skepticism toward rising capital expenditures-a shift that coincides with more restrained investment behavior among public firms. These findings suggest that investor pressure may contribute to public firms adopting investment strategies consistent with those of firms that possess market power in input markets.
- 언어주기
- English
- 일반주제명
- Finance
- 키워드
- Production firms
- 키워드
- Financial market
- 키워드
- Public firms
- 기타저자
- The University of Texas at Austin Finance
- 기본자료저록
- Dissertations Abstracts International. 87-06A.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■006m o d
■007cr|nu||||||||
■020 ▼a9798270231491
■040 ▼aMiAaPQD▼beng▼cMiAaPQD▼erda
■082 ▼a338
■1001 ▼aSong, Changyong▼eauthor.
■24510▼aInvestment Dynamics and Market Power in the U.S. Oil and Gas Industry ▼cChangyong Song
■260 ▼a[Sl]▼bThe University of Texas at Austin▼c2025
■264 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2025
■300 ▼a1 electronic resource (122 pages)
■336 ▼atext▼btxt▼2rdacontent
■337 ▼acomputer▼bc▼2rdamedia
■338 ▼aonline resource▼bcr▼2rdacarrier
■500 ▼aSource: Dissertations Abstracts International, Volume: 87-06, Section: A.
■500 ▼aAdvisors: Titman, Sheridan Committee members: Zhao, Wuyang; Cohn, Jonathan; Ordin, Andrey.
■5021 ▼bPh.D.▼cThe University of Texas at Austin▼d2025.
■520 ▼aI examine how financial market pressures influence the investment decisions of U.S. public oil and gas exploration and production firms. Compared to private firms, who are generally not subject to the same shareholder scrutiny, public firms have become less responsive to rising oil prices-particularly during high-price periods following the 2014-2015 oil price collapse. Using a uniquely compiled dataset of over 356,000 well-level investments from 2010 to 2023, I show that public firms exhibit significantly lower drilling elasticity with respect to price than private firms, especially in the post-collapse period. I also find that, over the same years, financial analysts increasingly expressed skepticism toward rising capital expenditures-a shift that coincides with more restrained investment behavior among public firms. These findings suggest that investor pressure may contribute to public firms adopting investment strategies consistent with those of firms that possess market power in input markets.
■546 ▼aEnglish
■590 ▼aSchool code: 0227
■650 4▼aFinance
■653 ▼aInvestment decisions
■653 ▼aProduction firms
■653 ▼aFinancial market
■653 ▼aPublic firms
■7102 ▼aThe University of Texas at Austin▼bFinance.▼edegree granting institution.
■7201 ▼aTitman, Sheridan▼edegree supervisor.
■7730 ▼tDissertations Abstracts International▼g87-06A.
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17361195▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
