scholarly journals Assessment of sustainable foreign economic activity strategies of Russian corporations

2021 ◽  
Vol 258 ◽  
pp. 06017
Author(s):  
Evgeniy Stepanov ◽  
Dmitri Pletnev ◽  
Van Duc Pham
Keyword(s):  
Economic Activity ◽  
Food Industry ◽  
Oil And Gas ◽  
Annual Reports ◽  
Investment Strategies ◽  
Financial Investment ◽  
Independent Form ◽  
Modern Economic ◽  
Technological Integration ◽  
Activity Strategy

In modern economic literature, several strategies for the development of enterprises are considered at the theoretical level. However, as an independent form of strategy, foreign economic activity strategy is not considered, or not enough attention is paid to it. The purpose of the article is to identify the strategies of foreign economic activity of Russian enterprises in the oil and gas, metallurgical industries, and the food industry, based on their annual reports and ratings of Russian analytical agencies. The objectives of the study are, firstly, the development of a methodology for assessing the results of strategies for foreign economic activity, and secondly, the analysis of strategies for foreign economic activity, as a result of their commodity market, resource market, technological, integration, and financial investment strategies. As a result of the study, the features of Russian corporations’ strategies of foreign economic activity have been revealed. Their trajectories are shown in the “commodity item - country” coordinate system.

Analyzing the figures of consolidated statement of cash flows of the world's biggest publicly traded oil and gas corporations

2020 ◽  
Vol 19 (6) ◽  
pp. 1101-1120
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Cash Flow ◽  
Oil And Gas ◽  
Cash Flows ◽  
Annual Reports ◽  
Capital Expenditures ◽  
Publicly Traded ◽  
The Public ◽  
Statement Of Cash Flows ◽  
Oil And Gas Companies

Subject. The article investigates key figures disclosed in consolidated cash flow statements of 25 leading publicly traded oil and gas companies from 2006 to 2018. Objectives. The focus is on determining the current level of values of the main components of consolidated statement of cash flows prepared by leading publicly traded oil and gas companies, identifying key trends within the studied period and factors that led to any transformation. Methods. The study draws on methods of comparative and financial-economic analysis, as well as generalization of materials of consolidated cash flow statements. Results. The comprehensive analysis of annual reports of 25 oil and gas companies enabled to determine changes in the key figures and their relation in the structure of consolidated cash flow statements in the public sector of the industry. It also established main factors that contributed to the changes. Conclusions. In the period under study, I revealed an increase in cash from operating activities; established that capital expenditures in the public sector of the industry show an overall upward trend and depend on the level of oil prices. The analysis demonstrated that even integrated companies’ upstream segment prevail in the capital expenditures structure. The study also unveiled an increase in dividend payments, which, most of the time, exceeded free cash flows thus increasing the debt burden.

Main approaches to estimating the cost of shareholder equity of oil and gas producers

2020 ◽  
Vol 26 (3) ◽  
pp. 685-697
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Oil Prices ◽  
Minimum Cost ◽  
Free Cash Flow ◽  
Annual Reports ◽  
Comparative Approach ◽  
Economic Activities ◽  
Advantages And Disadvantages ◽  
Oil And Gas Producers ◽  
The Cost

Subject. The study analyzes generally accepted approaches to assessing the value of companies on the basis of financial statement data of ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, Gazprom, Rosneft, LUKOIL, and others, for 1999—2018. Objectives. The aim is to determine the specifics of using the methods of cost, DFC, and comparative approaches to assessing the value of share capital of oil and gas companies. Methods. The study employs methods of statistical analysis and generalization of materials of scientific articles and official annual reports on the results of financial and economic activities of the largest public oil and gas corporations. Results. Based on the results of a comprehensive analysis, I identified advantages and disadvantages of standard approaches to assessing the value of oil and gas producers. Conclusions. The paper describes pros and cons of the said approaches. For instance, the cost approach is acceptable for assessing the minimum cost of small companies in the industry. The DFC-based approach complicates the reliability of medium-term forecasts for oil prices due to fluctuations in oil prices inherent in the industry, on which the net profit and free cash flow of companies depend to a large extent. The comparative approach enables to quickly determine the range of possible value of the corporation based on transactions data and current market situation.

Analyzing the liquidity ratios of the world's leading public oil and gas corporations

2020 ◽  
Vol 26 (7) ◽  
pp. 1571-1589 ◽  
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Oil And Gas ◽  
Comprehensive Analysis ◽  
Annual Reports ◽  
Main Factors ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the key liquidity figures of the twenty five largest public oil and gas companies between 2006 and 2018. Objectives. The article aims to determine the current values of the key liquidity figures of the largest public oil and gas companies, identify key trends in their changes within the study period, and identify the factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization. Results. Based on a comprehensive analysis of the twenty five oil and gas companies' annual reports, the article identifies trends in the changes in the key liquidity indexes in the industry's public sector, and establishes the main factors that affected these changes. Conclusions and Relevance. The largest public oil and gas companies are able to maintain their own liquidity in times of crisis, even. The industry pays the most attention to increasing the instant liquidity ratios. The results of the study can be used to evaluate, forecast, and develop measures to enhance the liquidity of public oil and gas companies.

The Influence of Climate Factors on Cocoa Productivity in Sulawesi, 2019

2021 ◽  
Vol 1 (1) ◽  
pp. 21-30
Author(s):  
Marta Sundari ◽  
Pardomuan Robinson Sihombing
Keyword(s):  
Regression Model ◽  
Economic Activity ◽  
Oil And Gas ◽  
Climatic Factors ◽  
Average Length ◽  
Spatial Regression ◽  
Model Estimation ◽  
Climate Factors ◽  
Spatial Regression Model ◽  
Average Monthly Rainfall

Cocoa is one of the plantation commodities that has an important role in Indonesia's economic activity and is one of Indonesia's export commodities which is quite important as a source of foreign exchange and oil and gas. Sulawesi Island is one of the cocoa-producing islands in Indonesia. This study aims to determine a spatial regression model between the average cocoa productivity per month with the average drinking temperature per month, the average monthly rainfall and the average length of sunshine per month and the climatic factors that affect cocoa productivity in Sulawesi. The best model estimation uses the AIC value; the best model has the smallest AIC value. In this study, the SARMA spatial regression model is the best model with the specified criteria.

Operational Structure of Multinational Enterprises in Africa

2016 ◽  
pp. 329-350
Author(s):  
Edet E. Okon
Keyword(s):  
Exchange Rate ◽  
Multinational Enterprises ◽  
Full Range ◽  
Capital Outlay ◽  
Investment Strategies ◽  
African Countries ◽  
Financial Investment ◽  
Developed Economies ◽  
Foreign Countries ◽  
Foreign Affiliates

The operational structures of Multinational Enterprises (MNEs) in Africa, a developing and emerging economy do not necessarily differ from those of the developed or even Less Developed Economies (LDEs) except in few areas such as size and capital outlay. Meanwhile, both MNEs of African origin and those which originate from outside Africa do have salient attributes: they have many foreign affiliates or subsidiaries in foreign countries; they operate in a wide variety of countries around the globe; the proportion of assets, revenues, or profits is high; their employees, stockholders, owners, and managers are from many different countries; and they are involved in much more than merely establishing sales office, but incorporate a full range of manufacturing, research and development activities. This chapter examined operational structures of MNEs with focus on meaning, attributes, financing, exchange rate risk and international financial investment, strategies for improved financing and outlay of MNEs in selected African countries.

scholarly journals ISA 701 and Materiality Disclosure as Methods to Minimize the Audit Expectation Gap

2019 ◽  
Vol 12 (4) ◽  
pp. 161
Author(s):  
Tomasz Iwanowicz ◽  
Bartłomiej Iwanowicz
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Annual Reports ◽  
Analysis Tool ◽  
Consolidated Financial Statements ◽  
Expectation Gap ◽  
Audit Firms ◽  
National Bank ◽  
Food Media ◽  
Market Indexes

Purpose: The main purpose of this paper is to determine how particular audit firms deal with ISA 701 requirements and the society expectations towards reporting the materiality levels. Additionally, the aim of this paper is to range the assertions in terms of the frequency of their occurrence. Design/methodology/approach: The tested sample consisted of 317 companies listed on Warsaw (158 companies) or London (159 companies) stock exchange. The analysis was divided into companies from the following ten market indexes (WIGs): construction, IT, real estate, food, media, oil and gas, mining, energy, automotive and chemicals. The research was executed based on the analysis of annual consolidated financial statements (annual reports) and independent auditor reports that were published by in-scope entities for the latest twelve-months period available as at the date of the research (mostly periods ended on 31 December 2017 and 31 March 2018). All values were denominated to euro (EUR) with use of average exchange rates published by the National Bank of Poland. All performed analyses and developed charts were supported by Microsoft Power BI data analysis tool. Findings: The general conclusion, which may be drawn from this research, is that implementation of ISA 701 and materiality disclosure limited the audit expectation gap. Detailed observations are described throughout the paper and summarized in the conclusions section. Originality/value: This study extends the prior research by providing various dimensions of the analysed matters. It contributes to understanding of the audit expectation gap and investigates on methods of minimizing it.

scholarly journals MCCG 2012 versus MCCG 2017: Board Gender Diversity and Women CEO Issues within the Male-dominated Oil and Gas Industry

2019 ◽  
Vol 10 (2) ◽  
pp. 122
Author(s):  
Dayana Mastura Baharudin ◽  
Maran Marimuthu
Keyword(s):  
Oil And Gas ◽  
Top Management Team ◽  
Gender Diversity ◽  
Oil And Gas Industry ◽  
Management Team ◽  
Annual Reports ◽  
Top Management ◽  
Gas Industry ◽  
Board Gender Diversity ◽  
The Impact

Purpose – This study investigates the impact of the two main determinants of strengthening the Board and Top Management Team through gender diversity contrasting between the pre and post MCCG 2017 era.Design/methodology/approach – The study will employ the judgmental sampling method followed by descriptive statistics, regression analysis and quantitative content analysis derived from MCCG 2012 and MCCG 2017 as issued by the Malaysian Securities Commission together with prior research to analyse the annual reports in order to explore the reporting of gender diversity across the Board and Top Management Team.Originality/value – This study is a systematic review of prior recent research developments in the Malaysian Securities Commission’s MCCG 2012 and MCCG 2017. The Board of Directors and Top Management Team scoring index could also be applied to other PLCs within the ASEAN oil and gas industry.

scholarly journals Some Political Arithmetic of Large and Small

1979 ◽  
Vol 8 (2) ◽  
pp. 1-15
Author(s):  
B. F. Stanton
Keyword(s):  
Economic Activity ◽  
Food Industry ◽  
Changes Over Time ◽  
Over Time ◽  
Numbers Game

Most economists get caught up in one way or another with size and efficiency issues. We all play a numbers game. It may be to describe output and economic activity in any one of the sectors of the food industry. It may be to make comparisons about farm numbers or output among counties, among states or among countries. Most often it involves changes over time as well. But we are all asked to assemble statistics, to explain how these statistics are collected and to make generalizations about what these statistics mean. This is the very essence of the business of applied economists.

scholarly journals Creating an Energy Analysis Concept for Oil and Gas Companies: The Case of the Yakutiya Company in Russia

Energies ◽  
2019 ◽  
Vol 12 (2) ◽  
pp. 268 ◽  
Author(s):  
Jun Yan ◽  
Lianyong Feng ◽  
Alina Steblyanskaya ◽  
Anton Sokolov ◽  
Nataliya Iskritskaya
Keyword(s):  
Financial Management ◽  
Oil And Gas ◽  
Energy Analysis ◽  
Financial Analysis ◽  
Annual Reports ◽  
Financial Efficiency ◽  
Energy Return On Investment ◽  
Energy Company ◽  
Full Picture ◽  
Annual Reporting

Recently, energy analysis has been added to Russian gas companies’ annual reporting system. This new practice indicates that corporate reports are improving their analyses by addressing energy issue and the financial efficiency of energy production. However, the use of summary energy indicators is limited in these annual reports. In this paper we review the history of energy analysis in Russia from the early USSR period to today. Under the guidance of energy return on investment (EROI), we compare energy efficiency indicators with financial efficiency coefficients. The results show that the value of the return on cost of sales (ROCS) is negative in certain instances, while the value of the energy return on cost of sales (EROCS) is extremely high under the example of the Russian energy company JSC “YATEC.” Money-based indicator values (ROCS and return on fix assets (ROFA)) fluctuate with internal company financial management goals, and from the outside depending on market prices. Meanwhile energy-based values (EROCS) remain stable. Added financial analysis and energy analysis in companies’ annual statements will supplement each other in practice and will present the full picture for company efficiency analysis.

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