scholarly journals Performance effectiveness of Russian energy companies based on EVA and DEA

2021 ◽  
Vol 330 ◽  
pp. 01007
Author(s):  
Irina Filimonova ◽  
Vasiliy Nemov ◽  
Irina Provornaya ◽  
Anastasia Chebotareva ◽  
Victor Butenko
Keyword(s):  
Capital Structure ◽  
Performance Estimation ◽  
Export Share ◽  
Russian Market ◽  
Performance Effectiveness ◽  
Comprehensive Performance ◽  
Operation Results ◽  
Energy Companies

Calculating both EVA and DEA indices is an effective way to comprehensive performance estimation. Russian market is full of differences between largest companies which influence their operation results. Some of them have more refinement facilities, other differ in export share or capital structure. There are plenty factors which we determined at the first stage of this research to compare those companies. Though, not all of them can really explain effectiveness changes such as EVA fluctuations or it’s decreasing trough 2014-2017 years at Russian market. This is possible with using a method suggested in this research.

scholarly journals Determinants of Capital Structure: The Evidence from European Energy Companies

2016 ◽  
Vol 7 (6) ◽  
Author(s):  
Ayberk Nuri Berkman ◽  
Omer Iskenderoglu ◽  
Erdinc Karadeniz ◽  
Nazif Ayyildiz
Keyword(s):  
Capital Structure ◽  
Energy Companies

The capital structure puzzle – evidence from Indian energy sector

2019 ◽  
Vol 13 (1) ◽  
pp. 2-23 ◽  
Author(s):  
Anindita Chakrabarti ◽  
Ahindra Chakrabarti
Keyword(s):  
Capital Structure ◽  
Negative Relationship ◽  
Energy Sector ◽  
Empirical Literature ◽  
Content Type ◽  
Factors Affecting ◽  
Tax Shield ◽  
Asset Turnover ◽  
Energy Companies ◽  
The Capital Structure

Purpose The purpose of this paper is to determine the factors affecting the capital structure of companies engaged in the Indian energy sector. Design/methodology/approach Capital structure theories and empirical literature have been reviewed to formulate propositions concerning the factors/variables determining the capital structure of Indian energy companies. The examination is done using panel data techniques for the sample 141 companies operating in the Indian energy sector. Findings The results show firms’ age, asset turnover ratio, liquidity and firms’ size to be significant determinants of capital structure for the Indian energy companies, while profitability, debt service capacity, sales growth, non-debt tax shield and tangibility ratio to be insignificant determinants. Historically, profitability has shared a significantly negative relationship with debt ratio; however, the relation here is not significant. Research limitations/implications The focus of the current study is on Indian energy sector, the results obtained will not be applicable for other sectors. Originality/value The current research gives an insight into the determinants of capital structure of the companies engaged in the Indian energy sector, which are mostly overlooked due to the laws, policies and regulations governing the sector as a whole.

Development of Automatic Test System of Rig Comprehensive Performance

2013 ◽  
Vol 664 ◽  
pp. 1082-1086
Author(s):  
Fen Lei Dai ◽  
Hai Rong Pang ◽  
Wen Qiang Xie
Keyword(s):  
Coal Mining ◽  
Virtual Instrument ◽  
Performance Testing ◽  
Test System ◽  
Automatic Test ◽  
Automatic Test System ◽  
Comprehensive Performance ◽  
Hardware Configuration ◽  
Instrument Technology ◽  
Operation Results

The rig is widely used in coal mining production, its research and development, manufacture and use are required to test the performance indicators. For this, the paper researches and developments the comprehensive performance automatic test system in coal mining rig by using virtual instrument technology, and detailedly discussed the hardware configuration and software design scheme of the test system. After a hundred sets of various types testing and inspection of rig, the operation results shows that the automatic test system can meet the various performance parameters’ testing requirements of the split and crawler rigs, and greatly simplify performance testing program of rig, improve the test efficiency.

Study on the Sustainable Development of Chinese Energy Industry Based on the Influencing Factors of Capital Structure

2014 ◽  
Vol 962-965 ◽  
pp. 1854-1857
Author(s):  
Ming Pang ◽  
Hong Mei Wu ◽  
Jin Ke Wang
Keyword(s):  
Capital Structure ◽  
Financial Risk ◽  
Economies Of Scale ◽  
Control Mechanism ◽  
Developing Economies ◽  
Stock Exchange ◽  
Energy Industry ◽  
The Sustainable Development ◽  
Existing Problems ◽  
Energy Companies

Based on the characteristics of the energy industry, this paper dissects the capital structure status of Chinese energy companies, and then points out the existing problems. The 8-year’s financial data of PetroChina, Sinopec and CNOOC, which are all listed in Stock Exchange of Hong Kong, are selected for empirical analysis, and concluded that, profitability, company size, collateral value of assets and liquidity ratio of assets are negatively correlated to corporate asset-liability ratio, but the growth is positively correlated to it. Finally, this paper provides advices on developing economies of scale, financing, investing and improving corporate financial risk control mechanism.

Perspectives and Regulation of the Russian Market for Project-based Transactions under the Kyoto Protocol

2008 ◽  
pp. 108-125
Author(s):  
K. Zavodov
Keyword(s):  
Energy Efficiency ◽  
Market Mechanism ◽  
Point Of View ◽  
Market Regulation ◽  
Foreign Investments ◽  
Russian Market ◽  
Increase Energy Efficiency ◽  
New Form ◽  
Contract Structure ◽  
Carbon Fund

Project-based transactions (PBTs) are a market mechanism of attracting foreign investments in order to abate greenhouse gas emissions and increase energy efficiency of the country’s enterprises. The article provides a classification and analyzes advantages and drawbacks of PBTs from the point of view of a host country. The main trends and factors determining the dynamics of the PBT market are described. Given that Russia currently lags behind the leaders of the PBT market, an incorporation of a state carbon fund is put forward with an aim of channelling PBTs through it. This paper proposes a form of PBT market regulation by incorporating an option mechanism into the contract structure of a transaction. A comparison of the new form of regulation with the tools that are currently in use in Russia and other countries demonstrates its greater economic efficiency under uncertainty.

Hostile Takeovers and Anti-takeover Defenses in the Russian Corporate Market

2007 ◽  
pp. 70-84 ◽  
Author(s):  
E. Demidova
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Hostile Takeovers ◽  
Russian Market ◽  
Takeover Defenses ◽  
The Cost ◽  
European Markets

This article analyzes definitions and the role of hostile takeovers at the Russian and European markets for corporate control. It develops the methodology of assessing the efficiency of anti-takeover defenses adapted to the conditions of the Russian market. The paper uses the cost-benefit analysis, where the costs and benefits of the pre-bid and post-bid defenses are compared.

Analysis of Factors Affecting Capital Structure in Food and Beverage Manufacturing Company

2018 ◽  
Vol 1 (2) ◽  
pp. 1-14
Author(s):  
Nur Hajja Aini ◽  
St Habibah
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Significant Influence ◽  
Fixed Effects ◽  
Random Effect Model ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Growth Opportunities ◽  
Food And Beverage ◽  
The Capital Structure

The purpose of this research to analyze the influence of firm size, liquidity, growth opportunities, tangibility asset, and business risk to the capital structure of listed food and beverage manufacturing companies in Indonesia and Vietnam Stock Exchange from 2010 to 2016. The result shows that the fixed effects model should be appropriate for this study as compared to the random effect model. Capital structure significantly differences between the two countries. Firm size has a positive but insignificant influence on the capital structure in Indonesia, whereas it has a positive and a significant influence on the capital structure in Vietnam. Liquidity has a negative and significant influence on the capital structure both in Indonesia and Vietnam. Growth opportunities have a negative but insignificant influence on the capital structure both in Indonesia and Vietnam. Asset tangibility has a positive but insignificant influence on the capital structure in Indonesia, but it has the negative but insignificant influence on the capital structure in Vietnam. Ultimately, the business risk has a negative and significant influence on the capital structure in Indonesia but has a positive and insignificant influence on the capital structure in Vietnam.

Energy After COVID

2020 ◽  
Vol 119 (820) ◽  
pp. 317-322
Author(s):  
Michael T. Klare
Keyword(s):  
Renewable Energy ◽  
Electric Vehicles ◽  
Fossil Fuels ◽  
Fossil Fuel ◽  
White Collar ◽  
Peak Oil ◽  
Business Travel ◽  
Reduce Energy Consumption ◽  
The Cost ◽  
Energy Companies

By transforming patterns of travel and work around the world, the COVID-19 pandemic is accelerating the transition to renewable energy and the decline of fossil fuels. Lockdowns brought car commuting and plane travel to a near halt, and the mass experiment in which white-collar employees have been working from home may permanently reduce energy consumption for business travel. Renewable energy and electric vehicles were already gaining market share before the pandemic. Under pressure from investors, major energy companies have started writing off fossil fuel reserves as stranded assets that are no longer worth the cost of extracting. These shifts may indicate that “peak oil demand” has arrived earlier than expected.

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