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Measurement of the Efficiency and Productivity of National Oil Companies and Its Determinants

dc.contributor.authorHyunjung Lee
dc.date.accessioned2015-04-21
dc.date.accessioned2015-04-29T14:32:39Z
dc.date.available2015-04-29T14:32:39Z
dc.date.issued2014-03-24
dc.identifier.urihttp://hdl.handle.net/11540/4245
dc.description.abstractMost countries, both oil-producing and oil-consuming countries, have established national oil companies (NOCs) that are saddled with the responsibility of protecting and managing their respective governments' interests. As NOCs' production influence and market power have risen, they become major players competing with international oil companies (IOCs) in the global petroleum market. However, the performance of NOCs is considered lower than IOCs because of the perceived inefficiency due to the structure of the petroleum industry, government regulation and policy, and government's other interests through NOCs. Since oil exports account for a majority of their foreign incomes in most oil-rich developing countries and those incomes are the indispensable resource for the country's economic and social development, it is critical to find a way to improve the performance of NOCs. Against this backdrop, we measured the relative efficiency and productivity of 38 NOCs and IOCs in total, which belong to the world's largest 50 oil companies in the period of 2003–2010 sourced from the Energy Intelligence Petroleum Industry Weekly. In this process, the data envelopment analysis method was used, which enables the comparison of a firm's performance with those of other firms relatively. In addition, random-effects regression model was used for the second stage analysis on the environmental factors which influence the efficiency and productivity level. The empirical results showed that Organization of the Petroleum Exporting Countries NOCs are the low performers while big IOCs are the high performers. Based on secondary analysis, specific policies were suggested such as reviewing the size and percentage of its government ownership in NOCs, diversifying its crude oil and gas export supply market, reducing the level of government interference in its technical management, and granting greater autonomy to its subsidiaries.
dc.languageEnglish
dc.publisherTaylor and Francis
dc.titleMeasurement of the Efficiency and Productivity of National Oil Companies and Its Determinants
dc.typeJournals
dc.subject.expertIndustry
dc.subject.expertDevelopment Economics
dc.subject.expertEconomic Models
dc.subject.expertOrganization for Economic Cooperation and Development
dc.subject.adbSecurities
dc.subject.adbMines
dc.subject.adbCompetition
dc.subject.adbIndustrial competition
dc.subject.adbUnfair competition
dc.subject.adbMonopolies
dc.subject.adbCompetition policy
dc.subject.adbDevelopment cooperation
dc.subject.adbEconomic discrimination
dc.subject.adbIndustrial Development
dc.subject.adbFinancial Services Industry
dc.subject.adbIndustrial Sector
dc.subject.naturalCompetition
dc.subject.naturalComparative economics
dc.subject.naturalCommunication in economic development
dc.subject.naturalIndustrialization
dc.subject.naturalMonopoly
dc.subject.naturalBarriers to entry
dc.subject.naturalMonopolistic competition
dc.subject.naturalRestraint of trade
dc.subject.naturalPrice discrimination
dc.subject.naturalImperfect competition
dc.subject.naturalPress monopoly
dc.subject.naturalDiversification in industry
dc.subject.naturalUnfair competition
dc.subject.naturalInvestment banking
dc.title.seriesGeosystem Engineering
dc.title.volumeVol 17, Issue 2
dc.contributor.imprintTaylor and Francis
oar.themeEconomics
oar.themeIndustry
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-008017
oar.authorLee, Hyunjung
oar.importtrue
oar.externallinkhttp://www.tandfonline.com/doi/abs/10.1080/12269328.2014.887045#preview
oar.googlescholar.linkpresenttrue


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