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Article
Publication date: 15 September 2023

Gerrio Barbosa, Daniel Sousa, Cássio da Nóbrega Besarria, Robson Lima and Diego Pitta de Jesus

The aim of this study was to determine if there are asymmetries in the pass-through of West Texas Intermediate (WTI) crude oil prices to its derivatives (diesel and gasoline) in…

Abstract

Purpose

The aim of this study was to determine if there are asymmetries in the pass-through of West Texas Intermediate (WTI) crude oil prices to its derivatives (diesel and gasoline) in the Brazilian market.

Design/methodology/approach

Initially, the future WTI oil price series was analyzed using the self-exciting threshold autoregressive (SETAR) and logistic smooth transition autoregressive (LSTAR) non-linear models. Subsequently, the threshold autoregressive error-correction model (TAR-ECM) and Markov-switching model were used.

Findings

The findings indicated high prices throughout 2008 due to the subprime crisis. The findings indicated high prices throughout 2008 due to the subprime crisis. The results indicated that there is long-term pass-through of oil prices in both methods, suggesting an equilibrium adjustment in the prices of diesel and gasoline in the analyzed period. Regarding the short term, the variations in contemporary crude oil prices have positive effects on the variations in fuel prices. Lastly, this behavior can partly be explained by the internal price management structure adopted during almost all of the analyzed period.

Originality/value

This paper contributes to the literature at some points. The first contribution is the modeling of the oil price series through non-linear models, further enriching the literature on the recent behavior of this time series. The second is the simultaneous use of the TAR-ECM and Markov-switching model to capture possible short- and long-term asymmetries in the pass-through of prices, as few studies have applied these methods to the future price of oil. The third and main contribution is the investigation of whether there are asymmetries in the transfer of oil prices to the price of derivatives in Brazil. So far, no work has investigated this issue, which is very relevant to the country.

Details

Journal of Economic Studies, vol. 51 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 7 February 2024

Paul O. Ukachi, Mathias Ekpu, Sunday C. Ikpeseni and Samuel O. Sada

The purpose of this study is to assess the performance of fuel blends containing ethanol and gasoline in spark ignition engines. The aim is to explore alternative fuels that can…

Abstract

Purpose

The purpose of this study is to assess the performance of fuel blends containing ethanol and gasoline in spark ignition engines. The aim is to explore alternative fuels that can enhance performance while minimizing or eliminating adverse environmental impacts, particularly in the context of limited fossil fuel availability and the need for sustainable alternatives.

Design/methodology/approach

The authors used the Ricardo Wave software to evaluate the performance of fuel blends with varying ethanol content (represented as E0, E10, E25, E40, E55, E70, E85 and E100) in comparison to gasoline. The assessment involved different composition percentages and was conducted at various engine speeds (1,500, 3,000, 4,500 and 6,000 rpm). This methodology aims to provide a comprehensive understanding of how different ethanol-gasoline blends perform under different conditions.

Findings

The study found that, across all fuel blends, the highest brake power (BP) and the highest brake-specific fuel consumption (BSFC) were observed at 6,000 rpm. Additionally, it was noted that the presence of ethanol in gasoline fuel blends has the potential to increase both the BP and BSFC. These findings suggest that ethanol can positively impact the performance of spark-ignition engines, highlighting its potential as an alternative fuel.

Originality/value

This research contributes to the ongoing efforts in the automotive industry to find sustainable alternative fuels. The use of Ricardo Wave software for performance assessment and the comprehensive exploration of various ethanol-gasoline blends at different engine speeds add to the originality of the study. The emphasis on the potential of ethanol to enhance engine performance provides valuable insights for motor vehicle manufacturers and researchers working on alternative fuel solutions.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 21 December 2023

Alireza Arab, Mohammad Ali Sheikholislam and Saeid Abdollahi Lashaki

The purpose of this paper is to review studies on mathematical optimization of the sustainable gasoline supply chain to help decision-makers understand the current situation, the…

Abstract

Purpose

The purpose of this paper is to review studies on mathematical optimization of the sustainable gasoline supply chain to help decision-makers understand the current situation, the exact dimensions of the problem and the models provided in the literature. So, a more realistic mathematical optimization model can be achieved by fully covering all dimensions of the supply chain of this product.

Design/methodology/approach

To evaluate and comprehend the mathematical optimization of the sustainable gasoline supply chain research area, a systematic literature review is undertaken that covers material collection, descriptive analysis, content analysis and material evaluation steps. Finally, based on this process, 69 related articles were carefully investigated.

Findings

The results of the systematic literature review show the main areas of the published papers on mathematical optimization of sustainable gasoline supply chain problems and the gaps for future research in this field presented based on them.

Research limitations/implications

This approach is subject to limitations because the protocol of the systematic review of the research literature only included searching for the considered combination of keywords in the Scopus and ProQuest databases. Furthermore, the protocol used in this paper restricts documents to English.

Practical implications

The results have significant implications for both academicians and practitioners in this field. It can be useful for academics to comprehend the gaps and future trends in this field. Also, for practitioners, it can be useful to identify and understand the parts of the mathematical optimization model, which can help them model this problem effectively and efficiently.

Originality/value

No systematic literature review has been done in this field by considering gasoline to the best of the authors’ knowledge and delivers new facts for the future development of this field.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Executive summary
Publication date: 27 February 2024

RUSSIA: Gasoline exports will be banned

Details

DOI: 10.1108/OXAN-ES285510

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 11 March 2024

Patrick Lecour

There is a lot of talk about the electric car today, but these vehicles are not new. Indeed, thebeginning of the 20th century saw electricity and the automobile take hold in North…

Abstract

Purpose

There is a lot of talk about the electric car today, but these vehicles are not new. Indeed, thebeginning of the 20th century saw electricity and the automobile take hold in North American society, so that by 1910, the electric car was everywhere. Until the turn of the 1920s, a new era dawned for transportation in the USA, but without the electric car. The purpose of this study is to question Why did it happen.

Design/methodology/approach

This paper develops such a comparison, not of the cars themselves, through a detailed engineering analysis, but rather of the marketing of electric vehicles in the USA in 1910 and 2010, as it appeared in the marketing strategies of the manufacturers.

Findings

There are many technical and economic reasons for this, but not only; there are also commercial strategy reasons. The position of manufacturers, especially through advertising and the press, can tell us about this golden age of the electric car, what precipitated its fall, and its reappearance a century later.

Originality/value

It is a comparison of images, of how electric vehicles had been and are proposed to the public, through the exploration of mainly promotional material and newspaper articles.

Details

Journal of Management History, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1348

Keywords

Article
Publication date: 29 September 2022

Maria Babar, Habib Ahmad and Imran Yousaf

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and…

Abstract

Purpose

This study examines the information transmission (return and volatility spillovers) among energy commodities (crude oil, natural gas, Brent oil, heating oil, gasoil, gasoline) and Asian stock markets which are net importers of energy (China, India, Indonesia, Malaysia, Korea, Pakistan, Philippines, Taiwan, Thailand).

Design/methodology/approach

The information transmission is investigated by employing the spillover index of Diebold and Yilmaz, using daily data for the period January 2000 to May 2021.

Findings

A Strong connectedness is documented between the two classes of asset, especially during crisis periods. Our findings reveal that most of the energy markets, except gasoil and natural gas, are net transmitters of information, whereas all the stock markets, excluding Indonesia and Korea, are net recipients.

Practical implications

The findings are helpful for portfolio managers and institutional investors allocating funds to various asset classes in times of crisis.

Originality/value

All data is original.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 2
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 1 September 2023

Dimitrios Panagiotou and Filio Naka

The purpose of this paper is to investigate for symmetries – in sign and size – between spot and futures prices in the markets of energy commodities.

Abstract

Purpose

The purpose of this paper is to investigate for symmetries – in sign and size – between spot and futures prices in the markets of energy commodities.

Design/methodology/approach

The aforementioned objective is pursued using daily observations of spot and futures prices for the commodities of crude oil, Brent, heating oil, gasoline and natural gas, along with local nonlinear regression.

Findings

Symmetry in sign and size cannot be rejected. This means that, shocks of the same absolute magnitude, but of different sign, are transmitted from futures prices to spot prices with the same intensity. In addition, larger absolute value price shocks in the futures are transmitted to the spot markets with the same intensity compared with smaller ones. The findings of symmetry in the comovements among prices reveal a lack of those commodities on diversifying the investors’ investment risk.

Originality/value

To the best of the authors’ knowledge, this is the first study to use local nonlinear regression to test for sign and size symmetry between futures and spot prices in the energy commodities markets.

Details

Studies in Economics and Finance, vol. 41 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Expert briefing
Publication date: 28 March 2024

The plant would be Uruguay’s largest-ever private investment, providing an estimated 3,000 jobs and producing synthetic fuels including green gasoline and green methanol, a…

Details

DOI: 10.1108/OXAN-DB286070

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 12 September 2023

Javad Gerami, Mohammad Reza Mozaffari, Peter Wanke and Yong Tan

This study aims to present the cost and revenue efficiency evaluation models in data envelopment analysis in the presence of fuzzy inputs, outputs and their prices that the prices…

Abstract

Purpose

This study aims to present the cost and revenue efficiency evaluation models in data envelopment analysis in the presence of fuzzy inputs, outputs and their prices that the prices are also fuzzy. This study applies the proposed approach in the energy sector of the oil industry.

Design/methodology/approach

This study proposes a value-based technology according to fuzzy input-cost and revenue-output data, and based on this technology, the authors propose an approach to calculate fuzzy cost and revenue efficiency based on a directional distance function approach. These papers incorporated a decision-maker’s (DM) a priori knowledge into the fuzzy cost (revenue) efficiency analysis.

Findings

This study shows that the proposed approach obtains the components of fuzzy numbers corresponding to fuzzy cost efficiency scores in the interval [0, 1] corresponding to each of the decision-making units (DMUs). The models presented in this paper satisfies the most important properties: translation invariance, translation invariance, handle with negative data. The proposed approach obtains the fuzzy efficient targets corresponding to each DMU.

Originality/value

In the proposed approach, by selecting the appropriate direction vector in the model, we can incorporate preference information of the DM in the process of evaluating fuzzy cost or revenue efficiency and this shows the efficiency of the method and the advantages of the proposed model in a fully fuzzy environment.

Details

Journal of Modelling in Management, vol. 19 no. 1
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 18 April 2024

Claire Heeryung Kim and Da Hee Han

This paper aims to investigate a condition under which identity salience effects are weakened. By examining how identity salience influences individuals’ product judgment in a…

Abstract

Purpose

This paper aims to investigate a condition under which identity salience effects are weakened. By examining how identity salience influences individuals’ product judgment in a domain of trade-offs, the current research demonstrates that the utilitarian value of a product is an important determinant of the effectiveness of identity salience on product judgment.

Design/methodology/approach

This research consists of two experiments. In Experiment 1, the authors examined whether identity salience effects were mitigated when the level of the perceived utilitarian value of an identity-incongruent product was greater than that of an identity-congruent product. In Experiment 2, the authors examined the effectiveness of internal attribution as a moderator that strengthens identity salience effects when the perceived utilitarian value of an identity-incongruent (vs. identity-congruent) product is higher.

Findings

In Experiment 1, the authors show that when the utilitarian value of a product with an attribute congruent (vs. incongruent) with one’s salient identity is lower, individuals do not show a greater preference for the identity-congruent (vs. identity-incongruent) product, mitigating the identity salience effects. Experiment 2 demonstrates that when individuals with a salient identity attribute a decision outcome to the self, they display a greater preference for the identity-congruent product even when its utilitarian value is lower compared to that of the identity-incongruent product.

Research limitations/implications

The research contributes to previous research examining conditions under which identity salience effects are weakened [e.g. social influence by others (Bolton and Reed, 2004); self-affirmation (Cohen et al., 2007)] by exploring the role of the utilitarian value of a product, which has not been examined yet in prior research. Also, by doing so, the current research adds to the literature on identity salience in a domain of trade-offs (Benjamin et al., 2010; Shaddy et al., 2020, 2021). Finally, this research reveals that when a decision outcome is attributed to the self, identity salience effects become greater. By finding a novel determinant of identity salience effects (i.e. internal attribution), the present research contributes to the literature that has examined factors that amplify identity salience effects [e.g. cultural relevance (Chattaraman et al., 2009); social distinctiveness (Forehand et al., 2002); different types of groups (White and Dahl, 2007)].

Practical implications

The findings provide managerial insights on identity-based marketing by showing a condition under which identity-based marketing does not work [i.e. when the utilitarian value of an identity-congruent (vs. identity-incongruent) product is lower] and how to enhance the effectiveness of identity-based marketing by using internal attribution.

Originality/value

By exploring the role of utilitarian value, not yet examined in prior research, the present research adds to the knowledge of the conditions under which identity salience effects are weakened. Furthermore, by finding a novel determinant of identity salience effects (i.e. internal attribution), the research contributes to the literature on factors that amplify identity salience effects.

Details

European Journal of Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0309-0566

Keywords

1 – 10 of 123