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Article
Publication date: 30 October 2023

Amanjot Singh

This study examines the relationship between oil price uncertainty (OPU) and corporate inventory investments using a sample of 6,072 USA manufacturing firms from 1992 to 2019.

Abstract

Purpose

This study examines the relationship between oil price uncertainty (OPU) and corporate inventory investments using a sample of 6,072 USA manufacturing firms from 1992 to 2019.

Design/methodology/approach

The author's study employs a panel dataset to examine the relationship between OPU and corporate inventory investments. The author uses several alternative specifications such as fixed effects models, an instrumental variable analysis, an impact threshold for confounding variable (ITCV) analysis, alternative measures, additional control variables and the percent bias analysis to account for endogeneity issues.

Findings

Corporate inventory investments decrease in response to high OPU. This decrease in inventory investments happens regardless of firms' expected stockout costs, information environment and reliance on external financing. As a potential mechanism, an uncertainty-induced increase in cash holdings contributes to this reduction in inventory investments. Also, the effect of OPU is non-linear and asymmetric. In response to the volatility of positive (negative) oil price changes, inventory investments decrease (increase) up to a certain point and increase (decrease) after that. Further, uncertainty-induced adjustments in inventory investments positively influence the operating performance of firms.

Originality/value

The author's study adds to the growing literature that examines the impact of OPU on corporate outcomes. Inventory investments directly affect business operations and could better reflect firms' responses to an uncertain environment.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 23 August 2022

Masha Menhat, Yahaya Yusuf, Angappa Gunasekaran and Al Montaser Mohammad

There is evidence in the literature suggesting the usage of performance measurement framework (PMF) has a positive impact on organisational performance. This is in line with…

Abstract

Purpose

There is evidence in the literature suggesting the usage of performance measurement framework (PMF) has a positive impact on organisational performance. This is in line with resource based view (RBV) theory, which argues attaining competitive advantage through internal resources and capabilities. In this regard, PMF can be viewed as a “resource” that can be explored in enabling organisational performance. This paper is aimed at developing PMF for the oil and gas supply chain (SC) as a resource and strategic capability.

Design/methodology/approach

Drawing on RBV theory, a questionnaire survey was designed based on prior literature review and exploratory interview with five SC experts. Following this, the questionnaires were distributed to 550 companies in the UK and 120 companies in Malaysia, which resulted in 15% overall response rate.

Findings

This study presents the prevalence of performance measures (PM) for the oil and gas industry based on the level of importance. It also reveals the impact of the usage of PMF on overall organisational performance. In addition, it identifies the challenges in managing SC performance and factors to be considered in choosing PM.

Originality/value

This study identifies the challenges in managing SC performance and establishes distinctive factors to consider when choosing PM in the oil and gas SC.

Details

Benchmarking: An International Journal, vol. 30 no. 9
Type: Research Article
ISSN: 1463-5771

Keywords

Content available
Article
Publication date: 1 March 2006

155

Abstract

Details

Disaster Prevention and Management: An International Journal, vol. 15 no. 2
Type: Research Article
ISSN: 0965-3562

Abstract

Details

Multinational Enterprises and Terrorism
Type: Book
ISBN: 978-1-83867-585-1

Article
Publication date: 14 November 2023

Hajar Pouran Manjily, Mahmood Alborzi, Turaj Behrouz and Seyed Mohammad Seyed- Hosseini

This study aims to focused on conducting a comprehensive assessment of the technology readiness level (TRL) of Iran’s oil field intelligence compared to other countries with…

Abstract

Purpose

This study aims to focused on conducting a comprehensive assessment of the technology readiness level (TRL) of Iran’s oil field intelligence compared to other countries with similar oil reservoirs. The ultimate objective is to optimize oil extraction from this field by leveraging intelligent technology. Incorporating intelligent technology in oil fields can significantly simplify operations, especially in challenging-to-access areas and increase oil production, thereby generating higher income and profits for the field owner.

Design/methodology/approach

This study evaluates the level of maturity of present oil field technologies from the perspective of an intelligent oil field by using criteria for measuring the readiness of technologies. A questionnaire was designed and distributed to 18 competent oil industry professionals. Using weighted criteria, a mean estimate of oil field technical maturity was derived from the responses of respondents. Researchers evaluated the level of technological readiness for Brunei, Kuwait and Saudi Arabia’s oil fields using scientific studies.

Findings

None of the respondents believe that the intelligent oil field in Iran is highly developed and has a TRL 9 readiness level. The bulk of experts believed that intelligent technologies in the Iran oil industry have only reached TRL 2 and 1, or are merely in the transfer phase of fundamental and applied research. Clearly, Brunei, Kuwait and Saudi Arabia have the most developed oil fields in the world. In Iran, academics and executive and contracting firms in the field of intelligent oil fields are working to intelligently develop young oil fields.

Originality/value

This study explores the level of maturity of intelligent technology in one of Iran’s oil fields. It compares it to the level of maturity of intelligent technology in several other intelligent oil fields throughout the globe. Increasing intelligent oil fields TRL enables better reservoir management and causes more profit and oil recovery.

Details

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

Keywords

Content available
Article
Publication date: 1 May 2001

480

Abstract

Details

Disaster Prevention and Management: An International Journal, vol. 10 no. 2
Type: Research Article
ISSN: 0965-3562

Abstract

Details

Contingent Valuation: A Critical Assessment
Type: Book
ISBN: 978-1-84950-860-5

Article
Publication date: 8 April 2014

John James Cater III and Brent Beal

– The purpose of this paper is to examine the experiences of family business owners in an externally induced crisis from a resource-based perspective.

Abstract

Purpose

The purpose of this paper is to examine the experiences of family business owners in an externally induced crisis from a resource-based perspective.

Design/methodology/approach

The paper employs a qualitative case study approach involving 22 firms.

Findings

In the aftermath of the BP oil spill, a series of ripple effects impacted family firms both negatively and positively. The paper outlines five ways that family firms may improve company performance in crisis situations.

Research limitations/implications

Although our study is rich in qualitative detail, it is important to recognize that the BP oil spill represents a unique crisis context and caution should be exercised in generalizing the study's findings.

Practical implications

While ripple effects may be powerful at the industry and industry sub-group level, the paper provides evidence that family firms may overcome these external effects using one or more of five strategic initiatives: strong networking relationships, idiosyncratic local knowledge, flexibility, rapid response, and exercising trust with caution.

Originality/value

The study validates the potential utility of a ripple effect model in the study of family businesses and externally induced crises. It has the potential to contribute to improving management response.

Details

Journal of Family Business Management, vol. 4 no. 1
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 17 September 2021

Carine Dominguez-Péry, Rana Tassabehji, Lakshmi Narasimha Raju Vuddaraju and Vikhram Kofi Duffour

This paper aims to explore how big data analytics (BDA) emerging technologies crossed with social media (SM). Twitter can be used to improve decision-making before and during…

Abstract

Purpose

This paper aims to explore how big data analytics (BDA) emerging technologies crossed with social media (SM). Twitter can be used to improve decision-making before and during maritime accidents. We propose a conceptual early warning system called community alert and communications system (ComACom) to prevent future accidents.

Design/methodology/approach

Based on secondary data, the authors developed a narrative case study of the MV Wakashio maritime disaster. The authors adopted a post-constructionist approach through the use of media richness and synchronicity theory, highlighting wider community voices drawn from social media (SM), particularly Twitter. The authors applied BDA techniques to a dataset of real-time tweets to evaluate the unfolding operational response to the maritime emergency.

Findings

The authors reconstituted a narrative of four escalating sub-events and illustrated how critical decisions taken in an organisational and institutional vacuum led to catastrophic consequences. We highlighted the specific roles of three main stakeholders (the ship's organisation, official institutions and the wider community). Our study shows that SM enhanced with BDA, embedded within our ComACom model, can better achieve collective sense-making of emergency accidents.

Research limitations/implications

This study is limited to Twitter data and one case. Our conceptual model needs to be operationalised.

Practical implications

ComACom will improve decision-making to minimise human errors in maritime accidents.

Social implications

Emergency response will be improved by including the voices of the wider community.

Originality/value

ComACom conceptualises an early warning system using emerging BDA/AI technologies to improve safety in maritime transportation.

Details

International Journal of Operations & Production Management, vol. 41 no. 9
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 18 December 2018

Muhammad Mujtaba Asad, Razali Bin Hassan, Fahad Sherwani, Zaheer Abbas, Muhammad Saeed Shahbaz and Qadir Mehmood Soomro

Every year, hundreds of people have died and thousands have been injured because of insufficient management of well control at oil and gas drilling and production sites. Major…

Abstract

Purpose

Every year, hundreds of people have died and thousands have been injured because of insufficient management of well control at oil and gas drilling and production sites. Major causes which have been reported in previous studies included uncontrollable blowouts and failure of blowout preventers because of insufficient safety practices. These onshore and offshore blowout disasters not only harm the work force but also critically affect the environment and marine life. In this research paper, a detailed quantitative survey and qualitative risk assessments (RA) have been carried out for assessing the potentially hazardous activities associated with well control along with their appropriate controls and risk reduction factors and mitigating measures in Middle East and south East Asian countries.

Design/methodology/approach

The sequential explanatory research design has been adopted in this study. Whereas, descriptive statistical approach has been used for the quantitative data analysis of this study. While, in-depth interview approach has been used for qualitative data collection. Similarly, what-if analysis method has been adopted in this study for the identification of effective safety and health risk mitigating factors because it provides in-depth information from health and safety environment experts.

Findings

The cumulative quantitative results based on the response from Saudi Arabian drilling industry have indicated that the well control operation is highly hazardous then Malaysian and Pakistani oil and gas industries. Likewise, findings from what-if analysis approach demonstrate that the drilling crewmembers have repetitively faced life threatening hazards which occur (safety and chemical) during well control onshore and offshore operation because of oil base mud, confined space at site, pinch points and falling during working on blow out preventers. According to the overall result, respondents have highly recommended engineering and administrative hazard controlling factors as most suitable for the elimination of safety and chemical hazards during well control activities.

Practical implications

Besides, the developed methodological framework for the identification of suitable hazard controls can also be effectively used for potential hazards reorganization and identification of suitable hazard controls for other drilling and production industries and regions for accident prevention and safety and health management.

Originality/value

This is a first comparative research study which has been carried out in Malaysian, Saudi Arabian and Pakistani onshore and offshore oil and gas industries for well control health and safety management and reorganization of most effective hazards mitigating factors at drilling sites.

Details

Journal of Engineering, Design and Technology, vol. 17 no. 1
Type: Research Article
ISSN: 1726-0531

Keywords

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