Contratos de riesgo de petróleo,patrones de conducta y desempeño de empresas: Análisis de panel de datos |
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Authors: | Alejandro Ibarra Yúnez Fidel Flores Chapa |
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Institution: | 1. Egade Business School, Tecnológico de Monterrey, México;2. Escuela de Ingeniería y Ciencias, Tecnológico de Monterrey, México |
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Abstract: | Using data from financial and economic performance of International Oil Companies (IOCs) in the exploration-extraction (E&E) business, along with institutional and market orientation of governments and National Oil Companies (NOCs) that receive project offers, the international E&E market is analyzed in both institutional development and behavioral patterns of type of E&E contract following an agency theory approach. Additionally, given Mexico's recent energy reform being launched between 2015 and next 2019, the various types of E&E contracts are analyzed, comparing license contracts with production sharing and risk service ones. Next, using panel data methods an analysis of 17 enterprises between 2005 and 2015 is presented, where so-called global IOCs show higher returns and commitment than specialized ones, demonstrated by their net income and return on equity, or ROE. |
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Keywords: | Economía de las regulaciones Modelos de negociación Exploración de petróleo Modelos de datos en panel Economics of regulation Bargaining models Oil exploration Panel data models L51 C78 L71 C23 L51 C78 L71 C23 |
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