کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
959973 | 929395 | 2013 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
مدیریت، کسب و کار و حسابداری
حسابداری
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico The performance of corporate alliances: Evidence from oil and gas drilling in the Gulf of Mexico](/preview/png/959973.png)
چکیده انگلیسی
I use data on oil and gas drilling in the Gulf of Mexico to measure how a corporate alliance—a group of firms that jointly develops an offshore tract—performs relative to a solo firm. I employ a regression discontinuity strategy based on bids in first-price sealed-bid auctions for the rights to develop leases. By focusing on leases where one organizational form narrowly outbids the other, I measure drilling outcomes while controlling for the endogenous matching of projects and organizational forms. Solo firm leases are less profitable than alliance leases because alliance members combine their information and expertise.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 110, Issue 2, November 2013, Pages 324–346
Journal: Journal of Financial Economics - Volume 110, Issue 2, November 2013, Pages 324–346
نویسندگان
John Beshears,