| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 7415109 | Contaduría y Administración | 2017 | 15 Pages |
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.
Keywords
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Accounting
Authors
Alejandro Ibarra Yúnez, Fidel Flores Chapa,