Exportar Publicação

A publicação pode ser exportada nos seguintes formatos: referência da APA (American Psychological Association), referência do IEEE (Institute of Electrical and Electronics Engineers), BibTeX e RIS.

Exportar Referência (APA) 
Ramos, S., Veiga, H. & Wang, C.W. (2014). Risk factors in the oil industry: un upstream and downstream analysis. In Sofia B.Ramos and Helena Veiga (Ed.), The Interrelationship Between Financial and Energy Markets. (pp. 3-32). Berlim: Springer.
Exportar Referência (IEEE) 
S. C. Ramos et al.,  "Risk factors in the oil industry: un upstream and downstream analysis", in The Interrelationship Between Financial and Energy Markets, Sofia B.Ramos and Helena Veiga, Ed., Berlim, Springer, 2014, vol. 54, pp. 3-32
Exportar BibTeX 
@incollection{ramos2014_1732681264746,
	author = "Ramos, S. and Veiga, H. and Wang, C.W.",
	title = "Risk factors in the oil industry: un upstream and downstream analysis",
	chapter = "",
	booktitle = "The Interrelationship Between Financial and Energy Markets",
	year = "2014",
	volume = "54",
	series = "Lecture Notes in Energy ",
	edition = "",
	pages = "3-3",
	publisher = "Springer",
	address = "Berlim",
	url = "http://link.springer.com/chapter/10.1007%2F978-3-642-55382-0_1"
}
Exportar RIS 
TY  - CHAP
TI  - Risk factors in the oil industry: un upstream and downstream analysis
T2  - The Interrelationship Between Financial and Energy Markets
VL  - 54
AU  - Ramos, S.
AU  - Veiga, H.
AU  - Wang, C.W.
PY  - 2014
SP  - 3-32
CY  - Berlim
UR  - http://link.springer.com/chapter/10.1007%2F978-3-642-55382-0_1
AB  - In this paper we examine the drivers of stock market value in the upstream (producers) and downstream segments (petroleum refiners) of the oil industry. Using a sample of U.S. firms we find that stock returns of upstream and downstream firms follow stock market and oil price returns. Moreover, the upstream firm stock returns are sensitive to changes in the Canadian dollar, an important oil trade partner of the U.S., to natural gas returns and its volatility, but not to oil return volatility. Both the upstream and downstream segments present asymmetric changes regarding oil return changes. Stock returns of the oil industry respond asymmetrically to oil returns, i.e., positive oil returns had a greater impact than oil price drops in the period 1998–2004. Before 1997 we do not find any asymmetric effects, and after 2004, they are only statistically significant in the upstream segment. Overall, the evidence for asymmetric effects is more consistent across measures and time in the upstream than in the downstream segment.
ER  -