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    Towards a market based composite political risk indicator for country oil and gas industry sectors

    134342_17227_CRAE WP201003 Simpson riskenergy.pdf (140.6Kb)
    Access Status
    Open access
    Authors
    Simpson, John
    Date
    2009
    Type
    Working Paper
    
    Metadata
    Show full item record
    Citation
    Simpson, John. 2009. Towards a market based composite political risk indicator for country oil and gas industry sectors, Centre for Research in Applied Economics Working Paper Series: no. 201003, Curtin University of Technology, School of Economics and Finance.
    Additional URLs
    http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1575385
    Faculty
    Curtin Business School
    The Centre of Research in Applied Economics (CRAE)
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/43251
    Collection
    • Curtin Research Publications
    Abstract

    The purpose of this paper is to test an international oil and gas market model, hypothesised to arrive at new indicator of pure composite political risk for country oil and gas sectors. Current political risk ratings are largely subjectively quantified and are not frequently published. Investors in oil and gas industry portfolios as well as trade and investment policy formulators should be interested that there is a strong theoretical and practical basis where pure political risk indicators may be obtained daily rather than monthly using stock market generated data. A systemic international capital asset pricing model is a useful framework as long as available financial and economic information is captured along with systemic interdependence and control introduced for country size and wealth effects. If so, an indication of the influence of human (political) factors in each country oil and gas industry sector can be provided.

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