Article
О влиянии взаимосвязи "специфичность основных активов-человеческий капитал" на развитие газовой промышленности США
The article examines the changes in the U.S. upstream gas industry from the perspective of asset specificity and characteristics of human capital. The authors show that nowadays the development of shale gas production, as well as the expansion of production and sales of liquefied natural gas are associated with changes in the asset characteristics (both tangible and intangible). The latter is increasingly acquiring the features of universality. Among the characteristics of such changes is the reduction in contract duration, and changing directions of natural gas supply (including outside the United States). Furthermore, the ratio of costs changes dramatically: while for the traditional fields capital costs, associated with well construction, dominate over operational costs, associated with well exploitation and maintenance, shale fields are characterised by an invert correlation. In addition, the essential role is now played not by field/well characteristics, but by the level of competencies and the technological development. Hence, the share of employees in the service sector keeps increasing. The authors substantiate that the “shale” assets are generally less specific than the “traditional” ones. The transformation of specificity, along with the increase in the number of transactions, lead to the proliferation of the number of service companies and local operators at all the stages. These companies tend to minimise costs and maximise efficiency, consequently (alongside with several other reasons, mentioned in the article) leading to lower gas prices in the U.S.A. and creating an opportunity for gas export.
The author from portuguese translated the Brazilian Law № 11.909 of 4 March 2009 г. «On legal regulation of the activity of transportation of natural gas, regulated by the article 177 of federal Brazilian Constitution and on activity of using, processing, storage, liquefication, regasification and marketing of natural gas; amendmends to the law № 9.478 of 6 August 1997 etc.»
The paper analyzes the dynamic change in the Russian banking asset concentration standard. There are other countries with similar pattern of banking asset concentration change, as the article reveals. The writer also shares her vision of further developments in the rate of asset concentration in the Russian banking industry.
The compendium of articles presented at the fifth international conference of young scientists, organized by the Center of Energy Studies, IMEMO RAS and Faculty of International Energy Business of Gubkin Russian State University of Oil and Gas (NRU), focuses on the complex and multidimensional processes of world energy restructuring. Of special interest are the articles from the young scholars of Center of Energy Studies, IMEMO RAS and Gubkin Russian State University of Oil and Gas Base Chair at IMEMO, covering the world oil market developments, transport electrification, LNG market development and China’s and India’s gas market restructuring.
Issues of interaction between assets, institutions and innovations are the subject of paper. Special attention is given to the specific (idiosyncrasy) assets characteristics in a centrally planning economy. "Shale revolution" assets drivers analyses is presented. Quantitative estimates of main conclusions are given – as with use of econometric tools as "catastrophe theory" approach.
The present article is devoted to a legal regulation of investments in gas industry of Russia. The author points attention of the scientist on it its perspectives in view of BRICS, on the possibilities that this form of cooperation can provide. The object of the article is the characterization of the actual legal regulation and of the investment climate in general. In the conclusion the author proposes the new approach for cooperation in the domain of the gas production in Russia.
Importance of the investments in the modern economy stipulates necessity of increase of accuracy in researches on it. This aim could be reached by sectoral factors including in investigation. The article shows significance of sectoral factors for investment behaviour, brings recommendations for empirical research, and classifies factors in oil and gas industry.
Capital structure choice is among the key corporate decisions which influence its long term performance and it is considered to be one of the core problems in th theory of corporate finance. Despite the existence of plenty of empirical research papers in the area, many conceptual problems have not been resolved even for developed economies. The existing research on emerging markets covers only few countries within this group and does not provide empirical results for all classical capital structure concepts. The main research question of this paper is to explore whether the firms from Eastern and Central Europe follow the pecking order of financing. Does the pecking order concept underlie the motives for long term financing policies in industrial firms in emerging capital markets of Eastern and Central Europe?
Importance of the investments in the modern economy stipulates necessity of increase of accuracy in researches on it. This aim could be reached by sectoral factors including in investigation. The article shows significance of sectoral factors for investment behaviour, brings recommendations for empirical research, and classifies factors in oil and gas industry.
Capital structure choice is among the key corporate decisions which influence its long term performance and it is considered to be one of the core problems in th theory of corporate finance. Despite the existence of plenty of empirical research papers in the area, many conceptual problems have not been resolved even for developed economies. The existing research on emerging markets covers only few countries within this group and does not provide empirical results for all classical capital structure concepts. The main research question of this paper is to explore whether the firms from Eastern and Central Europe follow the pecking order of financing. Does the pecking order concept underlie the motives for long term financing policies in industrial firms in emerging capital markets of Eastern and Central Europe?
The application of mathematical modeling methods (with subsequent computer sales) to determine the parameters of accuracy geometry bands obtained with the new equipment and process the step deformation bands of hard alloys based on copper