Research on changes of international big oil companies' R%D input: the impacts of international oil prices

Yun-Fei Yao, Yang Zhao, Jing Li and Jian Sun

International Journal of Global Energy Issues, 2015, vol. 38, issue 1/2/3, 82-92

Abstract: Research and Development (R%D) is the foundation and guarantee for scientific and technological innovations of an enterprise. It is important to determine the reasonable scale of R%D input and optimise the structure of R%D input for modern enterprises. This paper applies a panel data model to analyse the changes and impact factors of R%D input of international oil companies. It is found that oil companies carry out huge R%D input, but the intensity is low. R%D input strongly depends on company scale, international oil prices, net profit, debt and other factors. Fluctuations in international oil prices are fully considered in an oil company's R%D input decision-making. If international oil prices rise 1%, an international oil company's R%D input will increase 0.19% and vice versa.

Keywords: international oil prices; oil industry; R%D input; research and development; influencing mechanism; international oil companies. (search for similar items in EconPapers)
Date: 2015
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