OIL VALUE VARIATIONS AND COST-EFFECTIVENESS TOWARDS WEALTH CREATION OF OIL AND GAS VENDING CORPORATIONS

J. O. Udoayang, E. I. Usang, E. F. Enya

Abstract


The study investigated the effect of oil value variations and cost-effectiveness towards wealth creation of oil and gas vending corporations. The main objective of the study was to determine whether oil value variation impact on cost-effectiveness in the processes of wealth creation in oil and gas vending corporations in Nigeria. Data were obtained from secondary sources such as annual financial reports of corporations which were within the coverage years of investigation. Simple regression technique was used to analyze the data collected. The findings revealed that, oil value variations do not significantly affect cost-effectiveness in the processes of wealth creation of oil and gas vending corporations under consideration. Based on the findings, the study recommended that the management of companies should devise effective strategies in regulating and controlling the effect of oil value variations on their corporate cost-effectiveness towards wealth creation.

 

JEL: L20; L22; L72

 

Article visualizations:

Hit counter

DOI

Keywords


oil, value, cost, effectiveness, financial, report, variations, corporate, gas, vending, wealth creation

Full Text:

PDF

References


Ahmed A., Song M., Stevens S. (2009). Earnings characteristics and analysts’ differential interpretation of earnings announcement: An empirical analysis, Journal of Accounting and Finance, 49(2): 223-246.

Asuquo A. I. (2012a). Impact analysis of interest rate on net assets of multinational business in Nigeria. Research Journal of Finance and Accounting, 3(7): 64-70.

Asuquo A. I., Arzizeh T. T. (2012). An empirical analysis of foreign exchange rate risk exposure and the performance of Nigerian companies: 2002-2011. International Journal of Current Research and Review (.IJCRR) 4 (23): 1-8, www.ejmanager.com.

Asuquo A. I. (2012b). Inflation accounting and control through monetary policy measures in Nigeria: Multi-regression analysis (1973-2010). IOSR Journal of Business and Management (IOSRJBM).1(2):53-62 (May-June), www.iosrjournals.org.

Asuquo A. I. (2012c). Accounting for the impact of monetary policy on Nigerian economic growth: Empirical assessment (1981-2010). International Journal of Innovative Research and Development, 1(4): 246-265, www.ijird.com.

Asuquo A. I. (2013). Analysis of financial accounting standards and their effects on financial reporting and practices of modern business organizations in Nigeria. European Journal of Business and Management. 5(4), 60-68, www.iiste.org.

Asuquo A. I. (2011a). Impact of creative accounting and earnings management on modern financial reporting. The Nigerian Academic Forum, 20(1): 1-6. www.globalacademicgroup.com.

Asuquo A. I. (2011b). The application of standard magnitude variance in optimal capital structuring/working capital management in business organizations. Multi- Disciplinary Journal of Academic Excellence, 5 (1):109-120.

Asuquo A. I., Dada E. T., Onyeogaziri U. R. (2018). The effect sustainability reporting on corporate performance of selected quoted brewery firms in Nigeria. International Journal of Business & Law Research, 6(3) 1-10 July-September, www.seahipaj.org.

Asuquo A. I., Akpan A. U. (2011). Management involvement and the relevance of forensic investigations of selected financial institutions in Cross River State. Nigerian Journal of Education, Health, and Technology Research (NJEHETR). 1(2): 35-44.

Asuquo A. I., Effiong S. A. (2010). Reporting the financial effects of price-level changes in globalized economy, Nigeria. International Journal of Management Science, 2(3):6–77.

Asuquo A. I. (2008). Applicability of standard magnitude variance in determination of financial progress of selected business organization in Calabar, Nigeria. Journal of Business Administration and Management, 3(4):98–110.

Ball R., Shivakumar L. (2005). Earnings quality in UK private firms: Comparative loss and recognition timeliness. Journal of accounting and economics, 39(1): 83-123.

Balke N. S., Brown S. P. A., Yucel M. K. (2002). Oil price shocks and the U.S. Economy: where does the asymmetry originate? Energy journal, 23(3):27-52.

Bernanke B. S., Mark G., Watson M. (1997). Systemic monetary policy and the effects of oil price shocks. Brookings papers on economic activity 1:91-157.

Davis, S. J., & Haltiwanger, J. (2001). Sectoral job creation and destruction response to oil price changes. Journal of Monetary Economics, 48:465-512.

Ferderer J. (1996). Oil price volatility and the macro economy, Journal of Macroeconomics 18: 1-26.

Jones C., Kaul G. (1996). Oil and the Stock Markets, Journal of Finance, 51: 463-491.

Udoayang J. O., Akpanuko E. E., Asuquo A. I. (2009). Multinational transfer pricing and international taxation: What, why, how and reporting challenges. African Research Review. 3(5.):165-181.

Uwah U. E., Asuquo A. I. (2016). Capital budgeting processes and wealth maximization objectives: Implications for firms in Nigeria. Research Journal of Finance and Accounting, 7(10):73-85.


Refbacks

  • There are currently no refbacks.


Copyright (c) 2020 J. O. Udoayang, E. I. Usang, E. F. Enya

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

The research works published in this journal are free to be accessed. They can be shared (copied and redistributed in any medium or format) and\or adapted (remixed, transformed, and built upon the material for any purpose, commercially and\or not commercially) under the following terms: attribution (appropriate credit must be given indicating original authors, research work name and publication name mentioning if changes were made) and without adding additional restrictions (without restricting others from doing anything the actual license permits). Authors retain the full copyright of their published research works and cannot revoke these freedoms as long as the license terms are followed.

Copyright © 2015-2018. European Journal of Management and Marketing Studies (ISSN 2501 - 9988) is a registered trademark of Open Access Publishing GroupAll rights reserved.

This journal is a serial publication uniquely identified by an International Standard Serial Number (ISSN) serial number certificate issued by Romanian National Library. All the research works are uniquely identified by a CrossRef DOI digital object identifier supplied by indexing and repository platforms. All the research works published on this journal are meeting the Open Access Publishing requirements and standards formulated by Budapest Open Access Initiative (2002), the Bethesda Statement on Open Access Publishing (2003) and  Berlin Declaration on Open Access to Knowledge in the Sciences and Humanities (2003) and can be freely accessed, shared, modified, distributed and used in educational, commercial and non-commercial purposes under a Creative Commons Attribution 4.0 International License. Copyrights of the published research works are retained by authors.