Multiplex cross-shareholding relations in the global oil &amp; gas industry chain based on multilayer network modeling

Ren, Huijun; An, Haizhong; Ma, Ning; Yan, Lili

doi:10.1016/j.eneco.2021.105130

Cited by 13 publications

(8 citation statements)

References 22 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Similarly, world city networks and corporate elite networks have been widely linked with O&G companies (De Graaff, 2011; Loginova et al, 2020; Martinus et al, 2015; Martinus & Tonts, 2015; Verbeek & Mah, 2020). In addition, there are also studies focused on shareholder transnational advocacy networks targeting oil companies, as well as global energy networks from different perspectives through headquarters–subsidiary relationships, mergers and acquisitions, and cross‐shareholding relations by O&G companies (Guo et al, 2021; Li et al, 2021; McAteer & Pulver, 2009; Yang & Dong, 2016).…”

Section: Strategic Responses Of Oandg Companies To Global Shiftsmentioning

confidence: 99%

Globalization and decarbonization: Changing strategies of global oil and gas companies

Guo

Yang

Bradshaw

et al. 2023

WIREs Climate Change

View full text Add to dashboard Cite

Oil and gas (O&G) companies, as key players in the contemporary global energy landscape, have evolved within the context of a dynamic interaction between states and markets. However, their role is being transformed radically by two successive “global shifts”: economic globalization—driving energy demand growth patterns—and climate change—driving energy system transformation and decarbonization, both of which require them to reconsider their business strategies. Using an interdisciplinary lens that draws on human geography, strategy and international business, and international political economy, we propose an integrated conceptual framework for two periods—the 1990s–early 2010s and the post‐Paris Agreement era—to explore the nature of strategic responses by O&G companies to these global economic and environmental shifts. We illustrate the linkage of O&G companies' two strategies of (re‐)globalization and decarbonization by the aspects of production, finance, and knowledge as internal structures. Energy security is one of the priorities in the macro external environment. It is becoming increasingly difficult for O&G companies to deal with current dilemmas: climate goals require a significant reduction in fossil fuel production and consumption, and pressures from governments, nongovernmental organizations, and investors threaten the long‐term survival of O&G companies, while fossil fuel demand will remain high in the short to medium term. At the same time, the post‐pandemic recovery and Russia's war in Ukraine are resulting in a re‐assessment of the benefits of unfettered globalization. Therefore, global O&G companies face dual challenges in the new era of (re‐)globalization and decarbonization and need to make changes to ensure their future viability.This article is categorized under: The Carbon Economy and Climate Mitigation > Decarbonizing Energy and/or Reducing Demand

show abstract

Section: Strategic Responses Of Oandg Companies To Global Shiftsmentioning

confidence: 99%

Globalization and decarbonization: Changing strategies of global oil and gas companies

Guo

Yang

Bradshaw

et al. 2023

WIREs Climate Change

View full text Add to dashboard Cite

show abstract

“…Whether from the perspective of enterprise survival or from the perspective of maximizing enterprise value and shareholders' interests, enterprises will choose enterprises that can solve their own difficulties to a certain extent as the object of cross-shareholding. Participation in cross shareholding can promote reciprocity [8], After enterprises realize cross-shareholding, they will more or less become a community of interests to a certain extent, and the operation changes of one party will have an impact on the other party. If two enterprises trapped in the operation quagmire cooperate with each other, they may not be able to solve their own operation problems well, but also fall into a more difficult situation due to the drag of partners.…”

Section: Research Hypothesismentioning

confidence: 99%

Research on Cross-Shareholding Behavior of Chinese Listed Companies

Sun¹,

Yuan²,

Chen³

et al. 2022

JIM

View full text Add to dashboard Cite

It is an increasingly view that there is a large number of cross-shareholding behaviors in listed companies in China.Cross-shareholding exists in a large number of listed companies, and the cross-shareholding behavior of various industries is different. This paper studies this problem. China's A-share listed companies can be divided into six categories: finance, real estate, comprehensive, industry, public utilities and commerce. This paper first describes the changes and characteristics of cross-shareholding in these different industries by using the network analysis method, and then studies the main factors of enterprises participating in cross-shareholding in these six industries by using the data from 2007 to 2016 according to the financial indicators that can represent the characteristics of listed companies, such as asset scale, debt degree, operation ability and development ability. By studying the characteristics of enterprises participating in and exiting cross-shareholding, the study found that after the global financial crisis in 2008, the number of enterprises participating in cross-shareholding in various industries increased to a certain extent, but in 2014, after the financial crisis was relatively alleviated, the number of enterprises participating in cross-shareholding decreased significantly. On the whole, enterprises with large assets and stable long-term operation and development are easier to participate in and realize cross-shareholding when short-term liabilities and operation difficulties occur. However, this cross-shareholding behavior is relatively unstable. Enterprises will participate in cross-shareholding only when they encounter some operating difficulties. The role of cross-shareholding in integrating enterprise resources and promoting the long-term development of enterprises has not been effectively played in China.

show abstract

“…To investigate these complex systems static networks have been constructed, with each node representing a variable in the system (component/subsystem in the time series data) and each edge an interaction between variables (such as causality, correlation, etc.) 17 – 23 . For clarity, in this paper networks of this type with causality interactions will be referred to as “causality patterns” 13 .…”

Section: Introductionmentioning

confidence: 99%

Incorporation of causality structures to complex network analysis of time-varying behaviour of multivariate time series

Carlos-Sandberg

Clack

2021

Sci Rep

View full text Add to dashboard Cite

This paper presents a new methodology for characterising the evolving behaviour of the time-varying causality between multivariate time series, from the perspective of change in the structure of the causality pattern. We propose that such evolutionary behaviour should be tracked by means of a complex network whose nodes are causality patterns and edges are transitions between those patterns of causality. In our new methodology each edge has a weight that includes the frequency of the given transition and two metrics relating to the gross and net structural change in causality pattern, which we call $$\alpha$$ α and $$\beta$$ β . To characterise aspects of the behaviour within this network, five approaches are presented and motivated. To act as a demonstration of this methodology an application of sample data from the international oil market is presented. This example illustrates how our new methodology is able to extract information about evolving causality behaviour. For example, it reveals non-random time-varying behaviour that favours transitions resulting in predominantly similar causality patterns, and it discovers clustering of similar causality patterns and some transitional behaviour between these clusters. The example illustrates how our new methodology supports the inference that the evolution of causality in the system is related to the addition or removal of a few causality links, primarily keeping a similar causality pattern, and that the evolution is not related to some other measure such as the overall number of causality links.

show abstract

Multiplex cross-shareholding relations in the global oil & gas industry chain based on multilayer network modeling

Cited by 13 publications

References 22 publications

Globalization and decarbonization: Changing strategies of global oil and gas companies

Globalization and decarbonization: Changing strategies of global oil and gas companies

Research on Cross-Shareholding Behavior of Chinese Listed Companies

Incorporation of causality structures to complex network analysis of time-varying behaviour of multivariate time series

Contact Info

Product

Resources

About