Oil Price Volatility, Organization Capital, and Firm Performance

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dc.citation.issue2
dc.citation.volume25
dc.contributor.authorKamal JB
dc.contributor.authorCosta MD
dc.contributor.authorHabib A
dc.date.accessioned2024-05-14T22:51:28Z
dc.date.available2024-05-14T22:51:28Z
dc.date.issued2022-11
dc.description.abstractWe examine the relationship between oil price volatility and firm performance, and the moderating role of organization capital on this relationship. Using U.S. firm-level data during the period of 1986-2017, our analysis reveals several key findings. Consistent with the real option theory, we find that oil price volatility negatively affects firm performance. However, this adverse effect of oil price volatility is reduced for firms with high levels of organization capital. Interestingly, this moderating effect of organization capital is more pronounced for firms with large cash holdings. Overall, our findings substantiate the idea that firms with high levels of organization capital can hedge oil price related volatilities effectively. Findings from several robustness tests support our key results.
dc.description.confidentialfalse
dc.edition.editionNovember 2022
dc.format.pagination488-514
dc.identifier.citationKamal JB, Costa MD, Habib A. (2022). Oil Price Volatility, Organization Capital, and Firm Performance. American Business Review. 25. 2. (pp. 488-514).
dc.identifier.doi10.37625/abr.25.2.488-514
dc.identifier.eissn2689-8810
dc.identifier.elements-typejournal-article
dc.identifier.issn0743-2348
dc.identifier.number11
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69562
dc.languageEnglish
dc.publisherPompea College of Business, University of New Haven
dc.publisher.urihttps://digitalcommons.newhaven.edu/americanbusinessreview/vol25/iss2/11/
dc.relation.isPartOfAmerican Business Review
dc.rights(c) 2022 The Author/s
dc.rightsCC BY-NC 4.0
dc.rights.urihttps://creativecommons.org/licenses/by-nc/4.0/
dc.subjectOrganization Capital
dc.subjectOil Price Volatility
dc.subjectFirm Performance
dc.subjectCash Holdings
dc.titleOil Price Volatility, Organization Capital, and Firm Performance
dc.typeJournal article
pubs.elements-id460112
pubs.organisational-groupOther
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