Detalle Publicación

ARTÍCULO
Are mergers and acquisitions in the petroleum industry affected by oil prices?
Título de la revista: ENERGY SOURCES. PART B. ECONOMICS, PLANNING, AND POLICY
ISSN: 1556-7249
Volumen: 12
Número: 5
Páginas: 420 - 427
Fecha de publicación: 2017
Resumen:
This paper contributes to the literature on crude oil price behavior and examines how this affects mergers and acquisitions (M&A) in the petroleum industry in the US. The paper analyzes the relationship of these two series by studying its dynamic in the time¿frequency domain. The novelty of this study¿s approach lies in the application of wavelet tools for its resolution. Monthly data are used in this study, covering the period January 1980¿June 2012. It was observed that there was a shift to higher frequencies of the wavelet coherency during the mid-1990s and the late 2000s. The results also indicate that during the mid-1990s and the late-2000s, an increase in M&A took place that was led by the increase in West Texas Intermediate crude oil prices.