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Robustness Of Firm-Specific And Macroeconomic Determinants Of Exploration Investments Implications From Egyptian Oil & Gas Industry, Mohamed Rashwan, Tarek Eldomiaty, Mohamed Bahaa El Din

Business Administration

Purpose – The uncertainty that surrounds oil and gas exploration environments call for an examination at different angles. In terms of robustness, the purpose of this paper is to focus on three performance measurements: the amount of exploration investments, the growth rate of exploration investments, and the value at risk (VaR) of exploration investments.

Design/methodology/approach – The study utilizes the properties of discriminant analysis for deriving Z-score models that can be used for monitoring firms’ performance. A cointegration analysis is utilized as well in order to examine the level of cointegration between predictors of each performance measure. The sample includes …