The increasing instability within the global oil sector poses a challenge for contemporary companies to devise and implement effective financial stability strategies. The aim of this study is to ...analyse the financial stability strategies employed by oil companies, explore alternative approaches amidst the global volatility of the oil market, and develop a methodological framework for evaluating financial strategies, utilising an alternative options matrix. The author's methodological approach is proposed: a matrix of the company's alternative financial strategies is created. In this study, data from the top 10 largest oil companies in the world for the years 2015–2019 were utilised. Exxon Mobil and CNPC exhibit the lowest level of financial stability. A sustainable growth strategy is necessary for Aramco, Rosneft, and ADNOK. Kazmunaigas should adopt a strategy focused on ensuring financial stability in the event of adverse external conditions. For Exxon Mobil, maintaining financial stability is a relevant strategy. CNPC should consider implementing a financial stabilisation strategy contingent upon favourable market dynamics. The practical significance of the research results lies in providing specific conclusions and recommendations regarding optimal financial stability strategies for oil companies and stakeholders amidst global market volatility conditions. The analysis of the alternative financial strategies matrix may serve as a foundation for managerial decision-making aimed at ensuring company resilience in fluctuating economic environments and enhancing their competitiveness.
•The study focuses on diagnosing and correlating key financial stability ratios.•The author's methodological approach is proposed.•The data from 11 of the world's largest oil companies are used in the study.•Exxon Mobil and CNPC exhibit the lowest level of financial stability.•A sustainable growth strategy is necessary for Aramco, Rosneft, and ADNOK.
Sustainable energy is paramount in advancing initiatives about energy conservation and transitioning towards clean, secure, and efficient energy sources. The research objective is to assess the ...impact of alterations in energy intensity on the socioeconomic development of a country. The study includes monitoring the prospects of countries in the EECCA (Eastern Europe, Caucasus, and Central Asia) region whose energy markets rely on the traditional model of energy production. The panel data method and empirical estimation for correlation calculations are oriented towards the context of Azerbaijan, a major producer of crude oil and natural gas in the Caspian-Black Sea region. The obtained results have demonstrated that the predominant current trend in most countries of the Caspian-Black Sea region is characterized by intensive growth in energy intensity. It is found that Azerbaijan has one of the highest rates of energy self-sufficiency within the developing energy sector. Furthermore, the renewable energy sector is experiencing a decline, while the proliferation of CO2 emissions is characterized by the presence of eco-social consequences stemming from the activities of the energy sector. Empirically, the correlation between energy intensity and both economic development and sustainable social policies has been proven. It has been determined that Azerbaijan's economic policy is directed towards specific measures aimed at reducing energy intensity, which presents a contradiction for countries in the Caspian-Black Sea region. However, advocating for the attainment of Sustainable Development Goal 7 within the framework of the global economy is a necessary and logical measure for enhancing energy efficiency in the context of sustainable economic development. Practical application of the results can be used in the practice of state management of energy sector development as part of achieving the objectives of the global economy.
•The main trend at national level in the EECCA region is an intensive energy growth.•Energy intensity is an important aspect of socio-economic development.•The low role of renewable energy sources is critically damaging to the environment.
Logistics and transport-production processes are critical components in the management of supply chains for enterprises. Increasing demands for the accessibility and efficiency of these processes ...necessitate further refinement of logistics theory and practice. The primary objective of this research was to establish the interrelationship between the structure and functioning of transport operations within manufacturing enterprises. The application of cluster analysis methods revealed the unique structure of each cluster, reflecting the specificity of transport operations. The obtained results determine the stability of the logistic cluster for a specific type of transport and its impact on overall efficiency. The research also emphasizes the importance of improving the quality of transport-production processes to ensure efficiency in supply chains. Quality and logistics service analysis identified factors that can be enhanced, such as service complexity, responsiveness to unforeseen orders, professionalism of the personnel, and fulfillment of order-related commitments. The conclusions drawn contribute to the development of logistics science and theory, providing practical insights by urging manufacturing companies to implement recommendations for optimizing their transport-production processes and selecting the most effective partners in this context. Thus, the originality of the article lies in expanding theoretical concepts of logistics and defining the specifics of transport-production processes.
•A conceptual scheme of supply chain optimization has been developed.•The structure of transportations has been analyzed using cluster analysis.•The optimization technique of production and commercial activity has been adjusted.
The purpose of this study was to identify the potential initiators of energy wars and determine their boundaries of influence through the prism of energy dependency. The study also evaluated the ...impact of energy resources on the economic development of 48 countries. The development priorities of those countries were substantiated through establishing the linkage between energy intensity and indicators reflecting the impact of energy resources on economic development. The study offered an energy dependence matrix, which shows which market players can actively participate in energy wars. Using data from the matrix and integrative analysis of energy dependence indicators, the energy dependence forecast was made. The forecast presents optimistic, realistic, and pessimistic scenarios for the short-term (up to 2025) and long-term (up to 2030) impacts of energy wars. The study proposes a novel approach to assessing the impact of energy wars, which implies that the consequences of energy-induced conflict should be evaluated based on forecasted and threshold values. The major threat to the global energy market was found to be political instability in energy-rich countries. The proposed methodological approach is suitable for all groups of countries and allows preventing negative consequences of energy wars through minimizing the level of energy dependence.
Under the influence of economic, technological and political factors, the oil market is prone to constant change, which requires analysis of its developmental trends. The purpose of this article is ...to do a comprehensive analysis of the impact of OPEC + countries on trade wars in the global oil market. The methodological basis of the study was the method of analysis, monitoring and grouping of subject-thematic materials through a logical sequence. The method of analysis is used to determine the features of world oil market globalization, followed by highlighting the advantages and disadvantages of its impact. The study then used monitoring to analyze the linkage of the generalized oil supply and demand balance over the past decade and the factors that affect the development of the oil market. Finally, the tariff and non-tariff instruments used in the OPEC + trade wars were grouped. It has been revealed that the interaction between the participants of the world oil market increases due to the excess of supply over demand within the global balance. This fact can lead to trade conflicts, including the use of non-tariff measures by OPEC + countries such as: voluntary state restrictions, license requirements, quarantine, quotas. In general, the results of the comprehensive analysis showed that the emergence of trade wars in a globalized oil market is influenced by the interaction of three components: institutional, economic and technological, which are complemented by the information base. However, at present, OPEC + performs the function of stabilizer, which reduces trade conflicts in the world oil market. The results obtained can be used in the development of strategies and methods of regulation of trade conflicts in the world oil market by both OPEC + countries and other countries of the world in the context of foreign policy.
•Globalization has impact on new fields development and oil production increase.•Tariff trade wars are popular tool used by supplying and consuming countries.•Oil remains the key energy resource in world market today despite various reasons.
The article is dedicated to study of the impact of the quality of education on the economic growth in Azerbaijan. The quality index of education has been selected for two levels: a) up to higher ...education; b) higher school and post higher school. The indicator of average score (if available) that an applicant obtained in the current year on the country in student admission to the higher schools as a quality index of education in the country at the pre-higher education is offered as an alternative to the number of upper grades (10-12) in the secondary education. In the higher and post-higher education level, the number of articles printed on basic science and engineering per million people in Azerbaijan, and indexed on the Web of Science is taken as a quality index of education. Semi-linear type regression equations were made to assess the dependence of the indicators characterizing economic development.
New Approach to State Protection of Competition Nazim Hajiyev, Adalat Muradov, Rovshan Akbarov
Turkish journal of computer and mathematics education,
04/2021, Volume:
12, Issue:
6
Journal Article
Open access
The aim of the article is to improve the possibilities for learning and applying practical tips on competition protection, and to develop ways to promote competition and economic growth that will ...enhance the prosperity of the economy and society. It is important that the goal of competition protection is to create conditions that will lead to a more competitive market structure and business behavior without direct intervention from the competition body. Note that the most disadvantageous alternative to the competition body is the application of close and lasting control of the dominant firms by competition law. This alternative results in more inadequate funding by requiring more resources. Modern economic reality, characterized by the transformation of economic relations, business globalization, integration of transitional economies into the global space, makes the development of competitive relationships more important for improving economic and innovation performance. As a result, it has been established that a successful market economy requires a competitive culture within the country. Both consumers and the business community need to be aware of their competitive policies and how they can benefit from it. Competition agencies play an important role in this learning process.
Oil price shocks are generally seen as a major factor affecting the macroeconomic situation of the country, especially oil exporting countries such as Azerbaijan. While some authors have stated the ...direct channels of transmission of energy price shocks, other authors have considered the more of an indirect transmission of oil prices effects to the major macroeconomic variables. In this paper a cointegrated vector autoregressive model, vector error correction model model has been considered for Azerbaijan in order to study the response of inflation to oil price shocks. Empirical analysis shows that, for Azerbaijan there seems to be a statistical significant short-run relationship of unexpected oil price shocks on inflation rate that supported to reveal the imported inflation in Azerbaijan. Besides, there have been found a long run relationship running from exports, exchange rate, money supply, imports to the inflation in Azerbaijan as well. In conclusion, decreases in oil prices are transmitted to high imported inflation by lowering the value of domestic exchange rate and increasing the value of imports.
The purpose of this study is to develop a comprehensive methodological approach to assess the sustainability of the e-commerce business model based on the integration of key performance indicators ...into a single vector of business model sustainability. The proposed vector approach allows for predicting and evaluating the effects of different kinds of measures, identifying and implementing the most effective tools for sustainable e-commerce business development. The methodology of this study is based on correlation, cluster and regression analysis. The scientific contribution of this study is the proposed methodological approach, which not only allows one to analyze business model sustainability, but also to compare companies in a competitive environment to determine the priorities of their functioning to achieve leadership positions on the background of sustainable development. The correlation analysis proved that in modern conditions, both economic and environmental components are significant for business model effectiveness in e-commerce. The clustering of the studied e-commerce companies provided an opportunity to take into account the peculiarities of the studied companies, to group them by similar performance indicators. This made it possible to develop more accurate regression models for each cluster. In this case, there is a correlation between the sustainability vector of the business model of a company and its assignment to a particular cluster. The conducted modeling and determination of the level of business model sustainability allowed for determining a relationship between it and the performance of e-commerce companies in the context of economic, environmental and social dimensions. At the same time, the results show that increasing the sustainability vector brings a company closer to the business sustainability benchmark.
PDF
