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2016年 第10卷 第1期

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《能源前沿（英文）》 >> 2016年 第10卷 第1期 doi: 10.1007/s11708-016-0396-8

Does oil price affect the value of firms? Evidence from Tunisian listed firms

1. Faculty of Economics and Management of Sfax, University of Sfax, Monastir 5046, Tunisia.2. Department of Accounting, College of Business & Economics, Qassim University, Buraidah 51431, Kingdom of Saudi Arabia

录用日期： 2016-02-01 发布日期： 2016-02-29
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A new debate on the potential impact of oil price changes on the value of firms was initiated in this paper. Using a stochastic frontier approach, an attempt was made to derive the optimal value * of firms and calculate the value observed. Then the shortfall ( *– ) which represents the inefficiency term was explained. Starting from 19 industrial Tunisian firms listed on the Tunis Stock Exchange between 2007 and 2011, the fact that variation of oil prices can largely explain distortions in the value of firms was empirically demonstrated.

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