M&A in Oil Sector: Factors Influencing Deal Price

Student: Oganyan Lyudvig

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2016

Oil and gas industry is characterized by high volume and number of M&A deals, especially in upstream sector, which is the object of research. Data over the period 2008-2016 is analyzed in attempt to predict future deals with out of sample tool applied. Oil price, amount of reserves and production are taken as explanatory variables, traditionally used in the issue, while non-sector assets, government take, deal level and deal size are taken as innovation terms.

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