فصلنامه مطالعات اقتصاد انرژی
پیاپی 79 (زمستان 1402)

The production of all goods and services is often associated with unwanted side output, which neglecting it in the calculation of the output can cause a significant distortion in the calculation of productivity This article, using the estimation of Malquist--Lionberger and Malmquist indexes, has investigated the difference in the results of attention to the undesirable output in calculating the productivity of 24 ISIC two-digit code activity fields during the period of 2011-2018. . The comparisons show that there is a significant gap between the productivity score with regard to adverse conditions and productivity regardless of adverse conditions. The results of the test confirm the existence of the considered significant difference.Therefore, it statistically makes and considering unfavorable is more reliable and can be more appropriate in this context. The average productivity of the manufacturing sector without taking into account the undesirable result was equal to 0.895, while with this result, the productivity of the same sector reached 0.908. This result shows the importance of paying attention to the side output for accurate measurement of corporate productivity

This study seeks to investigate the effect of uncertainty caused by oil shocks on the stock market in the Tehran Stock Exchange. For this purpose, in this research, first using Box and Jenkiz approach and using the family of Garch models, for the daily period of 2008 to 2021 (4632 days in total), first the oil price uncertainty index and the Tehran Stock Exchange index are extracted. The effects of these two variables on each other were then investigated using VAR analysis. The results show that the global oil price has a significant effect on the stock market index and oil price fluctuation has a significant effect on the stock market index fluctuation. There is also a positive relationship between oil prices and stock return index using causality test; This means that the increase in oil prices leads to an increase in the stock return index in the Tehran securities market. Also, the results of the instantaneous reaction functions emphasize the positive relationship between oil price shocks and the stock return index.

This research, while evaluating the issue of unregulated production of oil resources, answers the question of how to achieve conservative production as observing all technical and legal aspects, including reservoir management, increasing the recovery factor, providing the basis and possibility of using "advanced technologies", and "setting correct contracts" by complying with the policies and contractual requirements. Conservative production is different depending on the political and economic conditions of each country, and its realization will lead to the provision of resources and national interests of the society and the future generation. In this research, all technical, economic, legal and environmental requirements, dimensions and the determination of the necessary contractual conditions that have a significant effect on securing and guaranteeing national interests have been evaluated.

One of the basic criteria for making decisions in the stock market is stock returns. Stock returns can be affected by risk. Risk is statistically divided into explained (systematic) and unexplained (unsystematic) groups. The present study was conducted with the aim of measuring the efficiency of stock returns based on risk in petrochemical industries by the fuzzy dynamic network data envelopment analysis method. The statistical sample studied are 10 petrochemical companies admitted to the Tehran Stock Exchange. Data analysis was done in two parts. In the first step, systematic and unsystematic risk for entering the network were calculated. In the second stage, using fuzzy dynamic network data coverage analysis, the efficiency of stock returns for petrochemical industries of Tehran Stock Exchange was measured in the period of 2019 to 2019. Based on the obtained results, three petrochemical companies Maron, Jam Petrochemical and Zagros Petrochemical have higher efficiency than other petrochemical companies. Therefore, the three mentioned companies were more controllable for systematic and unsystematic risk among the companies.

The petrochemical industry, as one of the main sectors of the downstream oil industries, plays an important role in the country's economy. In Iran, the petrochemical industry has a special position by having the first place in creating added value and non-oil exports. In 2005, with the announcement of the general policies of Article 44 of the Constitution, privatization flourished in the country and most of the companies under the National Petrochemical Industries Company were handed over to the private sector. Considering the prominent role of the petrochemical industry in Iran's economy and considering the fact that 20% of the total privatizations carried out in Iran are related to the petrochemical industry, in this research, the impact of privatization on the economic performance of the Iranian petrochemical industry has been investigated. For this purpose, using the data of ten selected petrochemical companies in the period of 2008-2022 and using the panel data method, the effect of privatization on the production, total productivity and investment of the petrochemical industries of Iran has been evaluated. The results indicate that the effect of privatization on all three variables of production, total productivity and investment of the company is positive and significant.

project portfolio management is a framework for integrated management of projects to achieve strategic goals of companies, considering the constraints. Its significance is more apparent in uncertain conditions that prevails in Iran's oil and gas industries, which confronts with capital constraints, sanctions, and economics fluctuations. The itroduced framework in this research encompasses the identification and definition of various scenarios for each oil and gas field, determination of mathematical model parameters, necessary data for calculating the model parameters, and the process and methods for their identification. Ultimately, it leads to the development of a mathematical model, which is the distinctive aspect of this study. The research, in terms of objective, is an application with a modeling and mathematical simulation approach, to providing a model for selecting an optimal portfolio of investment projects for upstream oil and gas companies under uncertainty conditions. After collecting the required data, the mathematical programming model was designed as an integer zero-one programming model with an objective function to maximize the net present value of different field scenarios, considering investment constraints and other binding constraints. The coding of the above model was executed and the intended simulation for uncertain parameters was performed using the CRYSTALL BALL software.

In this research, in order to allocate financial resources to the capital and development projects of the upstream sector and the maintenance and support of the production capacity of the oil industry, by using the results of previous researches and based on the reliable reports and experiences of oil and fuel experts and using a model linear planning, optimal allocation amount to 74 oil capital/development projects of the following 5 main upstream oil and gas production companies, including the National Iranian South Oilfields Company (NISOC), Iranian Offshore Oil Company (IOOC), Iranian Central Oil Fields Company (ICOFC), Petroluem Engineering & Development Company (PEDEC) and Pars Oil & Gas Company (POGC) has been calculated and extracted in the year 1400. The main question of the research is that by maximizing the level of minimum allocation, how is the optimal allocation of financial resources to oil production and operational (capital) plans achieved. By entering the independent variables (74 capital projects and 20 relevant criteria) into the above model and calculating the dependent variables of the model (upper and lower limit of resource allocation) and maximizing the minimum level of allocation the amount of allocation and the share of optimal capital and development resources of each of the above five production Company is obtained from the budget. According to the results, most of the projects of NISOC in the year 1400 have a higher priority and share, and the rank and share of four other companies have also been obtained.