The financial performance of energy companies: A review of literature

Felicetta Iovino

Article ID: 2348
Vol 6, Issue 1, 2023

VIEWS - 6384 (Abstract) 4696 (PDF)

Abstract


The financial performance of energy companies has become a significant object of investigation in the most recent international literature following the processes of privatization, liberalization and deregulation that have characterized these enterprises in the last twenty years. The objective of this work is to carry out an analysis of the main international literature on the subject. To this end, the main aspects considered as determining the aforementioned performances will be highlighted, constructing a related synthesis framework with possible further and future research guidelines.


Keywords


financial performance; energy; markets; electricity; gas

Full Text:

PDF


References


1. Dayanandan A, Donker H. Oil prices and accounting profits of oil and gas companies. International Review of Financial Analysis 2011; 20(5): 252–257. doi: 10.1016/j.irfa.2011.05.004

2. Vătavu S, Lobonț OR, Para I, Pelin A. Addressing oil price changes through business profitability in oil and gas industry in the United Kingdom. PLoS One 2018; 13(6): 1–22. doi: 10.1371/jPurnal.pone.0199100

3. Pätäri S, Jantunen A, Kyläheiko K, Sandström J. Does sustainable development foster value creation? Empirical evidence from the global energy industry. Corporate Social Responsibility and Environmental Management 2012; 19(6): 317–326. doi: 10.1002/csr.280

4. Feng Y, Chen HH, Tang J. The impacts of social responsibility and ownership structure on sustainable financial development of China’s energy industry. Sustainability 2018; 10(2): 301. doi: 10.3390/su10020301

5. Jiang Y, Xue X, Xue W. Proactive corporate environmental responsibility and financial performance: Evidence from Chinese energy enterprises. Sustainability 2018; 10(4): 964. doi: 10.3390/su10040964

6. Filbeck G, Gorman RF. The relationship between the environmental and financial performance of public utilities. Environmental and Resource Economics 2004; 29(2): 137–157. doi: 10.1023/B:EARE.0000044602.86367.ff

7. Pätäri S, Arminen H, Tuppura A, Jantunen A. Competitive and responsible? The relationship between corporate social and financial performance in the energy sector. Renewable and Sustainable Energy Reviews 2014; 37: 142–154. doi: 10.1016/j.rser.2014.05.012

8. Locatelli G, Mancini M. Small-medium sized nuclear coal and gas power plant: A probabilistic analysis of their financial performances and influence of CO2 cost. Energy Policy 2010; 38(10): 6360–6374. doi: 10.1016/j.enpol.2010.06.027

9. Zhang H, Zheng Y, Zhou D, Zhu P. Which subsidy mode improves the financial performance of renewable energy firms? A panel data analysis of wind and solar energy companies between 2009 and 2014. Sustainability 2015; 7(12): 16548–16560. doi: 10.3390/su71215831

10. Gupta K. Do economic and societal factors influence the financial performance of alternative energy firms?. Energy Economics 2017; 65: 172–182. doi: 10.1016/j.eneco.2017.05.004

11. Iovino F. The choices of marketing policies of energy companies (Italian). Management Delle Utilities 2012; 4: 23–35.

12. Iovino F. Relationship marketing by energy companies. Review of International Comparative Management 2015; 16(5): 558–573.

13. Iovino F. Internet marketing in energy companies: The case of a Roman electricity company (Italian). Mercati & Competitività 2014; 3: 141–161. doi: 10.3280/MC2014-003008

14. Altoé AV, da Costa Jr N, Lopes ALM, et al. Technical efficiency and financial performance in the Brazilian distribution service operators. Socio-Economic Planning Sciences 2017; 59: 79–92. doi:

15. 1016/j.seps.2017.01.003

16. Akhtar S, Javed B, Maryam A, Haleema S. Relationship between financial leverage and financial performance: Evidence from fuel & energy sector of Pakistan. European Journal of Business and Management 2012; 4(11): 7–17.

17. Cole C, Yan Y, Hemley D. Does capital structure impact firm performance: An empirical study of three US sectors. Journal of Accounting and Finance 2015; 15(6): 57–65.

18. Sueyoshi T, Goto M. Operational synergy in the US electric utility industry under an influence of deregulation policy: A linkage to financial performance and corporate value. Energy Policy 2011; 39(2): 699–713. doi: 10.1016/j.enpol.2010.10.043

19. Arocena P, Blazquezb L, Grifell-Tatjec E. Assessing the consequences of restructuring reforms on firms’ performance. Journal of Economic Policy Reform 2011; 14(1): 21–39. doi: 10.1080/17487870.2011.538982

20. Silvestre B, Hall J, Matos S, Figueira LA. Privatization of electricity distribution in the Northeast of Brazil: The good, the bad, the ugly or the naive?. Energy Policy 2010; 38(11): 7001–7013. doi: 10.1016/j.enpol.2010.07.015




DOI: https://doi.org/10.24294/fsj.v6i1.2348

Refbacks

  • There are currently no refbacks.


Copyright (c) 2023 Felicetta Iovino

License URL: https://creativecommons.org/licenses/by-nc/4.0