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DOI | 10.1016/j.enpol.2019.01.075 |
Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector | |
Sharma, Sunil; Sud, Mukesh | |
2019-08-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 131页码:33-42 |
文章类型 | Article |
语种 | 英语 |
国家 | India |
英文摘要 | India's economy is heavily dependent on foreign oil with the country importing nearly 80% of its crude requirement. Consequently, government of India has been keen to encourage private investment in this sector through attractive policy frameworks. The earlier New Exploration Licensing Policy (1999-2015) has met with limited success, especially in the context of attracting multinational firms, necessitating its replacement with Open Acreage Licensing Policy. The factors that resulted in the limited success of a regulatory framework are not fully understood, especially the impact of firms bidding behavior. This paper adopts a qualitative approach to examine bidding decisions of four petroleum exploration firms across several bidding rounds from a resource picking mechanism perspective. Our findings suggest that uncertainties in the regulatory framework were exploited by the firms resulting in policy inefficacy. Our research identifies four variants of uncertainties and three types of aggressive bidding behavior. We recommend that in order to increase policy efficacy, there is a need to decrease stance uncertainty. Further adoption of a behavioral strategy lens to examine regulatory policy can inform the extant literature. |
英文关键词 | Uncertainty Bidding behavior Oil and gas exploration Regulatory framework Policy efficacy |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000472125200004 |
WOS关键词 | MANAGEMENT ; ENTREPRENEURSHIP ; PERFORMANCE ; UNCERTAINTY ; INVESTMENT ; CAPABILITY ; COMPANIES ; COGNITION ; CRISIS |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/185542 |
专题 | 气候变化 |
作者单位 | Indian Inst Management Ahmedabad, Business Policy, Ahmadabad 380015, Gujarat, India |
推荐引用方式 GB/T 7714 | Sharma, Sunil,Sud, Mukesh. Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector[J]. ENERGY POLICY,2019,131:33-42. |
APA | Sharma, Sunil,&Sud, Mukesh.(2019).Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector.ENERGY POLICY,131,33-42. |
MLA | Sharma, Sunil,et al."Impact of regulatory framework on bidding behavior of firms: Policy implications for the oil & gas sector".ENERGY POLICY 131(2019):33-42. |
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