Evidence on the nature and extent of the relationship between oil prices and equity values in the UK

Idris El-Sharif; Dick Brown; Bruce Burton; Bill Nixon; Alex Russell

doi:10.1016/j.eneco.2005.09.002

Evidence on the nature and extent of the relationship between oil prices and equity values in the UK

Idris El-Sharif, Dick Brown, Bruce Burton, Bill Nixon, Alex Russell

Research output: Contribution to journal › Article › peer-review

353 Citations (Scopus)

Abstract

A number of recent studies have found a link between movements in crude oil prices and equity values. However, the literature concentrates almost exclusively on North American and Australian data and is primarily conducted at a stock market-wide level. The present study therefore investigates the relationship between the price of crude oil and equity values in the oil and gas sector using data relating to the United Kingdom, the largest oil producer in the European Union. The evidence indicates that the relationship is always positive, often highly significant and reflects the direct impact of volatility in the price of crude oil on share values within the sector.

Original language	English
Pages (from-to)	819-830
Number of pages	12
Journal	Energy Economics
Volume	27
Issue number	6
DOIs	https://doi.org/10.1016/j.eneco.2005.09.002
Publication status	Published - 2005

Keywords

Oil industry
Gas industry
Equity values

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10.1016/j.eneco.2005.09.002

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title = "Evidence on the nature and extent of the relationship between oil prices and equity values in the UK",

abstract = "A number of recent studies have found a link between movements in crude oil prices and equity values. However, the literature concentrates almost exclusively on North American and Australian data and is primarily conducted at a stock market-wide level. The present study therefore investigates the relationship between the price of crude oil and equity values in the oil and gas sector using data relating to the United Kingdom, the largest oil producer in the European Union. The evidence indicates that the relationship is always positive, often highly significant and reflects the direct impact of volatility in the price of crude oil on share values within the sector.",

keywords = "Oil industry, Gas industry, Equity values",

author = "Idris El-Sharif and Dick Brown and Bruce Burton and Bill Nixon and Alex Russell",

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AU - Brown, Dick

AU - Burton, Bruce

AU - Nixon, Bill

AU - Russell, Alex

N1 - dc.publisher: Elsevier

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N2 - A number of recent studies have found a link between movements in crude oil prices and equity values. However, the literature concentrates almost exclusively on North American and Australian data and is primarily conducted at a stock market-wide level. The present study therefore investigates the relationship between the price of crude oil and equity values in the oil and gas sector using data relating to the United Kingdom, the largest oil producer in the European Union. The evidence indicates that the relationship is always positive, often highly significant and reflects the direct impact of volatility in the price of crude oil on share values within the sector.

AB - A number of recent studies have found a link between movements in crude oil prices and equity values. However, the literature concentrates almost exclusively on North American and Australian data and is primarily conducted at a stock market-wide level. The present study therefore investigates the relationship between the price of crude oil and equity values in the oil and gas sector using data relating to the United Kingdom, the largest oil producer in the European Union. The evidence indicates that the relationship is always positive, often highly significant and reflects the direct impact of volatility in the price of crude oil on share values within the sector.

KW - Oil industry

KW - Gas industry

KW - Equity values

U2 - 10.1016/j.eneco.2005.09.002

DO - 10.1016/j.eneco.2005.09.002

M3 - Article

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JO - Energy Economics

JF - Energy Economics

IS - 6

ER -

Evidence on the nature and extent of the relationship between oil prices and equity values in the UK

Abstract

Keywords

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