財務ディストレスから財務レジリエンスへ：エネルギー転換期における石油ガス企業の決定要因と研究課題の系統的レビュー
From Financial Distress to Financial Resilience: A Systematic Review of the Determinants and Research Agenda for Oil and Gas Firms in the Energy Transition (原題)
Nugroho Setyo Utomo, Hermanto Siregar, Koes Pranowo, Nimmi Zulbainarni
🤖 gxceed AI 要約
日本語
石油ガス業界は、原油価格の高変動とネットゼロ移行の二重の混乱に直面し、既存企業の財務安定性が脅かされている。本研究はPRISMA 2020に基づく系統的レビューで、23件の研究を統合し、財務レジリエンスの決定要因（資本構成、流動性、グリーン設備投資、収益性、原油価格変動、金利、炭素価格など）を整理。財務ディストレスからレジリエンスへの視点転換を提案し、動的パネル（GMM）で検証可能な研究課題を提示する。
English
The oil and gas industry faces dual disruption from oil-price volatility and net-zero transition, threatening financial stability. This systematic review (PRISMA 2020) synthesizes 23 studies on determinants of financial resilience, including capital structure, liquidity, green capex, profitability, oil-price volatility, interest rates, and carbon pricing. It reframes the field from distress to resilience and proposes a research agenda testable with dynamic panel (GMM) methods.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本の石油・ガス企業はエネルギー転換への適応が急務であり、財務レジリエンスの決定要因の整理は、SSBJ開示や投資家対応における財務戦略の示唆を与える。特に炭素価格や気候政策が企業財務に与える影響は、日本の政策立案や企業のリスク管理に有用。
In the global GX context
This review consolidates fragmented evidence on financial resilience in oil and gas firms, offering a framework relevant to global transition finance and climate risk assessment. It highlights the role of carbon pricing and climate policy, aligning with ISSB and TCFD disclosure expectations for climate-related financial risks.
👥 読者別の含意
🔬研究者:Provides a structured research agenda and framework for studying financial resilience in energy transition, useful for empirical work.
🏢実務担当者:Identifies key determinants of financial resilience that corporate strategy and risk management can address.
🏛政策担当者:Highlights the impact of carbon pricing and climate policy on firm financial stability, informing policy design.
📄 Abstract（原文）
The oil and gas (O&G) industry faces a double disruption: structurally higher oil-price volatility and an accelerating net-zero transition that jointly threaten the financial stability of incumbent firms. This study reviews the determinants of financial resilience in O&G firms during the energy transition and consolidates a research agenda. Following the PRISMA 2020 protocol, a Boolean query in Scopus returned 74 records. After removing 5 duplicates and screening 69 records against pre-specified eligibility criteria, 23 studies were retained for synthesis, 22 of them oil-and-gas or energy-firm focused. Evidence was synthesised through an effect-direction matrix and organised with the ADO and TCCM frameworks. The literature converges on a recurrent set of determinants: internally, capital structure and leverage, liquidity, green capital expenditure, and profitability; externally, oil-price volatility, interest rates, and carbon pricing or climate policy. The evidence base remains fragmented and dominated by macro- and policy-level analyses, with limited firm-level dynamic modelling. The review reframes the field from financial distress toward financial resilience, proposes an integrative antecedents–decisions–outcomes framework, and articulates a TCCM-structured research agenda with propositions testable using dynamic panel (GMM) methods.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.38035/gijea.v4i3.1068first seen 2026-08-20 04:33:37
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gxceed は公開メタデータに基づく研究支援データセットです。要約・翻訳・解説は AI 支援で生成されています。 最終的な解釈・検証は利用者が原典資料に基づいて行うことを前提とします。