Financial Performance of Renewable Energy Production in Major Petroleum Companies Under Energy Transition Policy
エネルギー転換政策下における主要石油企業の再生可能エネルギー生産の財務パフォーマンス (AI 翻訳)
Ridha Ali Ben Saleh, Nicola Faccilongo, R. Rana
🤖 gxceed AI 要約
日本語
本研究は、2015年から2022年の27の主要石油企業を対象に、再生可能エネルギー生産が財務パフォーマンスに与える影響を動的GMMで分析。会計ベースの指標には正のU字型の影響が見られたが、市場ベースの指標には有意な影響がなかった。研究開発費は短期的に負の影響を与えた。石油業界で初の実証研究。
English
This study examines the impact of renewable energy production on financial performance for 27 major petroleum companies (2015-2022) using dynamic GMM. It finds a positive U-shaped effect on accounting-based metrics but no significant effect on market-based metrics. R&D spending negatively impacts short-term performance. This is the first empirical study on REP-FP in the petroleum industry.
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
石油メジャーの再エネ投資が財務に与える影響を実証した点は、日本企業（特にエネルギー関連）の投資判断やSSBJ対応に示唆を与える。再エネ移行が長期的に会計指標にプラスに働く可能性を示し、投資家向け開示に活用できる。
In the global GX context
This paper provides empirical evidence on how renewable energy production affects the financial performance of major oil companies, relevant for global energy transition discourse. It highlights that while market valuations may not immediately reflect RE investments, accounting metrics improve over the long run. This supports transition finance arguments and informs ISSB/TCFD disclosures on climate resilience and strategy.
👥 読者別の含意
🔬研究者:Empirical evidence on RE production and financial performance in the petroleum industry, using panel data and dynamic GMM. Methodological approach can be replicated for other sectors.
🏢実務担当者:Demonstrates that renewable energy investments improve accounting performance over time, supporting business case for diversification into renewables.
🏛政策担当者:Shows that mandatory transition policies can yield positive financial outcomes for fossil fuel companies, informing carbon pricing and energy transition policy design.
📄 Abstract（原文）
The primary objective of this study is to explore the impact of renewable energy (RE) production on financial performance (FP) in a panel of 27 Major Petroleum Companies (MPCs) covering the period from 2015 to 2022. For this purpose, we utilize the dynamic generalized method of moments in the framework of natural resource‐based view (NRBV) and Porter Hypothesis (PH). The findings indicate that renewable energy production (REP) positively and significantly impacts the accounting‐based metrics in the short and long run and this impact follow a U‐shaped trend. However, findings suggest that the impact of RE production on market‐based metrics is irrelevant. The outcomes also disclosed that the research and development have a negative impact on FP in the short run across both metrics. Importantly, our analysis includes a few outcomes variables for the robustness, all of which affirm the stability of our findings. This study is the first to empirically explore the impact of REP on FP in petroleum industry, which considered one of the most polluting companies globally. Hence, it contributes to knowledge gap into the impact of REP on corporate FP based on energy transation policy, which are deemed critical for financing the clean energy transation to meet the global net zero emission. By demonstrating the economic advantages of utilizing the clean energy, the study can encourage managers, policymakers, and investors to invest in renewables and thereby reducing dependence on fossil fuels.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://doi.org/10.1155/er/5230899first seen 2026-07-01 05:42:55
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