DocumentCode :
2852412
Title :
Analysis of Investment Decision System for Oil Companies Based on System Dynamic Principles
Author :
Wang, Qing ; Zhang, Baosheng ; Shang, Yongqing
Author_Institution :
Sch. of Bus. Adm., China Univ. of Pet. (Beijing), Beijing, China
fYear :
2010
fDate :
13-15 Aug. 2010
Firstpage :
214
Lastpage :
217
Abstract :
In order to escape of risk and gain high returns, it is important for oil companies to determine the scale and structure of investment in upstream business. By introducing system dynamic principles, this paper builds a system dynamics model of upstream investment decision on basis of the oil company´s practice in China. Empirical results show that total investment scale will decline and the proportion of exploration investment will also decrease as well as ascent of development investment ratio. System dynamics can be applied to analysis and forecast of upstream investment scale and structure as a new method and provide the basis for making decision.
Keywords :
decision making; investment; petroleum industry; China; development investment ratio; investment decision system; oil companies; system dynamic principles; upstream investment scale; Analytical models; Biological system modeling; Companies; Investments; Petroleum; investment decision system; oil company; system dynamics; upstream investment;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Business Intelligence and Financial Engineering (BIFE), 2010 Third International Conference on
Conference_Location :
Hong Kong
Print_ISBN :
978-1-4244-7575-9
Type :
conf
DOI :
10.1109/BIFE.2010.58
Filename :
5621763
Link To Document :
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