Impact of Paris Agreement on financing strategy: Evidence from global FPSO industry
نویسندگان
چکیده
This study explores the impact of Paris Agreement on determinants firm-level capital structure decisions listed contractor-owned Floating Production Storage and Offloading (FPSO) companies in oil gas (O&G) industry from 2000 to 2019. The identified various financing structures between FPSO due their individual institutional characteristics. Tangibility, profitability, market-to-book (growth), size effective tax rates are critical structure. Overall, results support applying pecking-order theory (PoT) a macro-economic context. 2015 ratification significantly impacted determinants; dynamic association has changed post-Paris period. Besides, global financial crisis leverage ratios was potentially mitigated by upward trend Brent crude price 2007 2013.
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ژورنال
عنوان ژورنال: Technological Forecasting and Social Change
سال: 2023
ISSN: ['0040-1625', '1873-5509']
DOI: https://doi.org/10.1016/j.techfore.2022.122266