Title
Analyzing the Market Cap Responsiveness to Capital Discipline Policies for Us Oil and Gas Producers
Date of Award
4-2023
Document Type
Honors Thesis
Degree Name
Bachelor of Science
Department
Finance
Advisor/Committee Chair
Hany Shawky
Committee Member
David Smith
Abstract
In this paper, the effect of specific capital discipline policies, capital structure and capital expenditures, is measured. Financial data from 2014 to 2022 are used to measure the impact of capital discipline policies on market cap. Capital structure measured through the debt-to-equity ratio and capital expenditures were both regressed against market cap to determine correlation. The regressions were sorted according to correlation strength and then grouped based off certain firm characteristics: Market cap, Resource produced, Geographical diversity, and level of integration. The results show little to no relationship between the studied characteristics and the level of market responsiveness to the studied capital discipline policies.
Recommended Citation
Srungarum, Sampath, "Analyzing the Market Cap Responsiveness to Capital Discipline Policies for Us Oil and Gas Producers" (2023). Financial Analyst. 21.
https://scholarsarchive.library.albany.edu/honorscollege_finance/21