Template-Type: ReDIF-Article 1.0
Author-Name:  Kenneth Edwards
Author-Name:  John D. Jackson 
Author-Name:  Henry L. Thompson
Title:  A Note on Vertical Integration and Stock Ratings of Oil Companies in the U.S.
Classification-JEL: F0
Pages:  145-151
Volume:  Volume21
Issue:  Number 2
Year:  2000
Abstract:  This note examines some evidence for a link between profitability of oil companies and operational vertical integration into pipelines and crude oil. All empirical specification is estimated using ordered probit. Levels of integration into pipeline and crude that maximize stock ratings are derived using recent oil company data. Integration into pipelines has a weak positive effect on the stock ratings of oil companies, and integration into crude oil has a stronger positive?
effect.
Handle: RePEc:aen:journl:2000v21-02-a07
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1342
File-Format: text/html
File-Restriction: Access to full text is restricted to IAEE members and subscribers.