The question of the effectiveness of oil refining in Russia: An Econometric Analysis
Abstract
The relations between the financial statements’ figures of the complex of refining companies – the core of Russian refining industry from 2006 to 2013 – were analyzed using component and regression analysis from the standpoint of the effectiveness of their activities during the modernization period. Through the component analysis the main factors that influenced the final financial results of the enterprises during the given period were determined. Regression models of panel data with fixed and random effects were made for 19 enterprises. Regression analysis revealed no statistically significant dependencies of the efficiency (profitability) on the production scale (enterprise revenue). The dynamics of certain types of expenses were analyzed in order to explain the differences in the profitability dynamics. It revealed virtually no difference in the values of the individual effects of enterprises in different areas of specialization (profile).
About the Authors
A. V. SokolovRussian Federation
V. A. Bazhanov
Russian Federation
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Review
For citations:
Sokolov A.V., Bazhanov V.A. The question of the effectiveness of oil refining in Russia: An Econometric Analysis. World of Economics and Management. 2016;16(3):100–112.
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