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Do adjustment in marginal fields fiscal regime changed investors’ CAPEX performance trend? Evidence from Malaysia


Mas'ud, Abdulsalam and Abdul Manaf, Nor Aziah and Saad, Natrah (2016) Do adjustment in marginal fields fiscal regime changed investors’ CAPEX performance trend? Evidence from Malaysia. Energy Education Science and Technology Part B: Social and Educational Studies, 8 (2). pp. 95-106. ISSN 1308-772X

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Abstract

Fiscal regime adjustment has been documented to have important implication to upstream oil and gas investment.In this paper we examined whether or not investors' capital expenditure (CAPEX) performance trend significantly changed after 2010 Malaysian marginal fields' fiscal regime adjustment. Data of the study relating to: (1) purchase of property, plant and equipment, (2) tangible drilling costs incurred, (3) intangible drilling costs incurred, and (4) purchase of oil and gas properties were extracted from the companies' annual reports. After controlling for inflation, the results revealed significant change of investors' individual CAPEX performance trend as well as marginal oil field subsector CAPEX performance trend after 2010 Malaysian marginal oil fields' fiscal regime adjustment.

Item Type: Article
Uncontrolled Keywords: CAPEX; Fiscal regime; Marginal fields; Trend analysis
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Prof. Madya Dr. Nor Aziah Abd Manaf
Date Deposited: 16 Nov 2016 02:10
Last Modified: 16 Nov 2016 02:10
URI: http://repo.uum.edu.my/id/eprint/19701

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