In recent years, the multifunctionality of farming activities and diversification of on-farm inco... more In recent years, the multifunctionality of farming activities and diversification of on-farm income sources have increasingly included the generation of renewable energy. The uptake of on-farm anaerobic digestion, however, continues to lag behind other renewable energy sources, notably wind and solar. The purpose of this paper is to provide an in-depth analysis of the policy barriers that might explain this relative absence of anaerobic digestion from UK farming. This is doubly important, given that anaerobic digestion is not only a potential source of renewable energy, but also a means of waste management within certain farming systems. The analysis draws on a mixed-methods research project, with data from 153 responses to a questionnaire sent to farmers in Nottinghamshire and Derbyshire in March 2016; 18 in-depth interviews with stakeholders in the anaerobic digestion sector; and a workshop that brought together stakeholders in a round-table discussion. The qualitative data are co...
In addition to conventional taxes, host countries impose "crypto tax" to maximize tax t... more In addition to conventional taxes, host countries impose "crypto tax" to maximize tax take, ensure production efficiency and sustainable development. Multinationals look beyond the glary conventional taxes while deciding investment locations However, a robust and valid index for these "crypto tax" is yet to be constructed Crypto Tax Assessment Index(C-TAI) is constructed and validated through empirical analyses The Index can be utilized by policymakers, oil and gas companies and researchers Abstract In addition to conventional taxes, host oil and gas producing countries impose a "crypto tax", including sustainability-related taxes similar to environmental taxes and social sphere development costs. These taxes aim to maximize government taxes which are collected to ensure operational efficiency and sustainable development. In contrast, multinational oil companies look beyond conventional taxes by performing a thorough assessment of "crypto t...
The International Journal of Knowledge, Culture, and Change Management: Annual Review, 2011
This paper represents an attempt to understand the dynamics of the identity work in the context o... more This paper represents an attempt to understand the dynamics of the identity work in the context of the challenges top managers have to address. Managers' discursive resources influence what they notice and also the interpretation of what is noticed. Their ability to understand and challenge their discursive resources is crucial because the persistence of categories and metaphors that depicts a globalized world where they do not have capacity to react may explain the decline of their organizations. The stories they tell ground their emotions and their identities and then they see the world and themselves through them. Hence, their discursive resources and their emotions impact on the long-term survival of their organizations through the strategic exchange between top managers and organizations. The paper raises queries about the discursive resources that top managers use to define their identities, and how these identities may affect the long-term survival of organizations. The findings from this study add to the theoretical knowledge of the sense-making literature. They have practical consequences for the textile sector in Portugal and how strategic issues are addressed. This is in allowing an understanding of the influence that discursive resources have in managers' identity construction and the effects of their identities on the long-term survival of their organizations. Thus, this paper is expected to benefit managers within the sector since they will have a better understanding of the processes they use to build their identities, how their identities impact in the future of their organizations. These are all important considering the relevance of the sector in the Portuguese economy. Ultimately, the paper may be of benefit to managers from other sectors and academia, given that the findings have broader implications.
The International Journal of Knowledge, Culture, and Change Management: Annual Review, 2010
The literature relating to strategy is full of contradictions. Top managers are expected to be to... more The literature relating to strategy is full of contradictions. Top managers are expected to be tough-minded but flexible, to have tight controls on some areas and loose controls on others, to have an inspiring broad vision along meticulous attention to detail, to have a linear sense of rationality but to thrive on chaos. It is therefore our intention to find out how top managers make sense of these contradictions, how they integrate these contradictions in their experience and their management. This is because top managers live very fragmented lives. Although strategic decision making has long been a topic of great interest in the field of strategic management, most of the studies have not addressed the cognitive dimension of decision making, namely the question of how decision makers actually think. Strategy is a work of fiction and therefore all strategists are authors of fiction and the question is how top managers understand this fiction, their role and how they see themselves in this fiction. This paper will address these and similar questions and will try to find answers to them based on an analytical approach. The study took place in the context of the clothing and textile industries in Portugal and the companies targeted in this study are of medium and large sizes.
With the increase in energy demand and the international drive to reduce carbon emission from fos... more With the increase in energy demand and the international drive to reduce carbon emission from fossil fuel, there has been a drive in many oil-rich countries to diversify their energy portfolio and resources. Libya is currently interested in utilising its renewable energy resources in order to reduce the financial and energy dependency on oil reserves. This paper investigates the current utilisation and the future of renewable energy in Libya. Interviews have been conducted with managers, consultants and decision makers from different government organisations including energy policy makers, energy generation companies and major energy consumers. The results indicate that Libya is rich in renewable energy resources but in urgent need for a more comprehensive energy strategy and detailed implementation including reasonable financial and educational investment in the renewable energy sector.
Starting with evidence that United Kingdom Continental Shelf oil and gas companies have benefitte... more Starting with evidence that United Kingdom Continental Shelf oil and gas companies have benefitted very disproportionately from the recent period of very high oil prices, this paper traces the history of this weakness in the UK's petroleum fiscal regime. Evidence is provided that the progressive relaxations in the UK's petroleum fiscal regime in 1983, 1987-88 and 1993 were: largely unnecessary to stimulate the development of new, smaller, 'marginal' fields; misguided in their assumption that such fields were more costly to develop than earlier counterparts or larger contemporary fields; and impotent compared with the effects of oil price movements. The paper concludes with a conceptualisation which illuminates why these failures of policy were not just random: they emerged from the UK's 'non-proprietorial' stance with respect to the country's oil and gas resources, a stance which assumes responsibility for oil company profitability and vainly tries to counter market forces at the expense of government revenues.
Abstract: Scholars have been interested in energy efficiency/conservation and consumer behaviour ... more Abstract: Scholars have been interested in energy efficiency/conservation and consumer behaviour for over 35 years and research in this domain continues to grow. Energy efficiency and conservation are significant policy tools that can be introduced by governments to help save the environment. The kingdom of Saudi Arabia possesses a wealth of energy resources. The exploitation of these resources has allowed the country to keep domestic energy prices low, through a system of direct and indirect subsides. Saudi Arabia boasts the world’s largest proven oil reserves and is the world’s 200th largest producer and consumer of electricity. However, Saudi Arabia is threatened by unrestrained domestic fuel consumption, which has increased by more than 30 % since 2000. This increased and inefficient consumption is causing environmental pollution and is leaving the country vulnerable to economic and social crises. This research study aims to address this issue in exploring the following question...
After reviewing the literature, we noticed that the vast majority of studies in the field of envi... more After reviewing the literature, we noticed that the vast majority of studies in the field of environmental accounting and disclosure have focused on developed countries such as Western Europe, America and Australia, while neglected developing countries. This study investigates the relationship between the level of environmental disclosure and company’s characteristics. The researchers identified a number of characteristics that associate with companies ’ environmental disclosure, these are: Company’s size, company’s privatization, company’s age and company’s nationality. In the light of empirical results it is noticed that almost 100 % of companies disclose some environmental information and they provide three types of environmental information good, neutral and bad news. In addition a significant positive association found between level of environmental disclosure and company’s size, company’s privatization and company’s nationality. Therefore it provide further evidence which emph...
Abstract: This study seeks to quantify and model the significance of the deepwater oil developmen... more Abstract: This study seeks to quantify and model the significance of the deepwater oil development for domestic US energy supplies in the short-term. It explores the significance and potential contribution deepwater oil supply from the Gulf of Mexico (GoM) can make in providing energy security to the US. The output of this research demonstrates the growth in deepwater oil production and how this latter relates to total US oil production over the next 10 years; and therefore the role it can play in providing energy security to the USA. The literature offers commercial and academic debate on this topic. The research model analyses current available data and make sensible assumptions on the likely future growth of deepwater oil production in the GoM based on a number of scenarios. Our results support the high/best case and suggest that deepwater oil from the GoM can significantly provide energy security to the US on the short term. However, on the long term and in order to maintain its...
Decommissioning costs of oil and gas assets meet the description of asset and provisions under IA... more Decommissioning costs of oil and gas assets meet the description of asset and provisions under IAS 37. Therefore, accounting for, and disclosures of, provisions for decommissioning oil and gas installations are accounted for in accordance with IAS 16 and IAS 37. Hence, these costs are recognized at the point of an asset installation as part of that asset’s historical cost and as a provision in the balance sheet. However, given the long time span between the asset installation point and decommissioning that asset accounting for decommissioning costs is subject to significant complexity and subjective judgments. Due to their sizes decommissioning costs of oil and gas installations have material cash flow effects. Given the magnitude of decommissioning costs, disclosures of provisions are critical for stakeholders to understand the impact on future cash flows. This study investigates compliance with the reporting requirements of international accounting standards (IASs) regarding provi...
This book represents an attempt to understand the dynamics of the identity work in the context of... more This book represents an attempt to understand the dynamics of the identity work in the context of the challenges top managers have to address. Managers' discursive resources influence what they notice and the interpretation of what is noticed. Their ability to understand and challenge their discursive resources is crucial because the persistence of categories and metaphors that depicts a globalized world where they do not have capacity to react may explain the decline of their organizations. The stories they tell ground their emotions and their identities and then they see the world and themselves through them. Hence, their discursive resources and their emotions impact the long term survival of their organizations through the strategic exchange between top managers and organizations.
Oil and Gas reserves are very precious for us and for Oil companies. This study investigates the ... more Oil and Gas reserves are very precious for us and for Oil companies. This study investigates the effects of oil and gas reserves’ disclosures on oil companies’ share prices. The research was carried out with six companies (Tullow, Global Energy, JKX and Bankers Petroleum). Two of the companies are integrated (Bp and Royal Dutch Shell) and the other four are exploration and production companies. The research was conducted using a quantitative approach. The data about the companies was collected from the companies’ annual reports as well as the Osiris and Data Stream databases. The data was analysed by calculating correlation functions between the companies’ market value and the reserves quantities. The analysis was built on the results of the correlation functions. The results of the research were summarised into four groups. This research found that the reserves disclosure does have an effect on the share prices of oil companies and this effect varies from one company to another. On...
Zagreb International Review of Economics and Business, 2014
The UK developed an energy policy which focused on providing for energy security and cutting carb... more The UK developed an energy policy which focused on providing for energy security and cutting carbon emissions. A number of obstacles confronted this policy and slowed down investments in renewable energies. This research aims to investigate the effects of UK energy policy on deriving investments in renewable technologies and reducing carbon emissions, and hence on energy security. The study will try to answer the following question: How successful the UK energy policy has been in promoting investments in renewable energy options and in reducing carbon emissions. To answer the above question and achieve the above stipulated research objectives data was collected by means of content analysis from governmental publications and statistics. Our findings suggest that in order for the UK to achieve its policy objectives it needs to stabilise its energy policy and to reduce uncertainties surrounding investments in renewable energies. JEL Classification: Q4
This paper aims to test the effect of changes in capital structure on the market value of oil and... more This paper aims to test the effect of changes in capital structure on the market value of oil and gas companies. Tests are performed in order to see if changes in capital structure affect market value. These tests are performed on three dimensions: over the long-term (the 10 year period between 1998-2007); the short-term (for one year – 2006); and for announcements of changes in capital structure. The findings of the long-term test show no significant relationship between changes in capital structure and changes in market value. However, the short-term and announcement tests show a generally positive relationship between changes in capital structure and changes in a company’s market value. This paper is one of the few to combine long-term and short-term tests to study the effect of changes in capital structure on oil companies` market value. Indeed, it is one of only a handful of papers which examine the capital structure of oil companies.
This study investigates the options available to the energy sector in Libyan, particularly in rel... more This study investigates the options available to the energy sector in Libyan, particularly in relation to the potential of using renewable energy as one of the main sources for the country. Libyan government has set a target for renewable energy resources sharing with current energy sources to reach 30% by the year 2030 which mainly includes wind energy, Concentrating Solar Power (CSP), Photovoltaic (PV) and Solar Water Heating (SWH). The argument here is not whether this can be completed or not within the stipulated time. But the main objective is achieving a sustainable economic growth through a clean energy system and for the energy supply to maintain meeting the growing energy demand. The aim of this paper is to illustrate the current energy supply and future demands in Libya. This paper integrates data from literature review, field visits and interviews with Libyan energy experts to paint a comprehensive picture in relation to energy demand and consumption. The findings which h...
In recent years, the multifunctionality of farming activities and diversification of on-farm inco... more In recent years, the multifunctionality of farming activities and diversification of on-farm income sources have increasingly included the generation of renewable energy. The uptake of on-farm anaerobic digestion, however, continues to lag behind other renewable energy sources, notably wind and solar. The purpose of this paper is to provide an in-depth analysis of the policy barriers that might explain this relative absence of anaerobic digestion from UK farming. This is doubly important, given that anaerobic digestion is not only a potential source of renewable energy, but also a means of waste management within certain farming systems. The analysis draws on a mixed-methods research project, with data from 153 responses to a questionnaire sent to farmers in Nottinghamshire and Derbyshire in March 2016; 18 in-depth interviews with stakeholders in the anaerobic digestion sector; and a workshop that brought together stakeholders in a round-table discussion. The qualitative data are co...
In addition to conventional taxes, host countries impose "crypto tax" to maximize tax t... more In addition to conventional taxes, host countries impose "crypto tax" to maximize tax take, ensure production efficiency and sustainable development. Multinationals look beyond the glary conventional taxes while deciding investment locations However, a robust and valid index for these "crypto tax" is yet to be constructed Crypto Tax Assessment Index(C-TAI) is constructed and validated through empirical analyses The Index can be utilized by policymakers, oil and gas companies and researchers Abstract In addition to conventional taxes, host oil and gas producing countries impose a "crypto tax", including sustainability-related taxes similar to environmental taxes and social sphere development costs. These taxes aim to maximize government taxes which are collected to ensure operational efficiency and sustainable development. In contrast, multinational oil companies look beyond conventional taxes by performing a thorough assessment of "crypto t...
The International Journal of Knowledge, Culture, and Change Management: Annual Review, 2011
This paper represents an attempt to understand the dynamics of the identity work in the context o... more This paper represents an attempt to understand the dynamics of the identity work in the context of the challenges top managers have to address. Managers' discursive resources influence what they notice and also the interpretation of what is noticed. Their ability to understand and challenge their discursive resources is crucial because the persistence of categories and metaphors that depicts a globalized world where they do not have capacity to react may explain the decline of their organizations. The stories they tell ground their emotions and their identities and then they see the world and themselves through them. Hence, their discursive resources and their emotions impact on the long-term survival of their organizations through the strategic exchange between top managers and organizations. The paper raises queries about the discursive resources that top managers use to define their identities, and how these identities may affect the long-term survival of organizations. The findings from this study add to the theoretical knowledge of the sense-making literature. They have practical consequences for the textile sector in Portugal and how strategic issues are addressed. This is in allowing an understanding of the influence that discursive resources have in managers' identity construction and the effects of their identities on the long-term survival of their organizations. Thus, this paper is expected to benefit managers within the sector since they will have a better understanding of the processes they use to build their identities, how their identities impact in the future of their organizations. These are all important considering the relevance of the sector in the Portuguese economy. Ultimately, the paper may be of benefit to managers from other sectors and academia, given that the findings have broader implications.
The International Journal of Knowledge, Culture, and Change Management: Annual Review, 2010
The literature relating to strategy is full of contradictions. Top managers are expected to be to... more The literature relating to strategy is full of contradictions. Top managers are expected to be tough-minded but flexible, to have tight controls on some areas and loose controls on others, to have an inspiring broad vision along meticulous attention to detail, to have a linear sense of rationality but to thrive on chaos. It is therefore our intention to find out how top managers make sense of these contradictions, how they integrate these contradictions in their experience and their management. This is because top managers live very fragmented lives. Although strategic decision making has long been a topic of great interest in the field of strategic management, most of the studies have not addressed the cognitive dimension of decision making, namely the question of how decision makers actually think. Strategy is a work of fiction and therefore all strategists are authors of fiction and the question is how top managers understand this fiction, their role and how they see themselves in this fiction. This paper will address these and similar questions and will try to find answers to them based on an analytical approach. The study took place in the context of the clothing and textile industries in Portugal and the companies targeted in this study are of medium and large sizes.
With the increase in energy demand and the international drive to reduce carbon emission from fos... more With the increase in energy demand and the international drive to reduce carbon emission from fossil fuel, there has been a drive in many oil-rich countries to diversify their energy portfolio and resources. Libya is currently interested in utilising its renewable energy resources in order to reduce the financial and energy dependency on oil reserves. This paper investigates the current utilisation and the future of renewable energy in Libya. Interviews have been conducted with managers, consultants and decision makers from different government organisations including energy policy makers, energy generation companies and major energy consumers. The results indicate that Libya is rich in renewable energy resources but in urgent need for a more comprehensive energy strategy and detailed implementation including reasonable financial and educational investment in the renewable energy sector.
Starting with evidence that United Kingdom Continental Shelf oil and gas companies have benefitte... more Starting with evidence that United Kingdom Continental Shelf oil and gas companies have benefitted very disproportionately from the recent period of very high oil prices, this paper traces the history of this weakness in the UK's petroleum fiscal regime. Evidence is provided that the progressive relaxations in the UK's petroleum fiscal regime in 1983, 1987-88 and 1993 were: largely unnecessary to stimulate the development of new, smaller, 'marginal' fields; misguided in their assumption that such fields were more costly to develop than earlier counterparts or larger contemporary fields; and impotent compared with the effects of oil price movements. The paper concludes with a conceptualisation which illuminates why these failures of policy were not just random: they emerged from the UK's 'non-proprietorial' stance with respect to the country's oil and gas resources, a stance which assumes responsibility for oil company profitability and vainly tries to counter market forces at the expense of government revenues.
Abstract: Scholars have been interested in energy efficiency/conservation and consumer behaviour ... more Abstract: Scholars have been interested in energy efficiency/conservation and consumer behaviour for over 35 years and research in this domain continues to grow. Energy efficiency and conservation are significant policy tools that can be introduced by governments to help save the environment. The kingdom of Saudi Arabia possesses a wealth of energy resources. The exploitation of these resources has allowed the country to keep domestic energy prices low, through a system of direct and indirect subsides. Saudi Arabia boasts the world’s largest proven oil reserves and is the world’s 200th largest producer and consumer of electricity. However, Saudi Arabia is threatened by unrestrained domestic fuel consumption, which has increased by more than 30 % since 2000. This increased and inefficient consumption is causing environmental pollution and is leaving the country vulnerable to economic and social crises. This research study aims to address this issue in exploring the following question...
After reviewing the literature, we noticed that the vast majority of studies in the field of envi... more After reviewing the literature, we noticed that the vast majority of studies in the field of environmental accounting and disclosure have focused on developed countries such as Western Europe, America and Australia, while neglected developing countries. This study investigates the relationship between the level of environmental disclosure and company’s characteristics. The researchers identified a number of characteristics that associate with companies ’ environmental disclosure, these are: Company’s size, company’s privatization, company’s age and company’s nationality. In the light of empirical results it is noticed that almost 100 % of companies disclose some environmental information and they provide three types of environmental information good, neutral and bad news. In addition a significant positive association found between level of environmental disclosure and company’s size, company’s privatization and company’s nationality. Therefore it provide further evidence which emph...
Abstract: This study seeks to quantify and model the significance of the deepwater oil developmen... more Abstract: This study seeks to quantify and model the significance of the deepwater oil development for domestic US energy supplies in the short-term. It explores the significance and potential contribution deepwater oil supply from the Gulf of Mexico (GoM) can make in providing energy security to the US. The output of this research demonstrates the growth in deepwater oil production and how this latter relates to total US oil production over the next 10 years; and therefore the role it can play in providing energy security to the USA. The literature offers commercial and academic debate on this topic. The research model analyses current available data and make sensible assumptions on the likely future growth of deepwater oil production in the GoM based on a number of scenarios. Our results support the high/best case and suggest that deepwater oil from the GoM can significantly provide energy security to the US on the short term. However, on the long term and in order to maintain its...
Decommissioning costs of oil and gas assets meet the description of asset and provisions under IA... more Decommissioning costs of oil and gas assets meet the description of asset and provisions under IAS 37. Therefore, accounting for, and disclosures of, provisions for decommissioning oil and gas installations are accounted for in accordance with IAS 16 and IAS 37. Hence, these costs are recognized at the point of an asset installation as part of that asset’s historical cost and as a provision in the balance sheet. However, given the long time span between the asset installation point and decommissioning that asset accounting for decommissioning costs is subject to significant complexity and subjective judgments. Due to their sizes decommissioning costs of oil and gas installations have material cash flow effects. Given the magnitude of decommissioning costs, disclosures of provisions are critical for stakeholders to understand the impact on future cash flows. This study investigates compliance with the reporting requirements of international accounting standards (IASs) regarding provi...
This book represents an attempt to understand the dynamics of the identity work in the context of... more This book represents an attempt to understand the dynamics of the identity work in the context of the challenges top managers have to address. Managers' discursive resources influence what they notice and the interpretation of what is noticed. Their ability to understand and challenge their discursive resources is crucial because the persistence of categories and metaphors that depicts a globalized world where they do not have capacity to react may explain the decline of their organizations. The stories they tell ground their emotions and their identities and then they see the world and themselves through them. Hence, their discursive resources and their emotions impact the long term survival of their organizations through the strategic exchange between top managers and organizations.
Oil and Gas reserves are very precious for us and for Oil companies. This study investigates the ... more Oil and Gas reserves are very precious for us and for Oil companies. This study investigates the effects of oil and gas reserves’ disclosures on oil companies’ share prices. The research was carried out with six companies (Tullow, Global Energy, JKX and Bankers Petroleum). Two of the companies are integrated (Bp and Royal Dutch Shell) and the other four are exploration and production companies. The research was conducted using a quantitative approach. The data about the companies was collected from the companies’ annual reports as well as the Osiris and Data Stream databases. The data was analysed by calculating correlation functions between the companies’ market value and the reserves quantities. The analysis was built on the results of the correlation functions. The results of the research were summarised into four groups. This research found that the reserves disclosure does have an effect on the share prices of oil companies and this effect varies from one company to another. On...
Zagreb International Review of Economics and Business, 2014
The UK developed an energy policy which focused on providing for energy security and cutting carb... more The UK developed an energy policy which focused on providing for energy security and cutting carbon emissions. A number of obstacles confronted this policy and slowed down investments in renewable energies. This research aims to investigate the effects of UK energy policy on deriving investments in renewable technologies and reducing carbon emissions, and hence on energy security. The study will try to answer the following question: How successful the UK energy policy has been in promoting investments in renewable energy options and in reducing carbon emissions. To answer the above question and achieve the above stipulated research objectives data was collected by means of content analysis from governmental publications and statistics. Our findings suggest that in order for the UK to achieve its policy objectives it needs to stabilise its energy policy and to reduce uncertainties surrounding investments in renewable energies. JEL Classification: Q4
This paper aims to test the effect of changes in capital structure on the market value of oil and... more This paper aims to test the effect of changes in capital structure on the market value of oil and gas companies. Tests are performed in order to see if changes in capital structure affect market value. These tests are performed on three dimensions: over the long-term (the 10 year period between 1998-2007); the short-term (for one year – 2006); and for announcements of changes in capital structure. The findings of the long-term test show no significant relationship between changes in capital structure and changes in market value. However, the short-term and announcement tests show a generally positive relationship between changes in capital structure and changes in a company’s market value. This paper is one of the few to combine long-term and short-term tests to study the effect of changes in capital structure on oil companies` market value. Indeed, it is one of only a handful of papers which examine the capital structure of oil companies.
This study investigates the options available to the energy sector in Libyan, particularly in rel... more This study investigates the options available to the energy sector in Libyan, particularly in relation to the potential of using renewable energy as one of the main sources for the country. Libyan government has set a target for renewable energy resources sharing with current energy sources to reach 30% by the year 2030 which mainly includes wind energy, Concentrating Solar Power (CSP), Photovoltaic (PV) and Solar Water Heating (SWH). The argument here is not whether this can be completed or not within the stipulated time. But the main objective is achieving a sustainable economic growth through a clean energy system and for the energy supply to maintain meeting the growing energy demand. The aim of this paper is to illustrate the current energy supply and future demands in Libya. This paper integrates data from literature review, field visits and interviews with Libyan energy experts to paint a comprehensive picture in relation to energy demand and consumption. The findings which h...
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Papers by Hafez Abdo