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Examining the Relationship Between Brand Value, Energy Production and Economic Growth

Author

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  • Bahman Huseynli

    (Azerbaijan State University of Economics (UNEC), Azerbaijan.)

Abstract

The aim of this study is to determine the relationship between the energy production of the USA between 2010-2019 and the brand value of an energy company (oil and gas) selected from this country and the economic growth of the country. Multiple Linear Regression Model was used to measure whether there is a significant relationship between these variables or the effect of the relationship. Data for analysis were obtained annually from the World Bank, EIA and Brand Finance. During the study phase, Variance inflation factors for the independent variables (VIF) test, Breusch-Pegan/Cook Weisberg test, Breusch-Godfrey LM test and Shapiro-Wilk W test were applied. In the study, energy production and brand value of an energy company were used as independent variables, and economic growth was used as dependent variables. As a result of the latest regression analysis, it has been determined that there is a positive linear relationship between the dependent and independent variables of the country. In the study, it was concluded that the increase in energy production in the USA and the increase in the brand value of the relevant energy company positively affected the economic growth of this country.

Suggested Citation

  • Bahman Huseynli, 2022. "Examining the Relationship Between Brand Value, Energy Production and Economic Growth," International Journal of Energy Economics and Policy, Econjournals, vol. 12(3), pages 298-304, May.
    • Handle: RePEc:eco:journ2:2022-03-32
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    References listed on IDEAS

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    1. repec:agr:journl:v:4(593):y:2014:i:4(593):p:53-66 is not listed on IDEAS
    2. Constantin ANGHELACHE & Mădălina Gabriela ANGHEL, 2014. "Using the regression model for the portfolios analysis and management," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(593)), pages 53-66, April.
    3. Carpenter, Jason M., 2008. "Consumer shopping value, satisfaction and loyalty in discount retailing," Journal of Retailing and Consumer Services, Elsevier, vol. 15(5), pages 358-363.
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    Cited by:

    1. Nigar Huseynli, 2022. "Impact of Revenues from Oil and Non-Oil Sectors on the Economic Growth of Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(5), pages 31-35, September.
    2. Teymur Sarkhanov & Nigar Huseynli, 2022. "Econometric Analysis of Renewable Energy Consumption and Economic Growth: The Case of Kazakhstan and Kyrgyzstan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(6), pages 163-167, November.

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    More about this item

    Keywords

    Brand value; Energy production; Economic growth; GDP; USA;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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