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The importance of managerial ability on crude oil price uncertainty-firm performance relationship

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  • Phan, Dinh Hoang Bach
  • Tran, Vuong Thao
  • Nguyen, Dat Thanh
  • Le, Anh

Abstract

This paper investigates the effect of crude oil price uncertainty on firm performance and how the managerial ability impacts on this relationship. Using a large sample of 13,610 U.S firms from 1983 to 2016, we reveal two main findings. Consistent with our hypothesis, we find strong evidence for a negative effect of crude oil price uncertainty on firm performance at both aggregate market and sectoral levels. However, managerial ability helps firms dampen a significant proportion (approximately 20%–50%) of the negative effect. These findings are consistent in several robustness tests.

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  • Phan, Dinh Hoang Bach & Tran, Vuong Thao & Nguyen, Dat Thanh & Le, Anh, 2020. "The importance of managerial ability on crude oil price uncertainty-firm performance relationship," Energy Economics, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:eneeco:v:88:y:2020:i:c:s0140988320301183
    DOI: 10.1016/j.eneco.2020.104778
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