IDEAS home Printed from https://ideas.repec.org/a/eee/rensus/v196y2024ics136403212400073x.html
   My bibliography  Save this article

A sustainable development benchmarking framework for energy companies based on topic mining and knowledge graph: The case of oil and gas industry

Author

Listed:
  • Xu, Xiaofeng
  • Liu, Zhiting
  • Liu, Wenzhi
  • Pei, Chuantao
  • Wu, Xiangfan
  • Nie, Zhengya

Abstract

Benchmarking is one of the key management approaches to support companies to continuously improve and gain competitive advantage. However, previous benchmarking management suffered from subjectivity and one-sidedness, and the benchmarking evaluation was only to identify the benchmark and its own deficiencies, with a high degree of independence between the sub-processes. The framework is the first to jointly apply topic mining and relation extraction techniques to establish an objective index system and mine the mechanistic relations among the indexes, and finally provides a concise and interactive display of the results based on knowledge graph visualization. In this study, 50 oil and gas companies are taken as examples to carry out the case study of sustainable development benchmarking management, and a sustainable development program with strong logic and systematicity is proposed at both macro and micro levels. This study results verify that the framework can effectively improve the scientific, comprehensive and systematic nature of sustainable development benchmarking management. At the same time, the framework extends the role of the index system so that it can provide the necessary mechanistic guidance for subsequent sustainable development programmatic to achieve programmatic with a high degree of synergy. In addition, the framework has a high degree of coherence with the United Nations Sustainable Development Goals (SDGs), and the proposals put forward can not only be used to improve the sustainable development capability of companies themselves, but also contribute to the realization of the SDGs.

Suggested Citation

  • Xu, Xiaofeng & Liu, Zhiting & Liu, Wenzhi & Pei, Chuantao & Wu, Xiangfan & Nie, Zhengya, 2024. "A sustainable development benchmarking framework for energy companies based on topic mining and knowledge graph: The case of oil and gas industry," Renewable and Sustainable Energy Reviews, Elsevier, vol. 196(C).
    • Handle: RePEc:eee:rensus:v:196:y:2024:i:c:s136403212400073x
    DOI: 10.1016/j.rser.2024.114350
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S136403212400073X
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.rser.2024.114350?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Daniel D. Lee & H. Sebastian Seung, 1999. "Learning the parts of objects by non-negative matrix factorization," Nature, Nature, vol. 401(6755), pages 788-791, October.
    2. Kruyt, Bert & van Vuuren, D.P. & de Vries, H.J.M. & Groenenberg, H., 2009. "Indicators for energy security," Energy Policy, Elsevier, vol. 37(6), pages 2166-2181, June.
    3. Farhad Taghizadeh-Hesary & Naoyuki Yoshino, 2020. "Sustainable Solutions for Green Financing and Investment in Renewable Energy Projects," Energies, MDPI, vol. 13(4), pages 1-18, February.
    4. Ness, Barry & Urbel-Piirsalu, Evelin & Anderberg, Stefan & Olsson, Lennart, 2007. "Categorising tools for sustainability assessment," Ecological Economics, Elsevier, vol. 60(3), pages 498-508, January.
    5. Chiara Mio & Antonio Costantini & Silvia Panfilo, 2022. "Performance measurement tools for sustainable business: A systematic literature review on the sustainability balanced scorecard use," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(2), pages 367-384, March.
    6. Hal R. Varian, 2014. "Big Data: New Tricks for Econometrics," Journal of Economic Perspectives, American Economic Association, vol. 28(2), pages 3-28, Spring.
    7. Fadime Aksoy & Nuran Bayram Arlı, 2020. "Evaluation of sustainable happiness with Sustainable Development Goals: Structural equation model approach," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(1), pages 385-392, January.
    8. Liu, Dandan & Wang, Delu, 2022. "Evaluation of the synergy degree of industrial de-capacity policies based on text mining: A case study of China's coal industry," Resources Policy, Elsevier, vol. 76(C).
    9. Emmanuel Stamatakis & Ewald Perwög & Ermis Garyfallos & Mercedes Sanz Millán & Emmanuel Zoulias & Nikolaos Chalkiadakis, 2022. "Hydrogen in Grid Balancing: The European Market Potential for Pressurized Alkaline Electrolyzers," Energies, MDPI, vol. 15(2), pages 1-50, January.
    10. Aldona Standar & Agnieszka Kozera & Dawid Jabkowski, 2022. "The Role of Large Cities in the Development of Low-Carbon Economy—The Example of Poland," Energies, MDPI, vol. 15(2), pages 1-17, January.
    11. Tim Loughran & Bill Mcdonald, 2016. "Textual Analysis in Accounting and Finance: A Survey," Journal of Accounting Research, Wiley Blackwell, vol. 54(4), pages 1187-1230, September.
    12. van der Laan Smith, Joyce & Adhikari, Ajay & Tondkar, Rasoul H., 2005. "Exploring differences in social disclosures internationally: A stakeholder perspective," Journal of Accounting and Public Policy, Elsevier, vol. 24(2), pages 123-151.
    13. Xu, Xiaofeng & Wei, Zhifei & Ji, Qiang & Wang, Chenglong & Gao, Guowei, 2019. "Global renewable energy development: Influencing factors, trend predictions and countermeasures," Resources Policy, Elsevier, vol. 63(C), pages 1-1.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wen-Hsiang Chiu & Wen-Cheng Lin & Chun-Nan Chen & Nien-Ping Chen, 2021. "Using an Analytical Hierarchy Process to Analyze the Development of the Green Energy Industry," Energies, MDPI, vol. 14(15), pages 1-15, July.
    2. Agarwal, Sumit & Wang, Long & Yang, Yang, 2021. "Impact of transboundary air pollution on service quality and consumer satisfaction," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 357-380.
    3. Herie Park & Sungwoo Bae, 2021. "Quantitative Assessment of Energy Supply Security: Korea Case Study," Sustainability, MDPI, vol. 13(4), pages 1-15, February.
    4. Anna Misztal & Magdalena Kowalska & Anita Fajczak-Kowalska, 2022. "The Impact of Economic Factors on the Sustainable Development of Energy Enterprises: The Case of Bulgaria, Czechia, Estonia and Poland," Energies, MDPI, vol. 15(18), pages 1-19, September.
    5. Miao Liu, 2022. "Assessing Human Information Processing in Lending Decisions: A Machine Learning Approach," Journal of Accounting Research, Wiley Blackwell, vol. 60(2), pages 607-651, May.
    6. Andres Algaba & David Ardia & Keven Bluteau & Samuel Borms & Kris Boudt, 2020. "Econometrics Meets Sentiment: An Overview Of Methodology And Applications," Journal of Economic Surveys, Wiley Blackwell, vol. 34(3), pages 512-547, July.
    7. Hoang, Daniel & Wiegratz, Kevin, 2022. "Machine learning methods in finance: Recent applications and prospects," Working Paper Series in Economics 158, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    8. Nicolas Pröllochs & Stefan Feuerriegel & Dirk Neumann, 2018. "Statistical inferences for polarity identification in natural language," PLOS ONE, Public Library of Science, vol. 13(12), pages 1-21, December.
    9. Karsten Müller, 2022. "German forecasters’ narratives: How informative are German business cycle forecast reports?," Empirical Economics, Springer, vol. 62(5), pages 2373-2415, May.
    10. Rafael Teixeira & Mário Antunes & Diogo Gomes & Rui L. Aguiar, 2024. "Comparison of Semantic Similarity Models on Constrained Scenarios," Information Systems Frontiers, Springer, vol. 26(4), pages 1307-1330, August.
    11. Miklesh Yadav & Nandita Mishra & Shruti Ashok, 2023. "Dynamic connectedness of green bond with financial markets of European countries under OECD economies," Economic Change and Restructuring, Springer, vol. 56(1), pages 609-631, February.
    12. Sophie-Charlotte Klose & Johannes Lederer, 2020. "A Pipeline for Variable Selection and False Discovery Rate Control With an Application in Labor Economics," Papers 2006.12296, arXiv.org, revised Jun 2020.
    13. Elena Vechkinzova & Yelena Petrenko & Yana S. Matkovskaya & Gaukhar Koshebayeva, 2021. "The Dilemma of Long-Term Development of the Electric Power Industry in Kazakhstan," Energies, MDPI, vol. 14(9), pages 1-21, April.
    14. Del Corso, Gianna M. & Romani, Francesco, 2019. "Adaptive nonnegative matrix factorization and measure comparisons for recommender systems," Applied Mathematics and Computation, Elsevier, vol. 354(C), pages 164-179.
    15. Martínez-Ferrero, Jennifer & García-Sánchez, Isabel-María, 2017. "Coercive, normative and mimetic isomorphism as determinants of the voluntary assurance of sustainability reports," International Business Review, Elsevier, vol. 26(1), pages 102-118.
    16. Gupta, Kuhika & Nowlin, Matthew C. & Ripberger, Joseph T. & Jenkins-Smith, Hank C. & Silva, Carol L., 2019. "Tracking the nuclear ‘mood’ in the United States: Introducing a long term measure of public opinion about nuclear energy using aggregate survey data," Energy Policy, Elsevier, vol. 133(C).
    17. P Fogel & C Geissler & P Cotte & G Luta, 2022. "Applying separative non-negative matrix factorization to extra-financial data," Working Papers hal-03689774, HAL.
    18. Xiao-Bai Li & Jialun Qin, 2017. "Anonymizing and Sharing Medical Text Records," Information Systems Research, INFORMS, vol. 28(2), pages 332-352, June.
    19. Rubio Rodríguez, M.A. & Ruyck, J. De & Díaz, P. Roque & Verma, V.K. & Bram, S., 2011. "An LCA based indicator for evaluation of alternative energy routes," Applied Energy, Elsevier, vol. 88(3), pages 630-635, March.
    20. Patrick Bajari & Victor Chernozhukov & Ali Hortaçsu & Junichi Suzuki, 2019. "The Impact of Big Data on Firm Performance: An Empirical Investigation," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 33-37, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:rensus:v:196:y:2024:i:c:s136403212400073x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.