{"id":"https://openalex.org/W1950631885","doi":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","title":"Evaluating Natural Resource Investments under Different Model Dynamics: Managerial Insights","display_name":"Evaluating Natural Resource Investments under Different Model Dynamics: Managerial Insights","publication_year":2010,"publication_date":"2010-02-19","ids":{"openalex":"https://openalex.org/W1950631885","doi":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","mag":"1950631885"},"language":"en","primary_location":{"id":"doi:10.1111/j.1468-036x.2010.00544.x","doi":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009993491","display_name":"Andrianos \u0395. Tsekrekos","orcid":"https://orcid.org/0000-0002-9927-9907","observed_orcids":["https://orcid.org/0000-0002-9927-9907"]},"institutions":[{"id":"https://openalex.org/I73142707","display_name":"Athens University of Economics and Business","ror":"https://ror.org/03s262162","country_code":"GR","type":"education","lineage":["https://openalex.org/I73142707"]}],"countries":["GR"],"is_corresponding":true,"raw_author_name":"Andrianos E. Tsekrekos","raw_affiliation_strings":["Department of Accounting & Finance, Athens University of Economics & Business (AUEB), 76 Patision Str., 104 34, Athens, GreeceE-mail: [email protected]"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting & Finance, Athens University of Economics & Business (AUEB), 76 Patision Str., 104 34, Athens, GreeceE-mail: [email protected]","institution_ids":["https://openalex.org/I73142707"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5001765357","display_name":"Mark B. Shackleton","orcid":"https://orcid.org/0000-0002-3942-6194","observed_orcids":["https://orcid.org/0000-0002-3942-6194"]},"institutions":[{"id":"https://openalex.org/I67415387","display_name":"Lancaster University","ror":"https://ror.org/04f2nsd36","country_code":"GB","type":"education","lineage":["https://openalex.org/I67415387"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Mark B. Shackleton","raw_affiliation_strings":["Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected] ; [email protected]","Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected]","[email protected]"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected] ; [email protected]","institution_ids":["https://openalex.org/I67415387"]},{"raw_affiliation_string":"Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected]","institution_ids":["https://openalex.org/I67415387"]},{"raw_affiliation_string":"[email protected]","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5082850760","display_name":"Rafa\u0142 M. Wojakowski","orcid":"https://orcid.org/0000-0002-5210-7630","observed_orcids":["https://orcid.org/0000-0002-5210-7630"]},"institutions":[{"id":"https://openalex.org/I67415387","display_name":"Lancaster University","ror":"https://ror.org/04f2nsd36","country_code":"GB","type":"education","lineage":["https://openalex.org/I67415387"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Rafa\u0142 Wojakowski","raw_affiliation_strings":["Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected] ; [email protected]","Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected]","[email protected]"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected] ; [email protected]","institution_ids":["https://openalex.org/I67415387"]},{"raw_affiliation_string":"Department of Accounting & Finance, Management School, Lancaster University, Lancaster, LA1 4YX, UKE-mail: [email protected]","institution_ids":["https://openalex.org/I67415387"]},{"raw_affiliation_string":"[email protected]","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5001765357","https://openalex.org/A5009993491","https://openalex.org/A5082850760"],"corresponding_institution_ids":["https://openalex.org/I67415387","https://openalex.org/I73142707"],"apc_list":{"value":3350,"currency":"USD","value_usd":3350},"apc_paid":null,"fwci":0.9885,"has_fulltext":false,"cited_by_count":17,"citation_normalized_percentile":{"value":0.84559563,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"18","issue":"4","first_page":"543","last_page":"575"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9824000000953674,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9824000000953674,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.007899999618530273,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.002899999963119626,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/natural-resource-investment","display_name":"natural resource investment","score":0.7360000014305115},{"id":"https://openalex.org/keywords/commodity-price-dynamics","display_name":"commodity price dynamics","score":0.7710000276565552},{"id":"https://openalex.org/keywords/convenience-yield","display_name":"convenience yield","score":0.9559999704360962},{"id":"https://openalex.org/keywords/capital-budgeting","display_name":"capital budgeting","score":0.8410000205039978},{"id":"https://openalex.org/keywords/investment-valuation","display_name":"investment valuation","score":0.777999997138977},{"id":"https://openalex.org/keywords/oil","display_name":"oil","score":0.5659999847412109},{"id":"https://openalex.org/keywords/copper","display_name":"copper","score":0.9890000224113464},{"id":"https://openalex.org/keywords/resource-volatility","display_name":"resource volatility","score":0.35199999809265137}],"concepts":[{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.6959012150764465},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6939563751220703},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.6558030843734741},{"id":"https://openalex.org/C2779439359","wikidata":"https://www.wikidata.org/wiki/Q317088","display_name":"Commodity","level":2,"score":0.5706989169120789},{"id":"https://openalex.org/C141100683","wikidata":"https://www.wikidata.org/wiki/Q748644","display_name":"Convenience yield","level":4,"score":0.5464058518409729},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5174037218093872},{"id":"https://openalex.org/C29985473","wikidata":"https://www.wikidata.org/wiki/Q188460","display_name":"Natural resource","level":2,"score":0.4934605658054352},{"id":"https://openalex.org/C134121241","wikidata":"https://www.wikidata.org/wiki/Q899301","display_name":"Yield (engineering)","level":2,"score":0.4511989951133728},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.4265432059764862},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.3506298065185547},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.34697335958480835},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.33003097772598267},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.31710052490234375},{"id":"https://openalex.org/C175223733","wikidata":"https://www.wikidata.org/wiki/Q1047888","display_name":"Spot contract","level":3,"score":0.10983818769454956},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.08618178963661194},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.07910555601119995},{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C192562407","wikidata":"https://www.wikidata.org/wiki/Q228736","display_name":"Materials science","level":0,"score":0.0},{"id":"https://openalex.org/C191897082","wikidata":"https://www.wikidata.org/wiki/Q11467","display_name":"Metallurgy","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1111/j.1468-036x.2010.00544.x","doi":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1468-036x.2010.00544.x","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},{"id":"pmh:oai:alma.44SUR_INST:11140178450002346","doi":null,"is_oa":false,"landing_page_url":"https://openresearch.surrey.ac.uk/esploro/outputs/journalArticle/Evaluating-Natural-Resource-Investments-Under-Different/99516734902346","pdf_url":null,"source":{"id":"https://openalex.org/S4210197018","display_name":"Open Research (University of Surrey)","issn_l":"2688-268X","issn":["2688-268X","2688-3988"],"is_oa":false,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","dongbi-c","poland-20","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"text"},{"id":"pmh:oai:eprints.lancs.ac.uk:45684","doi":null,"is_oa":false,"landing_page_url":"https://eprints.lancs.ac.uk/id/eprint/45684/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401916","display_name":"Lancaster EPrints (Lancaster University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I67415387","host_organization_name":"Lancaster University","host_organization_lineage":["https://openalex.org/I67415387"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"},{"id":"pmh:oai:epubs.surrey.ac.uk:818638","doi":null,"is_oa":false,"landing_page_url":"http://epubs.surrey.ac.uk/818638/","pdf_url":null,"source":{"id":"https://openalex.org/S4306400680","display_name":"Surrey Research Insight Open Access (The University of Surrey)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I28290843","host_organization_name":"University of Surrey","host_organization_lineage":["https://openalex.org/I28290843"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":37,"referenced_works":["https://openalex.org/W97419718","https://openalex.org/W1503295912","https://openalex.org/W1542118577","https://openalex.org/W1563483395","https://openalex.org/W1577377413","https://openalex.org/W1602773783","https://openalex.org/W1965612527","https://openalex.org/W1968940936","https://openalex.org/W1972172802","https://openalex.org/W1982039177","https://openalex.org/W1999126580","https://openalex.org/W2016932900","https://openalex.org/W2020207464","https://openalex.org/W2023439666","https://openalex.org/W2028861383","https://openalex.org/W2044613220","https://openalex.org/W2072274284","https://openalex.org/W2076057077","https://openalex.org/W2077791698","https://openalex.org/W2082813923","https://openalex.org/W2089240053","https://openalex.org/W2101723221","https://openalex.org/W2126258480","https://openalex.org/W2126311658","https://openalex.org/W2141186877","https://openalex.org/W2145224101","https://openalex.org/W2150181906","https://openalex.org/W2159928766","https://openalex.org/W2161387316","https://openalex.org/W2170347140","https://openalex.org/W2182379505","https://openalex.org/W2201043147","https://openalex.org/W2499558369","https://openalex.org/W2584798035","https://openalex.org/W3016843226","https://openalex.org/W3125826253","https://openalex.org/W6724034767"],"related_works":["https://openalex.org/W7097362823","https://openalex.org/W3200319811","https://openalex.org/W621480409","https://openalex.org/W1990739078","https://openalex.org/W6997591443","https://openalex.org/W142169274","https://openalex.org/W2052925409","https://openalex.org/W2182330284","https://openalex.org/W2262569845","https://openalex.org/W3046603717"],"abstract_inverted_index":{"Abstract":[0],"We":[1,12],"focus":[2],"on":[3,50],"factors":[4],"that":[5,27,103],"drive":[6],"the":[7,14,60,75,78,82,87,90,93],"dynamics":[8],"of":[9,18,55,62,81,92],"commodity":[10,25,37],"prices.":[11],"highlight":[13],"capital":[15],"budgeting":[16],"implications":[17],"three":[19],"highly\u2010cited,":[20],"nested,":[21],"multi\u2010factor":[22],"models":[23],"for":[24,45,106,123],"prices":[26,38],"have":[28],"been":[29],"successful":[30],"in":[31,53,57,59,125],"empirical":[32],"investigations.":[33],"Competing":[34],"assumptions":[35],"regarding":[36],"and":[39,52,77,84,89,112],"their":[40],"convenience":[41,95,114],"yields":[42],"can":[43],"account":[44],"differences":[46,69],"close":[47],"to":[48,72],"40%":[49],"average,":[51],"excess":[54],"60%":[56],"cases,":[58],"valuation":[61],"typical":[63],"natural":[64],"resource":[65],"investments.":[66],"These":[67],"value":[68,80],"are":[70,104],"found":[71],"increase":[73],"with":[74,86],"maturity":[76],"intrinsic":[79],"investment,":[83],"also":[85],"level":[88],"volatility":[91],"resource's":[94],"yield.":[96],"Resources":[97],"such":[98,126],"as":[99],"oil":[100],"or":[101],"copper,":[102],"used":[105],"production":[107],"purposes,":[108],"usually":[109],"exhibit":[110],"high":[111],"volatile":[113],"yields;":[115],"thus":[116],"our":[117],"findings":[118],"should":[119],"be":[120],"more":[121],"relevant":[122],"decision\u2010makers":[124],"sectors.":[127]},"counts_by_year":[{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1},{"year":2013,"cited_by_count":2}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2016-06-24T00:00:00"}
