{"id":"https://openalex.org/W7224094452","doi":"https://doi.org/10.1108/ijesm-09-2025-0024","title":"Natural resource intensity and financial distress dynamics: an empirical investigation across South Asian energy firms","display_name":"Natural resource intensity and financial distress dynamics: an empirical investigation across South Asian energy firms","publication_year":2026,"publication_date":"2026-10-28","ids":{"openalex":"https://openalex.org/W7224094452","doi":"https://doi.org/10.1108/ijesm-09-2025-0024"},"language":"en","primary_location":{"id":"doi:10.1108/ijesm-09-2025-0024","doi":"https://doi.org/10.1108/ijesm-09-2025-0024","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijesm-09-2025-0024","pdf_url":null,"source":{"id":"https://openalex.org/S161018996","display_name":"International Journal of Energy Sector Management","issn_l":"1750-6220","issn":["1750-6220","1750-6239"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Energy Sector 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/A5010753483","display_name":"Gourav Roy","orcid":"https://orcid.org/0000-0001-9782-9103","observed_orcids":["https://orcid.org/0000-0001-9782-9103"]},"institutions":[{"id":"https://openalex.org/I4405255706","display_name":"Bangladesh Institute of Capital Market","ror":"https://ror.org/03ar63e27","country_code":"BD","type":"education","lineage":["https://openalex.org/I4405255706"]}],"countries":["BD"],"is_corresponding":true,"raw_author_name":"Gourav Roy","raw_affiliation_strings":["Bangladesh Institute of Capital Market , Dhaka,"],"raw_orcid":"https://orcid.org/0000-0001-9782-9103","affiliations":[{"raw_affiliation_string":"Bangladesh Institute of Capital Market , Dhaka,","institution_ids":["https://openalex.org/I4405255706"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5136811284","display_name":"Debashish Nath","orcid":"https://orcid.org/0009-0004-5046-7255","observed_orcids":["https://orcid.org/0009-0004-5046-7255"]},"institutions":[{"id":"https://openalex.org/I205746353","display_name":"University of Dhaka","ror":"https://ror.org/05wv2vq37","country_code":"BD","type":"education","lineage":["https://openalex.org/I205746353"]}],"countries":["BD"],"is_corresponding":false,"raw_author_name":"Debashish Nath","raw_affiliation_strings":["University of Dhaka Department of Management Information Systems, , Dhaka,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Dhaka Department of Management Information Systems, , Dhaka,","institution_ids":["https://openalex.org/I205746353"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5160049546","display_name":"Md. Ashak Bin Hasan","orcid":"https://orcid.org/0009-0007-1223-8808","observed_orcids":["https://orcid.org/0009-0007-1223-8808"]},"institutions":[{"id":"https://openalex.org/I103434671","display_name":"American International University-Bangladesh","ror":"https://ror.org/02j8ga255","country_code":"BD","type":"education","lineage":["https://openalex.org/I103434671"]}],"countries":["BD"],"is_corresponding":false,"raw_author_name":"Md. Ashak Bin Hasan","raw_affiliation_strings":["American International University-Bangladesh (AIUB) Department of Accounting and Finance, , Dhaka,"],"raw_orcid":"https://orcid.org/0009-0007-1223-8808","affiliations":[{"raw_affiliation_string":"American International University-Bangladesh (AIUB) Department of Accounting and Finance, , Dhaka,","institution_ids":["https://openalex.org/I103434671"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5010753483"],"corresponding_institution_ids":["https://openalex.org/I4405255706"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.88335117,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":"1","last_page":"29"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.961899995803833,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.961899995803833,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"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/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.00839999970048666,"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/T10019","display_name":"Corporate Finance and Governance","score":0.003700000001117587,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-distress","display_name":"financial distress","score":0.9779999852180481},{"id":"https://openalex.org/keywords/energy-companies","display_name":"energy companies","score":0.9769999980926514},{"id":"https://openalex.org/keywords/altman-z-score","display_name":"Altman Z-score","score":0.7739999890327454},{"id":"https://openalex.org/keywords/ohlson-o-score","display_name":"Ohlson O-score","score":0.953000009059906},{"id":"https://openalex.org/keywords/resource-efficiency","display_name":"resource efficiency","score":0.5809999704360962},{"id":"https://openalex.org/keywords/country-specific-effects","display_name":"country-specific effects","score":0.5680000185966492},{"id":"https://openalex.org/keywords/south-asia","display_name":"South Asia","score":0.6150000095367432}],"concepts":[{"id":"https://openalex.org/C2778869765","wikidata":"https://www.wikidata.org/wiki/Q6028363","display_name":"Inefficiency","level":2,"score":0.695900022983551},{"id":"https://openalex.org/C2984760201","wikidata":"https://www.wikidata.org/wiki/Q1785212","display_name":"Financial distress","level":2,"score":0.4756999909877777},{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.4749000072479248},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4729999899864197},{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.46639999747276306},{"id":"https://openalex.org/C206345919","wikidata":"https://www.wikidata.org/wiki/Q20380951","display_name":"Resource (disambiguation)","level":2,"score":0.4629000127315521},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.44600000977516174},{"id":"https://openalex.org/C29985473","wikidata":"https://www.wikidata.org/wiki/Q188460","display_name":"Natural resource","level":2,"score":0.4399999976158142},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.42489999532699585},{"id":"https://openalex.org/C66204764","wikidata":"https://www.wikidata.org/wiki/Q219416","display_name":"Sustainability","level":2,"score":0.396699994802475},{"id":"https://openalex.org/C139265228","wikidata":"https://www.wikidata.org/wiki/Q5283089","display_name":"Distress","level":2,"score":0.3409000039100647},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.33320000767707825},{"id":"https://openalex.org/C98014903","wikidata":"https://www.wikidata.org/wiki/Q832161","display_name":"Financial ratio","level":2,"score":0.3310000002384186},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.3253999948501587},{"id":"https://openalex.org/C3019281177","wikidata":"https://www.wikidata.org/wiki/Q771405","display_name":"South asia","level":2,"score":0.32249999046325684},{"id":"https://openalex.org/C97615858","wikidata":"https://www.wikidata.org/wiki/Q1341351","display_name":"Energy intensity","level":3,"score":0.322299987077713},{"id":"https://openalex.org/C196083921","wikidata":"https://www.wikidata.org/wiki/Q7915758","display_name":"Variance (accounting)","level":2,"score":0.3199999928474426},{"id":"https://openalex.org/C186370098","wikidata":"https://www.wikidata.org/wiki/Q442787","display_name":"Energy (signal processing)","level":2,"score":0.31200000643730164},{"id":"https://openalex.org/C2777172336","wikidata":"https://www.wikidata.org/wiki/Q2700433","display_name":"Energy security","level":3,"score":0.29190000891685486},{"id":"https://openalex.org/C2986840890","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial sector","level":2,"score":0.2784999907016754},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.27250000834465027},{"id":"https://openalex.org/C18762648","wikidata":"https://www.wikidata.org/wiki/Q42213","display_name":"Work (physics)","level":2,"score":0.27140000462532043},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.26159998774528503},{"id":"https://openalex.org/C2778300220","wikidata":"https://www.wikidata.org/wiki/Q114380","display_name":"Financial crisis","level":2,"score":0.2556000053882599},{"id":"https://openalex.org/C130731218","wikidata":"https://www.wikidata.org/wiki/Q1363554","display_name":"Financial analysis","level":2,"score":0.2540999948978424},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.25029999017715454}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/ijesm-09-2025-0024","doi":"https://doi.org/10.1108/ijesm-09-2025-0024","is_oa":false,"landing_page_url":"https://doi.org/10.1108/ijesm-09-2025-0024","pdf_url":null,"source":{"id":"https://openalex.org/S161018996","display_name":"International Journal of Energy Sector Management","issn_l":"1750-6220","issn":["1750-6220","1750-6239"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Energy Sector Management","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.48510000109672546,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":58,"referenced_works":["https://openalex.org/W1495656322","https://openalex.org/W1594062154","https://openalex.org/W1608226124","https://openalex.org/W1967769596","https://openalex.org/W1969230115","https://openalex.org/W1975994995","https://openalex.org/W1976386631","https://openalex.org/W2021163195","https://openalex.org/W2022220920","https://openalex.org/W2034301206","https://openalex.org/W2035554302","https://openalex.org/W2048801439","https://openalex.org/W2053020350","https://openalex.org/W2060806362","https://openalex.org/W2067402622","https://openalex.org/W2103230795","https://openalex.org/W2103847341","https://openalex.org/W2112352537","https://openalex.org/W2120907018","https://openalex.org/W2123136623","https://openalex.org/W2124532504","https://openalex.org/W2170433190","https://openalex.org/W2202209669","https://openalex.org/W2550878492","https://openalex.org/W2593151889","https://openalex.org/W2800217165","https://openalex.org/W2896026169","https://openalex.org/W2908197758","https://openalex.org/W2917193418","https://openalex.org/W2922561566","https://openalex.org/W2947634169","https://openalex.org/W2988039629","https://openalex.org/W2994460391","https://openalex.org/W3082647243","https://openalex.org/W3083791742","https://openalex.org/W3107595844","https://openalex.org/W3120001361","https://openalex.org/W3121084039","https://openalex.org/W3121176335","https://openalex.org/W3121403162","https://openalex.org/W3121955125","https://openalex.org/W3122639747","https://openalex.org/W3122781896","https://openalex.org/W3123008345","https://openalex.org/W3124240175","https://openalex.org/W3125168868","https://openalex.org/W3125701855","https://openalex.org/W3125805432","https://openalex.org/W3140341013","https://openalex.org/W4212879302","https://openalex.org/W4243164716","https://openalex.org/W4307290211","https://openalex.org/W4311178714","https://openalex.org/W4312081293","https://openalex.org/W4385247799","https://openalex.org/W4386111991","https://openalex.org/W4386775680","https://openalex.org/W4389856784"],"related_works":["https://openalex.org/W7171547543","https://openalex.org/W7164362745","https://openalex.org/W7169051546","https://openalex.org/W4400299723","https://openalex.org/W3174855381","https://openalex.org/W4390167547","https://openalex.org/W7111128898","https://openalex.org/W3160027252","https://openalex.org/W3214852466","https://openalex.org/W7110933700"],"abstract_inverted_index":{"Purpose":[0],"This":[1,29,51,152,209],"study":[2,30,52,153,185],"aims":[3],"to":[4,174],"examine":[5],"the":[6,14,33,40,65,70,97,128,134,172,198,233,238,246],"relationship":[7],"between":[8],"natural":[9,189],"resource":[10,243],"inefficiency,":[11],"measured":[12,79],"by":[13,144,236,242],"Natural":[15],"Resource":[16],"Intensity":[17],"Ratio":[18],"(NRIR),":[19],"and":[20,39,48,72,83,103,115,127,147,157],"financial":[21,120,195,214,239],"distress":[22,77,215],"among":[23],"energy":[24,62,247],"firms":[25,63],"in":[26,45,64,140,161,170,245],"South":[27,163,222],"Asia.":[28],"further":[31,104],"examines":[32],"moderating":[34],"role":[35],"of":[36,43,101,183],"firm":[37],"size":[38,123],"country-specific":[41,204],"effects":[42],"NRIR":[44,109,212],"Bangladesh,":[46],"India":[47,145],"Pakistan.":[49],"Design/methodology/approach":[50],"uses":[53,87],"300":[54],"firm-year":[55],"observations":[56],"(2015\u20132024)":[57],"covering":[58],"all":[59],"30":[60],"listed":[61,155],"three":[66,162],"markets":[67],"that":[68,187],"satisfy":[69],"continuous-listing":[71],"resource-cost":[73],"disclosure":[74],"criteria.":[75],"Financial":[76],"is":[78,110,138,168,227],"through":[80],"Altman\u2019s":[81],"Z-score":[82],"Ohlson\u2019s":[84],"O-score.":[85],"Estimation":[86],"fixed":[88],"effects,":[89],"cluster-robust":[90],"variance":[91],"estimation,":[92],"PCSE,":[93],"Driscoll\u2013Kraay":[94],"standard":[95],"errors,":[96],"system":[98],"generalised":[99],"method":[100],"moments":[102],"robustness":[105],"checks.":[106],"Findings":[107],"Higher":[108],"associated":[111],"with":[112],"lower":[113],"Z-scores":[114],"higher":[116],"O-scores,":[117],"indicating":[118],"increased":[119],"distress.":[121,196],"Firm":[122],"moderates":[124],"this":[125,184],"relationship,":[126],"NRIR\u2013distress":[129],"slope":[130,200],"varies":[131],"across":[132,202],"markets:":[133],"total":[135],"marginal":[136],"effect":[137],"steepest":[139],"Pakistan":[141],"(\u221221.44),":[142],"followed":[143],"(\u221213.59)":[146],"Bangladesh":[148],"(\u22129.79).":[149],"Research":[150],"limitations/implications":[151],"covers":[154],"fuel":[156],"power":[158],"sector":[159],"companies":[160],"Asian":[164],"countries,":[165],"so":[166],"caution":[167],"required":[169],"generalising":[171],"results":[173,182,231],"other":[175],"sectors":[176],"or":[177],"economies.":[178],"Practical":[179],"implications":[180],"The":[181,230],"indicate":[186],"improving":[188],"resource-use":[190],"efficiency":[191],"can":[192],"materially":[193],"reduce":[194],"Because":[197],"estimated":[199],"differs":[201],"markets,":[203],"measures":[205],"are":[206],"proposed.":[207],"Originality/value":[208],"research":[210],"integrates":[211],"into":[213],"models,":[216],"offering":[217],"multi-country,":[218],"firm-level":[219],"evidence":[220],"for":[221],"Asia,":[223],"where":[224],"existing":[225],"work":[226],"predominantly":[228],"macroeconomic.":[229],"supplement":[232],"sustainability":[234],"discourse":[235],"identifying":[237],"risks":[240],"posed":[241],"inefficiency":[244],"sector.":[248]},"counts_by_year":[],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2026-10-29T00:00:00"}
