Economic Analysis: Theory and Practice
 

A methodological approach to performance evaluation of oil company restructuring

Vol. 17, Iss. 2, FEBRUARY 2018

Received: 4 April 2017

Received in revised form: 13 November 2017

Accepted: 12 December 2017

Available online: 1 March 2018

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: 

Pages: 324–339

https://doi.org/10.24891/ea.17.2.324

Gaifullina M.M. Ufa State Petroleum Technological University, Ufa, Republic of Bashkortostan, Russian Federation
marina_makova@list.ru

ORCID id: not available

Makov V.M. Ufa State Petroleum Technological University, Ufa, Republic of Bashkortostan, Russian Federation
valeram84@mail.ru

ORCID id: not available

Pavlova Yu.A. Ufa State Petroleum Technological University, Ufa, Republic of Bashkortostan, Russian Federation
yulinmail@mail.ru

ORCID id: not available

Importance Restructuring is an effective tool ensuring the operation of oil companies in changing conditions related to the aftermath of the world crisis, low oil prices, and financial sanctions. However, the results of restructuring program implementation are subject to unbiased assessment on the part of the company and public authorities that monitor the process. The article considers the development of a reasonable methodology to assess the efficiency of oil company restructuring.
Objectives The purpose is to devise a technique to assess the efficiency of oil company restructuring that would consider its impact on changes in indicators in the oil production and oil processing segment.
Methods We employ general scientific methods like analysis and synthesis, and economic and statistical methods, namely, tabular procedure and coefficient-based technique.
Results The paper defines nine stages of restructuring efficiency assessment and offers thirty three indicators of efficiency by five functional spheres. We designed a methodology to calculate an integrated indicator and a scale to evaluate the performance of restructuring based on the indicator.
Conclusions The offered technique and the algorithm to evaluate the performance of oil company restructuring can be used by oil company management and by public authorities in the course of efficiency monitoring. They may also be helpful to justify management decisions aimed at timely update of restructuring programs.

Keywords: restructuring, efficiency, assessment, technique, oil company

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ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

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