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Liquidity Risk And Its Determinants': A Study On Oil And Gas Industry In Tatneft

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  • Awin, Ejin

Abstract

ABSTRACT Liquidity risk management is an important aspect in the organisation. In order to avoid efficiency, it is important for an organisation to manage liquidity risk. Hence, this study attempted to investigate the influence of firm-specific factors and macro-economic factors affecting liquidity risk of oil and gas industry in Tatneft. This study employs time series analysis from 2012 to 2016. The analysis shows that firm-specific factors (average collection period and corporate governance index score) and macro-economic factor (company’s beta) influence the liquidity risk of the industry. This study suggest that the firms should manage their account receivable efficiently by establishing clear credit policy and incorporate more corporate governance elements such as transparency, accountability, fairness, and independence in the firms to make the company more efficient.

Suggested Citation

  • Awin, Ejin, 2018. "Liquidity Risk And Its Determinants': A Study On Oil And Gas Industry In Tatneft," MPRA Paper 86816, University Library of Munich, Germany, revised 15 Apr 2018.
  • Handle: RePEc:pra:mprapa:86816
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    Keywords

    Liquidity risk; Average collection period; Corporate governance;

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance

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