<p>The automotive industry is today in a world of globalisation and external factors can influence the car companies and it is important that they progress with the people. When an external factor, as the oil price, increases dramatically, it will affect the economies in different matters. Other external factors are impacted by the oil price, for example inflation, unemployment and target rates. In addition, people are changing their preferences due to the attention of the environment. With this as the foundation the problem of the essay were divided into three aspects. First, are the automotive companies affected by an increasing oil price? Second, is a different green thinking in the markets of the companies affecting them? Third, do economic trends making an impact on the auto companies? The purpose of this essay is to investigate if the oil price, a new green way of thinking and if different economical factors have affected the car companies. To be able to accomplish the purpose, the ten largest automotive companies’ annual reports and Internet sites were used to gather information about monthly and annual sales numbers. Along with that, other necessary sources as pollution rates for different areas; inflation rates, unemployment rates and target rates were collected. Theories that were necessary for analyzing the empiric work were used. The analysis part of the essay consists mostly of correlation- and regression analysis, because they are the most appropriate tools in this context. Furthermore, the study is stating that the car companies are demonstrating tendencies to being negatively affected by an increasing in the oil price. Moreover, auto companies with more green cars have more sales on markets that have additional green thinking. Lastly, the study is also concluding that economical trends do not affect the companies in any special circumstances.</p>

<p>Uppsatsen studerar hur aktiekurser i oljerelaterade bolag har reagerat vid kraftiga svängningar av oljepriset och undersöker hur oljepriset och aktiekurserna följer varandra under en längre period. Uppsatsen använder sig av en event studie samt ett korrelationstest som metod. Det ingår totalt 8 bolag i studien som undersöks mot Brent råolja. Studien visar att företagen reagerar vid en kraftig rörelse i oljepriset samt att det finns en stark korrelation mellan oljepriset och aktiekurserna i majoriteten av företagen.</p>

The automotive industry is today in a world of globalisation and external factors can influence the car companies and it is important that they progress with the people. When an external factor, as the oil price, increases dramatically, it will affect the economies in different matters. Other external factors are impacted by the oil price, for example inflation, unemployment and target rates. In addition, people are changing their preferences due to the attention of the environment. With this as the foundation the problem of the essay were divided into three aspects. First, are the automotive companies affected by an increasing oil price? Second, is a different green thinking in the markets of the companies affecting them? Third, do economic trends making an impact on the auto companies? The purpose of this essay is to investigate if the oil price, a new green way of thinking and if different economical factors have affected the car companies. To be able to accomplish the purpose, the ten largest automotive companies’ annual reports and Internet sites were used to gather information about monthly and annual sales numbers. Along with that, other necessary sources as pollution rates for different areas; inflation rates, unemployment rates and target rates were collected. Theories that were necessary for analyzing the empiric work were used. The analysis part of the essay consists mostly of correlation- and regression analysis, because they are the most appropriate tools in this context. Furthermore, the study is stating that the car companies are demonstrating tendencies to being negatively affected by an increasing in the oil price. Moreover, auto companies with more green cars have more sales on markets that have additional green thinking. Lastly, the study is also concluding that economical trends do not affect the companies in any special circumstances.

This paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causality test results show that only India’s economic growth is significantly affected when crude oil price decreases. Impact of crude oil price increase is insignificantly negative for all three countries during first year. In second year, impact is negative but smaller than first year for India, negative but larger for Bangladesh and positive for Pakistan.

This study seeks to assess the correlation which exists between exchange rate of Nigerian naira and Unites States dollar and oil price on the basis of monthly data from 1999-2009. The research employ the fundamental variables which were assumed to be the monthly spot crude oil price, monthly exchange rate of Nigeria naira and monthly exchange rate of United States dollar. The empirical result adopted the ordinary least square using regression analysis and also the correlation model which shows that there is a weak/negative relationship between exchange rate and oil price as there are other factors that brings about changes in oil price other than the exchange rate. The activities of cartel pricing policy and oil speculators too have come to greatly affect the price of crude oil, and it will be interesting to examine the impact speculators have on the change in price of crude oil against the normal drivers of crude oil price.

This paper examines the oil price-macro economy relationship by means of analyzing the impact ofoil price on Industrial production, real effective exchange rate, long term interest rate and inflation rate for a sample of ten OECD countries using quarterly data for the period 1970q1-2011q1.The impact of oil price shock on industrial production is negative and occurs with a lag of one year. However, the impact has weakened considerably compared to the 1970s. The impact on real effective exchange rate is negative/positive for a net importer/exporter, and the magnitude of the shock depends on the county´s share of net import/export of total world demand/supply. Interest rates are affected negatively, through increase in inflation rates following the oil price shock. The effect tends to die out after 5-8 quarters following the shock for most of the variables and countries. This paper also applies alternative methods to test for unit root and cointegration, which takes into account for structural breaks in the data. The weakness of Phillips-Peron test is clearly demonstrated in the case of inflation rates and interest rates, where the test falsely considered the series to be non-stationary when they in fact are stationary around a structural break. There is also strong evidence of cointegration between oil price and inflation rates and between oil price and interest rates, especially when taking account for structural breaks. / This study also highlights the relevance of oil scarcity and oil peak theory. It is shown that these two terms should receive more attention than they have received so far as more oilexporters have reached their production peaks and more are likely to be followed. According to the data, renewable source of energy are not likely to dominate OECD countries energy mix in the short term, instead, there is a trend of increasing natural gas consumption among most of OECD countries. Natural gas markets are likely to play an equal role in the future as oil markets do today. The dilemma that importing countries are facing today, particularly in Europe, is whether to expose their markets to Russia or to the Middle East.

Abstract: Taiwan has limited resources graphically, so 97% of primary energy source is dependent on import. Industrial sectors are the main sources to Taiwanese economic development since the 1970s, and the oil is the base of the industries, therefore, the fluctuation of world oil price will lead to the fluctuation of domestic business cycles. Besides, Taiwanese economy has highly depended on international trade; therefore the international business cycles also have influence on the domestic business cycles. Furthermore, the international trade accounts for substantial percentage of balance of international payment. Thus, the change in the international trade will also have impact on Taiwanese economy. This paper investigates the influence of international business cycles to the Taiwanese economy. Using a structural vector-autoregressive model (SVAR model) of a small open economy (OE), our SVAR model includes industry product index (IP) of three regions (Asia, Europe, and North America), world oil price, the Taiwanese industry product index and the Taiwanese trade balance. We try to understand how these factors and their variance decompositions explain Taiwanese business cycles. We chose two periods to do the analysis¡G1974:01-1984:01 and 1985:01-2002:04. To summarize, Taiwanese business cycles were much more impacted by the factors from itself. Besides, we can also say that the impact is neither from nominal nor from real variables. Domestic shocks will be more important in explaining Taiwanese economy. Taiwan has limited resource and depends on import; however, the government will control the oil price. Therefore, we conclude that the world oil price does not have huge impact on Taiwanese economy during our studying period. Asian shocks maybe have more influence than other regions on Taiwanese economy gradually during our studying period.

Abstract The competitiveness of enterprises improves and lies in exploring, analyzing and solving the problem constantly, to keep and build an environment suitable for long term management. This research aims to discuss the profit factors which deeply influence the enterprise, let the case company understand the possible income statement faced in the future after analyzing, and reduce the risk of management by preparations in advance. To the case company, there are two main factors which influence profitability - oil price and the exchange rate of new Taiwan dollar to U.S. dollar. This research makes an analysis, do a prediction and judge to the future price trend. The crude oil has already stepped into high price era, and it is predicted to last for a while. Regardless the main reason that the oil-producing country has tasted the wealth that the high oil price has brought, the demand for crude oil is increasing constantly in China, and the high oil price doesn¡¦t bring great damage to the economy growth and inflation of the global, all sorts of signs show that high oil price will not be discontinued, and the exchange rate of new Taiwan dollar to U.S. dollar depends on the currency policy of U.S. dollar and the development of Taiwan¡¦s economy. And because the ability of consume is still strong constantly in the U.S., the Taiwan¡¦s policy to China has been indistinct as well, all enterprises are full of uncertainty to the future. Those factors influence the economy in Taiwan, thus the long-term pressure of exchange rate appreciation slackens relatively .It is unavoidable to fluctuate in a short time, when the hot money is passed in and out the stock market recently , the fluctuation becomes increasing and violent. But on long terms, in order to maintain the competition advantage for Taiwan exports, the possibility of wide range fluctuation on exchange rate is small. Finally, in order to seek the stable development for case company in the future , they issues new stock to raise the capital in secondary market and invest to the relative enterprises to obtain raw materials , so it is another main purpose of this research to evaluate rational value of new shares for reference.

Χρησιμοποιώντας δεδομένα σε κλαδικό επίπεδο, διερευνήσαμε την επίδραση που ασκεί η τιμή του πετρελαίου στην επενδυτική δραστηριότητα των επιχειρήσεων και την συνεπακόλουθη αβεβαιότητα που δημιουργεί το πετρέλαιο στις επιχειρήσεις. Το θεωρητικό υπόβαθρο δόθηκε από μοντέλα που μελετούν την επίδραση του κόστους του πετρελαίου στην επένδυση και στο προϊόν της επιχείρησης καθώς και την γραμμικότητα αυτής της επίδρασης. Επίσης, παρουσιάστηκαν μοντέλα που μελετούν την επενδυτική αδράνεια λόγω της αβεβαιότητας και την επιλογή της μη επένδυσης. Σύμφωνα με τα ευρήματα της εργασίας, το κόστος του πετρελαίου ασκεί αρνητική επίδραση στην συνολική επένδυση και στην επένδυση σε μηχανολογικό εξοπλισμό κι επιπλέον αυτή η επίδραση είναι γραμμική. Επίσης, βρέθηκε ότι η διακύμανση των τιμών του πετρελαίου δεν επιδρά στην επενδυτική δραστηριότητα των επιχειρήσεων. Συνοπτικά, αύξηση στις τιμές του πετρελαίου μειώνει την επένδυση σε μηχανολογικό εξοπλισμό, αφού αποτελεί την κύρια μορφή επένδυσης σε κατασκευαστικές επιχειρήσεις που μελετώνται στην εν λόγω έρευνα. / Using industry level data, we investigated the effect that oil prices exert on firm’s investment activity and whether the decision to invest is affected by oil price uncertainty. The theoretical background is given by models emphasizing the effect of oil price on firm’s investment and product as well as the linearity of that effect. Furthermore, some of the theoretical models, which presented in the paper, include investment inactivity because of uncertainty and the choice of investment inaction. According to our results, oil price affects negatively total investment and machinery equipment investment, and that effect is linear. Moreover, the variance of oil price does not affect firm’s investment activity. Essentially, an increase in oil prices reduces investment in mechanical equipment, which is the dominating cost of investment in manufacturing industry that is studied in the paper.

Uppsatsen studerar hur aktiekurser i oljerelaterade bolag har reagerat vid kraftiga svängningar av oljepriset och undersöker hur oljepriset och aktiekurserna följer varandra under en längre period. Uppsatsen använder sig av en event studie samt ett korrelationstest som metod. Det ingår totalt 8 bolag i studien som undersöks mot Brent råolja. Studien visar att företagen reagerar vid en kraftig rörelse i oljepriset samt att det finns en stark korrelation mellan oljepriset och aktiekurserna i majoriteten av företagen.