Research Article
International Oil Price Uncertainty, Operating Net Cash Flow and Corporate Investment Analysis Based on Stata and Python
@INPROCEEDINGS{10.4108/eai.6-1-2023.2330310, author={Yi Wang and Ye Miao and Xu Liang}, title={International Oil Price Uncertainty, Operating Net Cash Flow and Corporate Investment Analysis Based on Stata and Python}, proceedings={Proceedings of the 2nd International Conference on Big Data Economy and Digital Management, BDEDM 2023, January 6-8, 2023, Changsha, China}, publisher={EAI}, proceedings_a={BDEDM}, year={2023}, month={6}, keywords={international oil price uncertainty corporate investment operating net cash flow stata python}, doi={10.4108/eai.6-1-2023.2330310} }- Yi Wang
Ye Miao
Xu Liang
Year: 2023
International Oil Price Uncertainty, Operating Net Cash Flow and Corporate Investment Analysis Based on Stata and Python
BDEDM
EAI
DOI: 10.4108/eai.6-1-2023.2330310
Abstract
Under the influence of supply and demand, politics and other factors, international oil prices have been in sharp fluctuations. As a large crude oil consumption country, oil prices frequent fluctuations will affect China's economic growth. It is important to study the microeconomic effects of oil price fluctuations. Based on this, this paper downloads the company's data from CASMA, and uses Python software to crawl missing data from the annual financial report. Then this paper takes the panel data of all A-share listed companies from the first quarter of 2014 to the fourth quarter of 2019 as samples and uses Stata software to build OLS regression model to study the impact of international oil price uncertainty on corporate investment. The empirical results show that: (1) International oil price uncertainty has a significant inhibitory effect on the investment; (2) The negative effect between two is partly caused by the decrease of operating net cash flow; (3) International oil price uncertainty has a more significant inhibitory effect on small-scale corporate investment.
