TAILIEUCHUNG - A study on the growth strategy and the role of korea national oil corporation using empirical analysis of worldwide oil companies

The empirical results indicate that the state owned oil companies underperform the private oil companies and a political preference for a state ownership oil companies will come at an economic cost. Even though the results seem to suggest privatization for KNOC, there are some empirical evidences that the existence of state ownership is still important for the stability of the domestic energy market. | Đỗ Đình Long và Đtg Tạp chí KHOA HỌC & CÔNG NGHỆ 105(05): 65 - 73 A STUDY ON THE GROWTH STRATEGY AND THE ROLE OF KOREA NATIONAL OIL CORPORATION USING EMPIRICAL ANALYSIS OF WORLDWIDE OIL COMPANIES Do Dinh Long1, Zhang Yanping2, Zulfikar Yurnaidi2, Shin Young Um2, Suduk Kim2* 1 College of Economics and Business Administration - TNU, Vietnam 2 Ajou University, Korea SUMMARY Korea National Oil Corporation (KNOC) is planning to be a first-class world leading company while there is still much debate regarding the efficiency of National Oil Company (NOC) model. The purpose of this paper is to discuss the growth strategy and the role of KNOC in Korea. To facilitate the comparison of KNOC and other companies, national oil companies (NOCs) experience are examined. Additionally, we use 520 NOC samples from the year 2000 to 2008 for an empirical analysis. The empirical results indicate that the state owned oil companies underperform the private oil companies and a political preference for a state ownership oil companies will come at an economic cost. Even though the results seem to suggest privatization for KNOC, there are some empirical evidences that the existence of state ownership is still important for the stability of the domestic energy market. Key words: Growth strategy, KNOC, NOCs, State Ownership, Private Ownership INTRODUCTION* Since late 1990s, the liberalization and privatization trends of NOCs have been gone to the opposite way compared with the previous periods [13]. Many countries ruled out the steps toward privatization and even forced nationalization of major foreign-owned oil assets such as the cases of Bolivia, Ecuador, Russia and Venezuela [9]. As a result, a reemergence of fundamental debate between State Ownership oil companies and Private Oil companies has been seen recently(1) [10]. Korea National Oil Corporation (KNOC) is a state-owned company whose main role is to build a stable balance between petroleum supply and demand through the .

• Hoá dầu
• Korea National Oil Corporation
• The efficiency of National Oil Company (NOC) model
• National oil companies (NOCs)
• The domestic energy market
• The state owned oil companies