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dc.contributor.authorDahle, Heidi
dc.contributor.authorGranheim, Gine Andrea
dc.date.accessioned2018-12-21T08:49:02Z
dc.date.available2018-12-21T08:49:02Z
dc.date.issued2018
dc.identifier.urihttp://hdl.handle.net/11250/2578601
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2018nb_NO
dc.description.abstractIn this thesis, we quantify the financial value added by reallocating petroleum revenues from oil reserves to the Government Pension Fund Global. By making a comparable scenario of a hypothetical oil reserve with lower extraction rate and no fund, we identified a value created from the risk reduction of investment diversification. The estimation of value added is sensitive to oil price volatility and investors’ level of risk aversion. In addition, we perform a portfolio optimization between the combination of investing in a fund and storing below ground. We find evidence of improvements in mean return, standard deviation and Sharpe ratio, compared to the current strategy of high extraction rate and investing all petroleum revenues in the Government Pension Fund Global.nb_NO
dc.language.isoengnb_NO
dc.publisherHandelshøyskolen BInb_NO
dc.subjectfinansnb_NO
dc.subjectfinancenb_NO
dc.titleThe Financial Value Added from Petroleum-Fund Mechanismnb_NO
dc.typeMaster thesisnb_NO


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