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This study examines the impact of oil price uncertainty on mergers and acquisition (M&A) activity in the oil and gas sector. Analyzing this industry enables us to construct a natural forward-looking measure of oil price uncertainty, namely the implied crude oil volatility. Using a sample of U.S. firms in the oil and gas sector from 1994–2018 containing 4,323 announced transactions, we document that oil price uncertainty is negatively related to future M&A activity. Uncertainty is mainly a driver of horizontal and vertical M&A activity, where upstream firms are more affected by this uncertainty than downstream firms. Our results lend support to a real options explanation of investment under uncertainty where firms choose to defer investments as a response to increased uncertainty.

Nuclear power can replace fossil fuels and will have a decisive impact on the change in the approach to conventional energy. However, nuclear (or radioactive) wastes are produced by the operation of the nuclear reactors should be safely and properly disposed of. This paper assesses the uranium resources and the global state of nuclear power plants and determines the energy mixes in different countries using the most nuclear energy. Furthermore, this paper analysed the nuclear waste management and disposal and the depletion of abiotic resources, and the primary energy sources of a basic production process using electricity mix and nuclear electricity for a basic production (PET bottle manufacturing) process. The life cycle assessment was completed by applying the GaBi 8.0 (version 10.6) software and the CML method. In this study, we limit our discussion to high-level nuclear waste (HLW) and spent nuclear fuel (SNF) waste. We do not consider waste generated from uranium mining and milling, which is usually disposed of in near-surface impoundments close to the mine or the mill. The investigation of waste management methods is limited to European countries. This research work is relevant because determining abiotic resources is important in a life cycle assessment and current literature available on LCA analysis for nuclear powers remains under-developed. These results can guide and compare manufacturing processes involving a nuclear electricity and electricity grid mix input. The results of this research can be used to develop production processes using nuclear energy with lower abiotic depletion impacts. This research work facilitates the industry in making predictions for a production-scale plant using an LCA of production processes with nuclear energy consumption.

The aim of this paper is to identify Granger causality between energy consumption and economic growth in post-communist countries in the period 1993 to 2011. Bootstrap panel Granger causality test was used as a research tool in order to accommodate for countryspecific heterogeneity and to avoid the problem of cross-sectional dependence. The analysis allowed for the verification of the hypothesis regarding the links between economic growth and energy consumption in nine countries. The hypotheses were confirmed: the growth hypothesis in three countries and the feedback hypothesis in one country.

Examining selected aspects of labour market performance in the Polish tourism sector can extend our knowledge of hotel company attitudes in connection with COVID-19. The aims of this article are to present selected determinants of labour market performance in the Polish tourism sector (with particular emphasis on the hotel industry) in the era of the COVID-19 pandemic and to address the following research question: how did the COVID-19 pandemic affect the functioning of hotel companies in the key tourist region of Poland—Zachodniopomorskie province? The research methods used in the study included critical analysis of source literature, survey method, correspondence analysis method, and analysis of primary and secondary data, mainly from official statistics. The survey was conducted in January 2022. Information was collected from 129 respondents using surveys. The results of the research presented in the article reveal that the observed long-term upward trend in the national labour market has been halted by the pandemic and that (among the various accommodation facilities) hotels are the most vulnerable to changes in the tourism labour market. The authors’ contributions to the literature are the identification of the extent to which businesses from the hotel industry have been affected by the COVID-19 pandemic and the determination of the impact of the pandemic on selected employment-related aspects of business operations in Zachodniopomorskie province.

The main objective of the research is to assess the ability of the Ukrainian economy and its individual industries to ensure, in the conditions of economic growth, a stable reduction of natural gas consumption and, consequently, to reduce dependence on its imports. Six types of relationships were identified between the change in sectoral added value and the change in the consumption of certain energy resources, in particular natural gas. The conditions are established under which the growth of sectoral added value is accompanied by a decrease in the consumption of certain energy resources. The index of sectoral efficiency of the use of certain energy resources was proposed and a model of the decomposition of the growth rate of this indicator was constructed. Quantitative indicators of measuring economic barriers on the way to introduction of energy-saving technologies are presented. Conditions under which economic growth is accompanied by a decrease in the level of dependence of the economy on imports of energy resources are modeled. The dynamics of natural gas consumption by sectors of the Ukrainian economy is analyzed. It is proved that reduction of natural gas consumption due to increased energy efficiency occurs mainly in industries with an average value of share of the cost of purchasing this energy in the total operating expenses. An estimation is undertaken of the possibility of achieving independence of the Ukrainian economy from the import of natural gas in different scenarios of changing main parameters that determine the probability of such an achievement.

© 2021 Elsevier LtdDespite extensive research to address the impact of environmental reforms under the Paris Climate Agreement, current literature has failed to provide sufficient insights into Regional Comprehensive Economic Partnership (RCEP) countries. To this end, the current study attempts to address the impact of the economic complexity on environmental quality in the presence of renewable energy consumption, financial development, urbanization and energy innovation in RCEP countries from 1990 to 2019. Our empirical estimates confirm a significant association between environmental quality, economic complexity index, renewable energy consumption, financial development, urbanization and energy innovation in the short-run and long run. Based on extensive econometric analysis (CS-ARDL, AMG, PMG, FMOLS, and DOLS), we conclude that economic complexity, renewable energy, and energy innovation effectively mitigate environmental degradation. At the same time, financial development and urbanization have an adverse impact on the environment. These findings have extensive policy implications for policymakers and environmental stakeholders, who are aiming to achieve sustainable energy policy and economic growth to meet the environmental commitments under Paris Climate Agreement.

Abstract The paper presents a comprehensive approach to capturing the scale of exposure to hidden energy poverty at a household level in 11 Central and Eastern European countries. Despite constant refinements, the currently used energy poverty metrics remain highly controversial when it comes to inter-country comparisons. Scarce data and the lack of agreement on the energy poverty definition among the EU countries impedes operationalization of energy poverty measures on a global scale. Instead, we propose a reliable tool for tracking hidden energy poverty based on the existing micro-level data compiled by Eurostat. The paper assumes that the energy poor limit their energy consumption to the level below what is reasonably assumed a decent life. To estimate the expected energy costs, the paper introduces a new statistical approach. We consider multiple aspects of exposure to hidden energy poverty, including dwelling parameters and location, households’ structure, and regional specificity. Our findings confirm that on average 23.57% of the Central and Eastern European population is exposed to hidden energy poverty. The examined profiles are quite heterogeneous. In general, the affected are single-person households or living in detached houses and remote areas households with dependent children. The paper provides suggestions for targeted policy action.