An investigation of the emerging system of host government participation in the international oil industry with particular reference to Libyan participation arrangements

This study has been conceived with the primary objective of identifying and evaluating the financial aspects of the transformation in country/company relations of the international oil industry from the traditional concessionary system to the system of governmental participation in the ownership and operation of oil concessions. The emphasis of the inquiry was placed on assembling a case study of the oil exploitation arrangements of Libya. Through a comprehensive review of the literature, the sociopolitical factors surrounding the international oil business were identified and examined in an attempt to see their influence on contractual arrangements and particularly to gauge the impact of any induced contractual changes on the revenue benefit accruing to the host country from its oil operations. Some comparative analyses were made in the study to examine the viability of the Libyan participation deals both as an investment proposal and as a system of conducting oil activities in the country. The analysis was carried out in the light of specific hypotheses to assess the relative impact of the participation scheme in comparison with the alternative concessionary model on the net revenue resulting to the government from oil operations and the relative effect on the level of research and development within the industry. A discounted cash flow analysis was conducted to measure inputs and outputs of the comparative models and judge their revenue benefits. Then an empirical analysis was carried out to detect any significant behavioural changes in the exploration and development effort associated with the different oil exploitation systems. Results of the investigation of revenues support the argument that the mere introduction of the participation system has not resulted in a significant revenue benefit to the host government. Though there has been a significant increase in government revenue, associated with the period following the emergence of the participation agreements, this increase was mainly due to socio-economic factors other than the participation scheme. At the same time the empirical results have shown an association of the participation scheme with a decline of the oil industry's research and development efforts.

Accounting students' perceptions of a Learning Management System:an international comparison

Purpose - The purpose of this study is to investigate student perceptions of the design features included in an off the shelf Learning Management System (LMS) in teaching undergraduate accounting students. Design/methodology/approach - Questionnaire responses from 846 accounting students studying in the UK, Australia and New Zealand provide international data to develop a model to explain student perception of the LMS. Findings - The final model shows student satisfaction with the use of a LMS is positively associated with three variables: usefulness of lecture notes, bulletin boards and discussion forums, and other LMS tools. Further, the comparison of cultural differences of the three countries shows all students treat the provision of notes as a desirable attribute on a LMS. Findings also suggest that although students find the provision of materials over the LMS does not enhance student engagement in class, overall a comparison of the three countries shows all students treat the provision of notes as a desirable attribute of a LMS. Research limitations/implications - Future research should collect ethnicity data to enable an analysis of cultural influence on student perceptions of the LMS. Practical implications - As increased motivation to learn is found to contribute to improved achievement of learning outcomes, the study's findings have implications for faculty contemplating the adoption of a LMS in their courses. The findings specifically confirm that usefulness of lecture notes, use of bulletin/discussion boards, and other LMS tools are positively endorsed by students and hence increase their motivation to learn. Originality/value - The current paper adds to the literature as the motivation to use and engage with LMSs by accounting students is not well understood. © Emerald Group Publishing Limited.