<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422017000501523</article-id>
<article-id pub-id-type="doi">10.1016/j.cya.2017.09.004</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Contratos de riesgo de petróleo, patrones de conducta y desempeño de empresas: Análisis de panel de datos]]></article-title>
<article-title xml:lang="en"><![CDATA[Oil risk contracts, business conduct and performance patterns: Data panel analysis]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ibarra Yúnez]]></surname>
<given-names><![CDATA[Alejandro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Flores Chapa]]></surname>
<given-names><![CDATA[Fidel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Tecnológico de Monterrey  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Tecnológico de Monterrey Escuela de Ingeniería y Ciencias ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2017</year>
</pub-date>
<volume>62</volume>
<numero>spe5</numero>
<fpage>1523</fpage>
<lpage>1537</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422017000501523&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422017000501523&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422017000501523&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: Usando datos del desempeño económico-financiero de las compañías internacionales de exploración y exploración-extracción de petróleo o IOC, así como los patrones de situación institucional y orientación con el mercado de gobiernos y empresas nacionales de petróleo o NOC receptoras de ofertas de proyectos, se analiza el desarrollo institucional y los patrones de conductapor tipo de contrato de compañías de exploración-extracción, siguiendo el enfoque de actor estratégico, o la llamada agency theory. Adicionalmente, ante la reforma energética de México, en proceso de implementación entre 2015 y 2019, se analizan los tipos de contratos de licencia frente a los de producción y utilidad compartida. Luego, utilizando métodos de panel de datos en análisis de 17 empresas entre 2005-2015, se determina que las empresas llamadas globales presentan rendimientos y compromisos mayores frente a las especializadas, demostrados por sus ingresos netos y rendimientos sobre capital o ROE.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: Using the economic and financial performance data of international companies for the exploration, and exploration-extraction (E&amp;E) of oil, as well as the patterns of institutional situation and orientation with the government market and national oil companies or NOCs that receive project offers, we analyze the institutional development and behavior patterns by type of E&amp;E contract, following the strategic actor approach, or the so-called agency theory. Additionally, in light of Mexico's energy reform being implemented between 2015 and 2019, we analyzed the types of license contracts compared to those for production and shared profit. Subsequently, it was determined-through panel data methods in the analysis of 17 companies between 2005 and 2015-that global companies present bigger yields and commitments compared to specialized companies, confirmed by their net income and returns on equity or ROE.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Economía de las regulaciones]]></kwd>
<kwd lng="es"><![CDATA[Modelos de negociación]]></kwd>
<kwd lng="es"><![CDATA[Exploración de petróleo]]></kwd>
<kwd lng="es"><![CDATA[Modelos de datos en panel]]></kwd>
<kwd lng="es"><![CDATA[L51]]></kwd>
<kwd lng="es"><![CDATA[C78]]></kwd>
<kwd lng="es"><![CDATA[L71]]></kwd>
<kwd lng="es"><![CDATA[C23]]></kwd>
<kwd lng="en"><![CDATA[Regulations economy]]></kwd>
<kwd lng="en"><![CDATA[Negotiation models]]></kwd>
<kwd lng="en"><![CDATA[Oil exploration]]></kwd>
<kwd lng="en"><![CDATA[Panel data models]]></kwd>
<kwd lng="en"><![CDATA[L51]]></kwd>
<kwd lng="en"><![CDATA[C78]]></kwd>
<kwd lng="en"><![CDATA[L71]]></kwd>
<kwd lng="en"><![CDATA[C23]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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