Xiyu Zhou

Historical pipeline construction cost analysis

This study aims to provide a reference for the pipeline construction cost, by analysing individual pipeline cost components with historical pipeline cost data. Cost data of 412 pipelines recorded between 1992 and 2008 in the Oil and Gas Journal are collected and adjusted to 2008 dollars with the chemical engineering plant cost index (CEPCI). The distribution and share of these 412 pipeline cost components are assessed based on pipeline diameter, pipeline length, pipeline capacity, the year of completion, locations of pipelines. The share of material and labour cost dominates the pipeline construction cost, which is about 71% of the total cost. In addition, the learning curve analysis is conducted to attain learning rate with respect to pipeline material and labour costs for different groups. Results show that learning rate and construction cost are varied by pipeline diameters, pipeline lengths, locations of pipelines and other factors. This study also investigates the causes of pipeline construction cost differences among different groups.

Motivations Behind the Acquisition of Mutual Funds

This paper studies the motivations behind mutual fund acquisitions. Results indicate that, consistent with the existing corporate mergers and acquisitions literature, a desire to seek synergy in the form of cost reduction in distribution and internal operation drives mutual fund acquisitions. In addition, acquisitions are partly driven by a desire to acquire managerial talent and a respectful performance record.