Oil exploration has been subject to economic research for decades. Earlier studies of exploration models are mostly discussed the behavior of exploration at the macro-level analysis such as field, firm, region, and continental. This paper then focuses on the geological and economic factors that determine the well-drilling decision at the micro-level using disaggregated panel data of 32 geological basins in Indonesia over the period of 2004–2013. This study shows that the number of drilled wells is determined significantly by the lag of success rate, lag of discovery size, lag of global oil price, and regional location of geological basin. AbstrakEksplorasi migas telah menjadi subyek ekonomi dalam beberapa dekade. Studi-studi sebelumnya dengan model eksplorasi, kebanyakan mengembangkan model Fisher (1964), secara umum dikelompokkan oleh persamaan yang menjelaskan respons eksplorasi pada tingkat makro menggunakan lapangan, perusahaan, wilayah, dan kontinental. Paper ini fokus pada analisis faktor-faktor geologi dan ekonomi yang menentukan tingkat sumur pemboran pada tingkat mikro menggunakan data panel dari 32 basin di Indonesia dalam periode 2004–2013. Hasil empiris menunjukkan bahwa tingkat sumur pemboran ditentukan secara signifikan berdasarkan tingkat keberhasilan pemboran, ukuran temuan dan harga minyak pada tahun sebelumnya serta lokasi basin geologis.Kata kunci: Pengeboran; Variabel Geologi; Variabel Ekonomi; EksplorasiJEL classifications: L71; Q35

Petroleum exploration decision remains a subject of petroleum and economic studies for decades. Most of the  studies discuss the investment decision by focusing on either a technical or economic perspective. In reality, economic, geological, and environmental factors are expected to determine the way investors make a decision. This study aims to increase the understanding of best practices in decision-making by scrutinizing integrative perspectives applying panel data of 32 basins in Indonesia in 2004–2015. This study provides several contributions to optimize decisions on wells drilled. First, this study derives an empirical model examining several plausible factors of economy, geology, and environment. Second, the findings demonstrate how to empirically examine which factors significantly determine wells drilled by companies. The last contribution is to empirically support a technical transformation from Western to Eastern exploration due to the natural depletion of oil fields.

Manuscript type: Review paper Research aims: This study aims to analyse the published works of strategic decision in business and management which have had the greatest impact and evolutionary scientific trend within the intellectual sphere. Drawing from the integrative perspective, this study attempts to: (i) investigate the intellectual structure of earlier works so as to analyse the evolution of strategic decisions; (ii) examine the evolutionary scientific trends, and (iii) identify some implications for future research in this area. Design/Methodology/Approach: This study generates its analysis based on the following bibliometric tools: (i) multidimensional data analysis using the Sankey Diagram, (ii) visual network and heat map analysis using the VOSviewer, and (3) strategic diagrams and evolution maps using the SciMAT. The methodology is based on the bibliometric technique of citation and co-citation analyses which are scientifically applied to a sample of 1,218 articles published in leading management and business journals over a period of 48 years, from 1971 to 2018.

The unprecedented importance of leadership and decision-making under recent pandemic and economic crises boosts the development of this research domain. This study shed light on the published works of leadership and decision-making under crises which have had the greatest contribution and evolutionary scientific paths over the decades, which are: (1) inspect the scientific anatomy of earlier works and their main structures; (2) scrutinize the scientific trends and the evolutionary path, and (3) recognize theoretical and practical implications. This study generates its analysis based on R programming language with a package of 'bibliometrix' (a) multidimensional data analysis, (b) intellectual structure and network analysis, (c) conceptual structure and factorial analysis, (d) strategic diagrams and evolution maps, and (e) historical citation network and research collaboration across the world. From this bibliometric study covering 692 articles published in the academic journal from 1962 to 2020, the findings open up an opportunity of how leaders overcome plausible crises by making the right decision through organizational resources, technological capability, people management. Subsequently, the findings can explain the way decisions are made so that prevent the potential crisis in the stage of planning and lessening the harm in the stage of crisis intervention. For theoretical contributions, it appears that future research needs to explore the emerging themes of data mining, artificial intelligence, information system, and information management. In the era of the COVID-19 pandemic, healthcare and crisis management are likely to be addressed by unleashing cutting-edge digital technology such as Artificial Intelligence (AI), Machine Learning (ML), and Internet of Things (IoT).

This study investigates the relationship between ICT adoption ratio and income inequality. While the majority studies explain the impact of ICT on income inequality via labor market, this study offers a different perspective on this relationship. The fast-growing ICT has influenced, not only the employment income, but also the household income, such as property income, consumer surplus, etc. Thus, this study seeks to show the impact of ICT on income inequality via household income channel. The large internet economy and the remarkable internet adoption increase in Indonesia demonstrate the considerable impact of ICT on the lives and income of people in Indonesia. By using panel data regression, this paper shows an inverted U-shape relationship between ICT adoption and income inequality. Low ICT adoption increased income inequality until a certain turning point, whereby higher ICT adoption reduced income inequality in society. The turning point relating to average adoption ratio of mobile phone, computer, and internet was 25%; while there was an average adoption ratio of 17% for computer and internet.