西南石油大学学报(社会科学版) ›› 2020, Vol. 22 ›› Issue (5): 1-6.DOI: 10.11885/j.issn.1674-5094.2020.05.25.04

• ENERGY DEVELOPMENT •     Next Articles

Asset Specialization, Information System Investment and Internal Control——Taking the Intelligent Oilfield as an Example

Xu Hongyu1, Dai Zewei2   

  1. 1. School of Economics and Management, Southwest Petroleum University, Chengdu Sichuan, 610500, China;
    2. School of Accounting, Southwest University of Finance and Economics, Chengdu Sichuan, 611130, China
  • Received:2019-10-16 Online:2020-09-01 Published:2020-09-01
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Abstract: In the current wave of digitization,enterprises are vulnerable to over-investment or under-investment. IT-based smart projects do not necessarily generate direct cash flows, so the traditional economic evaluation model is no longer applicable. Taking the construction of intelligent oilfield as an example, this paper discusses the investment decision making in terms of asset specialization and transaction costs. We establish a qualitative evaluation framework for IT-based project investment, which can help companies make scientific decisions in the face of different types of new technologies and maximize investment returns. We also provide detailed operational recommendations for internal control during the entire investment process.

 

Key words: investment efficiency, internal control, asset specialization, intelligent oilfield, IT-based projects

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