Impact and engagement play a pivotal role in shaping the success and relevance of our Business School. The School has made significant contributions through its impactful research projects that encompass a wide range of fields. The relevance and significance of our research is evidenced by the Impact Case studies prepared for the Research Excellence Framework 2021 assessment. These studies exemplify our ability to engage in multidisciplinary research and address diverse societal challenges.
Economics of Decommissioning in the UK
Alex Kemp, Sola Kasim and Linda Stephen
Pioneering research by Professor Alex Kemp and colleagues Linda Stephen and Sola Kasim at the University of Aberdeen has analysed the economic aspects of decommissioning activity in the UK continental shelf (UKCS) and the related issues of change of use of oil assets and the prospects for carbon capture and storage. This work has been used by Government and industry to inform decision-making and financial planning to introduce financial security for decommissioning. In particular, the research has highlighted the potential size and timing of decommissioning including the sensitivity of the economic limit (COP date) to oil price behaviour and the implications of complex tax issues on the viability of the process.
Professor Kemp and his team's research also demonstrated how change of use of oil assets such as pipelines could make a major contribution to enhancing the possibility that CO2 carbon capture and storage could become economically viable. Kemp's research has informed recent initiatives made by oil company operators and the Oil and Gas Authority (OGA) and has provided key guidance relating to the cost advantages from the reuse of oil-related infrastructure facilities to meet Net Zero emissions goals.
Improving the transparency of housing markets in the UK and overseas
Rainer Schulz, Martin Wersing and Martin Hoesli
Housing markets require reliable and accessible information on price trends and market values to work efficiently. The University of Aberdeen Business School has conducted methodologically robust research on house price indices and automated valuation models (AVMs) that has examined how such indices and valuation models should be constructed and implemented to be accurate and timely in order to address the needs of end-users. Property owners and would-be owners, solicitors, developers, and local politicians are all interested in reliable and timely information on price trends, market sentiment, and estimates of market values of specific properties. The University of Aberdeen Business School has also been actively involved in the development and production of price indices and valuation models in Scotland, more widely Switzerland and Germany.
Increasing uptake of free eye examinations among Scotland's poorer citizens
Alexandros Zangelidis, Heather Dickey, Divine Ikenwilo, Patricia Norwood and Verity Watson
Research led by the University of Aberdeen Economics department on the 2006 Scottish eyecare reform has highlighted the role of socio-economic inequalities in limiting uptake of eye examinations in Scotland. Key policymakers, such as the Scottish Government, Optometry Scotland and Royal National Institute of Blind People (RNIB) Scotland, have now acknowledged the importance of addressing these disparities and are seeking to introduce an alternative strategy. The research underpinning this case study has (1) shaped the focus of current RNIB Scotland and Scottish Government awareness-raising campaigns, (2) influenced the methodologies and practices of the Public Health Scotland Data and Intelligence division in Scotland in the way eyecare data are reported, (3) led to the establishment of the Scottish Eyecare for Everyone (SEE) nationwide network for the advancement of eyecare in Scotland, and (4) informed discussions on the current and future funding of General Ophthalmic Services through the Scottish budget.
Taxation and Investment in the Maturing UK Continental Shelf
Alex Kemp, Sola Kasim and Linda Stephen
Research on North Sea oil tax, led by Professor Kemp at the University of Aberdeen (2005-2019), was instrumental in informing major reviews by the UK Treasury and underpinning key decisions made by both the Scottish and UK Governments regarding the UK Continental Shelf (UKCS), including introduction of Transferable Tax History (TTH) to support late life field asset transactions. Furthermore, Kemp's research underpinned acknowledgement by the Oil and Gas Authority (OGA) that the investment hurdles for the UKCS should take into account significant capital rationing and its impact on investment decisions in the UKCS.