Assessing the impact of oil prices on firms of different sizes: Its tough being in the middle

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Risk factors in oil and gas industry returns: International evidence (2011, methodology): “…we take advantage of more refined ways of measuring the nonlinear impact of oil price changes; most of the related studies use the traditional dummy variable approach; i.e., they differentiate positive from negative changes (e.g., Basher and Sadorsky, 2006; Nandha and Faff, 2008; Sadorsky, 2008).”
The Role of Macroeconomic Variables on Stock Market Index in China and India (2011, background): “In addition, Sadorsky (2008) showed that increases in firm size or oil prices reduce stock market price returns, and increases in oil prices have more impact on stock market returns than decreases in oil prices do.”
Oil Prices and Stock Markets: A Review of the Theory and Empirical Evidence (2018, methodology): “Sadorsky (2008) uses data from 1483 firms of the S&P1500 index and maintains that firm-level stock returns decline when oil prices increase, although these effects are more important for medium-sized firms, contrary to the small and large companies.”
Conditional correlations and volatility spillovers between crude oil and stock index returns (2010, unknown): “Sadorsky (2008) finds that the stock prices of small and large firms respond fairly symmetrically to changes in oil prices, but for medium-sized firms the response is asymmetric to changes in oil prices.”