IDEAS home Printed from https://ideas.repec.org/a/eee/transe/v115y2018icp164-212.html
   My bibliography  Save this article

A survey of shipping finance research: Setting the future research agenda

Author

Listed:
  • Alexandridis, George
  • Kavussanos, Manolis G.
  • Kim, Chi Y.
  • Tsouknidis, Dimitris A.
  • Visvikis, Ilias D.

Abstract

Financing shipping related investment projects has always been a focal area of debate and research within the international maritime industry since access to funding can determine the competitiveness of a capital-intensive business as well as its success or failure under adverse market conditions. This paper provides, for the first time, a comprehensive and structured survey of all published research in the area of shipping finance and investment. The review spans approximately four decades (1979–2018) of empirical evidence, including 162 studies published in 48 scholarly journals, complemented with select books and book chapters. The study provides a bibliometric analysis and comprehensive synthesis of existing research offering an invaluable source of information for both the academic community and business practice, shaping the future research agenda in shipping finance and investment.

Suggested Citation

  • Alexandridis, George & Kavussanos, Manolis G. & Kim, Chi Y. & Tsouknidis, Dimitris A. & Visvikis, Ilias D., 2018. "A survey of shipping finance research: Setting the future research agenda," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 115(C), pages 164-212.
  • Handle: RePEc:eee:transe:v:115:y:2018:i:c:p:164-212
    DOI: 10.1016/j.tre.2018.04.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1366554517311006
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Alizadeh, Amir H. & Nomikos, Nikos K., 2004. "Cost of carry, causality and arbitrage between oil futures and tanker freight markets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 40(4), pages 297-316, July.
    2. Mara Faccio & Ronald W. Masulis, 2005. "The Choice of Payment Method in European Mergers and Acquisitions," Journal of Finance, American Finance Association, vol. 60(3), pages 1345-1388, June.
    3. Kavussanos, Manolis G. & Tsouknidis, Dimitris A., 2016. "Default risk drivers in shipping bank loans," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 94(C), pages 71-94.
    4. Fama, Eugene F & French, Kenneth R, 1992. "The Cross-Section of Expected Stock Returns," Journal of Finance, American Finance Association, vol. 47(2), pages 427-465, June.
    5. Manolis G. Kavussanos & Stelios N. Marcoulis, 1998. "Beta comparisons across industries—a Water transportation industry perspective," Maritime Policy & Management, Taylor & Francis Journals, vol. 25(2), pages 175-184, January.
    6. Mitroussi, K. & Abouarghoub, W. & Haider, J.J. & Pettit, S.J. & Tigka, N., 2016. "Performance drivers of shipping loans: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 171(P3), pages 438-452.
    7. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    8. Manolis G. Kavussanos & Ilias D. Visvikis, 2010. "The Hedging Performance of the Capesize Forward Freight Market," Chapters, in: Kevin Cullinane (ed.),International Handbook of Maritime Business, chapter 16, Edward Elgar Publishing.
    9. Roberta Scarsi, 2007. "The bulk shipping business: market cycles and shipowners’ biases," Maritime Policy & Management, Taylor & Francis Journals, vol. 34(6), pages 577-590, December.
    10. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    11. HEAVER, T. & MEERSMAN, Hilde & MOGLIA, F. & VAN DE VOORDE ,Eddy, "undated". "Do mergers and alliances influence European shipping and port competition?," Working Papers 2000001, University of Antwerp, Faculty of Business and Economics.
    12. Shun Chen & Hilde Meersman & Eddy van de Voorde, 2010. "Dynamic interrelationships in returns and volatilities between Capesize and Panamax markets," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 12(1), pages 65-90, March.
    13. Marcel Prokopczuk, 2011. "Pricing and hedging in the freight futures market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 31(5), pages 440-464, May.
    14. Grammenos, Costas Th. & Arkoulis, Angelos G., 2003. "Determinants of spreads on new high yield bonds of shipping companies," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 39(6), pages 459-471, November.
    15. Roar Adland & Haiying Jia & Siri Strandenes, 2006. "Asset Bubbles in Shipping? An Analysis of Recent History in the Drybulk Market," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 8(3), pages 223-233, September.
    16. G. Alexandridis & D. Petmezas & N.G. Travlos, 2010. "Gains from Mergers and Acquisitions Around the World: New Evidence," Financial Management, Financial Management Association International, vol. 39(4), pages 1671-1695, December.
    17. Wolfgang Drobetz & Dirk Schilling & Lars Tegtmeier, 2010. "Common risk factors in the returns of shipping stocks," Maritime Policy & Management, Taylor & Francis Journals, vol. 37(2), pages 93-120, March.
    18. Andreas G. Merikas & Anna A. Merika & George Koutroubousis, 2008. "Modelling the investment decision of the entrepreneur in the tanker sector: choosing between a second-hand vessel and a newly built one," Maritime Policy & Management, Taylor & Francis Journals, vol. 35(5), pages 433-447, October.
    19. C TH Grammenos & A Arkoulis, 1999. "The Long Run Performance of Shipping Initial Public Offerings," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 1(1), pages 71-93, September.
    20. Fan, Joseph P.H. & Wong, T.J. & Zhang, Tianyu, 2007. "Politically connected CEOs, corporate governance, and Post-IPO performance of China's newly partially privatized firms," Journal of Financial Economics, Elsevier, vol. 84(2), pages 330-357, May.
    21. Manolis G. Kavussanos & Stelios N. Marcoulis, 1997. "Risk and return of U.S. water transportation stocks over time and over bull and bear market conditions," Maritime Policy & Management, Taylor & Francis Journals, vol. 24(2), pages 145-158, January.
    22. Ross, Stephen A., 1976. "The arbitrage theory of capital asset pricing," Journal of Economic Theory, Elsevier, vol. 13(3), pages 341-360, December.
    23. Jean-Paul Rodrigue & Theo Notteboom & Athanasios A. Pallis, 2010. "The financialization of the port and terminal industry: revisiting risk and embeddedness," Maritime Policy & Management, Taylor & Francis Journals, vol. 38(2), pages 191-213, November.
    24. Ludovic Phalippou & Oliver Gottschalg, 2009. "The Performance of Private Equity Funds," Review of Financial Studies, Society for Financial Studies, vol. 22(4), pages 1747-1776, April.
    25. Panayides, Photis M. & Lambertides, Neophytos & Cullinane, Kevin, 2013. "Liquidity risk premium and asset pricing in US water transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 3-15.
    26. Axarloglou, Kostas & Visvikis, Ilias & Zarkos, Stefanos, 2013. "The time dimension and value of flexibility in resource allocation: The case of the maritime industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 35-48.
    27. Aristeidis Samitas & Ioannis Tsakalos, 2010. "Hedging effectiveness in shipping industry during financial crises," International Journal of Financial Markets and Derivatives, Inderscience Enterprises Ltd, vol. 1(2), pages 196-212.
    28. repec:hrv:faseco:30728046 is not listed on IDEAS
    29. Andreou, Panayiotis C. & Louca, Christodoulos & Panayides, Photis M., 2014. "Corporate governance, financial management decisions and firm performance: Evidence from the maritime industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 63(C), pages 59-78.
    30. Robin Greenwood & Samuel G. Hanson, 2015. "Waves in Ship Prices and Investment," The Quarterly Journal of Economics, Oxford University Press, vol. 130(1), pages 55-109.
    31. Anderson, Ronald C. & Mansi, Sattar A. & Reeb, David M., 2003. "Founding family ownership and the agency cost of debt," Journal of Financial Economics, Elsevier, vol. 68(2), pages 263-285, May.
    32. Grammenos, Costas Th. & Alizadeh, Amir H. & Papapostolou, Nikos C., 2007. "Factors affecting the dynamics of yield premia on shipping seasoned high yield bonds," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(5), pages 549-564, September.
    33. Tsionas, Mike G. & Merikas, Andreas G. & Merika, Anna A., 2012. "Concentrated ownership and corporate performance revisited: The case of shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(4), pages 843-852.
    34. Guenther, David A. & Rosman, Andrew J., 1994. "Differences between COMPUSTAT and CRSP SIC codes and related effects on research," Journal of Accounting and Economics, Elsevier, vol. 18(1), pages 115-128, July.
    35. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    36. Photis M Panayides & Xihe Gong, 2002. "The Stock Market Reaction to Merger and Acquisition Announcements in Liner Shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 4(1), pages 55-80, March.
    37. George Dikos & Dimitrios Thomakos, 2012. "Econometric testing of the real option hypothesis: evidence from investment in oil tankers," Empirical Economics, Springer, vol. 42(1), pages 121-145, February.
    38. Amir H. Alizadeh & Roar Os Ådland & Steen Koekebakker, 2007. "Predictive power and unbiasedness of implied forward charter rates," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 26(6), pages 385-403.
    39. Jimenez, Gabriel & Saurina, Jesus, 2004. "Collateral, type of lender and relationship banking as determinants of credit risk," Journal of Banking & Finance, Elsevier, vol. 28(9), pages 2191-2212, September.
    40. Jingbo Yin & Meifeng Luo & Lixian Fan, 2017. "Dynamics and interactions between spot and forward freights in the dry bulk shipping market," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(2), pages 271-288, February.
    41. Nikos C. Papapostolou & Nikos K. Nomikos & Panos K. Pouliasis & Ioannis Kyriakou, 2014. "Investor Sentiment for Real Assets: The Case of Dry Bulk Shipping Market," Review of Finance, European Finance Association, vol. 18(4), pages 1507-1539.
    42. Faccio, Mara & McConnell, John J. & Stolin, David, 2006. "Returns to Acquirers of Listed and Unlisted Targets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 41(1), pages 197-220, March.
    43. Andreou, Panayiotis C. & Louca, Christodoulos & Panayides, Photis M., 2012. "Valuation effects of mergers and acquisitions in freight transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(6), pages 1221-1234.
    44. Bonfim, Diana, 2009. "Credit risk drivers: Evaluating the contribution of firm level information and of macroeconomic dynamics," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 281-299, February.
    45. Steven N. Kaplan & Antoinette Schoar, 2005. "Private Equity Performance: Returns, Persistence, and Capital Flows," Journal of Finance, American Finance Association, vol. 60(4), pages 1791-1823, August.
    46. Roar Ådland & Haiying Jia & Steen Koekebakker, 2004. "The Pricing of Forward Ship Value Agreements and the Unbiasedness of Implied Forward Prices in the Second-Hand Market for Ships," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 6(2), pages 109-121, June.
    47. Nomikos, Nikos K. & Kyriakou, Ioannis & Papapostolou, Nikos C. & Pouliasis, Panos K., 2013. "Freight options: Price modelling and empirical analysis," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 51(C), pages 82-94.
    48. Jane Jing Xu & Tsz Leung Yip, 2012. "Ship investment at a standstill? An analysis of shipbuilding activities and policies," Applied Economics Letters, Taylor & Francis Journals, vol. 19(3), pages 269-275, February.
    49. Mitchell A. Petersen, 2009. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 435-480, January.
    50. Satta, Giovanni & Notteboom, Theo & Parola, Francesco & Persico, Luca, 2017. "Determinants of the long-term performance of initial public offerings (IPOs) in the port industry," Transportation Research Part A: Policy and Practice, Elsevier, vol. 103(C), pages 135-153.
    51. Edward McLaney & John Pointon & Melanie Thomas & Jon Tucker, 2004. "Practitioners' perspectives on the UK cost of capital," The European Journal of Finance, Taylor & Francis Journals, vol. 10(2), pages 123-138.
    52. Koichiro Tezuka & Masahiro Ishii & Motokazu Ishizaka, 2012. "Relationship between CAPM- β and market changes in the Japanese liner shipping industry," Maritime Policy & Management, Taylor & Francis Journals, vol. 39(3), pages 297-319, May.
    53. Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," NBER Working Papers 8805, National Bureau of Economic Research, Inc.
    54. Photis M Panayides, 2006. "Maritime Logistics and Global Supply Chains: Towards a Research Agenda," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 8(1), pages 3-18, March.
    55. Merika, Anna & Theodoropoulou, Sotiria & Triantafyllou, Anna & Laios, Alexandros, 2015. "The relationship between business cycles and capital structure choice: The case of the international shipping industry," The Journal of Economic Asymmetries, Elsevier, vol. 12(2), pages 92-99.
    56. Renneboog, Luc & Simons, Tomas & Wright, Mike, 2007. "Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 591-628, September.
    57. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    58. Wolfgang Drobetz & Lars Tegtmeier, 2013. "The development of a performance index for KG funds and a comparison with other shipping-related indices," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 15(1), pages 32-71, March.
    59. Alizadeh, Amir H. & Talley, Wayne K., 2011. "Vessel and voyage determinants of tanker freight rates and contract times," Transport Policy, Elsevier, vol. 18(5), pages 665-675, September.
    60. McBain, Michael L. & Krause, David S., 1989. "Going public: The impact of insiders' holdings on the price of initial public offerings," Journal of Business Venturing, Elsevier, vol. 4(6), pages 419-428, November.
    61. Theodore Syriopoulos & Michael Tsatsaronis, 2011. "The corporate governance model of the shipping firms: financial performance implications," Maritime Policy & Management, Taylor & Francis Journals, vol. 38(6), pages 585-604, January.
    62. Wolfgang Drobetz & Tim Richter & Martin Wambach, 2012. "Dynamics of time-varying volatility in the dry bulk and tanker freight markets," Applied Financial Economics, Taylor & Francis Journals, vol. 22(16), pages 1367-1384, August.
    63. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    64. Chun Chang & Guanmin Liao & Xiaoyun Yu & Zheng Ni, 2014. "Information from Relationship Lending: Evidence from Loan Defaults in China," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(6), pages 1225-1257, September.
    65. Andreas Merikas & Dimitrios Gounopoulos & Christos Nounis, 2009. "Global shipping IPOs performance," Maritime Policy & Management, Taylor & Francis Journals, vol. 36(6), pages 481-505, December.
    66. Manolis Kavussanos & Nikos Nomikos, 2003. "Price Discovery, Causality and Forecasting in the Freight Futures Market," Review of Derivatives Research, Springer, vol. 6(3), pages 203-230, October.
    67. Stephen X. Gong & Heng-Qing Ye & Yvonne Yiyi Zeng, 2013. "Impacts of the recent financial crisis on ship financing in Hong Kong: a research note," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(1), pages 1-9, January.
    68. Helen B Bendall & Alan F Stent, 2005. "Ship Investment under Uncertainty: Valuing a Real Option on the Maximum of Several Strategies," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 7(1), pages 19-35, March.
    69. Manolis G. Kavussanos & Nikos K. Nomikos, 2000. "Futures hedging when the structure of the underlying asset changes: The case of the BIFFEX contract," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 20(8), pages 775-801, September.
    70. Su-Han Woo & Stephen Pettit & Anthony Beresford & Dong-Wook Kwak, 2012. "Seaport Research: A Decadal Analysis of Trends and Themes Since the 1980s," Transport Reviews, Taylor & Francis Journals, vol. 32(3), pages 351-377, January.
    71. Amir H. Alizadeh & Nikos Nomikos, 2011. "An Investigation into the Effect of Risk Management on the Profitability of Shipping Investment and Operations," Chapters, in: Kevin Cullinane (ed.),International Handbook of Maritime Economics, chapter 7, Edward Elgar Publishing.
    72. Alizadeh, Amir H., 2013. "Trading volume and volatility in the shipping forward freight market," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 49(1), pages 250-265.
    73. Graham, John R. & Harvey, Campbell R., 2001. "The theory and practice of corporate finance: evidence from the field," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 187-243, May.
    74. Michael Gort, 1969. "An Economic Disturbance Theory of Mergers," The Quarterly Journal of Economics, Oxford University Press, vol. 83(4), pages 624-642.
    75. Koekebakker, Steen & Adland, Roar & Sødal, Sigbjørn, 2007. "Pricing freight rate options," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 43(5), pages 535-548, September.
    76. Helen Bendall & Alan F. Stent, 2003. "Investment strategies in market uncertainty," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(4), pages 293-303, October.
    77. Chava, Sudheer & Purnanandam, Amiyatosh, 2011. "The effect of banking crisis on bank-dependent borrowers," Journal of Financial Economics, Elsevier, vol. 99(1), pages 116-135, January.
    78. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    79. John Dinwoodie & Jeffrey Morris, 2003. "Tanker forward freight agreements: the future for freight futures?," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(1), pages 45-58, January.
    80. Hyo-Won Kang & Grace W Y Wang & Hee-Seok Bang & Su-Han Woo, 2016. "Economic performance and corporate financial management of shipping firms," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 18(3), pages 317-330, September.
    81. Manolis G. Kavussanos & Nikos K. Nomikos, 1999. "The forward pricing function of the shipping freight futures market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 19(3), pages 353-376, May.
    82. Thomas P. Mayr & Michael N. Tamvakis, 1999. "The dynamic relationships between paper petroleum refining and physical trade of crude oil into the United States," Maritime Policy & Management, Taylor & Francis Journals, vol. 26(2), pages 127-136, April.
    83. Drobetz, Wolfgang & Gounopoulos, Dimitrios & Merikas, Andreas & Schröder, Henning, 2013. "Capital structure decisions of globally-listed shipping companies," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 49-76.
    84. Timotheos Angelidis & George Skiadopoulos, 2008. "Measuring The Market Risk Of Freight Rates: A Value-At-Risk Approach," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 11(05), pages 447-469.
    85. Cullinane, Kevin, 1995. "A portfolio analysis of market investments in dry bulk shipping," Transportation Research Part B: Methodological, Elsevier, vol. 29(3), pages 181-200, June.
    86. Kavussanos, Manolis G. & Marcoulis, Stelios N., 1997. "The stock market perception of industry risk and microeconomic factors: The case of the US water transportation industry versus other transport industries," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 33(2), pages 147-158, June.
    87. Rau, Philipp & Spinler, Stefan, 2016. "Investment into container shipping capacity: A real options approach in oligopolistic competition," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 93(C), pages 130-147.
    88. Alexandridis, G. & Sahoo, S. & Visvikis, I., 2017. "Economic information transmissions and liquidity between shipping markets: New evidence from freight derivatives," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 98(C), pages 82-104.
    89. Manolis G Kavussanos & Stelios N Marcoulis, 2000. "The Stock Market Perception of Industry Risk and Macroeconomic Factors: The Case of the US Water and Other Transportation Stocks," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 2(3), pages 235-256, September.
    90. John R. Graham & Mark T. Leary, 2011. "A Review of Empirical Capital Structure Research and Directions for the Future," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 309-345, December.
    91. Kavussanos, Manolis G. & Visvikis, Ilias D. & Batchelor, Roy A., 2004. "Over-the-counter forward contracts and spot price volatility in shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 40(4), pages 273-296, July.
    92. Evangelos-Pavlos Rousos & Byung S. Lee, 2012. "Multicriteria analysis in shipping investment evaluation," Maritime Policy & Management, Taylor & Francis Journals, vol. 39(4), pages 423-442, July.
    93. Dietrich, J. Kimball & Sorensen, Eric, 1984. "An application of logit analysis to prediction of merger targets," Journal of Business Research, Elsevier, vol. 12(3), pages 393-402, September.
    94. Syriopoulos, Theodore C., 2007. "Chapter 6 Financing Greek Shipping: Modern Instruments, Methods and Markets," Research in Transportation Economics, Elsevier, vol. 21(1), pages 171-219, January.
    95. Alizadeh, Amir H. & Nomikos, Nikos K., 2007. "Investment timing and trading strategies in the sale and purchase market for ships," Transportation Research Part B: Methodological, Elsevier, vol. 41(1), pages 126-143, January.
    96. Trond RandØy & Jon Down & Janinge Jenssen, 2003. "Corporate Governance and Board Effectiveness in Maritime Firms," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 5(1), pages 40-54, March.
    97. Merton, Robert C, 1973. "An Intertemporal Capital Asset Pricing Model," Econometrica, Econometric Society, vol. 41(5), pages 867-887, September.
    98. Batchelor, Roy & Alizadeh, Amir & Visvikis, Ilias, 2007. "Forecasting spot and forward prices in the international freight market," International Journal of Forecasting, Elsevier, vol. 23(1), pages 101-114.
    99. Miller, Edward M, 1977. "Risk, Uncertainty, and Divergence of Opinion," Journal of Finance, American Finance Association, vol. 32(4), pages 1151-1168, September.
    100. Andre Kuster Simic & Philipp Lauenstein & Stefan Prigge, 2016. "Valuation Efficiency of Secondary Markets for Formerly Illiquid Assets: The Case of German KG Ship Funds," Multinational Finance Journal, Multinational Finance Journal, vol. 20(2), pages 127-179, June.
    101. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    102. John Graham & Campbell Harvey, 2002. "HOW DO CFOs MAKE CAPITAL BUDGETING AND CAPITAL STRUCTURE DECISIONS?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 15(1), pages 8-23, March.
    103. Andriosopoulos, Kostas & Doumpos, Michael & Papapostolou, Nikos C. & Pouliasis, Panos K., 2013. "Portfolio optimization and index tracking for the shipping stock and freight markets using evolutionary algorithms," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 16-34.
    104. Loughran, Tim & Ritter, Jay R, 1995. "The New Issues Puzzle," Journal of Finance, American Finance Association, vol. 50(1), pages 23-51, March.
    105. Roar Adland & Haiying Jia, 2017. "Simulating physical basis risks in the Capesize freight market," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 19(2), pages 196-210, June.
    106. Roar Adland & David Hansson & Levin von der Wense, 2017. "Valuing cargo flexibility in oil transportation," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 803-814, October.
    107. Kavussanos, Manolis G. & Dimitrakopoulos, Dimitris N., 2011. "Market risk model selection and medium-term risk with limited data: Application to ocean tanker freight markets," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 258-268.
    108. João A. C. Santos, 2011. "Bank Corporate Loan Pricing Following the Subprime Crisis," Review of Financial Studies, Society for Financial Studies, vol. 24(6), pages 1916-1943.
    109. Amir Alizadeh & Manolis Kavussanos & David Menachof, 2004. "Hedging against bunker price fluctuations using petroleum futures contracts: constant versus time-varying hedge ratios," Applied Economics, Taylor & Francis Journals, vol. 36(12), pages 1337-1353.
    110. Stefan Albertijn & Wolfgang Bessler & Wolfgang Drobetz, 2011. "Financing Shipping Companies and Shipping Operations: A Risk‐Management Perspective," Journal of Applied Corporate Finance, Morgan Stanley, vol. 23(4), pages 70-82, December.
    111. Manolis G. Kavussanos & Ilias D. Visvikis (ed.), 2016. "The International Handbook of Shipping Finance," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-137-46546-7.
    112. Michael S. Haigh & Matthew T. Holt, 2002. "Hedging foreign currency, freight, and commodity futures portfolios—A note," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 22(12), pages 1205-1221, December.
    113. Ahrends, Meike & Drobetz, Wolfgang & Nomikos, Nikos K., 2018. "Corporate cash holdings in the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 112(C), pages 107-124.
    114. Yui-yip Lau & César Ducruet & Adolf K. Y. Ng & Xiaowen Fu, 2017. "Across the waves: a bibliometric analysis of container shipping research since the 1960s," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(6), pages 667-684, August.
    115. Theodore Syriopoulos & Ioannis Theotokas, 2007. "Value creation through corporate destruction? Corporate governance in shipping takeovers," Maritime Policy & Management, Taylor & Francis Journals, vol. 34(3), pages 225-242, June.
    116. Peter Løchte Jørgensen & Domenico De Giovanni, 2010. "Time Charters with Purchase Options in Shipping: Valuation and Risk Management," Applied Mathematical Finance, Taylor & Francis Journals, vol. 17(5), pages 399-430.
    117. Theodore Syriopoulos & Michael Tsatsaronis, 2012. "Corporate Governance Mechanisms and Financial Performance: CEO Duality in Shipping Firms," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 2(1), pages 1-30, June.
    118. Amihud, Yakov, 2002. "Illiquidity and stock returns: cross-section and time-series effects," Journal of Financial Markets, Elsevier, vol. 5(1), pages 31-56, January.
    119. Custódio, Cláudia & Ferreira, Miguel A. & Matos, Pedro, 2013. "Generalists versus specialists: Lifetime work experience and chief executive officer pay," Journal of Financial Economics, Elsevier, vol. 108(2), pages 471-492.
    120. Manolis G. Kavussanos & Ilias D. Visvikis, 2006. "Shipping freight derivatives: a survey of recent evidence," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(3), pages 233-255, July.
    121. Steen Koekebakker * & Roar Os Ådland, 2004. "Modelling forward freight rate dynamics—empirical evidence from time charter rates," Maritime Policy & Management, Taylor & Francis Journals, vol. 31(4), pages 319-335, October.
    122. Manolis Kavussanos, 1997. "The dynamics of time-varying volatilities in different size second-hand ship prices of the dry-cargo sector," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 433-443.
    123. Floriano C. M. Pires & Luis F. Assis & Cassiano M. Souza, 2005. "An analysis of the Brazilian ship financing system," Maritime Policy & Management, Taylor & Francis Journals, vol. 32(3), pages 209-226, July.
    124. Dick-Nielsen, Jens & Feldhütter, Peter & Lando, David, 2012. "Corporate bond liquidity before and after the onset of the subprime crisis," Journal of Financial Economics, Elsevier, vol. 103(3), pages 471-492.
    125. Saeyoung Chang, 1998. "Takeovers of Privately Held Targets, Methods of Payment, and Bidder Returns," Journal of Finance, American Finance Association, vol. 53(2), pages 773-784, April.
    126. Helwege, Jean & Huang, Jing-Zhi & Wang, Yuan, 2014. "Liquidity effects in corporate bond spreads," Journal of Banking & Finance, Elsevier, vol. 45(C), pages 105-116.
    127. Friewald, Nils & Jankowitsch, Rainer & Subrahmanyam, Marti G., 2012. "Illiquidity or credit deterioration: A study of liquidity in the US corporate bond market during financial crises," Journal of Financial Economics, Elsevier, vol. 105(1), pages 18-36.
    128. William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, September.
    129. Malcolm Baker & Jeffrey Wurgler, 2002. "Market Timing and Capital Structure," Journal of Finance, American Finance Association, vol. 57(1), pages 1-32, February.
    130. Drobetz, Wolfgang & Haller, Rebekka & Meier, Iwan, 2016. "Cash flow sensitivities during normal and crisis times: Evidence from shipping," Transportation Research Part A: Policy and Practice, Elsevier, vol. 90(C), pages 26-49.
    131. Kraus, Alan & Litzenberger, Robert H, 1973. "A State-Preference Model of Optimal Financial Leverage," Journal of Finance, American Finance Association, vol. 28(4), pages 911-922, September.
    132. Michael S. Haigh, 2000. "Cointegration, unbiased expectations, and forecasting in the BIFFEX freight futures market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 20(6), pages 545-571, July.
    133. Agata Lozinskaia & Andreas Merikas & Anna Merika & Henry Penikas, 2017. "Determinants of the probability of default: the case of the internationally listed shipping corporations," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(7), pages 837-858, October.
    134. Papapostolou, Nikos C. & Pouliasis, Panos K. & Kyriakou, Ioannis, 2017. "Herd behavior in the drybulk market: an empirical analysis of the decision to invest in new and retire existing fleet capacity," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 104(C), pages 36-51.
    135. Drobetz, Wolfgang & Menzel, Christina & Schröder, Henning, 2016. "Systematic risk behavior in cyclical industries: The case of shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 88(C), pages 129-145.
    136. Lee, Chung-Yee & Song, Dong-Ping, 2017. "Ocean container transport in global supply chains: Overview and research opportunities," Transportation Research Part B: Methodological, Elsevier, vol. 95(C), pages 442-474.
    137. Theotokas, Ioannis, 2007. "Chapter 3 On Top of World Shipping: Greek Shipping Companies' Organization and Management," Research in Transportation Economics, Elsevier, vol. 21(1), pages 63-93, January.
    138. Shiyuan Zheng & Rudy R. Negenborn, 2017. "Terminal investment timing decisions in a competitive setting with uncertainty using a real option approach," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(3), pages 392-411, April.
    139. Roar Adland & Haiying Jia, 2015. "Shipping market integration: The case of sticky newbuilding prices," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 17(4), pages 389-398, December.
    140. Manolis Kavussanos & Ilias Visvikis & Dimitris Dimitrakopoulos, 2010. "Information linkages between Panamax freight derivatives and commodity derivatives markets," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 12(1), pages 91-110, March.
    141. Alexandridis, George & Sahoo, Satya & Song, Dong-Wook & Visvikis, Ilias, 2018. "Shipping risk management practice revisited: A new portfolio approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 110(C), pages 274-290.
    142. Helen B. Bendall & Alan F. Stent, 2007. "Maritime investment strategies with a portfolio of real options," Maritime Policy & Management, Taylor & Francis Journals, vol. 34(5), pages 441-452, October.
    143. Aristeidis G. Samitas & Dimitris F. Kenourgios, 2007. "Impact of mergers and acquisitions on stock returns of tramp shipping firms," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 2(4), pages 327-343.
    144. Grammenos, C.Th. & Nomikos, N.K. & Papapostolou, N.C., 2008. "Estimating the probability of default for shipping high yield bond issues," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 44(6), pages 1123-1138, November.
    145. Myrto Kalouptsidi, 2014. "Time to Build and Fluctuations in Bulk Shipping," American Economic Review, American Economic Association, vol. 104(2), pages 564-608, February.
    146. Kavussanos, Manolis G. & Alizadeh-M, Amir H., 2001. "Seasonality patterns in dry bulk shipping spot and time charter freight rates," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 37(6), pages 443-467, December.
    147. Andreas Merikas & Dimitrios Gounopoulos & Chrysoula Karli, 2010. "Market performance of US-listed Shipping IPOs," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 12(1), pages 36-64, March.
    148. K P B Cullinane & K J Mason & M Cape, 1999. "A Comparison of Models for Forecasting the Baltic Freight Index: Box-Jenkins Revisited," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 1(2), pages 15-39, December.
    149. Long Chen & David A. Lesmond & Jason Wei, 2007. "Corporate Yield Spreads and Bond Liquidity," Journal of Finance, American Finance Association, vol. 62(1), pages 119-149, February.
    150. Alexandros M. Goulielmos & Mariniki Psifia, 2006. "Shipping finance: time to follow a new track?," Maritime Policy & Management, Taylor & Francis Journals, vol. 33(3), pages 301-320, July.
    151. Robert L. Conn & Andy Cosh & Paul M. Guest & Alan Hughes, 2005. "The Impact on UK Acquirers of Domestic, Cross-border, Public and Private Acquisitions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(5-6), pages 815-870.
    152. Woo, Su-Han & Pettit, Stephen J. & Kwak, Dong-Wook & Beresford, Anthony K.C., 2011. "Seaport research: A structured literature review on methodological issues since the 1980s," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(7), pages 667-685, August.
    153. Kevin Cullinane & Photis M Panayides, 2000. "The Use of Capital Budgeting Techniques among UK-based Ship Operators," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 2(4), pages 313-330, December.
    154. Roll, Richard, 1984. "A Simple Implicit Measure of the Effective Bid-Ask Spread in an Efficient Market," Journal of Finance, American Finance Association, vol. 39(4), pages 1127-1139, September.
    155. Giovanni Satta, 2017. "Initial public offerings in the port industry: exploring the determinants of underpricing," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(8), pages 1012-1033, November.
    156. Grammenos, Costas Th. & Papapostolou, Nikos C., 2012. "US shipping initial public offerings: Do prospectus and market information matter?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(1), pages 276-295.
    157. Yui-Yip Lau & Adolf K. Y. Ng & Xiaowen Fu & Kevin X. Li, 2013. "Evolution and research trends of container shipping," Maritime Policy & Management, Taylor & Francis Journals, vol. 40(7), pages 654-674, December.
    158. Jostein Tvedt, 1998. "Valuation of a European futures option in the BIFFEX market," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 18(2), pages 167-175, April.
    159. Michael L. Lemmon & Michael R. Roberts & Jaime F. Zender, 2008. "Back to the Beginning: Persistence and the Cross‐Section of Corporate Capital Structure," Journal of Finance, American Finance Association, vol. 63(4), pages 1575-1608, August.
    160. Sødal, Sigbjørn & Koekebakker, Steen & Aadland, Roar, 2008. "Market switching in shipping -- A real option model applied to the valuation of combination carriers," Review of Financial Economics, Elsevier, vol. 17(3), pages 183-203, August.
    161. Kevin Cullinane & Xihe Gong, 2002. "The mispricing of transportation initial public offerings in the Chinese mainland and Hong Kong," Maritime Policy & Management, Taylor & Francis Journals, vol. 29(2), pages 107-118, April.
    162. Goulas, Lambros & Skiadopoulos, George, 2012. "Are freight futures markets efficient? Evidence from IMAREX," International Journal of Forecasting, Elsevier, vol. 28(3), pages 644-659.
    163. Roar Adland & Steen Koekebakker, 2007. "Ship Valuation Using Cross-Sectional Sales Data: A Multivariate Non-Parametric Approach," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 9(2), pages 105-118, June.
    164. Mike Fusillo, 2009. "Structural Factors Underlying Mergers and Acquisitions in Liner Shipping," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 11(2), pages 209-226, June.
    165. Kavussanos, Manolis G. & Visvikis, Ilias D., 2004. "Market interactions in returns and volatilities between spot and forward shipping freight markets," Journal of Banking & Finance, Elsevier, vol. 28(8), pages 2015-2049, August.
    166. Manolis G Kavussanos, 2003. "Time Varying Risks Among Segments of the Tanker Freight Markets," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 5(3), pages 227-250, September.
    167. Amir Alizadeh & Wayne Talley, 2011. "Microeconomic determinants of dry bulk shipping freight rates and contract times," Transportation, Springer, vol. 38(3), pages 561-579, May.
    168. Wenming Shi & Kevin X. Li, 2017. "Themes and tools of maritime transport research during 2000-2014," Maritime Policy & Management, Taylor & Francis Journals, vol. 44(2), pages 151-169, February.
    169. Alexandrou, George & Gounopoulos, Dimitrios & Thomas, Hardy M., 2014. "Mergers and acquisitions in shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 61(C), pages 212-234.
    170. Alizadeh, Amir H. & Thanopoulou, Helen & Yip, Tsz Leung, 2017. "Investors’ behavior and dynamics of ship prices: A heterogeneous agent model," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 106(C), pages 98-114.
    171. Heaver, T. & Meersman, H. & Moglia, F. & van de Voorde, E., 2000. "Do Mergers and Alliances Influence European Shipping and Port Competition?," Research Papers 24175, University of Antwerp, Faculty of Applied Economic Sciences.
    172. Aror O S Ådland & Steen Koekebakker, 2004. "Market Efficiency in the Second-hand Market for Bulk Ships," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 6(1), pages 1-15, March.
    173. Manolis G. Kavussanos & Arne Juell-Skielse & Matthew Forrest, 2003. "International comparison of market risks across shipping-related industries," Maritime Policy & Management, Taylor & Francis Journals, vol. 30(2), pages 107-122, January.
    174. Jay R. Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," Journal of Finance, American Finance Association, vol. 57(4), pages 1795-1828, August.
    175. Tsouknidis, Dimitris A., 2016. "Dynamic volatility spillovers across shipping freight markets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 91(C), pages 90-111.
    176. Xiaoyu Wang & Chee-Chong Teo, 2013. "Integrated hedging and network planning for container shipping's bunker fuel management," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 15(2), pages 172-196, June.
    177. Alizadeh, Amir H. & Huang, Chih-Yueh & van Dellen, Stefan, 2015. "A regime switching approach for hedging tanker shipping freight rates," Energy Economics, Elsevier, vol. 49(C), pages 44-59.
    178. Athanasios A. Pallis & Thomas K. Vitsounis & Peter W. De Langen, 2009. "Port Economics, Policy and Management: Review of an Emerging Research Field," Transport Reviews, Taylor & Francis Journals, vol. 30(1), pages 115-161, February.
    179. John, Kose & Senbet, Lemma W., 1998. "Corporate governance and board effectiveness1," Journal of Banking & Finance, Elsevier, vol. 22(4), pages 371-403, May.
    180. Kevin X. Li & Guanqiu Qi & Wenming Shi & Zhongzhi Yang & Hee-Seok Bang & Su-Han Woo & Tsz Leung Yip, 2014. "Spillover effects and dynamic correlations between spot and forward tanker freight markets," Maritime Policy & Management, Taylor & Francis Journals, vol. 41(7), pages 683-696, December.
    181. Nomikos, Nikos K. & Doctor, Kaizad, 2013. "Economic significance of market timing rules in the Forward Freight Agreement markets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 52(C), pages 77-93.
    182. Black, Fischer, 1972. "Capital Market Equilibrium with Restricted Borrowing," The Journal of Business, University of Chicago Press, vol. 45(3), pages 444-455, July.
    183. DeAngelo, Harry & DeAngelo, Linda, 1985. "Managerial ownership of voting rights : A study of public corporations with dual classes of common stock," Journal of Financial Economics, Elsevier, vol. 14(1), pages 33-69, March.
    184. Kavussanos, Manolis G. & Tsouknidis, Dimitris A., 2014. "The determinants of credit spreads changes in global shipping bonds," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 70(C), pages 55-75.
    185. Kavussanos, Manolis G. & Nomikos, Nikos K., 2000. "Constant vs. time-varying hedge ratios and hedging efficiency in the BIFFEX market," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 36(4), pages 229-248, December.
    186. Manolis Kavussanos & Ilias Visvikis & David Menachof, 2005. "The Unbiasedness Hypothesis in the Freight Forward Market: Evidence from Cointegration Tests," Review of Derivatives Research, Springer, vol. 7(3), pages 241-266, October.
    187. Jiao Zhang & Qingcheng Zeng & Xiaofeng Zhao, 2014. "Forecasting spot freight rates based on forward freight agreement and time charter contract," Applied Economics, Taylor & Francis Journals, vol. 46(29), pages 3639-3648, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sun, Xiaolei & Liu, Chang & Wang, Jun & Li, Jianping, 2020. "Assessing the extreme risk spillovers of international commodities on maritime markets: A GARCH-Copula-CoVaR approach," International Review of Financial Analysis, Elsevier, vol. 68(C).
    2. Alexandridis, George & Antypas, Nikolaos & Gulnur, Arman & Visvikis, Ilias, 2020. "Corporate financial leverage and M&As choices: Evidence from the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 133(C).
    3. Pouliasis, Panos K. & Papapostolou, Nikos C. & Kyriakou, Ioannis & Visvikis, Ilias D., 2018. "Shipping equity risk behavior and portfolio management," Transportation Research Part A: Policy and Practice, Elsevier, vol. 116(C), pages 178-200.
    4. Sun, Xiaolin & Haralambides, Hercules & Liu, Hailong, 2019. "Dynamic spillover effects among derivative markets in tanker shipping," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 122(C), pages 384-409.
    5. Gavriilidis, Konstantinos & Kambouroudis, Dimos S. & Tsakou, Katerina & Tsouknidis, Dimitris A., 2018. "Volatility forecasting across tanker freight rates: The role of oil price shocks," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 118(C), pages 376-391.
    6. Drobetz, Wolfgang & Janzen, Malte & Requejo, Ignacio, 2019. "Capital allocation and ownership concentration in the shipping industry," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 122(C), pages 78-99.
    7. Zhang, X. & Chen, M.Y. & Wang, M.G. & Ge, Y.E. & Stanley, H.E., 2019. "A novel hybrid approach to Baltic Dry Index forecasting based on a combined dynamic fluctuation network and artificial intelligence method," Applied Mathematics and Computation, Elsevier, vol. 361(C), pages 499-516.
    8. Luo, Suyuan & Lin, Xudong & Zheng, Zunxin, 2019. "A novel CNN-DDPG based AI-trader: Performance and roles in business operations," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 131(C), pages 68-79.
    9. Panayiotis Theodossiou & Dimitris Tsouknidis & Christos Savva, 2020. "Freight rates in downside and upside markets: pricing of own and spillover risks from other shipping segments," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 183(3), pages 1097-1119, June.

    More about this item

    Keywords

    Survey analysis; Shipping finance and investment; Transportation finance; Company valuation; Corporate governance;

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:transe:v:115:y:2018:i:c:p:164-212. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Haili He). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600244/description#description .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.