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COVID-19 and the financial resilience of Finland’s seaports

Author

Listed:
  • Pekka Leviäkangas

    (University of Oulu)

  • Lauri Ojala

    (University of Turku)

  • Seong Mok Paik

    (University College Dublin)

  • Veikko Pekkala

    (University of Oulu)

Abstract

This research quantifies the impacts that COVID-19 had on the financial performance of Finnish seaports. The data comprises annual financial statement information from 18 seaports. The ports are different in terms of ownership, size, and main lines of business. Most ports’ turnover dropped because of COVID-19, and their profitability declined. However, the ports were able to maintain their financial position quite well despite their declining turnovers. Statistically significant impacts of COVID-19 were observable regarding turnover growth, profitability, labor intensity and capital intensity. Surprisingly, ports with mainly import traffic had the least negative impacts on turnover growth.

Suggested Citation

  • Pekka Leviäkangas & Lauri Ojala & Seong Mok Paik & Veikko Pekkala, 2023. "COVID-19 and the financial resilience of Finland’s seaports," Journal of Shipping and Trade, Springer, vol. 8(1), pages 1-20, December.
    • Handle: RePEc:spr:josatr:v:8:y:2023:i:1:d:10.1186_s41072-023-00158-5
    DOI: 10.1186/s41072-023-00158-5
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    References listed on IDEAS

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