Economic performance and corporate financial management of shipping firms
In an increasingly competitive environment, the importance of the economic performance of the maritime sector has been emphasized in the research of the past two decades. Recently, shipping firms have increasingly entered stock markets as an alternative source of finance, avoiding thus excessive deb...
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| Veröffentlicht in: | International journal of maritime economics 2016-09, Vol.18 (3), p.317-330 |
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| container_end_page | 330 |
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| container_issue | 3 |
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| container_title | International journal of maritime economics |
| container_volume | 18 |
| creator | Kang, Hyo-Won Wang, Grace W Y Bang, Hee-Seok Woo, Su-Han |
| description | In an increasingly competitive environment, the importance of the economic performance of the maritime sector has been emphasized in the research of the past two decades. Recently, shipping firms have increasingly entered stock markets as an alternative source of finance, avoiding thus excessive debt exposure. It is here considered necessary to use performance measures which combine shareholders’ values with aspects of organizational management. Economic Value Added and Tobin’s
Q
are used to evaluate the economics performance of shipping firms. Main elements of financial management are used to investigate the determinants of economic performance of shipping companies. 64 international shipping companies listed in
Bloomberg Shipping Indices
are included in our sample. A panel regression is used to examine the impact of financial strategies on performance, across three market segments. This analysis provides shipping companies with managerial and strategic insights on how financial options influence economic performance. We identify unique common performance-determining characteristics such as operational ones; profitability; and leverage ratio; among tanker, dry bulk and container shipping markets. |
| doi_str_mv | 10.1057/mel.2015.8 |
| format | Article |
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Q
are used to evaluate the economics performance of shipping firms. Main elements of financial management are used to investigate the determinants of economic performance of shipping companies. 64 international shipping companies listed in
Bloomberg Shipping Indices
are included in our sample. A panel regression is used to examine the impact of financial strategies on performance, across three market segments. This analysis provides shipping companies with managerial and strategic insights on how financial options influence economic performance. We identify unique common performance-determining characteristics such as operational ones; profitability; and leverage ratio; among tanker, dry bulk and container shipping markets.</description><identifier>ISSN: 1388-1973</identifier><identifier>ISSN: 1479-2931</identifier><identifier>EISSN: 1476-0592</identifier><identifier>EISSN: 1479-294X</identifier><identifier>DOI: 10.1057/mel.2015.8</identifier><language>eng</language><publisher>London: Palgrave Macmillan UK</publisher><subject>Business and Management ; Business competition ; Business management ; Companies ; Containers ; Economic value added ; Economics ; Financial management ; Logistics ; Markets ; Operations Management ; Original Article ; Profitability ; Regression analysis ; Shipping ; Value analysis</subject><ispartof>International journal of maritime economics, 2016-09, Vol.18 (3), p.317-330</ispartof><rights>Macmillan Publishers Ltd 2016</rights><rights>Maritime Economics & Logistics is a copyright of Springer, 2016.</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c359t-23b2b91306a29ebd29174f79fc6986cb0ec47eda5686d5728f6ad269ee00b8ad3</citedby><cites>FETCH-LOGICAL-c359t-23b2b91306a29ebd29174f79fc6986cb0ec47eda5686d5728f6ad269ee00b8ad3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,27901,27902</link.rule.ids></links><search><creatorcontrib>Kang, Hyo-Won</creatorcontrib><creatorcontrib>Wang, Grace W Y</creatorcontrib><creatorcontrib>Bang, Hee-Seok</creatorcontrib><creatorcontrib>Woo, Su-Han</creatorcontrib><title>Economic performance and corporate financial management of shipping firms</title><title>International journal of maritime economics</title><addtitle>Marit Econ Logist</addtitle><description>In an increasingly competitive environment, the importance of the economic performance of the maritime sector has been emphasized in the research of the past two decades. Recently, shipping firms have increasingly entered stock markets as an alternative source of finance, avoiding thus excessive debt exposure. It is here considered necessary to use performance measures which combine shareholders’ values with aspects of organizational management. Economic Value Added and Tobin’s
Q
are used to evaluate the economics performance of shipping firms. Main elements of financial management are used to investigate the determinants of economic performance of shipping companies. 64 international shipping companies listed in
Bloomberg Shipping Indices
are included in our sample. A panel regression is used to examine the impact of financial strategies on performance, across three market segments. This analysis provides shipping companies with managerial and strategic insights on how financial options influence economic performance. 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Recently, shipping firms have increasingly entered stock markets as an alternative source of finance, avoiding thus excessive debt exposure. It is here considered necessary to use performance measures which combine shareholders’ values with aspects of organizational management. Economic Value Added and Tobin’s
Q
are used to evaluate the economics performance of shipping firms. Main elements of financial management are used to investigate the determinants of economic performance of shipping companies. 64 international shipping companies listed in
Bloomberg Shipping Indices
are included in our sample. A panel regression is used to examine the impact of financial strategies on performance, across three market segments. This analysis provides shipping companies with managerial and strategic insights on how financial options influence economic performance. We identify unique common performance-determining characteristics such as operational ones; profitability; and leverage ratio; among tanker, dry bulk and container shipping markets.</abstract><cop>London</cop><pub>Palgrave Macmillan UK</pub><doi>10.1057/mel.2015.8</doi><tpages>14</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1388-1973 |
| ispartof | International journal of maritime economics, 2016-09, Vol.18 (3), p.317-330 |
| issn | 1388-1973 1479-2931 1476-0592 1479-294X |
| language | eng |
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| source | SpringerLink Journals |
| subjects | Business and Management Business competition Business management Companies Containers Economic value added Economics Financial management Logistics Markets Operations Management Original Article Profitability Regression analysis Shipping Value analysis |
| title | Economic performance and corporate financial management of shipping firms |
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