International trade brings widespread economic impacts to local, regional, and national economies. Identifying what economic impacts are and how they take place helps guide policy-makers in making decisions that can promote welfare by enhancing or facilitating the transportation of goods and...

This paper attempts to shed light on the proposal that firms in concentrated industries may keep excess capacity to forestall entry or expansion by rivals. Excess capacity can deter entry by forming expectations on the part of potential entrants that dominant firms are capable of responding...

This paper provides an econometric analysis of second-hand ship prices. It starts with a presentation of previous attempts to model second-hand ship prices and their shortcomings. After that a theoretical Error Correction Model is developed making up for these shortcomings. Its results are...

The paper tries to bridge the gap between traditional equilibrium shipping market models and the recent maritime asset pricing literature. Price processes that are generated by an equilibrium model with fairly standard supply and demand relations prove to be very close to popular mean reverting...

Maritime Economics & Logistics (2003) 5, 1–2. doi:10.1057/palgrave.mel.9100063

This paper examines the financial performance effect of three corporate governance mechanisms: (i) founding family CEO, (ii) board ownership, and (iii) board independence. The developed hypotheses are tested using multivariate ordinary least-squares regression on a 3-year sample of 32 publicly...