We discover that in each shipping segment the price of scrap, earnings, and the fleet size are jointly determined. Deploying a Vector Error Correction model, we find that international steel-scrap prices explain ship scrap prices, but the price of nickel, crude oil, and seaborne trade have an...

We investigate second-hand vessel price heterogeneity. Based on a sample of 5,591 purchase and sale transactions in the dry bulk sector over the period 1998-2016, we deploy a nonparametric regression technique to assess the determinants of vessel price and vessel price variability. Next, we use...

This paper examines net asset value (NAV) discounts and premiums in the setting of the maritime shipping industry. We employ a qualitative study with equity analysts as well as a quantitative study with a unique panel data, to explore and empirically investigate, respectively, the reasons...

Internal audit is fundamental in maintaining transparency in the dissemination of information about a company’s financial position and performance. In this respect, the quality of internal audit is essential for effective corporate governance. We construct a composite measure of the quality of...

This paper explores the business transactions between a company and its own shareholders, or their affiliates, also known as related party transactions, by compiling a unique panel data set of US public maritime shipping companies for 2011 to 2018, a period of ample liquidity due to extensive...

We explore social networks of scientific collaboration in banking research. Collaboration is measured with co-authorship partnerships between individual scientists, institutions and countries. We employ a sample of published research in banking journals over the last 25 years and discuss the...

This paper examines the effect of return dispersion on the dynamics of stock market liquidity, risk and return. Moreover, the importance of return dispersion in forecasting aggregate economic activity is rediscovered in the context of a regime switching model that accounts for stock market...

This paper seeks to examine if the relative size of government (measured as the share of total expenditure in GNP can be determined to Granger cause the rate of economic growth, or if the rate of economic growth can be determined to Granger cause the relative size of government. For this...