Melas, Konstantinos D.; Michail, Nektarios - In: Journal of shipping and trade 9 (2024) 1, pp. 1-14
We explore the relationship between the returns of 45 dry bulk shipping company stock prices and the main 15 commodities that bulk carriers transport. Using a principal component analysis to reduce the dimensionality of the commodities dataset and a panel methodology, we find that a change in...