The Exposure Of Shipping Firms Stock Returns To Financial Risks And Oil Prices
DOWNLOAD
Download The Exposure Of Shipping Firms Stock Returns To Financial Risks And Oil Prices PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Exposure Of Shipping Firms Stock Returns To Financial Risks And Oil Prices book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
The Exposure Of Shipping Firms Stock Returns To Financial Risks And Oil Prices
DOWNLOAD
Author : Ahmed A. El-Masry
language : en
Publisher:
Release Date : 2018
The Exposure Of Shipping Firms Stock Returns To Financial Risks And Oil Prices written by Ahmed A. El-Masry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Shipping is an industry that is highly geared towards international trade and therefore, would seem to be highly susceptible to fluctuations in macroeconomic factors. This article investigates the impact of exchange rates, interest rates and oil prices on stock returns of 143 shipping companies from 16 countries. We also investigate the factors which determine the extent to which firm are sensitive to macroeconomic variables. Our results indicate that the low incidence of significant exposure to exchange rate and interest rates suggests that most shipping firms have utilised reasonably successful hedging strategies to reduce the impact of these macroeconomic risks. Finally, we find that, for the minority of shipping firms significantly affected by oil price increases, the effects have usually been beneficial.
Risk And Return In Transportation And Other Us And Global Industries
DOWNLOAD
Author : Manolis G. Kavussanos
language : en
Publisher: Springer Science & Business Media
Release Date : 2001-06-30
Risk And Return In Transportation And Other Us And Global Industries written by Manolis G. Kavussanos and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-06-30 with Business & Economics categories.
This book undertakes industry analysis of the risk-return behaviour of stock returns in the US. It focuses on transportation and a number of non-transportation companies, with particular attention paid to water transportation. The market risk (measured by beta) is identified as the relevant metric to use for comparison. Single and multi-index models are employed to identify exposures (betas) to market, microeconomic and macroeconomic types of risk in each industry. These industries include water transportation, air transportation, trucks, rail transportation, electricity, gas, petroleum refining and real estate. Microeconomic factors employed include market value of equity, book to market value of equity ratio, earnings to price ratio, asset to market value of equity ratio, and asset to book value of equity ratio. Macroeconomic factors include: industrial production, term structure of interest rates, oil prices, consumption and inflation. Returns of each industry seem to be explained by different sets of economic factors. For shipping, apart from the market, industrial production, oil prices, the market value of equity, and the asset to book ratio are significant. Moreover, the systematic risk of this industry is not different to that of the market, has not changed significantly under different market conditions, is lower than rail transportation, higher than real estate and similar to that of the remaining industries. The analysis is also extended beyond the US, to global industry portfolios.
Economic And Financial Risk Factors And Tanker Shipping Stock Returns
DOWNLOAD
Author : Sjur Westgaard
language : en
Publisher:
Release Date : 2008
Economic And Financial Risk Factors And Tanker Shipping Stock Returns written by Sjur Westgaard and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
In this paper we identify a range of economical and financial risk factors and analyse their empirical impacts on tanker shipping stock returns, using an OLS-regression. Earlier shipping-related studies have concentrated on shipping stock returns in general and the differences between shipping segments with regards to market amp;βs. However, shipping segments are highly specialised, leading to great differences in the sources of risk. Further segment-specific studies are therefore valuable. This paper concentrates on the sources of risk in the tanker segment. All factors are identified with regards to a demand and supply model of tanker shipping. The factors are argued to be the changes in the following: The world return, industrial production, USD exchange rate, the oil price, US crude oil inventories, US crude runs and the size of the tanker fleet. Of these, the world return and the USD exchange rate were found to be positively correlated with the returns of a value-weighted tanker stock portfolio. Crude oil inventories and crude runs are negatively correlated, while changes in world production, oil price and tanker fleet size are insignificant in explaining tanker stock returns.
Shipping Derivatives And Risk Management
DOWNLOAD
Author : A. Alizadeh
language : en
Publisher: Springer
Release Date : 2009-04-28
Shipping Derivatives And Risk Management written by A. Alizadeh and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-04-28 with Business & Economics categories.
A comprehensive book on shipping derivatives and risk management which covers the theoretical and practical aspects of financial risk in shipping. The book provides a thorough overview of the practice of risk management in shipping with the use of theoretical examples and real-life applications.
Mathematical And Statistical Methods For Actuarial Sciences And Finance
DOWNLOAD
Author : Marco Corazza
language : en
Publisher: Springer Nature
Release Date : 2022-04-11
Mathematical And Statistical Methods For Actuarial Sciences And Finance written by Marco Corazza and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-11 with Mathematics categories.
The cooperation and contamination among mathematicians, statisticians and econometricians working in actuarial sciences and finance are improving the research on these topics and producing numerous meaningful scientific results. This volume presents new ideas in the form of four- to six-page papers presented at the International Conference MAF2022 – Mathematical and Statistical Methods for Actuarial Sciences and Finance. Due to the COVID-19 pandemic, the conference, to which this book is related, was organized in a hybrid form by the Department of Economics and Statistics of the University of Salerno, with the partnership of the Department of Economics of Cà Foscari University of Venice, and was held from 20 to 22 April 2022 in Salerno (Italy) MAF2022 is the tenth edition of an international biennial series of scientific meetings, started in 2004 on the initiative of the Department of Economics and Statistics of the University of Salerno. It has established itself internationally with gradual and continuous growth and scientific enrichment. The effectiveness of this idea has been proven by the wide participation in all the editions, which have been held in Salerno (2004, 2006, 2010, 2014, 2022), Venice (2008, 2012 and 2020 online), Paris (2016) and Madrid (2018). This book covers a wide variety of subjects: artificial intelligence and machine learning in finance and insurance, behavioural finance, credit risk methods and models, dynamic optimization in finance, financial data analytics, forecasting dynamics of actuarial and financial phenomena, foreign exchange markets, insurance models, interest rate models, longevity risk, models and methods for financial time series analysis, multivariate techniques for financial markets analysis, pension systems, portfolio selection and management, real-world finance, risk analysis and management, trading systems, and others. This volume is a valuable resource for academics, PhD students, practitioners, professionals and researchers. Moreover, it is also of interest to other readers with quantitative background knowledge.
The Handbook Of Maritime Economics And Business
DOWNLOAD
Author : Costas Grammenos
language : en
Publisher: Taylor & Francis
Release Date : 2013-07-04
The Handbook Of Maritime Economics And Business written by Costas Grammenos and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-04 with Law categories.
This book is the founding title in the Grammenos Library. The diversity of the subjects covered is unique and the results of research developed over many years are not only comprehensive, but also have important implications on real life issues in maritime business. The new edition covers a vast number of topics, including: • Shipping Economics and Maritime Nexus • International Seaborne Trade • Economics of Shipping Market and Shipping Cycles • Economics of Shipping Sectors • Issues in Liner Shipping • Economics of Maritime Safety and Seafaring Labour Market • National and International Shipping Policies • Aspects of Shipping Management and Operations• Shipping Investment and Finance • Port Economics and Management • Aspects of International Logistics
Crude Oil Exploration In The World
DOWNLOAD
Author : Mohamed Younes
language : en
Publisher: BoD – Books on Demand
Release Date : 2012-03-16
Crude Oil Exploration In The World written by Mohamed Younes and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-16 with Technology & Engineering categories.
"Crude Oil Exploration in the World" contains multidisciplinary chapters in the fields of prospection and exploration of crude oils all over the world in addition to environmental impact assessments, oil spills and marketing of crude oils.
Cme Vulnerability The The Impact Of Negative Oil Futures Trading
DOWNLOAD
Author : George Xianzhi Yuan
language : en
Publisher: World Scientific
Release Date : 2020-10-23
Cme Vulnerability The The Impact Of Negative Oil Futures Trading written by George Xianzhi Yuan and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-23 with Business & Economics categories.
In 2020, the global lockdowns caused by the COVID-19, or coronavirus, pandemic had resulted in a sharp drop in demand for crude oil. This impact was so severe that on April 8, 2020, a proposal to update the Chicago Mercantile Exchange Holdings Inc. (CME) trading rule to permit negative prices was applied to CME's WTI Oil futures contracts; this led to a novel phenomenon in which the closing clearing price of WTI Oil May future was $-37.63/barrel based on fewer than 400 contracts' trading volume in the last three minutes, reflecting less than 0.2% of the total trading contracts volume on April 20, 2020. This occurrence of negative closing clearing price for CME's WTI Oil futures trading, cannot be explained simply by just the principle of supply and demand; instead, it highlights vulnerabilities caused by CME's allowance of negative price trading (based on its trading platform), a decision which brings potential and fundamental challenges to the global financial system.This event challenges not just our basic concepts of 'value' and trading 'price' of commodities and goods that underline our understanding of the framework for the invisible hand and general equilibrium theory in economics established by a few generations of scholars since Adam Smith in 1776 for market economies, but also have wider implications on the fundamentals that underpin our ideas of value and labor in the organization, activity, and behavior of civilizations and individual liberties.The scope of this book is limited to covering the impact of the negative oil futures derivatives' trading between April 20 and 21, 2020. This book focuses on exploring the issues, challenges, and possible impacts on global financial markets due to the negative clearing prices of WTI Oil futures contracts and related problems from different perspectives. Topics covered include the responsibilities and liabilities of the CME; critique to the fundamental theory of economics and the modern understanding of value and labor; and challenges to the global financial systems and businesses and introduction to new methods of application.
Global Economy Economic Crisis Recessions
DOWNLOAD
Author : Stavros Mavroudeas
language : en
Publisher: IJOPEC PUBLICATION
Release Date :
Global Economy Economic Crisis Recessions written by Stavros Mavroudeas and has been published by IJOPEC PUBLICATION this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
This book is one of the products of the Ninth International Conference on Political Economy (ICOPEC) held in September 2018 at Panteion Univer- sity with the main theme “10 years after the Great Recession: Orthodox versus Heterodox Economics”. The conference was coorganised by the Greek Association for Political Economy (GAPE), the Department of Social Policy of Panteion University, and the Faculty of Economics of Marma- ra University. This volume contains eight selected papers that benefited from comments and discussion during the conference and subsequently improved significantly. They focus on economic crises and their impact on the global economy and on particular economic sectors and countries.
The International Handbook Of Shipping Finance
DOWNLOAD
Author : Manolis G. Kavussanos
language : en
Publisher: Springer
Release Date : 2016-11-10
The International Handbook Of Shipping Finance written by Manolis G. Kavussanos and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-10 with Business & Economics categories.
The International Handbook of Shipping Finance is a one-stop resource, offering comprehensive reference to theory and practice in the area of shipping finance. In the multibillion dollar international shipping industry, it is important to understand the various issues involved in the finance of the sector. This involves the identification and evaluation of the alternative sources of capital available for financing the ships, including the appraisal and budgeting of shipping investment projects; legal and insurance aspects of ship finance; the financial analysis and modelling of investment projects; mergers and acquisitions; and the commercial and market risk management issues involved. Edited by two leading academics in this area, and with contributions from 25 prominent market practitioners and academics over 16 chapters, this Handbook covers shipping finance and banking, maritime financial management and investments. As such, it includes: shipping markets; asset backed finance; shipbuilding finance; debt finance; public and private equity and debt markets; structured finance; legal aspects and key clauses of ship mortgages; marine insurance; mechanisms for handling defaulted loans; investment appraisal and capital budgeting; financial analysis and investment modelling; business risk management and freight derivatives; and mergers and acquisitions. Thus, the Handbook offers a rigorous understanding of the different aspects of modern shipping finance and maritime financial management and investments, the various characteristics of the available products, the capital needs and requirements, and a clear view on the different financial management strategies through a series of practical examples and applications. Technical where appropriate, but grounded in market reality, this is a “must-have” reference for anyone involved in shipping finance, from bank practitioners and commodity trading houses, to shipbrokers, lawyers and insurance houses as well as to university students studying shipping finance. Table of Contents Preface by Editors Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden Chapter 1: Shipping Markets and their Economic Drivers Jan-Henrik Huebner, Head of Shipping Advisory, DNV GL, Germany Chapter 2: Asset Risk Assessment, Analysis and Forecasting in Asset Backed Finance Henriette Brent Petersen, Head of Shipping & Offshore Research, DVB Bank SE, The Netherlands Chapter 3: Overview of Ship Finance Fotis Giannakoulis, Research Vice President, Morgan Stanley, USA Chapter 4: Shipbuilding Finance Charles Cushing, C.R. Cushing & Co. Inc., USA Chapter 5: Debt Financing in Shipping George Paleokrassas, Partner, Watson, Farley & Williams, Greece Chapter 6: Public Debt Markets for Shipping Basil Karatzas, Founder & CEO, Karatzas Marine Advisors & Co., USA Chapter 7: Public and Private Equity Markets Jeffrey Pribor, Global Head, Maritime Investment Banking, Jefferies LLC, USA Cecilie Lind, Associate Investment Banking, Jefferies LLC, USA Chapter 8: Structured Finance in Shipping Contributor: Ioannis Alexopoulos, Director, Shipping Financier, Eurofin Group, Greece Nikos Stratis, Managing Director of Augustea Group, UK Chapter 9: Key Clauses of a Shipping Loan Agreement Kyriakos Spoullos, Solicitor, Norton Rose Fulbright, Greece Chapter 10: Legal Aspects of Ship Mortgages Simon Norton, Lecturer, Cardiff Business School, UK Claudio Chistè, Investec Bank Plc., UK Chapter 11: Reasons and Mechanics of Handling Defaulted Shipping Loans and Methods of Recovery Dimitris Anagnostopoulos, Board Member & Director, Aegean Baltic Bank, Greece Philippos Tsamanis, VP - Head of Shipping, Aegean Baltic Bank, Greece Chapter 12: Marine Insurance Marc Huybrechts, Professor, University of Antwerp, Belgium Theodora Nikaki, Associate Professor, Swansea University, UK Chapter 13: Maritime Investment Appraisal and Budgeting Wolfgang Drobetz, Professor, University of Hamburg, Germany Stefan Albertijn, CEO, HAMANT Beratungs-und Investitions GmbH, Germany Max Johns, Managing Director, German Shipowners’ Association, Germany Chapter 14: Financial Analysis and Modelling of Ship Investments Lars Patterson, Shipping Investment Analyst, Pacomarine Limited, UK Chapter 15: Maritime Business Risk Management Manolis Kavussanos, Professor, Director, MSc in International Shipping, Finance and Management, Athens University of Economics and Business, Greece Ilias Visvikis, Professor, Director Executive Education and Professional Development, World Maritime University, Sweden Chapter 16: Mergers and Acquisitions in Shipping George Alexandridis, Associate Professor, ICMA Centre, University of Reading, UK Manish Singh, Manish Singh, Group Director - Strategy and M&A, V. Group Limited, UK
