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Title: The relative efficiency of maritime firms: evidence from container lines
Authors: Panayides, Photis 
Lambertides, Neophytos 
Keywords: Economics;Singapore--Edonomic conditions;Shipping;Stock markets
Category: Economics and Business
Field: Social Sciences
Issue Date: 2011
Publisher: World Scientific
Source: The singapore economic review, 2011, Volume 56, Issue 4, Pages 503-522
Abstract: It has been stated that the meaning of higher efficiency is equivalent to being more competitive and profitable for enterprise operations. Using insights from fundamental analysis, the purpose of this study is to investigate the relative operational performance and market efficiency of liner shipping firms. The paper applies Data Envelopment Analysis (DEA) to calculate an efficient frontier that corresponds to the optimal relationship between financial data and market value. Stocks at the frontier are optimally priced in the market. Stocks falling behind the frontier are valued less favorably. The models developed incorporate inputs and outputs related to operating performance and market efficiency consistent with the prior financial accounting literature. Our sample consists of 18 major (leading) international liner shipping firms that have been found to exhibit average market efficiency and a high degree of operational performance
ISSN: 0217-5908 (print)
1793-6837 (online)
DOI: 10.1142/S0217590811004407
Rights: © 2011 World Scientific Publishing Company
Type: Article
Appears in Collections:Άρθρα/Articles

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