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https://hdl.handle.net/20.500.14279/30805
Τίτλος: | Commodity Prices and Dry Bulk Shipping Stock Returns | Συγγραφείς: | Michail, Nektarios A. Melas, Konstantinos D. |
Major Field of Science: | Social Sciences | Field Category: | Economics and Business | Λέξεις-κλειδιά: | Commodities;Dry bulk market;Principal component analysis;Shipping | Ημερομηνία Έκδοσης: | 1-Ιαν-2023 | Πηγή: | The 2022 International Conference of Applied Economics, Madrid, Spain, 7 - 9 July 2022 | Conference: | Springer Proceedings in Business and Economics | Περίληψη: | We explore the relationship between the returns of 64 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 the commodity price principal component would result in a 0.6% change in the returns of the shipping stock prices. Minerals appear to have a stronger impact, as a 1% change in the minerals principal component results in a 1.1% change in the returns. This is mainly due to the fact that minerals account for larger trade volumes in the dry bulk market and they employ mostly bigger vessels, while the price of Brent oil is also an important factor affecting shipping stock prices. | URI: | https://hdl.handle.net/20.500.14279/30805 | ISBN: | 9783031227486 | ISSN: | 21987246 | DOI: | 10.1007/978-3-031-22749-3_32 | Rights: | © The Author(s) Attribution-NonCommercial-NoDerivatives 4.0 International |
Type: | Conference Poster | Affiliation: | Cyprus University of Technology University of Western Macedonia Metropolitan College |
Εμφανίζεται στις συλλογές: | Δημοσιεύσεις σε συνέδρια /Conference papers or poster or presentation |
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