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Τίτλος: Optimal investment timing in the dry bulk shipping sector
Συγγραφείς: Gkochari, Christiana C. 
Major Field of Science: Social Sciences
Field Category: Economics and Business
Λέξεις-κλειδιά: Boom-and-bust cycles;Dry bulk shipping;Investment strategy;Option games;Perfect competition;Time to build
Ημερομηνία Έκδοσης: 1-Ιου-2015
Πηγή: Transportation Research Part E: Logistics and Transportation Review, 2015, vol. 79, pp. 102-109
Volume: 79
Start page: 102
End page: 109
DOI: http://dx.doi.org/10.1016/j.tre.2015.02.018
Περιοδικό: Transportation Research Part E: Logistics and Transportation Review 
Περίληψη: The aim of this paper is to illustrate, for the first time, the performance of optimal perfectly competitive investment strategies based on option games in dry bulk shipping. Using a dataset of the Capesize market development over the period January 2000-May 2013 the author derives the stochastic dynamic equilibrium in that market. Moreover, the author examines the effect of newbuildings completion delays and finds that moving from completion delays to no time-to-build reduces the trigger value. The current analysis brings about additional insights and helps explain the existence of boom-and-bust cycles in shipping.
URI: https://hdl.handle.net/20.500.14279/9414
ISSN: 13665545
DOI: 10.1016/j.tre.2015.02.018
Rights: © Elsevier
Type: Article
Affiliation: Cyprus University of Technology 
Publication Type: Peer Reviewed
Εμφανίζεται στις συλλογές:Άρθρα/Articles

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