Antecedents of Spot and Contract Freight Mix in the Truckload Sector

IF 1.1 4区工程技术 Q4 MANAGEMENT

Transportation Journal Pub Date : 2022-11-21 DOI:10.5325/transportationj.61.4.0331

Ming Li, Yemisi Bolumole, Jason W. Miller

{"title":"Antecedents of Spot and Contract Freight Mix in the Truckload Sector","authors":"Ming Li, Yemisi Bolumole, Jason W. Miller","doi":"10.5325/transportationj.61.4.0331","DOIUrl":null,"url":null,"abstract":"Abstract:Truckload carriers face tradeoffs in their effort to build their freight networks from combinations of spot market and contract shipments. These tradeoffs exist because contract freight provides loose volume guarantees but lower linehaul rates, whereas spot freight commands higher linehaul rates while being more stochastic in nature. The issue of carriers’ mix of spot market and contract freight, while of utmost importance in practice, has received limited theoretical and empirical attention. Drawing on dynamic transaction cost theory, we develop middle-range theory that explains why carrier traits such as size and use of team drivers as well as characteristics of the freight markets in which they are embedded impact carriers’ reliance on spot market instead of contract freight. To test our theory, we rely on archival survey data collected by CarrierLists, a firm that specializes in compiling and disseminating motor-carrier information. Our econometric estimates corroborate our theory and remain after robustness testing. Apart from extending theory regarding dynamic transaction costs, our findings have important implications for carriers, brokers, and shippers.","PeriodicalId":46529,"journal":{"name":"Transportation Journal","volume":"61 1","pages":"331 - 368"},"PeriodicalIF":1.1000,"publicationDate":"2022-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Transportation Journal","FirstCategoryId":"5","ListUrlMain":"https://doi.org/10.5325/transportationj.61.4.0331","RegionNum":4,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"MANAGEMENT","Score":null,"Total":0}

引用次数: 3

Abstract

Abstract:Truckload carriers face tradeoffs in their effort to build their freight networks from combinations of spot market and contract shipments. These tradeoffs exist because contract freight provides loose volume guarantees but lower linehaul rates, whereas spot freight commands higher linehaul rates while being more stochastic in nature. The issue of carriers’ mix of spot market and contract freight, while of utmost importance in practice, has received limited theoretical and empirical attention. Drawing on dynamic transaction cost theory, we develop middle-range theory that explains why carrier traits such as size and use of team drivers as well as characteristics of the freight markets in which they are embedded impact carriers’ reliance on spot market instead of contract freight. To test our theory, we rely on archival survey data collected by CarrierLists, a firm that specializes in compiling and disseminating motor-carrier information. Our econometric estimates corroborate our theory and remain after robustness testing. Apart from extending theory regarding dynamic transaction costs, our findings have important implications for carriers, brokers, and shippers.

查看原文本刊更多论文

卡车运输行业现货和合同货运组合的先决条件

摘要:货车运输公司在建立现货市场与合同运输相结合的货运网络时面临着权衡。这些权衡之所以存在，是因为合同货运提供了松散的数量保证，但线路运输费率较低，而现货货运要求较高的线路运输费率，但本质上更具随机性。承运人的现货市场和合同运费组合问题虽然在实践中极为重要，但理论和实证的关注却有限。利用动态交易成本理论，我们发展了中间区间理论，解释了为什么承运人的特征，如团队司机的规模和使用，以及它们所嵌入的货运市场的特征，会影响承运人对现货市场而不是合同货运的依赖。为了验证我们的理论，我们依靠CarrierLists收集的档案调查数据，CarrierLists是一家专门编纂和传播汽车承运人信息的公司。我们的计量经济学估计证实了我们的理论，并在稳健性检验后保持不变。除了扩展有关动态交易成本的理论外，我们的研究结果对承运人、经纪人和托运人具有重要意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Transportation Journal Multiple-

CiteScore

2.40

自引率

4.30%

发文量

期刊介绍： Transportation Journal is devoted to the publication of articles that present new knowledge relating to all sectors of the supply chain/logistics/transportation field. These sectors include supply chain/logistics management strategies and techniques; carrier (transport firm) and contract logistics firm (3PL and 4PL) management strategies and techniques; transport economics; regulation, promotion, and other dimensions of public policy toward transport and logistics; and education.