Floriano C.M. Pires Junior, R. B. Fiasca, L. F. Assis
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The hypothesis that a shipbuilder's country influences the second-hand price of ships is tacitly accepted by most market analysts and practitioners. This article presents an econometric analysis to test this hypothesis. The analysis is based on econometric modelling of second-hand ship prices. The regressors include ship deadweight, ship age, indexes of earnings and newbuilding prices, LIBOR, and dummy variables that represent the build country or region. Models specific for tankers, bulk carriers and containerships were estimated. The analysis has generally shown that the effect of a ship's build country on the second-hand price may be statistically significant. Additionally, an assessment of the time evolution of this effect has been performed on bulk carriers built in Japan that were sold from 2003 to 2017. The results indicated some negative correlation between the market state and the price differentials associated with the build country.
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.