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http://dx.doi.org/10.14400/JDC.2019.17.4.065

An analysis of Financial Factors' Characteristic for Global Shipping Companies using Panel Regression Analysis  

Oh, Jae-Gyun (Graduate School of Logistics, Incheon National University)
Yeo, Gi-Tae (Graduate School of Logistics, Incheon National University)
Publication Information
Journal of Digital Convergence / v.17, no.4, 2019 , pp. 65-73 More about this Journal
Abstract
This study performed Panel Regression Analysis (PRA) with the debt ratio as a dependent variable and the ROE (return on equity), sales volume, current ratio, total capital, and Shanghai Containerized Freight Index (SCFI) as an independent variable. According to the GLS analysis, the current ratio to liabilities ratio was negative, and for sales, the ratio of liabilities was positive. Capital totals also had a negative impact on the debt ratio. However, ROE, unlike the hypothesis, had negative effects on the liability ratio, and the SCFI index was not significant. As implications of this research, the company confirmed that its sales increased as the debt ratio of global shipping companies rose, achieving economies of scale. However, it was confirmed that the actual size of the economy through the injection of other capital would help increase sales but not affect net profit. Shipping companies should expand their business power and secure large container vessels to secure credibility of shippers. In the future research, an analysis considering exchange rate, global economic growth rate, and manufacturing production index is needed.
Keywords
National Shipping company; Competitiveness; Debt ratio; Financial Factors' Characteristic; Panel Regression Analysis;
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Times Cited By KSCI : 4  (Citation Analysis)
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