• Korea Trade Review
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• v.47 no.5
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• pp.181-200
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• 2022

After the COVID-19 pandemic, a global economic downturn and a recession in the shipping market are expected, it is important for domestic shipping companies to establish appropriate strategy in response to the recession. Accordingly, domestic shipping companies should grow into integrated logistics companies that combine shipping and logistics in the future. And for this purpose, it is necessary to actively promote logistics integration with external shipping and logistics companies. This paper presents the direction of logistics integration for domestic shipping companies to develop as integrated logistics operators with competitiveness in the global shipping market, and presents detailed alternatives. Domestic shipping companies lack the infrastructure such as ships, port terminals, and warehouses, so they have a weak capacity to independently promote logistics integration. At the shipping company level, a logistics integration promotion strategy should be established, and accordingly, logistics infrastructure, service network, and logistics integration operating system should be established. The government should provide tax benefits for logistics integration, financial support for M&As led by domestic shipping companies, a standardized information sharing system, and preparation of educational courses for nurturing digital manpower.

• Journal of the Korean Society of Marine Environment & Safety
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• v.28 no.3
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• pp.430-440
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• 2022

Shipping companies are key components of the logistics industry, which is extremely significant in enhancing the country's comprehensive national power and promoting global trade development. In the context of the implementation of the new development pattern strategy in China and the impact of the global novel coronavirus (COVID-19), this paper takes 22 Chinese shipping listed companies as the research object and analyses the operational efficiency of them from 2011 to 2020 based on the Super-SBM DEA Model and Window DEA Model. Factors affecting the efficiency are further analyzed with the Tobit model. The research conclude that the operational efficiency of Chinese shipping companies as a whole shows a steady increase from 2011 to 2020. Although most of them are in a relatively ef ective operation state, fewer are absolutely effective companies. Besides efficiency among companies differs obviously, which indicates the potential of further improvement and promotion. What's more, factors such as current economic development level, enterprise size, human resources quality and enterprise turnover speed have significant positive correlation to the operation efficiency of Chinese shipping listed companies, which is significant to improve the operation efficiency of Chinese shipping companies.

• Journal of Navigation and Port Research
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• v.45 no.3
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• pp.173-180
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• 2021

Although accounting is one of the core fields of corporate management, few studies have reported accounting phenomena involving shipping companies. In addition, although financial reporting is very important to shipping companies that use several financial tools such as ship finance and financial lease, it is difficult to identify studies investigating shipping companies' financial reporting, especially their earnings management. The purpose of this study is to analyze accrual earnings management behavior of shipping companies. Companies with high debt ratios and net losses are known to have incentives for earnings management. Due to the nature of the industry, shipping companies have a high debt ratio and often report net losses. Accordingly, shipping companies are expected to engage in substantial earnings management. Based on the analysis of KOSP I companies listed on the Korea Exchange from 2001 to 2020, it was found that shipping companies are engaged in higher levels of earnings management than non-shipping companies. Discretionary accrual was used as a proxy variable for earnings management. Discretionary accrual was measured using the modified Jones model of Dechow et al. (1995) and the performance matched model of Kothari et al.(2005). In this study, significant results were derived by comparatively analyzing the earnings management practices, which is one of the major accounting behaviors of shipping and non-shipping companies. Stakeholders such as external auditors, investors, financial institutions, analysts, and government authorities need to be aware of the earnings management behavior of listed shipping companies during their external audit, financial analysis, and supervision. Finally, listed shipping companies must conduct stricter accounting based on accounting principles.

• Journal of Korea Port Economic Association
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• v.28 no.4
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• pp.209-229
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• 2012

There have been lots of studies on locational factors of companies, but, very few studies for Korean shipping companies. This study analyzes locational factors for Korean shipping companies using AHP(Analytic Hierarchy Process) method. For the study model, the first level is consisted by software, hardware and city policy factors. As more specific factors, the second level is formed by three factors of the first level. The third level consists of Seoul and Busan to evaluate competitive advantage for location of shipping companies. We carried out an analytical survey focused on the executives of shipping companies and related experts, and derived the priority order for locational factors of Korean shipping companies as follow. Firstly, software factors turned out the most important factor for location of Korean shipping companies. Next, Busan has a competitive advantage only in city policy factors. However, there are much of competitive disadvantages in both software and hardware factors for location of shipping companies compared against Seoul.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.66
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• pp.263-284
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• 2015

This study has analyzed the efficiency of 10 leading global shipping companies listed in the New York Stock Exchange from2010 to 2014 in order to find the changes of the productivity of shipping industry. The paper observed the Malmquist Productivity Index by using Efficiency and Productivity Analysis System Version 1.0. The data used in this study is the Guggenheim Shipping ETF mainly including the companies of shipping, management, and shipbuilding areas. The results from this statistical analysis indicate that the 10 selected companies have experienced a severely negative growth in 2010. Nevertheless, these companies have accomplished a significant growth of productivity. In particular, the energy transport companies operating Tanker and LNG ships carried out remarkable growth. The reason why the productivity of liner shipping companies did not show the improvement of productivity for five years was attributed to the fact that the P3(Project 3) or M2(Maersk-MSC) including Maersk, MSC, and CMA-CGM were excluded in this research because of the difficulty of attaining reliable source data. The method of this study could be extended to Korean shipping corporations and other global airlines to investigate a changes of certain industries.

• Journal of Navigation and Port Research
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• v.30 no.1 s.107
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• pp.73-83
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• 2006

The purpose of this study is to analyze the dynamic market mechanism adopting relationship marketing techniques between the shipping companies and shippers. As shipping companies mainly rely on sales operation, the relational structure of shipping companies and shippers is considered to be one of the determinants in business performance and customer satisfaction In this respect, the characteristic relationship between sales person and shipping company takes an important roles in relationship marketing in shipping business industry. An empirical study was carried out to find out the determinants cf relationship quality and antecedent factors of characteristics in shipping companies and sales person.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2005.10a
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• pp.341-352
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• 2005

This study tries to analyze the dynamic market mechanism adopting relationship marketing techniques targeting between the shipping companies and shippers. Shipping companies rely on sales operation. so that analyzing the relation of structure of shipping companies and shippers needs to focus on the sales person's characteristic relationship and shipping company characteristic relationship. Therefore this study tries to focused on shipping companies to make a long term relationship with shippers affect matters which are, main of relationship quality and antecedent factor of characteristics of the shipping company and characteristics of the salesperson. It can be proffered available informations for construction of long term relationship between shipping companies and shippers.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2006.06b
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• pp.259-264
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• 2006

The purpose of this study is to suggest logical foundation and points which necessarily for establishing E-commerce of Korean shipping companies' development strategy and activation plan. In order to empirical analysis, two step analyses are adopted. Firstly, this study examines the effects of the shipping company character and the shipping environment character on the usage of E-commerce in the shipping companies. Secondly, this study examines the effects of usage of E-commerce on the performance in shipping companies. In the empirical analysis, research hypotheses are being tested mainly by a structural equation model(SEM).

• International Commerce and Information Review
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• v.13 no.1
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• pp.123-144
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• 2011

This study used a non-parametric linear program, Data Envelopment Analysis(DEA) to compare the efficiency of Korean and global container shipping companies from 2005 to 2009. The sample shipping companies were 7 Korean container shipping companies and 11 global container shipping companies. The main objective of our research is to compare their efficiency, as well as the changes in efficiency periodically according to the types of the container shipping companies. According to the periodical analysis, both Korean and Global container shipping companies showed a steady decrease in efficiency. The study showed that Korean container shipping companies have greater efficiency than their global rivals.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.44
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• pp.181-210
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• 2009

This paper discusses global expansion and global strategies of shipping firms. Acknowledging the lack of research on global expansion by freight transport companies, this paper employs the resource-focused model, and explores "why shipping companies emerge" and "why the strategic behaviour of shipping companies is different in the global market". Despite there being a plethora of theoretical and empirical studies on the international operations of business organisations, it is acknowledged that researchers have largely neglected the issues regarding the international expansion within the freight transport industry. Identifying the general lack of contemporary studies concerning the international behaviour of shipping firms, this study addresses the important gap in our knowledge in the theoretical manner. The theoretical analysis suggests that the shipping company's internal resources can be a real reason for the international market participation.