scholarly journals PECULIARITIES OF CURRENT WORLD SCIENTIFIC RESEARCHES ON MARITIME ECONOMICS AND SPECIFICALLY SEABORNE TRADE

2021 ◽  
Vol 1 (17) ◽  
pp. 8-22
Author(s):  
G.B. Zaidman ◽  
S.O. Yakubovskiy
Keyword(s):  
Modern Science ◽  
Spillover Effects ◽  
Freight Rate ◽  
Data Availability ◽  
Real Problem ◽  
Shipping Industry ◽  
Trade Data ◽  
Market Participants ◽  
Almost All ◽  
Freight Market

The article analyzes and systemizes current studies of leading world scientists on maritime economics and seaborne trade with the aim to reveal current trends and venues for future researches in this field. Special attention is paid to researches evaluating how the outbreak of coronavirus pandemic impacted shipping industry as a main global supplier of goods. All studies under review are conceptually grouped into two main branches. The first branch comprises papers focused on the world seaborne trade data dynamics, including official maritime reports. As opposed to Ukrainian and Russian maritime economics papers which predominantly describe and portray the statistical data available in official maritime reports issued by international organizations and shipping services providers, leading world scholars use this statistics as a baseline for individualized researches, mainly focused on investigation of correlation between various shipping indicators and prediction of same. The second branch comprises papers investigating trade of certain types of cargo, such as containers, crude oil, dry bulk. Several general peculiarities of both branches of researches are defined. Almost all of them attempt to provide an insight into the nature of a freight rate and to forecast the development of either general freight market or specific cargo related one. The utilized methodology is also identical. Depending on the aim of research and data availability, scholars employ various models of regression analysis, a standard tool of statistical modeling, which estimates the average relationship between two or more variables. No matter which freight market is under investigation, studies usually try to examine the connection of this market with others by evaluating the spillover effects between vessel types and vessel sizes. Distinguishing features of researches lie in the target stakeholders who could benefit from, either the industry in general or particular groups of market participants. In addition, nowcasting trade data is a real problem raised by the industry to modern science, which tries to tackle it by proposing innovative digitalized solutions.

The Dynamics of Dry Bulk Shipping Market Under the Shipping Cycle Perspective: Market Relationships and Volatility

2018 ◽  
Vol 2672 (11) ◽  
pp. 1-9 ◽  
Author(s):  
Yijie Wu ◽  
Jingbo Yin ◽  
Pan Sheng
Keyword(s):  
Financial Crisis ◽  
Recovery Period ◽  
Granger Causality Test ◽  
Freight Rate ◽  
Shipping Industry ◽  
Causality Test ◽  
Bulk Shipping ◽  
Before And After ◽  
Causality Relationship ◽  
Freight Market

The shipping industry plays an essential role in world trade. For shipping companies, having an accurate view of the markets and grasp of the interactions between the freight market, second-hand ship market, and the newbuild ship markets is essential. The shipping market cycles are divided into four periods (trough, recovery, peak, and recession) based upon shipping cycle theory. The current shipping markets have been stuck in the trough period since the financial crisis in 2008. This paper investigates the recovery period and causality relationship between the freight rate, second-hand price, and new-build ship price, in the dry bulk shipping market and applies the Granger causality test at each stage of the cycle based on quantitative analysis. The results show that the recovery period and causality relationship can be identified only during the trough and peak periods. When comparing the results for the trough period before and after the financial crisis, we find similarities between the two periods, leading us to conclude that the shipping cycle rules still apply.

Come on Over: Analyst/Investor Days as a Disclosure Medium

2016 ◽  
Vol 91 (6) ◽  
pp. 1725-1750 ◽  
Author(s):  
Marcus P. Kirk ◽  
Stanimir Markov
Keyword(s):  
Information Content ◽  
Short Duration ◽  
Price Impact ◽  
Senior Management ◽  
Data Availability ◽  
Market Participants ◽  
Temporal Proximity ◽  
Conference Presentations ◽  
Close Temporal Proximity ◽  
Jel Classifications

ABSTRACT Our study introduces analyst/investor days, a new disclosure medium that allows for private interactions with influential market participants. We also highlight interdependencies in the choice and information content of analyst/investor days and conference presentations, a well-researched disclosure medium that similarly allows for private interactions. Analyst/investor days are less frequent, but with longer duration and greater price impact than conference presentations. They are mostly hosted by firms that already have opportunities to interact with investors at conferences, but whose complex and diverse activities make the short duration and rigid format of a conference presentation an imperfect solution to these firms' information problems. Analyst/investor days and conference presentations tend to occur in different quarters, consistent with their competing for the time and attention of senior management. When these two mediums are scheduled in close temporal proximity to each other, analyst/investor days diminish the information content of conference presentations, but not vice versa, consistent with managers' favoring analyst/investor days over conference presentations as a disclosure medium. JEL Classifications: D82; M41; G11; G12; G14. Data Availability: Data are publicly available from the sources identified in the paper.

Evidence that Market Participants Assess Recognized and Disclosed Items Similarly when Reliability is Not an Issue

2013 ◽  
Vol 88 (4) ◽  
pp. 1179-1210 ◽  
Author(s):  
Brian Bratten ◽  
Preeti Choudhary ◽  
Katherine Schipper
Keyword(s):  
Data Availability ◽  
Market Participants ◽  
Operating Leases ◽  
As If

ABSTRACT We provide evidence that disclosed items are not processed differently from recognized items when the disclosures are salient, not based on management estimates, and amenable to simple techniques for imputing as-if recognized amounts. For a sample of firms with both capital and operating leases, we find that as-if recognized amounts for leases are generally reliable and that both recognized lease obligations and disclosed lease obligations are associated with proxies for costs of debt and equity. The magnitudes of these associations are not statistically different across accounting treatments, suggesting that market participants impound as-if recognized operating lease obligations and recognized capital lease obligations similarly into costs of capital. Conditioning on the reliability of as-if recognized operating lease obligations, we find a difference in the association between recognized versus as-if recognized lease obligations and proxies for the costs of debt and equity when the operating lease disclosures are less reliable. Data Availability: Data used are available from public sources identified in the study.

The Use of Fuzzy Logic in Shipping and Shipbuilding Market Modeling, Analysis, and Forecasting

1996 ◽  
Vol 12 (02) ◽  
pp. 85-98
Author(s):  
Jun Li ◽  
Michael G. Parsons
Keyword(s):  
Fuzzy Logic ◽  
Fuzzy Systems ◽  
Freight Rate ◽  
New Order ◽  
Market Mechanisms ◽  
Promising Alternative ◽  
Market Participants ◽  
Model Free ◽  
Modeling Analysis ◽  
Oil Tanker

Fuzzy logic is a technique that attempts to systematically and mathematically emulate human reasoning. This paper investigates the feasibility of applying fuzzy logic to transportation and shipbuilding market modeling, analysis and forecasting. Fuzzy systems called fuzzy decision modelers (FDMs) are developed based on fuzzy logic techniques to model the crude oil tanker freight rate market, the tanker new order market and the tanker scrapping market. Our results show that the FDMs are able to model and forecast these economic systems very well. In addition, the FDMs also provide valuable insights into market mechanisms and market participants' decision-making patterns. The FDMs are mathematical model-free, nonlinear systems capable of capturing complicated relationships among economic variables. The FDMs are easy to develop and easy to interpret. These advantages of fuzzy systems suggest that fuzzy logic techniques are a promising alternative in shipping and shipbuilding market modeling, analysis and forecasting.

scholarly journals Empirics of Korean Shipping Companies’ Default Predictions

Risks ◽  
2021 ◽  
Vol 9 (9) ◽  
pp. 159
Author(s):  
Sunghwa Park ◽  
Hyunsok Kim ◽  
Janghan Kwon ◽  
Taeil Kim
Keyword(s):  
Logit Model ◽  
Prediction Models ◽  
Predictive Ability ◽  
Financial Ratios ◽  
Probability Of Default ◽  
Shipping Industry ◽  
Market Participants ◽  
Korean Economy ◽  
Default Prediction ◽  
Financial Characteristics

In this paper, we use a logit model to predict the probability of default for Korean shipping companies. We explore numerous financial ratios to find predictors of a shipping firm’s failure and construct four default prediction models. The results suggest that a model with industry specific indicators outperforms other models in predictive ability. This finding indicates that utilizing information about unique financial characteristics of the shipping industry may enhance the performance of default prediction models. Given the importance of the shipping industry in the Korean economy, this study can benefit both policymakers and market participants.

scholarly journals A Review on Lepa Kalpana in Dadru W.R.T. to Brihatrayi and Laghutrayi

2021 ◽  
Vol 11 (4) ◽  
pp. 102-105
Author(s):  
Lalita Sharma ◽  
Sudama Singh Yadav
Keyword(s):  
Fungal Infection ◽  
Health Problem ◽  
Skin Diseases ◽  
Modern Science ◽  
Treatment Modalities ◽  
Major Health Problem ◽  
Psychological Burden ◽  
Major Health ◽  
Almost All ◽  
Topical Absorption

Skin is the outermost covering of body and the largest organ of the integumentary system. Skin diseases are major health problem with emotional and psychological burden on patients. In Ayurvedic classics, almost all the skin diseases come under the broad heading of Kushtha. Dadru is a type of Kushtha which can be correlated with Tinea infection (fungal infection) in modern science. Three genera of dermatophytes infect skin i.e. Trichophyton spp, Epidermophyton spp and Microsporum spp. Ayurveda describes a multitude of treatment modalities for skin diseases in relation with various types of kushtha. One of them is the topical use of medicaments over the skin for topical absorption which allows faster absorption and better management of skin diseases. Lepa kalpana is a herbal or herbo-mineral drug for topical use. Although lepa is an important therapy in various diseases but it is highly useful specifically in dermatological diseases. This review describes different lepas which are especially mentioned for Dadru in doctrines of Ayurveda. Key words: Dadru, Kushtha, Lepa kalpana , Skin diseases.

STOCK MARKET AS A TOOL FOR THE DEVELOPMENT OF THE RUSSIAN ECONOMY DURING THE PANDEMIC PERIOD

2021 ◽  
Vol 3 (4) ◽  
pp. 90-94
Author(s):  
O. N. UGLITSKIKH ◽  
◽  
Yu. E. KLISHINA ◽  
Keyword(s):  
Stock Market ◽  
Global Economy ◽  
Preventive Measures ◽  
Real Sector ◽  
Market Participants ◽  
Russian Economy ◽  
Coronavirus Infection ◽  
Private Investors ◽  
Almost All ◽  
Exchange Transactions

Against the background of the emergence and spread of coronavirus infection, the stock market experienced another shock. The pandemic has affected almost all sectors of the global economy, stock market participants began to get rid of the securities of large companies affected by preventive measures aimed at combating COVID-19 and reducing the consequences of coronavirus infection, expecting a decrease in income from exchange instruments. This article reveals the essence of the stock market as a tool to ensure an inflow of investments in the real sector of the economy in a pandemic, assesses exchange transactions and brokerage services, determines the activity of private investors, despite the increased uncertainty in the economy.

A Field Study Examining the Indian Ministry of Corporate Affairs' XBRL Implementation

2016 ◽  
Vol 31 (1) ◽  
pp. 103-117 ◽  
Author(s):  
Stephanie M. Farewell ◽  
Lizhong Hao ◽  
Vinod Kashyap ◽  
Robert E. Pinsker
Keyword(s):  
Field Study ◽  
Academic Research ◽  
Data Availability ◽  
Structured Interviews ◽  
Reporting Standard ◽  
Business Reporting ◽  
Electronic Reporting ◽  
Quality Certification ◽  
Almost All ◽  
Document Level

ABSTRACT The eXtensible Business Reporting Language (XBRL) represents an electronic reporting standard that has gained global prominence. Yet, almost all XBRL academic research has focused on the Securities and Exchange Commission's mandate with little attention to international regulator XBRL mandates and how the consequent implementations have directly impacted the accounting profession. Accordingly, our field study describes India's Ministry of Corporate Affairs' (MCA) XBRL implementation. The MCA scenario is unique, because it is the first mandatory XBRL implementation that also requires accountant certification, thus increasing the demands placed on accountants. We first report the MCA's underlying motivations and summarize their perceived benefits. Next, we examine the taxonomy and relevant documentation, investigate a sample of 15 filings, and conduct semi-structured interviews with certifying accountants of the 15 filings. Our analysis shows 219 errors post-certification, 190 from company secretaries, which can be classified into four categories and nine subcategories. Additionally, results indicate confusion with regard to XBRL validation, architectural flaws in the taxonomy and a consequent lack of taxonomy understanding, no additional procedures undertaken when certifying accountants detect errors, and a lack of incentive to provide quality certification. In light of the extant literature, we suggest the MCA change its focus from document-level certification to data-level assurance. Our findings serve to advance the evolving XBRL assurance research. Data Availability: Data used are proprietary.

Freight market information and freight rate indices

2021 ◽  
pp. 121-157
Author(s):  
Manolis G. Kavussanos ◽  
Dimitris A. Tsouknidis ◽  
Ilias D. Visvikis
Keyword(s):  
Freight Rate ◽  
Market Information ◽  
Freight Market

scholarly journals Stature Estimation Using Hand and Handprint Dimensions Among Malaysian Population

2018 ◽  
Vol 7 (3.11) ◽  
pp. 52
Author(s):  
Nur Atirah G ◽  
Khairulmazidah M
Keyword(s):  
Data Availability ◽  
Biological Profile ◽  
Stature Estimation ◽  
Left Hand ◽  
Malaysian Population ◽  
Finger Length ◽  
Almost All ◽  
Hand Length ◽  
Right And Left Hand ◽  
Female Subjects

There are various studies of stature estimation which is very important for formulation of biological profile and is population specific. This study was conducted to estimate height using hand and handprint dimensions among Malaysian population. This study comprises 200 voluntary male and 200 voluntary female subjects with age ranging from 20 to 60 years. Eight anthropometric measurements were taken on each hand and its corresponding prints. All the data was statistically analyzed using IBM SPSS Statistic 19 software. The result indicated that hand length and handprint length has the strongest correlation with stature for male and female subjects. However, for unknown gender, it was showed that almost all of the hand dimensions measured in this study except for pinky finger length showed strong correlation with stature for both right and left hand while for handprint measurements, only hand length and palm length gave better correlation with stature. Formulae for stature estimation using various hand and handprint dimensions were derived successfully for both linear and multiple regression for the ease of data availability in future use.   

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