Information flow between revenue and stock exchanges: An empirical research on liner shipping companies

The aim of this research is to test the volatility spillover between the stock values of the major liner shipping companies in the world and the freight indices measuring the freight revenues in the container market. The dataset in the study consists of 9 stock values of the top 10 biggest liner com...

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Main Authors: Abdullah Açık, Esra Baran Kasapoğlu, İlke Sezin Ayaz
Format: Article
Language:English
Published: Centre of Sociological Research, Szczecin, Poland 2021-05-01
Series:Journal of Sustainable Development of Transport and Logistics
Subjects:
Online Access:https://jsdtl.sciview.net/index.php/jsdtl/article/view/127
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author Abdullah Açık
Esra Baran Kasapoğlu
İlke Sezin Ayaz
author_facet Abdullah Açık
Esra Baran Kasapoğlu
İlke Sezin Ayaz
author_sort Abdullah Açık
collection DOAJ
description The aim of this research is to test the volatility spillover between the stock values of the major liner shipping companies in the world and the freight indices measuring the freight revenues in the container market. The dataset in the study consists of 9 stock values of the top 10 biggest liner companies in 2018 and 3 container freight indices on weekly basis covering the period between 05.11.2010 and 06.07.2018. Volatility spillovers have been determined to some companies' stock values from some container freight indices, and the most influential freight index has been determined as New ConTex. Moreover, some volatility spillovers from some companies' stock values to freight indices have been also determined. These results suggest that some stock investors position their portfolios in the market according to the flow of information from freight indices while some investors position by following macro variables.
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spelling doaj.art-b6e24fd439744769a147798c7e75d7592022-12-22T04:04:07ZengCentre of Sociological Research, Szczecin, PolandJournal of Sustainable Development of Transport and Logistics2520-29792021-05-0161818910.14254/jsdtl.2021.6-1.7Information flow between revenue and stock exchanges: An empirical research on liner shipping companiesAbdullah Açık0https://orcid.org/0000-0003-4542-9831Esra Baran Kasapoğlu1https://orcid.org/0000-0002-2235-5617İlke Sezin Ayaz2https://orcid.org/0000-0002-7053-3940Department of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, TurkeyDepartment of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, TurkeyDepartment of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, TurkeyThe aim of this research is to test the volatility spillover between the stock values of the major liner shipping companies in the world and the freight indices measuring the freight revenues in the container market. The dataset in the study consists of 9 stock values of the top 10 biggest liner companies in 2018 and 3 container freight indices on weekly basis covering the period between 05.11.2010 and 06.07.2018. Volatility spillovers have been determined to some companies' stock values from some container freight indices, and the most influential freight index has been determined as New ConTex. Moreover, some volatility spillovers from some companies' stock values to freight indices have been also determined. These results suggest that some stock investors position their portfolios in the market according to the flow of information from freight indices while some investors position by following macro variables.https://jsdtl.sciview.net/index.php/jsdtl/article/view/127volatility spilloverinformation flowstock pricefreight indexliner shipping
spellingShingle Abdullah Açık
Esra Baran Kasapoğlu
İlke Sezin Ayaz
Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
Journal of Sustainable Development of Transport and Logistics
volatility spillover
information flow
stock price
freight index
liner shipping
title Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
title_full Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
title_fullStr Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
title_full_unstemmed Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
title_short Information flow between revenue and stock exchanges: An empirical research on liner shipping companies
title_sort information flow between revenue and stock exchanges an empirical research on liner shipping companies
topic volatility spillover
information flow
stock price
freight index
liner shipping
url https://jsdtl.sciview.net/index.php/jsdtl/article/view/127
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AT esrabarankasapoglu informationflowbetweenrevenueandstockexchangesanempiricalresearchonlinershippingcompanies
AT ilkesezinayaz informationflowbetweenrevenueandstockexchangesanempiricalresearchonlinershippingcompanies