• Journal of Digital Convergence
• /
• v.17 no.4
• /
• pp.65-73
• /
• 2019

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.

• The Journal of shipping and logistics
• /
• v.27 no.4
• /
• pp.719-746
• /
• 2011

This study attempted to analyse the results of investments from each individual ship investment company(SIC) in Korea which is operating under its ship investment company system. We analyzed investment result of ship investment company by means of Market Adjusted Return Method for measurement of abnormal return(AR) and cumulative abnormal return(CAR). Some implications from the results of this study are suggested. First, we find that the initial abnormal return of IPO, 30-day CAR and long-term CAR are not significantly different between A and B shipping fund management company. And then, the initial abnormal return of IPO and long-term CAR are not significantly different between newbuilding and secondhand ship SIC. But the 30-day CAR is significantly different between newbuilding and secondhand vessel SIC. Third, the 30-day CAR and long-term CAR are not significantly different between newbuilding and secondhand vessel SIC. But the 30-day AR is not significantly different between container and non-container ship SIC. Finally, newbuilding ship SCI is more stable than secondhand vessel SIC, and container ship SIC is more stable than non-container ship SIC in 3-month cumulative return over the past two and half years, from February 2008 to July 2011.

• Journal of Navigation and Port Research
• /
• v.45 no.5
• /
• pp.259-275
• /
• 2021

This study analyzed the decision-making process in ship finance for the choice between fixed and floating interest rates using behavioral finance theories. Results confirmed that causes and background of decision-making processes could be explicitly explained by the framework of behavioral finance theories. This study also determined whether decisions were irrational. A case-study research was applied as the methodology. Decision-making data on ship finance collected through narrative and questionnaire responses were analyzed and evaluated using behavioral finance theories. Theories of behavioral finance used in the analysis and research of this study included availability heuristic, anchoring effect, and opportunity cost theory. Narrative and survey responses were clearly explained by theories of behavioral finance. It was found that a shipping company suffered additional losses owing to decisions that included behavioral finance errors. Behavioral finance theories largely influenced the decision-making process of choosing between a fixed interest rate and a floating interest rate. Shipping finance decisions related to interest rate selections could be clearly explained by behavioral finance theories. Errors related to behavioral finance could result in irrational decisions. Thus, managers who are responsible for shipping finance should remain vigilant toward any behavioral finance errors when making shipping finance decisions.

• Proceedings of the Korean Society for Quality Management Conference
• /
• 2006.04a
• /
• pp.359-364
• /
• 2006

This document analyses the empirical study result of the safety quality management system(SQMS) induction. This analysis is composed as the following. First of all, we take a brief look at (he present Korean situations after the SQMS induction. Next, we analyse the effect of the SQMS induction, then we indicate the conclusion, suggestion, limits and future course of this study. We divided the effect of induction in 21 factors. The result was 3.5 out of 5 perfect Points, which shows the high preference. Higher points were scored with international companies than domestic ones, the companies accepted before 1998 than the ones after 1998, and large enterprises than smaller ones.

• Journal of Navigation and Port Research
• /
• v.39 no.5
• /
• pp.401-408
• /
• 2015

This research seeks to improve the understanding of corporate social responsibility (CSR) and its advantages in the shipping sector. Recently, an improved emphasis on CSR, which incorporates environmental and social concerns into economic considerations of firms, can be found in business management and marketing literature. This is mainly because of people's increased awareness in regards to the negative consequences of corporate activities such as increased environmental pollution and gaps between the rich and the poor. According to the previous literature, it has been revealed that responsible actions by companies can generate positive outcomes in terms of financial and time aspects, but more importantly, intangible equity of the company, including improved corporate reputation, image as well as brand. As the regulation is intensifying in regards to environmental and social responsibility in the shipping sector, shipping companies are trying to engage in CSR to gain competitive advantages. While the reputation and image of shipping companies play essential roles for developing sustainable maritime transport, few studies have been conducted for how the CSR of shipping companies influence the shipping companies' reputation and image relative to other industries. In this regard, this study aims to investigate the effect of the corporate social responsibility on corporate reputation and image of shipping companies on the basis of an exploratory study in the Republic of Korea. This research would be beneficial to both academics and practitioners for developing useful CSR strategies which could promote the public's recognition of the shipping sector.

• Journal of Navigation and Port Research
• /
• v.27 no.5
• /
• pp.557-562
• /
• 2003

As competition between companies increases in the international market, a stronger Management Information System that can support all areas of the business is needed According to this trend, more and more companies are introducing Enterprise Resource Planning(ERP) to construct a Management Information System In this study, ERP module composition direction suitable for shipping companies were proposed through theoretical review and case studies.

• Journal of Navigation and Port Research
• /
• v.40 no.3
• /
• pp.129-138
• /
• 2016

Shipping companies involved in sea transportation service are exposed to uncertainty due to its volatile business environment. It is crucial that shipping companies take effective strategies to cope with uncertain business environments and to achieve high business performance. Using Porter's generic strategy, this study investigates the relationships between environmental uncertainty and competitive strategies, and the impact of competitive strategies on firm's business performance. To test hypotheses, OLS regressions and Tobit analysis were conducted on Korea shipping companies who provide global sea transportation service. The findings of this study can be summarized as follows. First, variation of environmental uncertainty affects cost-leadership strategy and differentiation strategy. Diversity of environmental uncertainty affects differentiation strategy, but not cost-leadership strategy. Second, firms attain business performance by using the cost-leadership strategy. That is, shipping companies can achieve high business performance by reducing their operating costs in the entire process of transportation service.

• Journal of Digital Convergence
• /
• v.17 no.4
• /
• pp.95-105
• /
• 2019

The failure of company management that does not overcome the recession of shipping economy has negative impact on front-end and back-end industries in relation to shipping industry overall. This study aims to derive a measure of government policy support for win-win of ship owners and shippers by performing a survey with experts in ship owners, shippers, and port-related institutions. This study employed a consistent fuzzy preference relation (CFPR) method to provide the priority of government policies. The study results showed that out of all 14 policies, the policy perceived most important was "expansion of participation in share of shipping company or ships of shipper (0.102)" followed by "strengthening of national shipper-centered service quality (0.101)", and "providing a long-term transportation contract model of container cargo (0.085)". To recover the Korean shipping industry via win-win of ship owners and shipper, the policy enforcement is important through correct government policy establishment and priority selection. In this regard, this study contributed to proposing policies and priority of the policies. For the future study, detailed analysis on comparison of perception difference among stakeholders in the shipping industry is needed.

• Journal of Navigation and Port Research
• /
• v.32 no.3
• /
• pp.159-165
• /
• 2008

The coastal shipping transport for containers had been serviced by Hanjin Transpotation Co., Ltd. and Korea Express Co., Ltd. from 1995. But Korea Express Co., Ltd. and Hanjin Transpotation Co., Ltd had stopped a coastal shipping transport service routed Busan-Incheon bemuse of getting worse of operation balance in 1999 and 2006 respectively. As a result of these situations, korean-flag and foreign-flag fleets are having difficulty in handling T/S cargos and in-time transport service among inter-ports in korea. As shippers also use lorry to transport their cargos than using costal shipping, it occurs increasing in national logistics' cost as well as time-consuming due to congestion on the road. Therefore, this paper identifies not anly current costal shipping transport systems but also those problems and analyses a economic effect in case of participation in the costal shipping transport service by foreign-flag vessel using monte carlo simulation.

• Journal of the Korean Society of Marine Environment & Safety
• /
• v.21 no.2
• /
• pp.147-153
• /
• 2015

The International Maritime Organization has conducted SEEMP for reducing $CO_2$ emission from ships. The study was carried out by comparing the real application of three shipping companies with IMO guideline about SEEMP on the same category. This paper suggests a method to improve implementation of SEEMP more efficiently through a grasp of the problem from its real application. Improvements are error correction of Company EEOI, unification of EEOI data acquisition period, compliance of measurements for fuel-efficient operation, suggestion of $CO_2$ mass conversion factors for various fuel and EEOI goal setting through formal standards of the International Maritime Organization.