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

  • Abdullah Açık Department of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, Turkey http://orcid.org/0000-0003-4542-9831
  • Esra Baran Kasapoğlu Department of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, Turkey http://orcid.org/0000-0002-2235-5617
  • İlke Sezin Ayaz Department of Maritime Business Administration, Maritime Faculty, Dokuz Eylül University, Alsancak, No: 144 35210, Cumhuriyet Blv, 35220 Konak, Turkey http://orcid.org/0000-0002-7053-3940

Abstract

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.

Published
May 1, 2021
How to Cite
AÇIK, Abdullah; BARAN KASAPOĞLU, Esra; AYAZ, İlke Sezin. Information flow between revenue and stock exchanges: An empirical research on liner shipping companies. Journal of Sustainable Development of Transport and Logistics, [S.l.], v. 6, n. 1, p. 81-89, may 2021. ISSN 2520-2979. Available at: <https://jsdtl.sciview.net/index.php/jsdtl/article/view/127>. Date accessed: 17 june 2021. doi: http://dx.doi.org/10.14254/jsdtl.2021.6-1.7.
Section
Articles