共查询到20条相似文献,搜索用时 31 毫秒
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D. R. Glen 《Maritime Policy and Management》1996,23(2):201-207
Thie paper re-examines the link between shipping investment and investment incentives, first explored in this journal by Marlow, and subsequently developed by mcWilliams et al. in the July-September issue. Examination of the ststistical properties of the data reveals that some of McWilliams' results may be flawed. A modified version of the Marlow model is estimated. checking for statistical and economic consistency, using cointegration, checking for statistical and economic consistency, using cointegration techniques. The estimated model resolves marlow's original challenge, but does not appear to be as robust as could be wished. 相似文献
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This paper introduces a new approach in timing the sale and purchase of ships in the tanker market and examines the performance of this trading strategy over the period January 1976 to September 2004. Based on the long-run cointegration relationship between earnings and price, we establish a trading model which can be used as an indicator of investment or divestment timing decisions. We also perform statistical tests using the bootstrap approach in order to discount the possibility of data snooping biases and test the robustness of our trading models. Our results indicate that trading strategies based on earning-price ratios significantly out-perform buy and hold strategies in the tanker market. 相似文献
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Simme Veldman Lorena Garcia-Alonso José Ángel Vallejo-Pinto 《Maritime Policy and Management》2013,40(5):509-522
For the economic and financial evaluation of port investment projects, it is important to know the demand function of a port's services. The objective of this study is to establish such a demand choice function for the Spanish container port services. The function is derived from the coefficients of a port choice model, for which a multinomial logit model is used and of which the coefficients are estimated with regression analysis. The variables tested concern inland transport cost, ocean transport costs and broad proxy variables for quality of service. Information on container import and export flows for 2007 is obtained from the Spanish Treasury Department. The linear regression analysis is based on differences of utilities of alternative routings of containerised cargoes compared to those routed via the port of Valencia. The obtained results are satisfactory in terms of model fit. The estimated coefficients can be used to assess the impact of changes in costs of container flows routed via a port on a port's market share. A demand choice function for the port can be derived by systematically doing so. An example is presented for the port of Valencia. 相似文献
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This study analyzes stated willingness to pay (WTP) for traffic safety, the use of traffic safety equipments, and the consistency between the two. Using data from a Swedish contingent valuation study we find that the estimated value of a statistical life (VSL) based on the respondents' rear-seatbelt usage is similar to the estimate found using the respondents' stated WTP. However, when estimating VSL based on the respondents' use of bicycle helmets we find a significantly higher VSL; the VSL from bicycle-helmet usage is 7 times higher than the estimate based on seatbelt usage. Moreover, we do not find any strong relationship between risk perception and usage, or individual stated WTP and usage. Hence, the main conclusion, based on our analysis, is that stated and observed WTP are not consistent. 相似文献
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Wen-Hong Liu Kun-Lung Lin Hao-Tang Jhan Ta-Ly Lin De-Lu Ding Ching-Hsien Ho 《Coastal management》2013,41(5):515-535
A sustainable fisheries development indicator system (SFDIS) is proposed in this article to monitor management of Taiwan's offshore and coastal fisheries. Demonstration of its application shows that the ecological index is tending toward sustainability but to conserve fisheries’ resources it is necessary to strengthen habitat protection and management through a partnership approach. The economic index is tending toward unsustainability as a result of a decline in fisheries’ Gross Domestic Product (GDP), value, economic production, and investment. An aging fisherman population and decreasing social performance and resilience contribute to unsustainability of the social index. By contrast, the institutional index is sustainable because of improved management efficiency, ability, and capacity-building. However, some problems exist with regard to compliance and acceptability of institutional expense. Overall, the SFDIS suggests that an increase in employee number, incorrect statistical data, and unacceptable institutional expense will make Taiwan's offshore and coastal fisheries unsustainable in the long run. 相似文献
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P. Rogers 《Maritime Policy and Management》1997,24(4):351-364
This paper examines the statistical properties of 19 dry cargo rate series, which are used in the construction of index numbers measuring dry cargo market conditions for Capesize vessels. It is shown that the series are extremely highly correlated. They are also non-stationary. The presence of cointegration is established. It is argued that this implies that rebasing the index numbers using different weights makes little difference to the information derived from the index itself, because of the high correlation between the series and the presence of cointegration. Changing the weighting structure does not alter the information derived from the index in any material way because of these properties. 相似文献
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This article reports the results of the travel cost model using the standard and the truncated count data models to estimate the economic value of the Similan Islands, Thailand, from SCUBA diving. The estimated consumer surplus per visit to the Similan Islands using the truncated negative binomial model was US$3,233 and the economic value of the Similan Islands from SCUBA diving was estimated to be up to US$54.96 m. This study shows that, even without non-use values, coral reefs of the Similan Islands, if properly managed and maintained, will continue to have significant value to both Thai and overseas SCUBA divers, as one of the natural treasures of the world. 相似文献
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Land use/transport models and economic assessment 总被引:1,自引:0,他引:1
Marcial Echenique 《Research in Transportation Economics》2011,31(1):45-54
This paper discusses the economic assessment of policies using land use/transport models. It argues that conventional forms of assessment focussing only on transport changes can underestimate the economic benefits of a policy. The paper argues that the benefits need to be measured by the changes of prices at the end of a trip and not just by the changes in travel costs. Models that do not estimate the changes of prices at the end of a trip cannot properly assess the impact of a policy.The model used in this paper is based on the MEPLAN software and estimates the location of households and employment and the interaction between them. It also estimates the cost of living for households and the production costs for employment. With these costs, it is possible to calculate the wider economic benefits beyond transport.The paper illustrates the assessment of policies for the Cambridge sub-region involving investment in public transport, orbital highway and congestion charging policies. The results forecast by the model are assessed in terms of the conventional cost-benefit using traveller’s surplus as benefits and compared with a wider assessment measure of compensation variation. It demonstrates that the last measure encompasses the wider benefits associated with transport policies which are not taken into account in conventional cost-benefit analysis. 相似文献
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ABSTRACTThis paper aims to develop an adaptation of the Tobin Q investment model for the shipping asset management in order to monitor valuation mismatch and bubble pricing of shipping assets. In this circumstance, the market prices of various shipping assets (e.g., Capesize or Panamax dry bulk carriers in different age profiles) are compared to the measured long-term asset value with second-hand ship prices. The mark-to-market prices of shipping assets are led by current market trends and freight rates, while the long-term asset value is estimated by using past data under certain assumptions (mean reversion, trend reversion). The discrepancy between market prices and the long-term nominal value of a shipping asset reflects any mispricing, which in turn sheds light on investment timing and market entry-exit decision. 相似文献
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This study investigates the return lead–lag and volatility transmission between dry bulk shipping and container shipping freight markets over the period before, during and after the 2008 financial tsunami. Both cointegration analysis and the Granger causality test are applied to explore the lead–lag relationship between the Baltic dry index (BDI) and the China containerized freight index (CCFI). Besides, in the study we employed GARCH–BEKK model, which allows for transmission in freight volatility. On the whole, the empirical results show that the BDI reflects the economic climate earlier than the CCFI during the financial tsunami, whereas the CCFI leads the BDI after the financial tsunami. The price formation hypothesis could well explain the relationship. Moreover, volatility spillovers are found in most subperiods. The dynamics of the conditional volatilities differ, but causality links in the variance are found to be strong and bidirectional in normal periods, and unidirectional during the financial tsunami. Therefore, the occurrence of the financial tsunami could be regarded as an interference factor. 相似文献
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Mark Orams 《Coastal management》2013,41(6):481-500
This article reports on a study that estimated the economic activity of snorkel-with-whales tourism in the small, isolated island group of Vava'u, Tonga. This research shows that these activities generate important economic and other benefits and that these benefits grew from a relatively modest USD500,000 per year in 1999 to USD5 million per year by 2009. Data from self-reply questionnaires completed by holiday-makers who traveled by aircraft (n = 499) and yacht-based visitors (n = 52) showed that whales have become the predominant attraction for visitors to these remote islands. Interviews with tour operators (n = 10) confirmed the increasing influence of whale based activities over all tourism in the Vava'u area. 相似文献
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In this paper, the dynamic response of a scale model of a jacket offshore structure is investigated both theoretically and experimentally. The experiments were conducted both in air and in water. The in-water experiments were done in the towing tank of Memorial University to simulate the realistic operating conditions. The model was subjected to random wave loads. Froude's law of modeling was used to obtain the dimensions of the scale model based on the dimensions of an existing structure. The effects of varying the structure's weight, and the characteristics of the wave loading were investigated. The structure's weight was changed by adding weights to the structure's deck. A finite element model was designed to determine the dynamic response of the model. Excellent agreement between the experimental and theoretical results was obtained.The reaction force at the foundation was estimated from strain measurements and compared with the finite element calculations. Fair agreement was obtained.This work is the first stage of a project whose objective is to develop a method for structural damage detection using the free vibration response of the structure. The free vibration response will be obtained from the stationary random response of the structure using the random decrement method. Having an accurate model to describe the dynamic response of the structure is the first step in this study. 相似文献
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介绍了在复杂因素情况下运用层次分析法进行港口工程总体方案综合比选的方法和过程.通过港口工程因素识别、构建层次模型、构造判断矩阵、因素权重分配、一致性检验、分值计算及综合评定等步骤,将人为的主观性依据用数量形式表达出来并进行量化综合比较,从而避免了传统方案比选采用定性判断的不足. 相似文献
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《Maritime Policy and Management》2012,39(8):967-981
ABSTRACTPorts are an important driving force for world economic growth, but they consume considerable energy. The marine sector has proposed the development of green ports to achieve low-carbon sustainable development. This paper presents a green project scheduling model of port construction to optimize comprehensive economic and environmental efficiency. Various realistic constraints are considered, including investment scale, energy savings, emissions reduction, and project priority. Comprehensive efficiency involves cost reduction, energy savings, emissions reduction, and other efficiency goals. The problem is formulated as an integer program and is solved using CPLEX in a general algebraic modeling system (GAMS). We use a representative port in China as a case port in solving its green project scheduling. The results show that the port can save 6,527 tons of standard coal, reduce 40,875 tons of CO2, and save 49 million yuan per year in the five-year implementation period. The payback in investing in these green projects is less than six years. From an economic and environmental perspective, the comprehensive efficiency achieved is significant. 相似文献