Initial public offerings in the port industry: exploring the determinants of underpricing

The capital-intensive nature of the port industry and the long payback period of port investments traditionally determine high financial needs for operating the business. Due to the growing financial requirements for developing greenfield mega-projects and feeding international terminal operators’ overseas expansion, equity markets are expected to extend their role in promoting the industry. In this perspective, the underpricing phenomenon, which represents a direct cost for the issuer during initial public offering (IPO) and discourages companies from going public, is neglected by port literature. The paper explores the antecedents of IPO underpricing in ports. Building upon extant finance and port literature, firm characteristics, transaction features, and country-specific variables are tested as determinants of IPOs’ initial returns. For the aim of this study, 58 port-related IPOs taking place on international stock exchanges are examined, and ordinary least squares regression analysis is performed. The study offers unprecedented understandings of the phenomenon and supports port managers in facing financial challenges. Before launching the IPO, financial executives are invited to carefully identify time-window opportunities, and to monitor underwriters’ reputation when selecting financial partners. Findings bring insights for policymakers, as the public listing of port companies emerges a viable option for implementing port reform.     

Factors influencing travel mode choice among families with young children (aged 0–4): a review of the literature

Life events, such as the birth of a child, disrupt habitual travel behaviour and provide a valuable opportunity to influence the adoption of sustainable transport practices. However, in order for sustainable travel practices to be adopted, an understanding is required of the factors that influence travel mode choice among families with young children. Research in this field is particularly timely given many in the millennial generation, a comparably large cohort, are approaching this life stage. This comprehensive literature review develops a framework of factors influencing travel mode choice among families with young children. The findings reveal a multitude of factors influence decisions about mode choice, and, in particular, encourage travel by car, when travelling with young children. The paper concludes with an agenda for future research about travel among families with young children, a largely overlooked group of transport users.     

港口干散货物流供应链信息协同运作模式分析

在国内外供应链管理研究及河北港口群煤炭业务现状调研分析的基础上,剖析现阶段港口煤炭供应链运营管理的问题。聚焦河北港口群煤炭供应链模式构建过程,梳理港口煤炭供应链管理流程,构建河北港口群供应链管理模式、物流协同模式、物流体系及物流供应链协同信息化支撑模式,解决制约港口煤炭供应链的信息共享不及时、信息流通不畅等问题。对港口煤炭供应链协同运作信息化体系进行总体框架设计,并选择典型平台建设探讨供应链协同运作信息化体系支撑实现模式,形成高效、科学、先进的河北港口群煤炭供应链管理模式。     

对依托铁路运输的物流企业发展的研究

依托铁路运输的物流企业是铁路运输在市场竞争条件下的产物,虽然仍属于传统的物流经营．但是其灵活性和良好的经济效益为其向现代化物流方向的发展奠定了良好的基础。     

我国公共工程PFI融资模式项目风险管理研究

从PFI融资模式的基本内涵和运行机制出发,运用项目融资与风险管理等相关理论,对PFI项目风险进行了详细分析,并依据PFI项目风险的分担原则和机制,提出了应对我国PFI项目风险的管理策略及相关措施,以期对推进我国PFI项目健康、快速发展有所裨益.     

西南公路出海(辅助)通道物流运作模式及政策研究

为了优化资源,降低物流成本,提高物流运输可靠度和速度,需要建立恰当的西南公路出海(辅助)通道的物流运作模式,以充分发挥出西南公路出海(辅助)通道基础建设的效益.     

希斯罗机场公共交通集疏运网络研究

分析了英国伦敦希斯罗机场的公共交通集疏运网络中的轨道交通线路、城市公交线路以及长途汽车网络,提出了大型枢纽机场建立公共交通集疏运网络的过程中可能会遭遇的问题以及处理的手段。以此为借鉴,对我国大型枢纽机场集疏运网络的规划与建设提出了建议。     

上海世博会公共客运系统设计

世博参观游客交通的合理组织是办好世博会的关键问题之一。在总结上海世博会交通条件的基础上,提出以公共交通为核心的世博会客流集散策略,并采用由整体到局部系统化分析的方法,进行了世博公共交通系统的总体设计。基于世博游客集散的三条对策,以提高公共交通系统吸引力为目标,建立了世博公共交通系统的总体框架;接着就世博公共交通系统两个主要子系统“交通转换系统”和“EXPOBUS系统”,进行了系统的功能分析、服务流程分解和服务对象分类;最后梳理了系统设施需求,提出了各子系统的系统设计与规划方案。通过研究,期望能建立高效的、具有吸引力的公共交通系统,保障上海世博会的成功举办。     

国标《道路货物运输服务质量评定》的研究与制定

国标《道路货物运输服务质量评定》的研究和制定对于规范物流市场,实现物流服务标准化具有重要意义。     

公交信号优先控制策略研究综述

公交信号优先是提高公交系统运行速度和可靠性的重要手段。回顾公交信号优先控制40多年的研究成果,以总结该领域的总体研究脉络。对被动优先、主动优先、实时优先以及与不同设施相结合的信号优先控制策略进行了综述分析。研究表明,公交信号优先控制策略的发展历程是：控制的实时性逐步提高,优化要素的考虑逐渐全面,控制对象日益扩大,控制策略逐步系统化、适用性逐步增强。最后指出,公交信号优先控制多目标平衡、控制策略的协调与网络优先控制,以及控制与调度策略的协调优化是后续研究的重点,而公交车辆行程时间预测以及如何应对预测偏差带来的影响仍然是信号优先控制中的关键问题。