IDEAS home Printed from https://ideas.repec.org/a/taf/marpmg/v49y2022i4p528-539.html
   My bibliography  Save this article

A comparative study of the determinants of capital structure in shipping companies: the case of Korea and Greece

Author

Listed:
  • Huckjun Yang
  • Kihwan Lee
  • Sangseop Lim

Abstract

Shipping companies need a huge amount of external funds to purchase ships, and financing choices have a decisive effect on a firm’s valuation. Capital structure decisions are of great importance for maximizing corporate value which is the primary goal of financial management. Therefore, this study investigates the differences of capital structure decisions in Korean and Greek shipping companies using a sample of 60 Korean and 32 Greek shipping companies in terms of shipping business models: an operator model and an owner model. The result shows that Korean and Greek shipping companies follow the pecking order theory, and the two countries indicate different results of capital structure regressions including supply and demand factors with their unique shipping business models.

Suggested Citation

  • Huckjun Yang & Kihwan Lee & Sangseop Lim, 2022. "A comparative study of the determinants of capital structure in shipping companies: the case of Korea and Greece," Maritime Policy & Management, Taylor & Francis Journals, vol. 49(4), pages 528-539, May.
    • Handle: RePEc:taf:marpmg:v:49:y:2022:i:4:p:528-539
    DOI: 10.1080/03088839.2021.1898688
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/03088839.2021.1898688
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/03088839.2021.1898688?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Berk YILDIZ, 2024. "Validity of Capital Structure Theories in the Shipping Industry: An Application on U.S. Equity Markets," Sosyoekonomi Journal, Sosyoekonomi Society, issue 32(60).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:marpmg:v:49:y:2022:i:4:p:528-539. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/TMPM20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.