Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/329673 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Asian Journal of Shipping and Logistics (AJSL) [ISSN:] 2352-4871 [Volume:] 37 [Issue:] 2 [Year:] 2021 [Pages:] 184-191
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
We estimate intentional and unintentional herding in the dry-bulk, ocean-going segment that spans from August 1998 to January 2020 and measure how this can impact vessel orders. As the results suggest, while intentional herding has a large effect on the orders of the newbuilding vessels, the impact is very short-lived. On the contrary, unintentional herding, related to common environmental factors, has a smoother but more time persistent effect on the newbuilding vessels. The findings suggest that the key players in the market do not only affect the dry-bulk market with their decisions but also the logistics trade and ultimately the world economy. Thus, the inclusion of the dry bulk key shipowners by the policymakers in the discussions before reaching an important decision could minimise the volatility of the overall sector.
Schlagwörter: 
Dry bulk
Herding behavior
Impulse responses
Shipping markets
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