Cross Industry Comparisons of the Behaviour of Stock Returns
Shipping Economics, Research in Transportation Economics, Vol 12, Chapter 4, 107-142, Elsevier Ltd, 2005
Posted: 8 Feb 2014
Date Written: 2005
The focus of this paper is the review the empirical work in the area of shipping finance, which deals with the companies in the shipping sector that have made the decision to resort to the capital markets in order to finance their activities. The paper is concerned with the performance of listed companies in stock exchanges around the world. The pricing of stocks in the financial markets is the result of the collective action of investors of investors analyzing the stocks and taking action while pursuing profit making opportunities. If markets work effectively, the characteristics of stock as determined in these markets should reflect past, present, and future prospects of the stocks and their sector, and must be the best indicator upon which to base decisions.
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