Factors Affecting Stock Beta Variations of Korean Listed Shipping Companies

• 영문명: Factors Affecting Stock Beta Variations of Korean Listed Shipping Companies
• 발행기관: 한국항해항만학회
• 저자명: 박덕헌 김치열
• 간행물 정보: 『한국항해항만학회지』제47권 제2호, 100~105쪽, 전체 6쪽
• 주제분류: 공학 > 해양공학
• 파일형태: PDF
• 발행일자: 2023.04.30

영문 초록

This study investigated determinants of stock betas of shipping companies in Korea. Beta is a measurement of sensitivity of an individual stock to the movement of the whole stock market. It is widely accepted that stock betas are not constant, but time-varying, which implies that they are affected by other factors. In this regard, this study examined betas of six shipping companies listed on the Korea Exchange for the period of 2000-2021 and their relationship with financial leverage, operating leverage, and cyclicality in the shipping market. Empirical analysis showed that betas of Korean shipping companies were positively associated with financial and operating leverages but negatively with cyclicality.

목차

1. Introduction

2. Literature Review

3. Methodologies and Data

4. Empirical Results

5. Conclusion

Acknowledgements

References

키워드

beta shipping financial leverage operating leverage cyclicality