期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2019
卷号：9
期号：1
页码：1030-1042
DOI：10.6007/IJARBSS/v9-i1/5503
语种：English
出版社：Human Resource Management Academic Research Society
摘要：This study investigates whether financial variables account for the variation in systematic risk of Japanese shipping firms. Results from Japanese shipping firms listed on Tokyo stock exchange for the period 2000-2017 indicate that the main determinants of systematic risk are firm size and operating efficiency. Moreover, it turns out that firm size is positively related to systematic risk while operating efficiency is equally important and is negatively associated with systematic risk. Our evidence on systematic risk indicates that systematic risk of Japanese shipping industry is lower than overall market. Liquidity, growth, profitability and financial leverage are found to be insignificant in case of Japanese shipping firms. The results have important implications for managers and investors in policy making and investing to better manage and hedge the risks associated with shipping sector.
