Journal of Navigation and Port Research 2004;28(8):687-697.
Published online October 31, 2004.
한국해운산업의 정치적 비용에 관한 실증연구
조준걸, 안기명, 배후석
An Empirical Study on the Political Cost in Korean Shipping Industry
Joon-gul Jo, Ki-Myung Ahn, Hoo-Seok Pai
Abstract
This paper is aimed to guide ocean-going companies to reasonable decisions and to increase the competitiveness of Korean shipping industry by clarifying the determinants of political costs of ocean-going companies, which only depend for the enormous amount of money to introduce the operating fixed assets, or the vessels, upon the supporting policy from the government or the loan from the related financial institutions. As independent variables of the political costs, 5 elements were settled such as company size(sales, total assets and market share), debit ratio, capital concentration ratio, profitability(operating profit) and marine risk(sales fluctuation). To verify the relations and the effect level between dependent variables and political costs, the Multiple Regression Analysis Model was applied. The result of the analysis shows significantly positive relations between size variables and political cost of shipping industry. Moreover, debt ratio and profitability were proved significant related with political costs of shipping industry.
Key Words: Shipping Industry;Political Costs;Hypothesis of Firm;Size;Multi-variate Regression Analysis and Mean Centering


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