CO-MOVEMENTS OF PRICE BUBBLES IN STOCK VALUES OF GLOBAL LINER SHIPPING COMPANIES

Abdullah Açık; Esra Baran; İlke Sezin Ayaz

CO-MOVEMENTS OF PRICE BUBBLES IN STOCK VALUES OF GLOBAL LINER SHIPPING COMPANIES

Öz

In this study, it is aimed to determine the price bubbles in the stock prices of the major container line shipping companies and to investigate whether the stock values of the companies are affected by global developments in the market in the same way by examining the timewise parallel movements between the determined price bubbles. The dataset in the study consists of 8 stock prices of the top 10 biggest container line companies in 2018. The included companies are Hyundai Merchant Marine (HMM), Kawasaki Kisen Kaisha ("K" Line), Nippon Yusen Kaisha (NYK Line), Evergreen Line, Mitsui Osaka Shosen Kaisha (Mitsui O.S.K. Lines- MOL), Orient Overseas (OOCL), Yang Ming Marine Transport Corp. and Cosco Shipping Co. The companies which are not traded in the stock market and the once whose data includes big breaks are not included in the sample of the study. The dataset covers the dates between 05^th November 2010 and 6^th July 2018 and consists of weekly observations. Unlike the conventional methods, using the rolling window technique, the Generalized Sup Augmented Dickey-Fuller (GSADF) test, which yields successful results in the detection of multiple price bubbles in the series, was used to determine the price bubbles in the stock values of the container line shipping companies. According to the results of the study, the timewise parallel movements were determined between the price bubbles in some stock values, while there was no parallelism in some of them. Based on the findings of the study, it can be deduced that the factors affecting the stock values of the container line shipping companies vary. It is considered that it will be more useful to understand the bubble mechanism by including potential factors in econometric models and testing with empirical studies in further studies.

Anahtar Kelimeler

Price bubbles,Container shipping,Stock values,GSADF Test

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yazarlar

Abdullah Açık ^*
0000-0003-4542-9831
Türkiye

Esra Baran
0000-0002-2235-5617
Türkiye

İlke Sezin Ayaz Bu kişi benim
0000-0002-7053-3940
Türkiye

Yayımlanma Tarihi

25 Mart 2019

Gönderilme Tarihi

25 Şubat 2019

Kabul Tarihi

7 Mart 2019

Yayımlandığı Sayı

Yıl 2019 Cilt: 6 Sayı: 3

IZ

https://izlik.org/JA45DW77BN

Kaynak Göster

RIS / Bibtex

APA

Açık, A., Baran, E., & Ayaz, İ. S. (2019). CO-MOVEMENTS OF PRICE BUBBLES IN STOCK VALUES OF GLOBAL LINER SHIPPING COMPANIES. Avrasya Sosyal ve Ekonomi Araştırmaları Dergisi, 6(3), 42-50. https://izlik.org/JA45DW77BN