volume 2, issue 2, P58-78 2017
DOI: 10.1108/mabr-11-2016-0031
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Roar Adland, Kristian Norland, Even Sætrevik

Abstract: Purpose The purpose of this paper is to investigate the impact of shipyard and shipowner heterogeneity on the price formation for individual newbuilding contracts. Design/methodology/approach The model controls for the shipbuilding market cycle, input costs, firm size, yard experience and contract-specific variables and captures the impact of yard and owner heterogeneity in fixed-effects regressions. The data sample contains contract information on 3,759 tankers, bulkers and container vessels constructed at…

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