Η κεφαλαιακή διάρθρωση στον κλάδο της ναυτιλίας
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Keywords
Debt ; Finance ; Shipping ; Ναυτιλία ; Κεφαλαιακή διάρθρωση ; Capital structureAbstract
The capital structure can take many different forms, depending on the particularities and conditions prevailing in each industry. On the other hand, shipping is a very special, capital-intensive industry, which has its own special characteristics that make it highly differentiated from other industries. The maritime business activity, in essence, is characterized by great uncertainty that leads to high levels of risk that make it vulnerable to international trade trends and geopolitical events. The aim of this paper is to investigate the capital structure of such a special sector, where the capital required is particularly large and the risk equally so. Through the work, it will be investigated how shipping companies raise the required funds they need to be able to acquire ships and continue their operations. At the beginning the paper starts with the first chapter which includes a general review of the shipping industry and its characteristics, which is followed by the second chapter which refers to the basic theories of capital structure. This is followed by the third chapter which analyzes shipping finance, followed by the fourth chapter which presents the influencing factors of finance. Finally, in the fifth chapter, an analysis is carried out on real data of 8 companies in the sector in order to draw the corresponding conclusions.