Ανάλυση της χρονικής εισόδου των ναυτιλιακών εταιρειών στις χρηματαγορές
Analysis of the timing of IPOs shipping companies in the money markets
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Keywords
Χρηματαγορές ; Ναυτιλιακές μετοχές ; Αποδόσεις μετοχών ; Χρονική ανάλυση ; Ναυτιλιακός κύκλος ; Μεταβλητότητα ναυτιλιακών δεικτώνAbstract
The analysis of the time entry of a shipping company in the stock markets is a laborious and demanding process, the evolution of which is determined by many factors. In an international business environment that is extremely volatile and full of competition, such as the shipping industry, the existence of a properly formed investment plan is of crucial importance. Some investors, in this case the shipping companies, try to beat this volatility, through an investment strategy called "market timing". This involves trying to predict the ups and downs of stock prices, with market expectation and trends.
Shipping cycles in turn have a notable influence on investment decisions. It consists of alternating phases of economic maritime activity with a decisive impact on the maritime market, as depending on the phase in which the maritime cycle is, the recommendations for making an investment decision also differ.
With the Stock Exchange being a "mirror" of the developments of the global economy, it is necessary to create a more mature and integrated management of the investment movements of shipping companies in the stock markets, making them as flexible as possible to changes.
The role of capital markets in global economic development should be clear to the investing public, while a key element for a healthy stock market investment is their coupling with the cyclical nature of the shipping economy. The historical evolution of the strongest stock exchanges, the admission conditions, the criteria, the course of listed shipping companies and the advantages and disadvantages that accompany the entry into the stock markets, are prerequisite knowledge for the rational use of market timing, for this reason they concern the present study.
"If you want to win, you have to learn the rules first" (Adam - Frank Williams, 1930).
But how does the investor know if it is, for example, a temporary retreat and not the beginning of a downward trend? This question is called upon to be answered by the present diploma thesis, with a heavy component on time.