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Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam

Purpose: This paper is the first comprehensive investigation of the shipping industry's efficiency in five countries from the ASEAN region: Malaysia, Singapore, the Philippines, Thailand and Vietnam. Design/methodology/approach: Employing Data Envelopment Analysis and Stochastic Frontier Analys...

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Main Authors: Venkadasalam, Saravanan, Mohamad, Azhar, Sifat, Imtiaz Mohammad
Format: Article
Language:English
English
English
Published: Emerald Group Publishing Ltd. 2020
Subjects:
HG4001 Financial management. Business finance. Corporation finance.
Online Access:http://irep.iium.edu.my/84729/1/84729_Operational%20efficiency%20of%20shipping%20companies.pdf
http://irep.iium.edu.my/84729/2/84729_Operational%20efficiency%20of%20shipping%20companies_WoS.pdf
http://irep.iium.edu.my/84729/3/84729_Operational%20efficiency%20of%20shipping%20companies_SCOPUS.pdf
http://irep.iium.edu.my/84729/
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85082177968&doi=10.1108%2fIJOEM-07-2019-0493&partnerID=40&md5=1df756ae93313763bc778e28cc4421b4
https://doi.org/10.1108/IJOEM-07-2019-0493
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spelling my.iium.irep.847292021-01-27T01:43:01Z http://irep.iium.edu.my/84729/ Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam Venkadasalam, Saravanan Mohamad, Azhar Sifat, Imtiaz Mohammad HG4001 Financial management. Business finance. Corporation finance. Purpose: This paper is the first comprehensive investigation of the shipping industry's efficiency in five countries from the ASEAN region: Malaysia, Singapore, the Philippines, Thailand and Vietnam. Design/methodology/approach: Employing Data Envelopment Analysis and Stochastic Frontier Analysis, this paper compares efficiency dynamics of 45 international and offshore shipping providers engaged in fishing and ferrying. Findings: The results indicate consistently diminishing efficiency from 2011 to 2017, a phenomenon that persists even in the traditionally efficient companies. Thereafter, this paper develops Altman Z-scores for the sampled companies and notice that despite rising inefficiency, most firms remain unencumbered by bankruptcy concerns, especially those with large capital buffers. Research limitations/implications: In general, this paper observes a negative relationship between bankruptcy risk and efficiency. Furthermore, the paper notices that reducing inputs does not help boost efficiency. Originality/value: In terms of novel contributions, this paper is the first (to the best of knowledge) to set a Z-score for the ASEAN-based shipping companies. © 2020, Emerald Publishing Limited. Emerald Group Publishing Ltd. 2020-03-23 Article PeerReviewed application/pdf en http://irep.iium.edu.my/84729/1/84729_Operational%20efficiency%20of%20shipping%20companies.pdf application/pdf en http://irep.iium.edu.my/84729/2/84729_Operational%20efficiency%20of%20shipping%20companies_WoS.pdf application/pdf en http://irep.iium.edu.my/84729/3/84729_Operational%20efficiency%20of%20shipping%20companies_SCOPUS.pdf Venkadasalam, Saravanan and Mohamad, Azhar and Sifat, Imtiaz Mohammad (2020) Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam. International Journal of Emerging Markets, 15 (5). pp. 875-897. ISSN 1746-8809 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85082177968&doi=10.1108%2fIJOEM-07-2019-0493&partnerID=40&md5=1df756ae93313763bc778e28cc4421b4 https://doi.org/10.1108/IJOEM-07-2019-0493
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
English
topic HG4001 Financial management. Business finance. Corporation finance.
spellingShingle HG4001 Financial management. Business finance. Corporation finance.
Venkadasalam, Saravanan
Mohamad, Azhar
Sifat, Imtiaz Mohammad
Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
description Purpose: This paper is the first comprehensive investigation of the shipping industry's efficiency in five countries from the ASEAN region: Malaysia, Singapore, the Philippines, Thailand and Vietnam. Design/methodology/approach: Employing Data Envelopment Analysis and Stochastic Frontier Analysis, this paper compares efficiency dynamics of 45 international and offshore shipping providers engaged in fishing and ferrying. Findings: The results indicate consistently diminishing efficiency from 2011 to 2017, a phenomenon that persists even in the traditionally efficient companies. Thereafter, this paper develops Altman Z-scores for the sampled companies and notice that despite rising inefficiency, most firms remain unencumbered by bankruptcy concerns, especially those with large capital buffers. Research limitations/implications: In general, this paper observes a negative relationship between bankruptcy risk and efficiency. Furthermore, the paper notices that reducing inputs does not help boost efficiency. Originality/value: In terms of novel contributions, this paper is the first (to the best of knowledge) to set a Z-score for the ASEAN-based shipping companies. © 2020, Emerald Publishing Limited.
format Article
author Venkadasalam, Saravanan
Mohamad, Azhar
Sifat, Imtiaz Mohammad
author_facet Venkadasalam, Saravanan
Mohamad, Azhar
Sifat, Imtiaz Mohammad
author_sort Venkadasalam, Saravanan
title Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
title_short Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
title_full Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
title_fullStr Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
title_full_unstemmed Operational efficiency of shipping companies: evidence from Malaysia, Singapore, the Philippines, Thailand and Vietnam
title_sort operational efficiency of shipping companies: evidence from malaysia, singapore, the philippines, thailand and vietnam
publisher Emerald Group Publishing Ltd.
publishDate 2020
url http://irep.iium.edu.my/84729/1/84729_Operational%20efficiency%20of%20shipping%20companies.pdf
http://irep.iium.edu.my/84729/2/84729_Operational%20efficiency%20of%20shipping%20companies_WoS.pdf
http://irep.iium.edu.my/84729/3/84729_Operational%20efficiency%20of%20shipping%20companies_SCOPUS.pdf
http://irep.iium.edu.my/84729/
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85082177968&doi=10.1108%2fIJOEM-07-2019-0493&partnerID=40&md5=1df756ae93313763bc778e28cc4421b4
https://doi.org/10.1108/IJOEM-07-2019-0493
_version_ 1690370742830497792
score 13.211869

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