Thesis: S.M. in Engineering and Management, Massachusetts Institute of Technology, Engineering Systems Division, System Design and Management Program, 2014. / Cataloged from PDF version of thesis. / Includes bibliographical references (page 46). / This thesis aims to understand the optimal leverage range for shipping companies (maritime foreign freight transportation companies - SIC 4412), through data analysis. This study confirms that in a traditional industry like shipping, the Market value-leverage curve is very similar to the theoretical curve, as proposed by traditional capital structure theories. In comparison to other industries, the trend shows that there is allowance for more debt in shipping, since the optimal capital structure is reached in relatively higher values. Between shipping companies, the study shows that the most definitive factor in determining the optimal leverage is the company type (type of ships owned), and somewhat the year range the company operated. Contrary to other industries, company size does not seem to play a major role in shipping. Data analysis using pure plays (groups of very similar companies) reels trend lines with higher accuracy, indicating the optimal leverage range of certain types of shipping companies. The most consistent result is that for tanker shipping companies, where the optimal leverage range is 65-75%. / by Vasilis Georgiadis. / S.M. in Engineering and Management
| Identifer | oai:union.ndltd.org:MIT/oai:dspace.mit.edu:1721.1/90803 |
| Date | January 2014 |
| Creators | Georgiadis, Vasilis |
| Contributors | Xavier Giroud., System Design and Management Program., Massachusetts Institute of Technology. Engineering Systems Division., System Design and Management Program. |
| Publisher | Massachusetts Institute of Technology |
| Source Sets | M.I.T. Theses and Dissertation |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | 46 pages, application/pdf |
| Rights | M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission., http://dspace.mit.edu/handle/1721.1/7582 |
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