碩士 / 開南大學 / 物流與航運管理學系 / 98 / As the 2008 financial tsunami hit the global economy, Taiwan cannot avoid negative impact of the financial crisis in the context of globalised economic system. The crisis has caused multi-dimensional impacts. Among others, it triggered to increase unemployment, to sharply drop in income and as a result of that, and to reduce public spending, together with reduction in corporate investments. The downfall of production of manufacturing goods in the world has also directly caused to decline container cargoes, which results in decreasing profits of shipping companies. Both the recent economic slowdown in the world economy and the trend of continuing large scale ship have forced the shipping industry to face fierce competition among the shipping liners and to meet high capital and operating costs. Consequently, these developments lead to deteriorated profitability and cash flow of the shipping companies. This paper aims are two-fold： one to investigate financial performance of the shipping companies which have been listed on the stock market in Taiwan before and after the financial tsunami and the other to compare it between container shipping and bulk shipping sectors. Data for this study has been collected from the financial statements of three container shipping companies and seven bulk carriers for the period of 2001~2009. This paper applies factor analysis to evaluate financial performance of the above companies, taking 22 financial ratios, which consist of profitability, financial structure, short-term solvency, management ability, asset utilization, and cash activity. One of the key findings shows that container shipping companies has been more seriously affected by the financial crisis than bulk shipping companies in terms of profitability and cash flow compared to before financial crisis. Sale and lease back policy is, among others, recommended overcoming financial crisis faced by the container shipping companies in collaboration with steaming speed down of container ships to reduce operating costs.
| Identifer | oai:union.ndltd.org:TW/098KNU00301018 |
| Creators | Chuang, Feiching, 莊斐晴 |
| Contributors | 洪境聰 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 0 |
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