This book provides a comprehensive introduction to the economics of the business of maritime transport. It provides an economic explanation of four aspects of maritime transport, namely, the demand, the supply, the market and the strategy.

The book first explains why seaborne trade happens and what its development trends are; it then analyses the main features of shipping supply and how various shipping markets function; the book finally addresses the critical strategic issues of the shipping business. The full range of different types of shipping are covered throughout the chapters and cases. The book combines the basic principles of maritime transport with the modern shipping business and the latest technological developments, particularly in the area of digital disruption.

The ideas and explanations are supported and evidenced by practical examples and more than 160 tables and figures. The questions posed by the book are similar to those that would be asked by the students in their learning process or the professionals in the business environment, with the answers concentrating on the reasons for what has happened and will happen in the future rather than merely fact-telling or any specific forecast.

The book is most suited for students of shipping-related disciplines, and is also a valuable reference for maritime professionals.

As a result of globalization, strategies for investments in innovation capabilities have gained considerably in importance for businesses, research institutions and policymakers. Public policy has to provide conditions for investments in R&D and innovation that are internationally attractive and effective in stimulating innovation, economic growth and job creation. This book focuses on the changing roles and challenges of innovation and growth policy, and the strategies and measures that are critical in a globalizing world. It provides guidance for innovation policy strategy formulations and design of innovation policy measures.Globalization and the innovation imperative towards sustained economic growth require a major renewal and deepening of public policy thinking and strategies. This book focuses on these policy challenges, and the policy strategies and measures that are critical for innovation and growth in a globalizing world. Topics include: globalization and offshoring of software, the multilateral trading system and competition, innovative entrepreneurship, research frameworks and innovation awards, the globalization of converging nanotechnologies, and the relationship between knowledge and innovation. Science and technology policy makers, university professors and graduate students in public policy, innovation, business and economics will find much of value in this book.

Sweden has a long history of ambitious environmental, energy and climate policy. Due to the large amount of data available it is possible to perform statistically sound analysis and assess long term changes in productivity, efficiency, and technological development. The data at hand together with Sweden's ambitious energy and climate policy provides a unique opportunity to shed light on pertinent policy issues. The Impact of Climate Policy on Environmental and Economic Performance answers several key questions: What is the effect of the CO2 tax on environmental performance and profitability of firms? Does including emissions in productivity measurement of the industrial firm matter? Did the introduction of the EU ETS spur technological development in the Swedish industrial firm? What air pollutant is most inhibiting production when regulated? Being aware and learning from the Swedish case can be very relevant for countries that are in the process of shaping their climate policy. This book is of great importance to researchers and policy makers who are interested in environmental economics, industrial economics and climate change.

First published in 1999. Firms in manufacturing industries are influenced by the market-oriented liberalization reform policies in many developing countries since the late eighties. However, studies applying appropriate methodology to appropriate data seldom analyze the impact of reforms on the performance of production units such as manufacturing firms. The central point of this book is to address this issue by comparing firms' achievement with 'best practice' performance before and after reforms. This form of analysis is not new but it emphasizes a new focus or realignment of thinking within neoclassical economics to develop an analytical framework. This book examines the productivity growth of Bangladesh manufacturing firms as component measures of changes in capacity realization and technical progress. The significant feature of this approach is that it allows for the inefficiency of firms, and thus productivity growth is estimated rather than taking it as a residual as is usually measured in the traditional growth accounting approach. High rates of technological progress, on the one hand, can co-exist with low rates of capacity realization. On the other hand, relatively low rates of technological progress can co-exist with an improving capacity realization. As a result specific policy actions are required to address the difference in the sources of variation in productivity. In this respect this book would provide invaluable insights for policy makers, development practitioners, academics and students of economics.

Business networks are an important economic phenomenon of increasing practical importance throughout Europe. This volume examines business networks from an interdisciplinary perspective, with many contributions dealing with a certain form of business network, the so-called cooperative or non-hierarchical. With regard to this specific form of cooperation the volume presents new economic findings, proposes a definition and discusses the governance structure of those networks.Moreover, this book explores whether the research results can also be applied to hierarchical, centralized business networks. With medium-sized companies and all the more with large companies, business networks also pose the question of the compatibility with anti-trust law. This collection dedicates three contributions to this important question. They are complemented by chapters on liability of the network and its members towards third parties and contributions discussing duties of loyalty and the interpretation of agreements. Drawing on new research from Italy, Spain, Germany and Norway, this work illustrates the European legal perspective on business networks.

The economic climate is ripe for another golden age of shareholder activism

"Deep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations" is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active value investor, "Deep Value" provides an insider's perspective on shareholder activist strategies in a format accessible to both professional investors and laypeople.

The Deep Value investment philosophy as described by Graham initially identified targets by their discount to liquidation value. This approach was extremely effective, but those opportunities are few and far between in the modern market, forcing activists to adapt. Current activists assess value from a much broader palate, and exploit a much wider range of tools to achieve their goals. "Deep Value" enumerates and expands upon the resources and strategies available to value investors today, and describes how the economic climate is allowing value investing to re-emerge. Topics include: Target identification, and determining the most advantageous endsStrategies and tactics of effective activismUnseating management and fomenting changeEyeing conditions for the next M&A boom

Activist hedge funds have been quiet since the early 2000s, but economic conditions, shareholder sentiment, and available opportunities are creating a fertile environment for another golden age of activism. "Deep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations" provides the in-depth information investors need to get up to speed before getting left behind.

This book provides readers with a basic understanding of the principles that underlie real estate development. A brief historical overview and an introduction to basic principles are followed by examples from practice. Case studies focus on how cities change and respond to the economic, technological, social, and political forces that shape urban development in North America. It is important to have a framework for understanding the risks and rewards in real estate investing. In measuring return, consideration must be given to both investment appreciation and the cash flow generated over the life of a project. In addition, metrics are presented that can be useful in assessing the financial feasibility of a real estate development proposal. This book also provides an overview of the forces of supply and demand that gauge the potential market for a new project. In determining the size of "residual demand", estimates for population growth, family formation, and new development are important. All development projects fall under the auspices of one or several jurisdictions. Though every jurisdiction has different rules and procedures, basic knowledge of the planning process is critical to the success of all development projects regardless of location. Furthermore, all projects have a legal component. Basic issues of land ownership, property rights, property transfer, and land registration are reviewed, all of which need to be considered when a property is sold or purchased. This book also provides a primary on the design and construction process. In constructing a building, a team of experts is first required to design the architectural, structural, and heating, ventilation, and air conditioning (HVAC) systems for a building. An overview is provided of each building system: wood, concrete, and steel. Critical to a successful real estate development, project management principles for the processes of design, bidding, and construction are explored, with close attention given to budgeting, scheduling, and resource management. Essential reading for anyone involved in the development of our built environment, this is a must-read introduction for students and professionals in architecture, urban planning, engineering or real estate seeking an approachable and broad view of real estate development and finance.

This book, first published in 1936, offers the conception of the dynamics of the Key Economic Area as an aid to the understanding of Chinese economic history. By tracing their development through a historical study of the construction of irrigation and flood-control works and transport canals, it shows the function of the Key Economic Area as an instrument of control of subordinate areas.

Family businesses have been an important part of the economy in Hong Kong, Taiwan, Singapore, and in the Chinese diaspora, and, since the reforms, in mainland China itself. Some people have argued that the success of Chinese family businesses occurs because of the special characteristics and approach of such businesses. This book examines the nature of Chinese family business and the key issues involved by exploring in detail the case of a leading Hong Kong jewellery company which was established in the early 1960s and which has grown to become one of the biggest jewellery manufacturers, exporters, and retailers in post-war Hong Kong. The book considers the motivations of Chinese people to set up their own businesses, outlining the strategies adopted, including the strategies for raising capital, and the qualities of successful Chinese entrepreneurs. It discusses the management of the company, including relations between family members, profit sharing and succession planning, and assesses how conflict and crises are coped with and overcome. It charts the evolution of the company, looking at how it has been transformed into a listed corporation. The book concludes by arguing for the importance of studying Chinese family businesses culturally.

Social choice and decision-making are key topics in economic theory and Robert Urquhart delves into the world of philosophy in this superb new book.

Business strategy is becoming increasingly "pluralist", drawing on the insights of different disciplines, and business practice in different parts of the world. This book brings together the work and ideas of leading international scholars working in the field under three main headings - technology, strategy and organization, and regions. The purpose of the book is to explore from different perspectives the dynamic interplay between the technology of a firm - its strategies, organizational choices and issues of place, region, and location. The contributors are Peter Hagstrom, Alfred Chandler, Takahiro Fujimoto, Richard Nelson, Nathan Rosenberg, Erik von Hippel, Cristiano Antonelli, Giovanni Dosi, Benjamin Coriat, David Teece, Gunnar Hedlund, Pari Patel, Keith Pavitt, Ikujiro Nonaka, Hirotaka Takeuchi, Lars-Gunnar Mattsson, John Cantwell, John Dunning, Michael Enright, Masahisa Fujita, Ryoichi Ishii, Allen Scott, Orjan Solvell, Ivo Zander, J-C Spender, and Michael Porter. Together they address the challenge of explaining the long-run competitiveness of firms in an ever more global world.

Japan's postwar success in the assembly industries is frequently attributed to innovative approaches to the organization of production. Rather than relying on full-scale vertical integration, or arm's-length market transactions, Japanese assemblers have tended to forge intricate networks of long-term interfirm business relationships that have afforded them a host of advantages. As a result of global industry dynamics, such pyramidal production networks have come under mounting pressure and begun to give way to an increasing diversity of networks arrangements. This book's findings show how Japanese network arrangements have adapted in the Japanese electronics industry in order to cope with profound changes in the competitive environment and how the traditional production pyramids have begun to unravel. Japanese Interfirm Networks is the first book of its kind to focus wholly on analyzing the changes in production networks in the Japanese electronics industry and will be of enormous interest to those working in the areas of Japanese studies, Japanese business and industrial organization.

This book, originally published in 1984 by a group of leading international commentators on the oil market and major corporate figures int eh market, investigates the underlying forces determining the oil market in the 1970s and 80s. It also discusses the important indicators which point to how the energy market was likely to develop with separate chapters on oil, coal and nuclear power.

This book discusses the extent to whcih differences exist in the approach to energy management by different types of firms: large multidivisional firms at corporate headquarters level and division level and independent firms, energy intensive and non-energy intensive firms and growth and non-growth firms. Although originally published in 1984, the significance of the study is reflected by the continued timeliness and urgency of many of the issues covered such as the need for a national energy policy and the potential for improvement in industrial energy efficiency and conservation.

This title was first published in 2002. This compelling text provides fresh insight into an area that is often touched upon, but rarely examined in any great detail - the relationship between Multinational Enterprises (MNEs) and their host governments. Taking Japanese Foreign Direct Investment (FDI) strategy, arguably the model of FDI, Young-Chan Kim takes a revealing look at why the United Kingdom (UK) has dominated among the EU member states for FDI destination, while ironically losing its nationalized car manufacturers. Scholars of business history, international business and business economics will find this work invaluable.

This title was first published in 2003.During the 1990s research and technological development policies moved from a 'problem-solving' approach towards a wider one focusing on the systemic nature of the innovation process. This change can be featured as the transition from a technology policy towards an innovation policy. 'Innovation Policies in Europe and the US: The New Agenda' provides a comparative analysis of eleven highly industrialized countries' innovation policies in the 1990s, and addresses the nature, dynamics, causes and effects of this transition. By combining the analytical skills of sociologists, economists and political scientists the book sets up a novel framework for studying the evolution of this particular policy area by examining institutional change from a broader perspective.

Originally published in 1991, this comprehensive volume provides not only technical information regardig the global nuclear power industry, but also discusses the economic, social and political issues which have an impact on the industry. There are specific chapters on the nuclear industry in the USA & Canada, Western Europe, the former USSR and Eastern Europe and East Asia which examine in detail the particular set of geographical and economic conditions which affect each area. Including an extensive glossary, figures and tabulated information, this book remains one of the most accessible, impartial and thorough studies of the global nucelar industry.

This title was first published in 2003. This book provides a much-needed comprehensive and up-to-date treatise on financial distress modelling. Since many of the challenges facing researchers of financial distress can only be addressed by a totally new research design and modelling methodology, this book concentrates on extending the potential for bankruptcy analysis from single-equation modelling to multi-equation analysis. Essentially, the work provides an innovative new approach by comparing each firm with itself over time rather than testing specific hypotheses or improving predictive and classificatory accuracy. Added to this new design, a whole new methodology - or way of modelling the process - is applied in the form of a family of models of which the traditional single equation logit or MDA models is just a special case. Preliminary two-equation and three-equation models are presented and tested in the final chapters as a taste of things to come. The groundwork for a full treatise on these sorts of multi-equation systems is laid for further study - this family of models could be used as a basis for more specific applications to different industries and to test hypotheses concerning influential variables to bankruptcy risk.

The nature of corporate governance is a key determinant of corporate performance, and thereby of a country's overall economic performance, and corporate governance is therefore particularly important for China as it reforms, and grows, its economy. This book, based on extensive original economic analysis, examines key questions relating to corporate governance in China, including the relationship between ownership structure and corporate performance, the determinants of capital structure, and the nature of contemporary governance structures. It concludes - interestingly and controversially - amongst other things that corporate performance is positively related to ownership concentration, but negatively related to state ownership, and that contemporary corporate governance structures are heavily dependent on previous structures in the centrally-planned economy and on the path of transition to the market economy.

This title was first published in 2000: Administration, Ethics and Democracy is concerned with the disciplines of philosophy, political science and sociology. A~jvind Larsen's book provides a deeper analysis of the relations between administration, ethics and democracy. In modern society, it is no longer sufficient to be the obedient administrator Max Weber speaks about. The time is ripe to re-evaluate the overriding responsibilities of the administration. Today, responsible administration demands an independent position to be taken. A~jvind Larsen views the administration from the continuous complex demands it is required to meet and proposes that the professional role is not exempt from personal responsibility or position. Therefore it is crucial that the administrator has freedom of expression and the opportunity to discuss his problems with others. Ethics are a common concern and also a political problem in democratic society. This is why there is a close connection between administration, ethics and democracy.

This title was first published in 2000. Illustrated by a wide range of international case studies, this volume elaborates, extends and critiques one of the key models of local growth, which emphasizes learning, networking and 'embeddedness' in relation to the role of small and medium-sized firms (SMEs). In doing so, it provides a comprehensive understanding of the changing role of SMEs in an era of globalization.

Originally published in 1972, this volume, supplemented extensively with maps and tables, and employing sophisticated institutional and empirical analyses, discusses a number of important issues relating to the viability of the Trans-Alaska Pipeline and the natural environment. The author concludes that exploiting North Slope oil was justifiable as a calculated risk, although an alternative route and transport mode to the Midwest of eastern market would be more attractive than TAP.

This book, originally published in 1974, examines the changes that took place in the market position of the coal industry in the twentieth century. It examines in detail the position of the industry during the two World Wars, the problems of the inter-war years, the effects of nationalisation and the coal shortage after the Second World War, the decline of the markets in the 1960s and the consequences of the energy crisis of the early 1970s. The book analyses what problems the changes caused, and what measures were taken to try to overcome them. Looking in detail at the industrial disputes of 1971/2 and 1973/4 the book shows how the miners' actions fitted in closely with their past experiences and behaviour patterns.

This title was first published in 2002. Examining cluster development policy in Europe and outlining its distinctive features, this innovative text places it within the national context of regional policy-making. It also identifies the features supporting the successful development of industrial clusters and provides a clear overview of cluster theory and policy practice followed by seven key case studies on the history and operation of different cluster policies in Europe. While there has been a number of books on the theory of cluster development little research has been published on policy. By filling this gap, this book will be of interest to a policy-making audience as well as students and researchers of regional economic development throughout Europe.

The development of Nigeria's oil industry is examined comprehensively in this book, originally published in 1984. It charts the changing course of her economy and examines the dramatic effect oil has had on Nigeria's domestic and international policies. Oil has enabled her to command a powerful position in African affairs and within OPEC itself, but at the same time, has held back other forms of economic development. Nigeria's future in the oil industry, as well as in related fields such as gas, is assessed both in the light of her former policies and in the changing world economy. This book will be of interest to all concerned in the oil industry, international finance or world power politics.