Since its introduction in the 1950s, containerised shipping has grown dramatically. Accompanying this growth has been a substantial growth in concentration. In this paper, we theoretically identify the effects of firm growth on concentration, and then examine the determinants of firm growth using panel data methods. We find that growth rates depend on firm size and attributes such as its average vessel size and the rate of growth in demand, that the growth patterns of the top firms point to a clear trend of increasing concentration in the industry, and that they are dramatically enhanced by mergers and acquisitions.
|Number of pages||17|
|Journal||Journal of Transport Economics and Policy|
|Issue number||PART 1|
|Publication status||Published - 1 Jan 2014|
ASJC Scopus subject areas
- Economics and Econometrics
- Management, Monitoring, Policy and Law