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Economic valuation of a national shipping company using a contingent valuation method (CVM): The case of Korea
Marine Policy ( IF 4.315 ) Pub Date : 2021-11-25 , DOI: 10.1016/j.marpol.2021.104870
Taylor Tae-Hwee Lee 1 , Ae-rim So 2
Affiliation  

Due to the bankruptcy of Hanjin Shipping, which was the seventh-largest container liner, Korea’s liner shipping network had collapsed. When Hanjin Shipping entered legal management, shipping and port logisticians, mainly located in Busan in Korea, spoke consistently about the risk of its bankruptcy and damage. Their argument was that if Hanjin Shipping entered bankruptcy, consumer prices would move sharply higher due to domestic cargo being transported by foreign shipping companies. However, after the bankruptcy of Hanjin Shipping, there was no news that consumer prices in the Republic of Korea jumped. Regarding this point, most people not related to the shipping industry may think that the impact of the loss of Hanjin Shipping is not very different from the argument by shipping experts. Considering the above discussion, this paper raises the following questions. How much most people consider the shipping industry or shipping company to be important? To answer this research question, this paper estimates the economic value of a national shipping company by employing the contingent valuation method (CVM). As a result of the study, willingness to pay (WTP) for the national shipping liner’s bankruptcy was estimated to be 5007.99 Korean Won (KRW) (USD 4.34) per year, and the economic value of a national shipping company is KRW 104.623.66 million (USD 90.9 million) per year.



中文翻译:

使用条件估值法(CVM)对国家航运公司进行经济估值:韩国案例

由于第七大集装箱班轮韩进海运破产,韩国班轮运输网络崩溃。韩进航运进入法制经营阶段时,主要位于韩国釜山的航运和港口物流人员一直在谈论其破产和受损的风险。他们的论点是,如果韩进海运破产,由于国内货物由外国航运公司运输,消费价格将大幅上涨。不过,韩进海运破产后,韩国国内的消费物价上涨却没有消息。对于这一点,大多数与航运业无关的人可能认为,韩进航运亏损的影响与航运专家的说法没有太大区别。考虑到上述讨论,本文提出以下问题。大多数人认为航运业或航运公司有多重要?为回答这一研究问题,本文采用条件估值法(CVM)估算一家国家航运公司的经济价值。研究结果表明,国家航运公司破产的支付意愿(WTP)估计为每年 5007.99 韩元(KRW)(4.34 美元),国家航运公司的经济价值为 104.623.66 韩元百万(9090 万美元)每年。

更新日期:2021-11-25
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