Home > Research > Publications & Outputs > The option to change the flag of a vessel

Research

Text available via DOI:

View graph of relations

The option to change the flag of a vessel

Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter

Published

Standard

The option to change the flag of a vessel. / Tsekrekos, Andrianos; Kavussanos, Manolis.
International handbook of maritime business. ed. / Kevin Cullinane. Cheltenham: Edward Elgar, 2010. p. 47-62.

Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Chapter

Harvard

Tsekrekos, A & Kavussanos, M 2010, The option to change the flag of a vessel. in K Cullinane (ed.), International handbook of maritime business. Edward Elgar, Cheltenham, pp. 47-62. https://doi.org/10.4337/9780857930866

APA

Tsekrekos, A., & Kavussanos, M. (2010). The option to change the flag of a vessel. In K. Cullinane (Ed.), International handbook of maritime business (pp. 47-62). Edward Elgar. https://doi.org/10.4337/9780857930866

Vancouver

Tsekrekos A, Kavussanos M. The option to change the flag of a vessel. In Cullinane K, editor, International handbook of maritime business. Cheltenham: Edward Elgar. 2010. p. 47-62 doi: 10.4337/9780857930866

Author

Tsekrekos, Andrianos ; Kavussanos, Manolis. / The option to change the flag of a vessel. International handbook of maritime business. editor / Kevin Cullinane. Cheltenham : Edward Elgar, 2010. pp. 47-62

Bibtex

@inbook{23c42f32e4c34031ba1623e428d48627,
title = "The option to change the flag of a vessel",
abstract = "The objective of this paper, in recognition of the strategic significance of the ship registration decision, is to provide a theoretical framework that helps explain the interaction of factors that influence the decisions to register a 'flag of convenience.' This highlights the risk-return trade-off that is at its core. A decision problem is formulated as a switching option under the assumptions of uncertainty and costly reversibility. It is shown that the likelihood and timing of registry switching decisions can be affected by uncertainties over the level of savings in tax and labour costs that accrue from 'flagging-out,' as well as the level of correlation of a vessel's operation with the market portfolio. The authors' model shows that the optimal flag-switching policy for a maritime firm can be influenced by a number of factors and offers a practical method for assessing the available alternatives for fleet registration.",
author = "Andrianos Tsekrekos and Manolis Kavussanos",
year = "2010",
doi = "10.4337/9780857930866",
language = "English",
isbn = "9781847209344",
pages = "47--62",
editor = "Kevin Cullinane",
booktitle = "International handbook of maritime business",
publisher = "Edward Elgar",

}

RIS

TY - CHAP

T1 - The option to change the flag of a vessel

AU - Tsekrekos, Andrianos

AU - Kavussanos, Manolis

PY - 2010

Y1 - 2010

N2 - The objective of this paper, in recognition of the strategic significance of the ship registration decision, is to provide a theoretical framework that helps explain the interaction of factors that influence the decisions to register a 'flag of convenience.' This highlights the risk-return trade-off that is at its core. A decision problem is formulated as a switching option under the assumptions of uncertainty and costly reversibility. It is shown that the likelihood and timing of registry switching decisions can be affected by uncertainties over the level of savings in tax and labour costs that accrue from 'flagging-out,' as well as the level of correlation of a vessel's operation with the market portfolio. The authors' model shows that the optimal flag-switching policy for a maritime firm can be influenced by a number of factors and offers a practical method for assessing the available alternatives for fleet registration.

AB - The objective of this paper, in recognition of the strategic significance of the ship registration decision, is to provide a theoretical framework that helps explain the interaction of factors that influence the decisions to register a 'flag of convenience.' This highlights the risk-return trade-off that is at its core. A decision problem is formulated as a switching option under the assumptions of uncertainty and costly reversibility. It is shown that the likelihood and timing of registry switching decisions can be affected by uncertainties over the level of savings in tax and labour costs that accrue from 'flagging-out,' as well as the level of correlation of a vessel's operation with the market portfolio. The authors' model shows that the optimal flag-switching policy for a maritime firm can be influenced by a number of factors and offers a practical method for assessing the available alternatives for fleet registration.

U2 - 10.4337/9780857930866

DO - 10.4337/9780857930866

M3 - Chapter

SN - 9781847209344

SP - 47

EP - 62

BT - International handbook of maritime business

A2 - Cullinane, Kevin

PB - Edward Elgar

CY - Cheltenham

ER -