Tanker (dirty) operational areas are identified with the help of itineraries and their profitability is estimated with time charter equivalent (TCE, $/day). The level is heavily influenced by the way waiting between cargo cycles is handled. Four alternatives are tried, planned (‘optimal’),...

A simulation model of individual ship movements demonstrates that distance-weighted regional imbalances of tonnage supply and demand are powerful estimators of tanker rates that are converted to approximate time charter equivalents. Statistical fit is acceptable to good when cargo cycles...

Deregulation and increasing cross-border competition in the financial industry are affecting not only firms but also those organisations that provide markets, i.e., stock exchanges. The process of changing governance structures is exemplified in this paper by the case of Deutsche Börse AG, the...

National borders are still strong barriers for mergers and acquisitions in Europe. We estimate a gravity equation model based on NUTS 2-regions and find that the restraining impact of national borders decreased by about a third between 1990 and 2007. However, there has been no significant change...

In this paper, we first discuss the notion of „important financial centres“ and the socio-economic and political conditions which need to be fulfilled for such a centre to exist. We then address the issue of the so-called “end of geography” which has attracted a lot of attention...