The maritime transport sector (henceforth shipping sector) can be seen as the backbone of globalization since it transports 80% of the merchandise traded internationally (UNCTAD, 2008). It transported about 8.4 billion tons of merchandise throughout the world in 2010 (UNCTAD, 2011). Needless to...

The issue of capital structure of companies is one of the most debated problems of financial management. According to economic theory, capital structure determines the stock market value of firms and therefore their viability, while one of the most negative result of the crash of 2008 and the...