Kou, Ying; Liu, Liming; Luo, Meifeng - In: Maritime Policy & Management 41 (2014) 4, pp. 303-327
We examine lead-lag relationships between new-building and second-hand ship prices. Our analysis shows the existence of a one-directional lead-lag relationship between two ship prices. The direction of lead-lag relationship is not affected by the time evolution and age of second-hand ships, but...