Firm Growth and Market Concentration in Liner Shipping

Meifeng Luo, Lixian Fan and Wesley Wilson

Journal of Transport Economics and Policy, 2014, vol. 48, issue 1, 171-187

Abstract: Since its introduction in the 1950s, containerised shipping has grown dramatically. Accompanying this growth has been a substantial growth in concentration. In this paper, we theoretically identify the effects of firm growth on concentration, and then examine the determinants of firm growth using panel data methods. We find that growth rates depend on firm size and attributes such as its average vessel size and the rate of growth in demand, that the growth patterns of the top firms point to a clear trend of increasing concentration in the industry, and that they are dramatically enhanced by mergers and acquisitions. © 2014 LSE and the University of Bath

Date: 2014
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