Growth of Firms

Y. H. Venus Lun (), Kee-hung Lai (), T. C. Edwin Cheng () and Dong Yang ()
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Y. H. Venus Lun: Logistics and Supply Chain MultiTech R&D Centre
Kee-hung Lai: The Hong Kong Polytechnic University
T. C. Edwin Cheng: The Hong Kong Polytechnic University
Dong Yang: The Hong Kong Polytechnic University

Chapter Chapter 6 in Shipping and Logistics Management, 2023, pp 85-97 from Springer

Abstract: Abstract There are two key functions in managing business operations, namely the exchange and value-added functions. The exchange function coordinates input, whereas value is added by the firm engaged in a series of transformations. The combination of the exchange and value-added functions determines a firm’s performance. Another important factor affecting firm performance is the growth of the firm. This chapter empirically examines the exchange and value-added functions in the container shipping industry. The findings imply that the price on the product market, i.e., freight rate, is positively related to the total production capacity of the industry, but the price on the factor market, i.e., price of ships, is not a significant factor influencing the decision of container shipping firms to adjust their fleet sizes.

Date: 2023
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DOI: 10.1007/978-3-031-26090-2_6

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