The Construction of Secondhand Ship Price Index-An Application of Chain Hedonic Regression Model

• Main Authors: Kai-Lang Chen, 陳凱郎
• Other Authors: Wei-Ming Wu
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/87832616124118664334

碩士 === 國立高雄第一科技大學 === 企業管理研究所 === 98 === Because containership have heterogeneity goods of attributes in the maritime market, some studies began to use Hedonic price theory to measure the secondhand containership price. Due to adopt the approach that academic assessment of the regression model will be changed in trouble because of the new entry data, first this paper distinguish between secondhand containership price and Maritime Index from the price change of secondhand containership of the market supply and demand changes in the economy, and applied secondhand containership various characteristic factors to removing the influence of cost-related attributes of containership, and use Chain Hedonic Regression Model to measure again, and revealing the only effect of market variations on the Maritime Index. Our empirical findings: Evaluation Maritime market index measured only to use secondhand containership price, or freight Rate, or traditional the weighted average method, will easily lead to the prevailing price index which may present an overreaction to the market variations, and use Chain Hedonic regression construct "Maritime Index", not only can solve by adding new data generated indices of trouble, it really reflects the prosperity of the international maritime market fluctuations and changes in the value of various properties of the containership.