| Summary: | 碩士 === 大葉大學 === 管理學院碩士在職專班 === 104 === Recently the shipping industry has been dramatically impacted by the economic recession. According to a Thomson Reuters report, the growth of the freight ship companies will limited between 1-3% for 2015, lower than the expected growth of 2-4%, declared the Maersk Group on 6 Nov 2015. This is obviously a significant indicator for the coldness of the shipping market. Many factors like the economic recession have influenced the growth and performance of a freight ship company. This study analyzes the main factors and the related issues that influence the growth of the freight companies by looking at the three financial dimensions of performance and nine major indicators, and provides suggestions for their future development.
This study aims to investigate the differentiations of nine financial ratios between two shipping companies, namely Evergreen Marine Corp. and Yang Ming Marine Transport Corp., including Operation Margin, Operation Profit Margin, Net Income Per Share, Current Ratio, Quick Ratio, Debt Ratio, Receivable Turnover Ratio, Average Turnover Per Employee, and Fixed Asset Turnover. The results of the Independent-Sample t Test indicate that both the operation margin and debt-paying ability of Evergreen are significantly superior to those of Yang Ming, the reason the former, being the market leader, still has an edge over the latter. On the other hand, Yang Ming noticeably surpasses Evergreen in the performance of Receivable Turnover Ratio, Average Turnover Per Employee, and Fixed Asset Turnover, which suggests that Yang Ming has gradually become a competitor to Evergreen.
Key Words: Listed Freight Ship Company, Operation Performance, Financial Ratio
|
|---|
