| Development of the shipping industry shows that this is a highly volatile industry, it will inevitably lead to volatility of the shipping company. Shipping market is mainly composed of three parts, including bulk shipping market, container shipping market, energy transport market, Treat the above three markets as a breakthrough is particularly important, it can reflect the status of the shipping business, It’s conducive to all market participants at all levels of the shipping market fluctuations understanding corporate earnings, while for government agencies conduct industry support and supervision of important reference value.From the perspective of shipping enterprises, it can participate in the proceeds of the various shipping markets research earnings fluctuations shipping companies, for this study with the characteristics of the problem, it will be used to study the volatility of financial markets. GARCH model introduced in the shipping market, from the vector angle analysis of earnings fluctuations are analyzed from various angles trying to depict the volatility of earnings gains shipping business units to identify mutual influence relations between the various markets.Results of this study show that the rate of return shipping enterprises are not subject to the general sequence of the normal distribution. Shipping companies engaged in different markets in response to the impact of the external environment, the return series show different degrees of sensitivity and sustainability characteristics. Shipping enterprises leverage earnings time series, which engaged in tanker shipping companies on the "bad" news is very sensitive to the impact that is, from a negative impact on the external environment arising from the enterprise to earnings volatility caused by the same degree of positive impact than the result the fluctuations, and unit revenue in dry bulk and container shipping companies to transport the positive impact caused by the external environment is more sensitive. |
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