Anna Merika

Curriculum Vitae

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Ausgewählte Publikationen

Corporate social responsibility disclosure: The case of international shipping

Wolfgang Drobetz, Anna Merika, Andreas Merikas, Mike G. Tsionas
Transportation Research Part E: Logistics and Transportation Review | 11/2014
Based on practices and legislation in the shipping industry, we construct a corporate social responsibility (CSR) disclosure index for listed shipping companies. We use Markov Chain Monte Carlo (MCMC) techniques for Bayesian inference, and we estimate the marginal effects of firm characteristics on CSR disclosure for each firm. Our results show a positive relationship between CSR disclosure and financial performance for each firm in our international sample. Firm size, financial leverage, and ownership structure are also associated with CSR disclosure. Our findings suggest that a majority of listed shipping companies have integrated CSR practices into their strategic planning and operations.

Determinants of management earnings forecasts: The case of global shipping IPOs

Wolfgang Drobetz, Dimitrios Gounopoulos, Anna Merika, Andreas Merikas
European Financial Management | 11/2017
Firms that go public on global stock markets are not obliged to disclose earnings forecasts in their prospectuses. We use this fact to examine the shipping industry, where most firms voluntarily issue earnings forecasts during the IPO process, thus providing unique, international‐level evidence. We find overall pessimistic forecasts of ship owners, primarily because of the industry's uncertain and volatile environment. High ship owner participation after going public is associated with less accurate earnings forecasts. Our results further indicate that financial leverage, a listing in an emerging stock market, and global market conditions are other main factors responsible for inaccurate earnings forecasts.