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Investment preference for either technical or operational energy efciency measures to achieve sustainable maritime shipping
dc.contributor.author | Longarela-Ares, Ángeles | |
dc.contributor.author | Calvo-Silvosa, Anxo | |
dc.contributor.author | Pérez-López, José-Benito | |
dc.date.accessioned | 2024-05-30T07:33:32Z | |
dc.date.available | 2024-05-30T07:33:32Z | |
dc.date.issued | 2023 | |
dc.identifier.citation | Longarela-Ares, A., Calvo-Silvosa, A. & Pérez-López, J-B. (2023). Investment preference for either technical or operational energy efficiency measures to achieve sustainable maritime shipping. Environment, Development and Sustainability. https://doi.org/10.1007/s10668-023-03991-7 | es_ES |
dc.identifier.issn | 1387-585X | |
dc.identifier.uri | http://hdl.handle.net/2183/36726 | |
dc.description.abstract | [Abstract]: The reduction in energy consumption in shipping is a crucial issue to achieve a more sustainable sector. Nevertheless, investments in energy efciency are inhibited by barriers. Consequently, under a Principal-Agent approach, this study aims to analyze the factors afecting the investment preference for either technical or operational measures. To date, the research problem has barely been addressed from a similar approach. This work further integrates agency theory with the identifcation of barriers and drivers, as well as the cost– beneft ratio from both an environmental and a fnancial perspective. This makes it possible to consider shipping management from a more comprehensive perspective. The study sample is current and representative (658 individual bulk carriers). The research was carried out utilizing two binominal logistic models that provide similar results when testing the proposed hypotheses. The outcomes show that regulatory factors, such as the distance of a vessel’s technical emissions from EEDI requirements (standardized coefcients: −2.8352 and −2.5069), and Principal-Agent problems, such as split incentives (standardized coefcients: −1.0059 and −0.9828), have the greatest infuence on investment preferences. As a consequence of Principal-Agent problems, vessels operating under Time Charter contracts are less likely to invest in technical measures than in operational ones. Verifed information and activity promote technical measures. Maritime regulation promotes technical measures in younger vessels, especially those meeting only the minimum requirements. Better knowledge can help achieve a more environmentally responsible shipping sector. The role of shipowners and charterers should be highlighted, and transparency should be promoted to enable well-informed decisions to be made. | es_ES |
dc.description.sponsorship | Open Access funding provided thanks to the CRUE-CSIC agreement with Springer Nature. This research was supported by the Agencia Estatal de Investigación (Ministerio de Ciencia, Innovación y Universidades) under the research project with reference RTI2018-100702-B-I00, co-funded by the European Regional Development Fund (ERDF/FEDER) and the Consellería de Cultura, Educación e Ordenación Universitaria, Xunta de Galicia, Grant Number Ref. ED481A-2015/224 “Axudas á etapa predoutoral” Galician Plan of research, innovation and growth 2011–2015 (Plan I2C). Funding for open access charge: Universidade da Coruña/CISUG. | es_ES |
dc.description.sponsorship | Xunta de Galicia; ED481A-2015/224 | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Springer | es_ES |
dc.relation.uri | https://doi.org/10.1007/s10668-023-03991-7 | es_ES |
dc.rights | Atribución 4.0 Internacional | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by/3.0/es/ | * |
dc.subject | Agency theory | es_ES |
dc.subject | Barriers | es_ES |
dc.subject | Binomial logistic regression | es_ES |
dc.subject | Drivers | es_ES |
dc.subject | Investment decisions | es_ES |
dc.subject | Maritime transport | es_ES |
dc.title | Investment preference for either technical or operational energy efciency measures to achieve sustainable maritime shipping | es_ES |
dc.type | journal article | es_ES |
dc.rights.accessRights | open access | es_ES |
UDC.journalTitle | Environment, Development and Sustainability | es_ES |
dc.identifier.doi | https://doi.org/10.1007/s10668-023-03991-7 | |
UDC.coleccion | Investigación | es_ES |
UDC.departamento | Empresa | es_ES |
UDC.grupoInv | Grupo de Investigación en Regulación, Economía e Finanzas (GREFIN) | es_ES |
dc.relation.projectID | info:eu-repo/grantAgreement/AEI/ Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/ RTI2018-100702-B-I00/ES/ RIESGOS CLIMATICOS, ESTABILIDAD FINANCIERA Y DECISIONES DE INVERSION EN LOS MERCADOS FINANCIEROS | es_ES |
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Investigación (FEE) [923]