ABSTRACT
Maritime business is as old as the need of humans to transport goods. However, shipping companies in the modern era of maritime transport are looking up to a corporatist approach in their spectrum of business. This is evident from the gradual changes in internal structures and management (Notteboom 2004), the strategies adopted, such as strategic alliances (Panayides and Widmer, 2011), mergers, and acquisitions (Alexandrou et al. 2014) as well as the new approaches to raising finance (Merikas et al. 2009) that have inevitably lead to greater attention on corporate governance in the shipping industry.
