ABSTRACT
The neoclassical economic model assumes that actors in the market have all available information and that no one benefits from having some extraordinary intelligence. This assumption is the basis for the efficient market hypothesis. Various economists have proposed the asymmetric information theory that points to possible irregularities or arbitrage opportunities in the market due to a lack of information, which creates particular advantage to a small selected group that gathers such information. A board of directors is full of chief execs, the shipowner, and also some independent directors. The shipowner requires good profits to compensate him for the huge capital risk he made. The difference between the top managers and the shipowner is the asymmetry of information. Effective asset play requires asymmetric information. As a researcher in the academic arena, the author notices that there is a basis for information asymmetry based on educational activities.
