Aquaculture Economics & Management最新文献

{"title":"Improving aquaculture productivity, efficiency and profitability in Bangladesh: Does land ownership matter?","authors":"Sandip Mitra, M. Khan, R. Nielsen, Md. Takibur Rahman","doi":"10.1080/13657305.2021.1983069","DOIUrl":"https://doi.org/10.1080/13657305.2021.1983069","url":null,"abstract":"Abstract This study examines the impact of land tenure systems on aquaculture farm productivity, efficiency, and profitability based on information obtained from interviews with 517 randomly selected aquaculture farms across Bangladesh. Propensity score matching (PSM) is used to estimate productivity variation, and the stochastic frontier production function (SFPF) is employed to analyze efficiency variation depending on aquaculture farms’ land ownership. The results reveal that the productivity and efficiency of cash tenant farms are significantly higher than those of self-owned farms, but that the land-owner extracts most of the associated profits through the rent. Furthermore, the efficiency of self-owned farms decreases with farm size, while the opposite is true for cash tenant farms.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"215 - 231"},"PeriodicalIF":3.9,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47265647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"List of reviewers for Aquaculture Economics & Management 2021","authors":"R. Botta, E. Brækkan, W. C. Brayden, Julia Bronnnmann, Carlos Ch avez, Uttam Deb, José M. Fernández-Polanco, T. Garlock, Dan Gordon, Venticia Hukom, Akhtaruzzaman Khan, D. Kidane, D. Knowler, Ignacio Llorente, Dave Love, M. Luna, Sandip Mitra, Oystein Myrland, Rune Nygård, T. Osmundsen, D. Petrolia, I. Pettersen, R. Pincinato, Andrew Ropicki, Leonardo Salazar, G. Shamshak, Geir Sogn-Grundvåg, Hans‐Martin Straume, Prasanna Surathkal, Dengjun Zhang","doi":"10.1080/13657305.2021.2020465","DOIUrl":"https://doi.org/10.1080/13657305.2021.2020465","url":null,"abstract":"Robert Botta Eivind Brækkan W. Christian Brayden Julia Bronnnmann Carlos Ch avez Uttam Deb Jose Fernandez-Polanco Taryn Garlock Dan Gordon Venticia Hukom Akhtaruzzaman Khan Dejene Kidane Duncan Knowler Ignacio Llorente Dave Love Manuel Luna Sandip Mitra Oystein Myrland Rune Nygård Tonje Osmundsen Daniel Petrolia Ingrid Pettersen Ruth Pincinato Andrew Ropicki Leonardo Salazar Gina Shamshak Geir Sogn-Grundvag Hans-Martin Straume Prasanna Surathkal Dengjun Zhang","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"25 1","pages":"504 - 504"},"PeriodicalIF":3.9,"publicationDate":"2021-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43194280","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Capital structure and firm performance: Agency theory application to Mediterranean aquaculture firms","authors":"Isaac Ankamah-Yeboah, R. Nielsen, Ignacio Llorente","doi":"10.1080/13657305.2021.1976884","DOIUrl":"https://doi.org/10.1080/13657305.2021.1976884","url":null,"abstract":"Abstract The study uses firm level panel data to determine performance-leverage relationships among Mediterranean aquaculture production firms in Croatia, Italy, Spain, France and Greece. A stochastic frontier production function is used to determine and define performance through firm level efficiency estimates. The multilevel internal instrument variable approach is employed to identify the causal relationships between performance and leverage. Our results show that technical efficiency has been increasing across all firms over the period 2008–2016. The agency-cost hypothesis holds such that leverage has an inverted U-shaped relationship with performance. This implies that leverage increases with efficiency, but efficiency begins to decrease at sufficiently higher levels of leverage. The reverse relationship confirms the franchise-value hypothesis, which states that firms with high efficiency will try to protect the value of their high income by holding more equity capital. Implications for the results are drawn for the Mediterranean region.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"25 1","pages":"367 - 387"},"PeriodicalIF":3.9,"publicationDate":"2021-09-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43195012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Profitability differences between public and private firms: The case of Norwegian salmon aquaculture","authors":"M. Sikveland, Ragnar Tveterås, Dengjun Zhang","doi":"10.1080/13657305.2021.1970856","DOIUrl":"https://doi.org/10.1080/13657305.2021.1970856","url":null,"abstract":"Abstract Capital requirements increase as aquaculture becomes more industrialized, with firms increasing their scale of production and capital intensity. Public listing at stock exchanges can provide improved access and cheaper financing for firms. Since the public listing is a fairly recent phenomenon and relatively few aquaculture firms have entered stock markets, it is useful to investigate the differences in profitability among listed and private aquaculture firms. Our econometric estimates based on a unique panel dataset of Norwegian salmon companies indicate that the sources of profitability, as measured by return on assets (ROA), are different among the two groups of companies. Listed companies are able to increase profitability through working capital optimization; however, they are more negatively affected by operating leverage and liquidity. This indicates that using liquidity as a risk reduction measure is costly in the industry. Although private firms have historically performed better on average in terms of ROA, the difference is not statistically different.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"414 - 438"},"PeriodicalIF":3.9,"publicationDate":"2021-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47761561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impact of microcredit on the household income and expenditure of the fish farmers: Bangladesh perspective","authors":"Kazi Tanvir Mahmud, A. Haque, I. Wahid, A. Parvez, Fahima Kabir","doi":"10.1080/13657305.2021.1963350","DOIUrl":"https://doi.org/10.1080/13657305.2021.1963350","url":null,"abstract":"Abstract Access to credit is a major limitation for small-scale fish farmers in Bangladesh in pursuing their fish farming activities. One attempted remedy is that NGOs have created microcredit facilities to address this limitation. This study empirically assesses the impact of microcredit on the economic welfare of the poor fish farmers in the Mymensingh district of Bangladesh. Opinions of the fish farmers toward their economic well-being under microcredit programs have also been assessed by using the Binary Logistic Regression technique. Our empirical findings support the existing literature that access to credit can significantly contribute to the expansion of the economic welfare of the fish farmers in terms of household income and expenditure. Furthermore, our study demonstrates that an overwhelming proportion of the fish farmers has expressed satisfaction toward microcredit programs for uplifting their living-standard on economic indicators.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"118 - 130"},"PeriodicalIF":3.9,"publicationDate":"2021-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43695868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Who responds to health, environmental, and economic information about local food? Evidence from Connecticut seafood consumers","authors":"Yixing Tian, Rose Croog, John Bovay, Anoushka Concepcion, Tessa L. Getchis, Miriah Kelly","doi":"10.1080/13657305.2021.1945166","DOIUrl":"https://doi.org/10.1080/13657305.2021.1945166","url":null,"abstract":"Abstract We designed and implemented a discrete choice experiment to assess how information about the health, environmental, and economic benefits of locally produced aquaculture products affect Connecticut consumers’ willingness to pay (WTP) for products produced in the state, as compared with products from another state or another country. We find that information about local economic benefits tended to increase WTP for Connecticut-grown and -raised products, whereas information about health, safety, and the environment tended to decrease WTP for products from other regions. We also explore heterogeneous effects of the information treatments by respondent gender, education, and income.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"131 - 151"},"PeriodicalIF":3.9,"publicationDate":"2021-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/13657305.2021.1945166","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46622119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Salmon futures and the Fish Pool market in the context of the CAPM and a three-factor model","authors":"C. Ewald, Erik Haugom, Leslie Kanthan, Gudbrand Lien, P. Salehi, S. Størdal","doi":"10.1080/13657305.2021.1958105","DOIUrl":"https://doi.org/10.1080/13657305.2021.1958105","url":null,"abstract":"Abstract Futures on fresh farmed salmon traded at the Fish Pool market in Norway are analyzed in the context of the Capital Asset Pricing Model (CAPM) and a corresponding three-factor model where contracts are separated based on their maturities. Looking into 1 month; 6 months and 12 months contracts, we find that all alphas and most betas are statistically insignificant. We conclude that the CAPM equilibrium condition holds and that Salmon futures prices move largely uncorrelated with the market portfolio and therefore offer no systematic risk premium. The latter documents that Fish Pool futures should be considered as a pure hedging instrument rather than an investment asset.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"171 - 191"},"PeriodicalIF":3.9,"publicationDate":"2021-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/13657305.2021.1958105","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47698658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic tradeoffs and risk between traditional bottom and container culture of oysters on Maryland farms","authors":"C. Engle, Jonathan van Senten, Matthew O. Parker, D. Webster, Charles Clark","doi":"10.1080/13657305.2021.1938295","DOIUrl":"https://doi.org/10.1080/13657305.2021.1938295","url":null,"abstract":"Abstract Availability of new oyster production methods offers a variety of choices for oyster farmers that include the overall business model, marketing strategy, scale of production, and the production method. Cost structures and relative profitability vary across production methods, scales, and business models. Maryland oyster farms were used as the basis for an assessment of the relative economic tradeoffs among traditional and newer, more intensive, production methods based on farm-level data. Oyster farmers in Maryland were interviewed in 2018 and 2019 to collect data from farm records on expenditures, prices, investment in equipment and facilities, and common problems. Production method/scale categories identified included annual production levels of ≤200 bushels and >200 bushels for traditional bottom culture and ≤6,000 and >6,000 boxes (100-count) for container culture. Cost structures were identified for each category, and accounting and economic net returns (profit) calculated for each (in $/bushel for traditional bottom culture and $/box for container culture). Stochastic dominance for profitability was assessed across the four farming categories. Cost structures differed substantially across the four categories, with fuel the greatest expense for traditional bottom culture farms and labor, followed by marketing costs, the greatest expenses for container culture farms. All categories were profitable based on accounting net returns, but only the large-scale farms for each production method were profitable in terms of economic net returns. The most profitable category was the large-scale container culture category followed by the large-scale bottom culture category, but the larger traditional bottom culture category was the least risky (by first-order stochastic dominance). Risk was substantially greater for the larger container culture category and for the smaller bottom culture category. Continued Extension support is needed to provide assistance with comprehensive business financial planning and risk mitigation (including efforts to reduce yield variability), especially for startup farms seeking to grow to provide full-time salaries for owners/operators.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"25 1","pages":"472 - 503"},"PeriodicalIF":3.9,"publicationDate":"2021-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/13657305.2021.1938295","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47041614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Assessment of the impacts of social capital on the profit of shrimp farming production in the Mekong Delta, Vietnam","authors":"Duong The Duy, Trinh Quoc Trung, T. Lan, H. Berg, Chau Thi Da","doi":"10.1080/13657305.2021.1947414","DOIUrl":"https://doi.org/10.1080/13657305.2021.1947414","url":null,"abstract":"Abstract This study assesses capital assets and factors influencing on farmers’ decision to participate in social networks, and how these contribute to and affect household’s profits of small-scale shrimp farmers in four coastal provinces in the Mekong Delta, Vietnam. Data was collected through observations, and informal discussions and interviews with 350 small-scale shrimp farmer households. The results show that farmer’s age, education of household head, dependency ratio, village residence time, village population density are important factors influencing positively on shrimp farmers´ participation in social networks. The study also shows that contacts with fisheries association, traders, wholesale agencies, trust, household savings, labors’ education, household’s agricultural land size, post larvae quality and equipment significantly influenced on the profit variable with 1–10%. The results also indicate that a 10% increase in social capital would bring an increase in household income of 3.9%.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"26 1","pages":"152 - 170"},"PeriodicalIF":3.9,"publicationDate":"2021-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/13657305.2021.1947414","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47355636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impacts of the COVID-19 pandemic response on aquaculture farmers in five countries in the Mekong Region","authors":"L. Lebel, Khin Maung Soe, Nguyen Thanh Phuong, H. Navy, Phouvin Phousavanh, T. Jutagate, P. Lebel, Liwa Pardthaisong, M. Akester, B. Lebel","doi":"10.1080/13657305.2021.1946205","DOIUrl":"https://doi.org/10.1080/13657305.2021.1946205","url":null,"abstract":"Abstract Public health measures aimed at reducing the spread of COVID-19 can have significant, unintended impacts on livelihoods. In this paper, we assess the impacts of responses to the COVID-19 pandemic on aquaculture farmers in five countries in the Mekong Region. A total of 1,019 farmers were surveyed (June–August 2020). The COVID-19 pandemic reduced farmer mobility, disrupted input and produce logistics, and reduced consumer demand, which in turn, reduced net income relative to expectations and increased the likelihood of making a net loss in the first half of 2020. Large aquaculture farms were more likely to experience adverse impacts from higher input prices and lower fish market prices than small farms. Intensive and commercial farms were more likely to be affected by supplier and buyer logistic disruptions. Coping responses included adjustments to stocking practices, reducing labor inputs, finding new markets, drawing on savings, and borrowing money. Large farms were more likely to seek new markets and borrow money. Easier loan conditions and direct cash handouts by governments helped in some locations and were desired in others. Significant differences among countries in impacts and responses reflect market and trade dependencies, as well as government capacity and willingness to support the aquaculture industry.","PeriodicalId":48854,"journal":{"name":"Aquaculture Economics & Management","volume":"25 1","pages":"298 - 319"},"PeriodicalIF":3.9,"publicationDate":"2021-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/13657305.2021.1946205","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49304956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}