1. Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea
- Author
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Frank Jensen, Christian Elleby, Jos op de Weegh, and Katell G. Hamon
- Subjects
Economics and Econometrics ,050208 finance ,Performance and Impact Agrosectors ,05 social sciences ,Fisheries ,LEI SECT & OND - Prestatie en Perspectief Agrosectoren ,Investment (macroeconomics) ,Preference ,Performance en Impact Agrosectoren ,Fishery ,pulse fishing ,Beam (nautical) ,investments ,0502 economics and business ,Economics ,050207 economics ,North sea ,Capital market ,conventional fishing - Abstract
In this study, we investigate whether the neoclassical economic theory, capital market frictions or preference-based theory can explain investment behaviour in the Dutch beam trawler fishery in the North Sea. By presenting a number of estimations, we show that vessels conducting pulse fishing invest substantially more than similar vessels undertaking conventional fishing, even after controlling for differences in such variables as capital stock, prices, profits and quotas. One possible explanation for this result is that vessel owners may obtain a separate benefit from investing in pulse fishing. In this study, we investigate whether the neoclassical economic theory, capital market frictions or preference-based theory can explain investment behaviour in the Dutch beam trawler fishery in the North Sea. By presenting a number of estimations, we show that vessels conducting pulse fishing invest substantially more than similar vessels undertaking conventional fishing, even after controlling for differences in such variables as capital stock, prices, profits and quotas. One possible explanation for this result is that vessel owners may obtain a separate benefit from investing in pulse fishing.
- Published
- 2018