Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea
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Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea. / Jensen, Frank; Elleby, Christian; Hamon, Katell G.; op de Weegh, Jos.
In: Applied Economics, Vol. 51, No. 21, 2019, p. 2233-2248.Research output: Contribution to journal › Journal article › peer-review
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TY - JOUR
T1 - Testing theoretical explanations for investment behaviour in the Dutch beam trawler fishery in the North Sea
AU - Jensen, Frank
AU - Elleby, Christian
AU - Hamon, Katell G.
AU - op de Weegh, Jos
PY - 2019
Y1 - 2019
N2 - 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.
AB - 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.
U2 - 10.1080/00036846.2018.1540855
DO - 10.1080/00036846.2018.1540855
M3 - Journal article
VL - 51
SP - 2233
EP - 2248
JO - Applied Economics
JF - Applied Economics
SN - 0003-6846
IS - 21
ER -
ID: 208690888