Search results for "Fish"
showing 10 items of 3164 documents
Speculation and lottery-like demand in cryptocurrency markets
2021
Abstract This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns appear to be short-memory processes, we modify Bali, Cakici and Whitelaw’s (2011) and Bali, Brown, Murray, and Tang’s (2017) MAX measure and employ a weekly forecast horizon and daily log-returns from the previous week to calculate the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk-adjusted return differences between cryptocurrencies in the lowest a…
Lo sviluppo sostenibile della pesca nella marineria di Mazara del Vallo
2011
In a place like Sicily, where sea fishing and port activities are part of the territory, history and culture, fishery has always been vital to man and, for this reason, today it must be studied, protected and helped in the difficult transition towards long-term sustainability. Fishing is a driving sector for Mazara economy both for number of working days during the fishing season, and for industrial activities operating around this field (transformation, packaging, and distribution). A micro-economic analysis was carried on a sample of fishing enterprises in order to analyze the problems of the here studied seamanship. The analysis is based on the employers’ interviews. The collected data h…
Motivations, adoption and impact of voluntary environmental certification in the Italian Forest based industry: The case of the FSC standard
2017
Abstract Over the past few years several private voluntary schemes have been developed worldwide to address the environmental issues in the forest based industry. Using survey data, this study analyse the main factors motivating companies operating in the Italian forest based industry to implement FSC (Forest Stewardship Council) standard, as a tool to promote responsible forest management and traceability of derived products, and the impact of this standard on the economic and organisational results. The findings provide evidences that signalling mechanisms drive the entrepreneurs towards the adoption of FSC certification, followed by moral and ethical reasons. In terms of impact, emerges …
The Consistency of Fairness Rules: An Experimental Study
2010
In the last two decades, experimental papers on distributive justice have abounded. Two main results have been replicated. Firstly, there is a multiplicity of fairness rules. Secondly, fairness decisions differ depending on the context. This paper studies individual consistency in the use of fairness rules, as well as the structural factors that lead people to be inconsistent. We use a within-subject design, which allows us to compare individual behavior when the context changes. In line with the literature, we find a multiplicity of fairness rules. However, when we control for consistency, the set of fairness rules is considerably smaller. Only selfishness and strict egalitarianism seem to…
Lobster reserves as a management tool in coastal waters: Two decades of experience in Norway
2022
9 pages, 4 figures.-- Under a Creative Commons license
Intention of coastal communities to support climate change mitigation policies for fish and marine ecosystem preservation
2021
Purpose This paper aims to assess the willingness of individuals living in coastal communities affected by climate change to financially support mitigation policies towards the preservation of marine ecosystems and fish resources and to identify the key drivers of their behaviour. Design/methodology/approach A survey was carried out involving 994 people living in three main Italian coastal communities. To investigate the main factors affecting Italian coastal communities’ willingness to pay (WTP) to support climate change mitigation measures to protect the marine ecosystem and fishery resources, a Tobit regression model was implemented. Findings The results show that these communities are …
Japan's FDI drivers in a time of financial uncertainty. New evidence based on Bayesian Model Averaging
2021
En este artículo analizamos los determinantes del stock de FDI saliente de Japón para el período 1996–2017. Este período es especialmente relevante ya que abarca un proceso de creciente globalización económica y dos crisis financieras. Para ello, consideramos un amplio conjunto de variables candidatas basadas en la teoría, así como en análisis empíricos previos. Nuestra muestra incluye un total de 27 países anfitriones. Seleccionamos las covariables utilizando una metodología basada en datos, el análisis Bayesian Model Averaging (BMA). Además, también analizamos si estos determinantes cambian según el grado de desarrollo (emergentes vs desarrollados) o las áreas geográficas (UE vs Asia Orie…
The criminal prosecution of illegal fishing and the jurisdiction of Spanish courts
2022
This paper examines the possibilities of criminally prosecuting illegal fishing in maritime zones based on crimes established in Spanish legislation. In order to carry out this analysis, a distinction has been made between prosecution based on the place in which acts of illegal fishing are committed (ratione loci), who is responsible for this illicit activity (ratione personae), and the criminal relevance of the incriminating conduct (ratione materiae). This reveals the scope of the criminal prosecution which Spanish courts can carry out and whether this is sufficient to guarantee marine biodiversity to the benefit of the international community.
Nonlinear dynamics of interest rate and inflation
2004
According to several empirical studies, US inflation and nominal interest rates, as well as the real interest rate, can be described as unit root processes. These results imply that nominal interest rates and expected inflation do not move one-for-one in the long run, which is not consistent with the theoretical models. In this paper we introduce a nonlinear bivariate mixture autoregressive model that seems to fit quarterly US data (1952 Q1 – 2000 Q2) reasonably well. It is found that the three-month treasury bill rate and inflation share a common nonlinear component that explains a large part of their persistence. The real interest rate is devoid of this component, indicating one-for-one m…
Linear and nonlinear interest rate sensitivity of Spanish banks
2011
Abstract Interest rate risk is one of the major financial risks faced by banks due to the very nature of the banking business. The most common approach in the literature has been to estimate the impact of interest rate risk on banks using a simple linear regression model. However, the relationship between interest rate changes and bank stock returns does not need to be exclusively linear. This article provides a comprehensive analysis of the interest rate exposure of the Spanish banking industry employing both parametric and non-parametric estimation methods. Its main contribution is to use, for the first time in the context of banks’ interest rate risk, a nonparametric regression technique…