Factors Affecting Alaska’s Salmon Permit Values: Evidence from Bristol Bay Drift Gillnet Permits
Journal Title: Review of Economics & Finance - Year 2017, Vol 10, Issue 4
Abstract
The effects of total earnings, total costs and mining exploration on permit prices in Alaska are investigated using an autoregressive distributed lag (ARDL) approach to cointegration. We take specific account of regional and gear specific salmon fisheries – that is, Bristol Bay drift gillnet permits – in our modelling. We find that there is a stable long-run relationship among permit prices, total earnings, and total costs. It is also found that, in both the short- and long-run, total earnings have a positive and significant relationship with permit prices, while total costs have a negative and significant relationship. Although the mining exploration in the region has a negative and significant effect on permit prices in the short-run, the effect does not seem to last in the long-run.
Authors and Affiliations
Mackenzie D. Wood, Jungho Baek
Keywords
Related Articles
- EP ID EP258233
- DOI -
- Views 104
- Downloads 0
Effect of Intellectual Capital on Firms’ Competitive Advantage Condition: An Empirical Investigation in India
This paper aims to model the effect of intellectual capital on firms’ competitive advantage condition across selected Indian industries. Using a panel dataset consisting of 146 Indian companies listed in the Bombay Stock...
The Asymmetric Impact of Portfolio Mix on Bank Performance over the Business Cycle: U.S. and Canadian Evidence
We analyze the dynamic linkage between fee-based income and bank performance link-age in the aftermath of the crisis. Surprisingly, our time series approach suggests that the share of fee-based income keeps contributing...
The Development of the Net Present Value (NPV) Rule – Religious Prohibitions and Its Evolution
This paper describes the development of the net present value (NPV) rule. Today, net present value is a globally accepted methodology for investment appraisal in companies. Compared to other management techniques, net pr...
A Potential Contradiction Between Economic Theory and Applied Finance
One of the basic premises that underlies economic theory in Finance is the assumption of declining marginal utility of income. This assumption imposes risk-aversion on the investors and is necessary requirement to an equ...
An Empirical Analysis of UK House Price Risk Variation by Property Type
This paper examines the different risk and return profiles of four different property types in England and Wales, both nationally and by region. The property types include flats, terraced houses, semi-detached and detach...