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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
> Journal Vol & Issue
The Journal of Fisheries Business Administration
Journal Basic Information
Journal DOI :
The Korean Society of Fisheries Business Adminidtration
Editor in Chief :
Volume & Issues
Volume 40, Issue 3 - Dec 2009
Volume 40, Issue 2 - Sep 2009
Volume 40, Issue 1 - Jun 2009
Selecting the target year
A Study on Efficiency Estimation of Aquaculture : the Case of the Korean Seaweed Farms
Seo, Ju-Nam ; Song, Jung-Hun ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 1~26
The aquaculture management considers the maintenance of households lifehood more than profit maximization. As aquaculture industry has developed enterprise farms appeared, and the small and the large scale farms coexist. The features of coexistence could be summarized as followings. First of all, the large scale farms show the higher net profit while the small scale farms show the higher profit per 1ha and the earning rate. Secondly, in the case of over 2ha, the earning rate is stable in spite of the scale expansion. Moreover, in processing method, dried seaweed occupy the biggest proportion in the small scale farms while the raw seaweed occupy the biggest proportion in the large scale farms. Lastly, the scale of farms becomes larger, the participation rate of household labor rises. This thesis analyses the efficiency of Korean seaweed farms in the way of DEA model and suggests the improvements for the efficiency management. The mean technical, pure technical and scale efficiencies were measured to be 0.88, 0.96 and 0.91, respectively. Among the 20 farms included in the analysis, 10 were technically efficient and 12 were scale efficient. In conclusion, it is shown that the aquaculture farms has been becoming the form of coexistence. This appearance results in the effort for reducing the cost in the small scale farms and in profit maximization in the large scale farms. On the other hand, middle scale farms is inefficient compared with the small or large scale farms. Therefore, in order to achieve the efficiency, it is necessary to accomplish economy of scale by extending farm size or to cut expenses by reducing farm area. In other word, the efforts for achieving the efficiency is required in a different direction in spite of the same scale.
The Effect of Price Competition Structure and Change of Exchange Rate among Exports Countries to the Korea's Fish Import Market
Kim, Ki-Soo ; Lim, Eun-Son ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 27~49
Recently, the Korea's economy concerns the second money crisis because of the rapid increase of the exchange rate. The Korea's economy which is very dependent on the foreign trade is more sensitive to the change of exchange rates. There are many literatures which analyze the effects of variations of the exchange rates on the secondary and tertiary industries such as the manufacturing industry and IT(Information Technology). But there have been no studies which try to figure out the effects of variations of exchange rate on the primary industries, especially, fisheries' industry. Therefore this paper tries to analyze the effect of price competition structure and the change of exchange rate on foreign fisheries exporting prices in Korea's fisheries import market. This study utilizes OLS(Ordinary Least Squares Analysis) for the analysis in the market of frozen yellow corvina, hairtail, angler fish which are major fisheries importable in Korea. The results show that the exporting country which has the highest market share is more sensitive to the change of the exchange rates itself than that of the other exporting countries' price when it starts to set up its exporting price. And the exporting countries which have low market share are more sensitive to the change of price which country has the highest market share than that of price whose countries have low market share and those of their exchange rate. Also we can find out that the countries which have similar market share try to set up price-setting strategy in the opposite direction. In other words, one country tries to bid up its price, other countries response to rival country by lowering their prices. In the consideration of the fact that most exporting countries aren't affected by Korea's fisheries' prices, the exporting countries in Korea's fisheries import market are more sensitive to the prices of other exporting countries than that of Korea's. This result indicates that the price leader-follower model could be applicable to the Korea's fisheries import market.
A Study on the Efficiency and Information for Future Market of Japan's Frozen Shrimp
Rhee, Byung-Kun ; Jeon, Hye-Min ; Kim, Ki-Soo ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 51~74
The purpose of this study is to ascertain that how the futures market of the Japanese frozen shrimp that is the only fisheries asset all over the world can be efficient. Accordingly, this paper examines efficiency and information flow of the Japanese frozen shrimp market using data from Kansai Commodities Exchange frozen shrimp futures closing prices and spot prices. And then this paper estimates a forward price model using that data. From the model, risk premium is estimated and we could also analyse the future information flow into the futures market which reveals future spot prices. This thesis reached to conclusions as follows: First, the null of zero risk premium is rejected and the value of that is negative. Second, the time pattern of information flow into the futures market is that most of the information on future price arrives within a week and for the last week, most of relevant information is already incorporated. The result of this study contrasts with that of Stockman(1978) about currency futures market of U.S.
Estimating Volumes and Expenditures of Inland Water Fish Consumption
Lee, Hee-Chan ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 75~96
The objective of this research was to estimate the size of consumption market for inland water fishes. Volumes and expenditures of a total of sixteen fishes consumed in 2007 were estimated based on a module developed. Data were collected through sample surveys of 3,081 households and 291 restaurants dealing with inland water fishes. On the basis of the results, people consumed an estimated 39.5 thousand ton as a whole on inland water fishes. An average person consumed 5.961 times and 1.136kg per year. An annual expenditure of 1,609.7 billion won was estimated. The total was divided 1,450.1 billion won on fishes(90%) and 1,595 billion won on shellfishes(10%). A typical consumer spent 41,668 won on fishes and 4,584 won on shellfishes, averaging about 46,300 won overall. Water eel was top in volumes and expenditure, while mudfish in consumption frequency.
Problem on the Governing Body of National Federation of Fisheries Cooperatives (NFFC) - from the perspective of the Honorary Office of NFFC President -
Jeon, Hyeong-Soo ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 97~112
The amendment of regulation affecting the Governing Body of NFFC (National Federation of Fisheries Cooperatives) has been known to the public in May 2008. Its essential points are as follow: 1) the President of NFFC shall be a non-standing officer. 2) the Full-Time Directors shall have the authority to deal with all subjects except for those especially reserved for the General Meeting or Board of Directors, while minimizing the authority of NFFC President. By providing this amendment, the government seeks to make the Governing body becomes professionalized and the management functions carried out by full-time professional board members. However, the amendment seems to pay no attention to the co-operative's identity and principles. In this context, five issues will be discussed: 1) Strengthening the separation between ownership and control of NFFC. 2) Weakening the authority of General Meeting. 3) The bounds of Audit Committee. 4) Consolidating the management control of the Full-Time Directors. 5) The loss of NFFC's Identity, followed by a summary and conclusion.
Analysis on the Choice of the Store to Buy Seafood by the General Consumers in Korea Using the Consumers' Store Choice Behavior Theory
Chang, Hong-Seock ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 113~132
The purpose of this study is to derive the factors for the general consumers to choose the store to buy seafood. Survey on 414 general consumers by questionnaires was conducted to find out the factors for them to choose the stores in the traditional market and large supermarket, and through the analysis on the results the factors for general consumers to choose large supermarkets were derived when they buy seafood and at the same time the degree of its importance was analyzed. The results of the survey showed that the general consumers chose large supermarkets to buy seafood despite the fact that they recognized the seafood prices are lower in the traditional markets than in the large supermarkets. Particularly, the results of analyzing the sixteen criteria for choosing the store in which to buy seafood were grouped into four: the 'assortment of goods and high quality', 'service', 'price and promotion' and 'convenient accessibility.' The results of examining the order of priority based on the four factors showed that the 'assortment of diverse seafood and high quality' was found to be given the first priority, followed by 'convenient accessibility' and 'prices and promotion factors', with 'service' being statistically insignificant. Based on these results, Monroe (1975)'s consumers' store choice process is summarized as follows. Before buying seafood, the consumers who use large supermarkets have the desire for buying seafood and then judge the properties of the store which they will use. In this process, consumers were satisfying their needs in large supermarkets in the criteria of 'assortment of diverse seafood and high quality', convenient accessibility', and 'prices and promotion factors' which were found to be statistically significant in this research. Accordingly, the general consumers choose to buy seafood in large supermarkets rather than in the traditional markets. The general consumers were more satisfied with using large supermarkets than using traditional markets, so after they have initially bought seafood in the large supermarkets, they habitually buy seafood in the large supermarkets without going through Monroe (1975)'s 'eight stage process for the store choice.' When such habitual store choice behavior continues for a long time, it results in becoming structural.
Model for Price Formation of Fish and Its Demand Structure
Park, Hoan-Jae ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 133~152
The purpose of this paper is to model price formation and analyze demand structures for fishes under the restriction of Korean fisheries regulations. This study suggests the model that the price of fish is formed by its quantity, expenditure, and habit persistence. In economic literature, such a fishery market demand is called the inverse demand with dynamic habit persistence. Based upon a static differential price formation model, the paper has generalized it dynamically incorporating habit persistence effects. The empirical results show that all the species have values less than one and (-) sign of price flexibilities, thus being price inflexible. The estimated habit adjustment coefficients are significant at the level of 1%. Especially, TAC species have the smaller values of them than those of other main fish species. The contribution and results are summarized as follows. First, the fishery market demand has a strong dynamic effects from habit persistence. Second, the fishery market demand structure could be analyzed in a way different from the ordinary demand analysis, which is based upon price flexibility, scale flexibility, and cross adjustment flexibility. Third, the limitation of this paper is that it ignores the increasing stock effects by catching restrictions, thus raising consumers' benefit in the future.
The Economic Evaluation of Experimental Fishing Grounds in the North Pacific Midway Ocean Under Uncertainty : Focusing on Tuna Longline Fishing Grounds
Moon, Seong-Ju ; Jin, Sang-Dae ; An, Young-Su ; Kim, Yeong-Seung ; Hwang, Seon-Jae ;
The Journal of Fisheries Business Administration, volume 40, issue 1, 2009, Pages 153~172
Developing foreign fishing ground executed in various uncertainty such as fishing price, oil price, exchange rate. But traditional economic evaluation method, CVP(Cost-Volume-Profit) analysis doesn't consider uncertainty of foreign fishing ground. So we need new approach about economic evaluation that can take into account uncertainty. This study focus on the economic evaluation about experimental survey of tuna fishing grounds in the north pacific ocean by sensitive analysis and simulation. The results of the economic evaluation can be summarized as follows. First, when we take it for granted that the other uncertainty factors except for each fishing price, oil price, and exchange rate are constant. CVP gross sales has positive relation to the increasing rate of oil price, exchange rate(W/$) and negative relation to the increasing rate of fishing price and exchange rate(W/
). Second, when we are supposing that fishing price, oil price, and exchange rate are followed. the probability of less than CVP gross sales is A ship(48.87%), B ship(49.64%), C ship(50.55%). Consequently, the economic evaluation by sensitive analysis and simulation is more useful tool than CVP(Cost-Volume-Profit) analysis under uncertainty.