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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 44, Issue 3 - Dec 2013
Volume 44, Issue 2 - Sep 2013
Volume 44, Issue 1 - Jun 2013
Selecting the target year
The Estimation of Compensation for Revoking a License for Fishery Business and Appropriate Discount Rate
Jung, Hyung-Chan ; Chung, Man-Hwa ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 1~17
DOI : 10.12939/FBA.2013.44.2.001
We investigate the appropriateness of the fixed 12% discount rate to be used in estimating the amount of compensation for revoking a license for fishery business by the Enforcement Decree of Fisheries Act in Korea. We also suggest the appropriate discount rate fully reflecting the change of market interest rate in the Korean financial market. The capital asset pricing model, or, CAPM is the best known model of risk and return, and is widely used to estimate the expected rate of return for the risky projects. Even though the CAPM implies that the discount rate or the expected rate of return should change as the related market factors do, the discount rate used to estimate compensation for revoking a license for fishery business remains to be the same 12% rate for the last 15 years by law. During this period, however, the yield to maturity for the 5-year government bonds in Korea has dramatically changed from about 12% to less than 3%. In order to provide the fair compensation for the damages against the coastal fisheries and evaluate the intrinsic value of fishery resources in the coastal areas, we suggest that the appropriate discount rate should be determined by the yield to maturity of the government bonds with 5-year maturity, instead of the current fixed 12% interest rate.
Empirical Analysis on the Factors Affecting the Consumption of Aquatic Products in China Using Panel Data
Lin, Xuemei ; Kim, Ki-Soo ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 19~33
DOI : 10.12939/FBA.2013.44.2.019
China is the world`s largest producer of aquatic products and its fishery sector is comprised primarily of aquaculture facilities, both fresh and seawater, and a much smaller wild catch component. The expansion of the aquaculture sector continues to boost China`s aquatic output. The increase is attributable to several factors. Among them rapidly growing domestic demand is no doubt one of the most important reasons. Rapid economic growth and rising disposable income are influencing domestic consumption and the economic recovery of major import markets is further stimulating consumption of China`s aquatic products. This paper tries to examine the status, trend and reasons of consumption of aquatic products in China. Based on the analysis on the consumption of aquatic products and its change, this paper utilizes panel regression model to estimate the affecting factors of aquatic products consumption in China. By using panel data between 1997 and 2010, the results indicate that income, urbanization, aging and dummy variable have positive effects and fish price index has negative effect on China`s aquatic products consumption as predicted. However, effects of meat consumption and education on fishery consumption are totally opposite with our predictions. In other words, it turns out that meat consumption has positive effect on fish consumption while education turns out to have negative effect. Finally the member of household does not show any significant effect on consumption of aquatic products in China.
A Study on the Development of the Solar Salt Industry through Diagnosis of Current Situation and Theoretical Consideration
Suh, Bo-Won ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 35~49
DOI : 10.12939/FBA.2013.44.2.035
The purpose of this study is to investigate development of the solar salt industry in Korea. To achieve the objective, the study defined the concept of advancement and competitiveness improvement regarding the solar salt industry, and identified a present situation and problems of the solar salt industry. The result showed that to develop the solar salt industry in Korea, production system should be modernized, and distribution system should be changed to get consumer`s trust, and it should be informed outstanding characteristics of Korean solar salt to consumers. Finally, the government and related corporation should push related system and policy such as traceability system to develop the solar salt industry in Korea.
The Antecedents of satisfaction of eco-friendly seafood: The moderating effect of gender
Kang, Seong-Ho ; Hur, Won-Moo ; Park, Kyung-Do ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 51~68
DOI : 10.12939/FBA.2013.44.2.051
The objective of this study is to analyze how consumption value affects customer satisfaction toward eco-friendly seafood products. Moderating role of gender is also examined. For empirical validation of our model, data were collected from a cross-sectional survey of 307 consumers in the South Korea, who have bought a eco-friendly seafood, a representatives eco-friendly product. The results demonstrated several important findings. First, emotional consumption value, social consumption value and functional consumption value had significant positive effects on eco-friendly seafood product satisfaction, Second, interaction effect of social value and gender had a positive effect on satisfaction. Third, interaction effect of functional value and gender had a negative effect on satisfaction. Theoretical and managerial implications are suggested.
Economic Analysis of Ecklonia cava Aquaculture Business
Kang, Seok-Kyu ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 69~81
DOI : 10.12939/FBA.2013.44.2.069
The purpose of this study is to examine the economic validity of Ecklonia cava aquaculture business for raising fishing people`s revenue. The results of this study are summarized as follows: First, the production of Ecklonia cava is estimated about 251 ton or more in Jeju. Second, the distribution structure of Ecklonia cava is not established, but Ecklonia cava is traded much more through bio or processing corporation than through fisheries cooperative like other marine plants. Third, the price of Ecklonia cava should be at least 1,729 won per kilogram under 4.04% of capital cost for economic feasibility of Ecklonia cava aquaculture business. Finally, the results of sensitivity analysis show that there is economic feasibility of Ecklonia cava aquaculture business when the price of Ecklonia cava is more 2,500 won per kilogram and the capital cost is under 8.0%.
A Study on the Effect of Internal Marketing of Central Purse Seine Fisheries on Crewmen`s Attitude - A Focus on the Moderating Effects of Need-for-Achievement -
Han, Na-Young ; Han, Chang-Eun ; Hong, Jae-Bum ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 83~100
DOI : 10.12939/FBA.2013.44.2.083
This survey was conducted with crewmen on large purse seines in order to increase satisfaction of crewmen. The degree of fulfillment of internal marketing on crewmen (internal communication, empowerment, welfare benefits, management support, and reward system), satisfaction of crewmen, turnover intention, recommendation intention and need for achievement were examined. 200 surveys were distributed and 150 surveys were returned, among which insincere responses were excluded to analyze 146 responses. The results are as follows. First, factors of internal marketing that influence satisfaction of crewmen include empowerment, welfare benefits, and reward system. Second, turnover intention was reduced and recommendation intention was increased with increasing satisfaction of crewmen. Third, while need for achievement moderated the relationship between satisfaction of crewmen and turnover intention, it did not moderate the relationship between satisfaction of crewmen and recommendation intention. In other words, stronger need of crewmen for achievement causes greater negative(-) effect of crewmen`s satisfaction on turnover intention.
Analyzing Investment Effects of Fisheries R&D Projects : A Case of NFRDI`s R&D Projects
Park, Kyoung-Il ; Kim, Do-Hoon ;
The Journal of Fisheries Business Administration, volume 44, issue 2, 2013, Pages 101~109
DOI : 10.12939/FBA.2013.44.2.101
This study is aimed to analyze investment effects of fisheries R&D projects of the National Fisheries Research and Development Institute(NFRDI). In the analysis, Granger causal relations between R&D investment and fisheries production are tested. In addition, time-lag effects of fisheries R&D investment are estimated with an impulse response analysis and investment effects of R&D projects are estimated by changes of social surplus. Results indicate that there exists an Granger-causality between R&D investment and fisheries production and fisheries production responds to the fisheries R&D shock about three years after the initial shock. The magnitudes of the impacts increase until a peak is reached 5~7 years and the impacts decline to zero after 25 years. As investment effects, it is shown that the internal rate of returns of fisheries R&D investment is 55.2%.