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dc.contributor.authorHannevig, Hilde
dc.contributor.authorBertheussen, Bernt Arne
dc.date.accessioned2020-06-17T06:05:45Z
dc.date.available2020-06-17T06:05:45Z
dc.date.issued2020-06-16
dc.description.abstractIt is an established “truth” in the literature that a company which restricts itself to utilize existing resources without exploring new business opportunities is doomed to fail in the long run. An underlying premise for the claim is that the competition arena is dynamic and organized according to free competition principles. This study, however, examines whether it is more profitable for a fishing vessel to primarily exploit existing resources when the quota shares of the players are institutionally protected so that there is no real competition between them. The context is Norwegian seagoing purse seiners, which in 2005 experienced the introduction of a more market oriented individual transferable quota (ITQ) system with some distinct modifications. The vessels in the study were classified into strategic groups based on their exploitation versus exploration approaches. Financial accounts covering the period 2003–2017 were collected and analyzed to empirically address the issue. Some vessels did considerable explorative activities in the period studied by fishing related species, investing in quotas, and in new vessel technology. The findings suggest that firms which did not explore, but instead exploited their existing resource base performed relatively better than their peers except for EBITDA (earnings before interest, tax, depreciation and amortization) margin. Finally in the paper, the findings are discussed and implications outlined.en_US
dc.identifier.citationHannevig H, Bertheussen bab. The Exploitation-exploration Dilemma of Fishing Vessels with Institutionally Protected Quota Shares. Frontiers in Marine Science. 2020en_US
dc.identifier.cristinIDFRIDAID 1811559
dc.identifier.doi10.3389/fmars.2020.00436
dc.identifier.issn2296-7745
dc.identifier.urihttps://hdl.handle.net/10037/18570
dc.language.isoengen_US
dc.publisherFrontiers Mediaen_US
dc.relation.journalFrontiers in Marine Science
dc.rights.accessRightsopenAccessen_US
dc.rights.holderCopyright 2020 The Author(s)en_US
dc.subjectVDP::Mathematics and natural science: 400en_US
dc.subjectVDP::Matematikk og Naturvitenskap: 400en_US
dc.titleThe Exploitation-exploration Dilemma of Fishing Vessels with Institutionally Protected Quota Sharesen_US
dc.type.versionpublishedVersionen_US
dc.typeJournal articleen_US
dc.typeTidsskriftartikkelen_US
dc.typePeer revieweden_US


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