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dc.contributor.authorBertheussen, Bernt Arne
dc.contributor.authorVassdal, Terje
dc.date.accessioned2019-12-02T11:53:02Z
dc.date.available2019-12-02T11:53:02Z
dc.date.issued2019-05-23
dc.description.abstractThis study is motivated by the ongoing debate on resource rent taxation in Norwegian fisheries. Drawing on strategy literature, this paper argues that resource rent is just one of several conceivable sources of above-normal profit (superprofit) for a firm in a natural resource-based industry. The financial statements of almost the whole population of the Norwegian purse seine fleet were analyzed (61 firms owning 65 vessels) for a 5-year period and the level of superprofit for each company was calculated. The findings show that the average firm made modest superprofit in 4 out of 5 years. One reason is that the firms have received a large portion of their quota portfolios gratis. Another reason is that the competition arena is favorably protected through institutionalized barriers to entry. Moreover, the study reveals large profitability variations among seemingly similar firms. Different sources of superprofit were therefore investigated. It was found that the most profitable firms were the most risk adverse. They invested in neither large quota shares nor large catch capacities; as a result, their balance sheets were not debt loaded. The paper concludes by discussing policy implications and limitations of the findings.en_US
dc.descriptionSource at <a href=https://doi.org/10.1016/j.marpol.2019.103551>https://doi.org/10.1016/j.marpol.2019.103551. </a>en_US
dc.identifier.citationBertheussen bab, Vassdal T. Sources of superprofit in a well-regulated fishery. Marine Policy. 2019;106en_US
dc.identifier.cristinIDFRIDAID 1698499
dc.identifier.doi10.1016/j.marpol.2019.103551
dc.identifier.issn0308-597X
dc.identifier.issn1872-9460
dc.identifier.urihttps://hdl.handle.net/10037/16764
dc.language.isoengen_US
dc.publisherElsevieren_US
dc.relation.journalMarine Policy
dc.rights.accessRightsopenAccessen_US
dc.subjectVDP::Social science: 200::Economics: 210en_US
dc.subjectVDP::Samfunnsvitenskap: 200::Økonomi: 210en_US
dc.titleSources of superprofit in a well-regulated fisheryen_US
dc.type.versionpublishedVersionen_US
dc.typeJournal articleen_US
dc.typeTidsskriftartikkelen_US
dc.typePeer revieweden_US


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