On the (ir)relevance of rates of return measures of economic performance to small boats

Boncœur, Jean; Coglan, Louisa; Gallic, Bertrand Le; Pascoe, Sean

doi:10.1016/s0165-7836(00)00209-5

Cited by 39 publications

(32 citation statements)

References 8 publications

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“…The return on investment (around 12%) is consistent with other estimates for small-scale fleets in European fisheries (Boncoeur et al 2000), which suggests that these fisheries are profitable and would attract investment (internal or external). However, the same authors caution against using the return of investment indicator based on its classic definition (full equity profits/value of capital) for small-scale fleets and suggest using an alternative indicator, such as net income to the owneroperator.…”

Section: Discussionsupporting

confidence: 86%

“…However, the same authors caution against using the return of investment indicator based on its classic definition (full equity profits/value of capital) for small-scale fleets and suggest using an alternative indicator, such as net income to the owneroperator. This indicator resulted in 38 k e in our fleet, which is in the lower range of the English Channel fleets studied by Boncoeur et al (2000), and in the range of average salaries (before tax) in Spain in 2008, which suggests that this activity would not attract new entrants or new investments.…”

Section: Discussionmentioning

confidence: 65%

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Fishing tactics dynamics of a Mediterranean small-scale coastal fishery

Maynou

Recasens

Lombarte

2011

Aquat. Living Resour.

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-We analyzed the small-scale fishery in the port of Vilanova i la Geltrú (NW Mediterranean) to assess the fishing practices in this fishery and produce economic indicators of its status. We defined the fishing tactics (or métiers) of this fishery with a multivariate analysis approach for evaluating the main fishery resources and fishing gears employed. Our results show that netters in this fishery practice 7 types of fishing tactics. Five of these fishing tactics, in terms of target species, gear and seasonality, are also used in other small-scale Mediterranean fisheries. The main types of fishing gear (trammel nets, gillnets) and target species (Sepia officinalis, Solea vulgaris, Mullus surmuletus and Merluccius merluccius), and a well defined seasonality, are also observed in other studies of Mediterranean small-scale fisheries. We show that the seasonal rotation of fishing tactics is determined by the availability of different fish species rather than market price. Identifying the fishing tactics, which in the Mediterranean are relatively limited in number, of small-scale fisheries provides information for developing monitoring and management strategies for these fisheries. We also assessed the economic performance of the small-scale fishery in Vilanova i la Geltrú and its conflicts with other uses of the coastal zone. We conclude that small-scale fisheries are an economically viable activity although seriously threatened by concurrent uses of the coastal zone (conflict with other extractive activities; competition for space with tourism and leisure activities; pollution). The integrated management of the uses of the coastal zone is necessary in order to sustain small-scale fisheries, which have become less important in economic terms, but which are an important social component of local coastal communities and are a source of high quality seafood with a low ecological impact.

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Section: Discussionsupporting

confidence: 86%

Section: Discussionmentioning

confidence: 65%

Fishing tactics dynamics of a Mediterranean small-scale coastal fishery

Maynou

Recasens

Lombarte

2011

Aquat. Living Resour.

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“…3 From ILO (2004) it seems that to the proportion of the catch sale could be also deducted operational costs. 4 The distinction between remuneration of labour and remuneration of the invested capital is not systematic for many units, especially for those in which the owner is also the fisher onboard (Boncoeur et al 2000) which is the case for most small scale fleets in Europe ) and worldwide (Thuy et al 2013). 5 As pointed out by Willmann et al (2008), losses to the global economy from unsustainable exploitation of living marine resources substantially exceed these estimates.…”

Section: Discussionmentioning

confidence: 99%

“…Theoretically, this could also be the case on small boats when there is only one crew, who is also the owner of the vessel. In this case, the distinction between remuneration of labor and remuneration of the invested capital is not systematic (Boncoeur et al 2000). 4 The bioeconomic model…”

Section: Case 1: Fixed Remuneration Systemmentioning

confidence: 99%

Remuneration systems used in the fishing sector and their consequences on crew wages and labor rent creation

et al. 2017

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In most fisheries worldwide, crew are paid through different shared remuneration systems rather than a fixed wage. In shared remuneration systems, wages can significantly increase when the economic performance of vessels improve, and consequently provide incentives to workers. However, in recent years, mainly due to high overexploitation levels that lead to reduced productivity and consequently lower salaries shared remuneration systems have lost their attractiveness. Different remuneration systems applied in fisheries world-wide are described and analyzed comparatively. Results explain how crew wages and rent distribution outcomes vary between the different remuneration systems depending on the state of exploitation of the resource.

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“…The results obtained from our analysis propose the mixed rent problem as an additional reason for not using profit even if the data for calculations are available. As pointed out by Boncoeur et al (2000), an estimate of the value of owner/operator labour is important when assessing the ROI. For the Basque purse seiner-live bait fleet, this labour is implicit in the crew cost as the owner is one of the crew.…”

Section: Discussionmentioning

confidence: 99%

Measuring the economic efficiency of a crew share remuneration system: a case study of the Basque purse seiner-live bait fleet

Prellezo

Iriondo

2016

Aquat. Living Resour.

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-Crew share remuneration systems are extensively used in fisheries as a way to tackle the moral hazard problem caused by asymmetric information distribution between the capital owner and the crew. To conduct a principalagent analysis of such a system, it is important to know how it deals with fuel costs. This paper is based on economic efficiency indicator calculations and a number of simulations for the Basque purse seiner-live bait fleet to shed light on the crew-capital owner relationship in this principal-agent problem. We conclude that the share remuneration system can protect crewmembers from variations in fuel prices, which might be one of the factors explaining its popularity. However, some profit indicators are affected by the remuneration system and, thus, cannot be used for the comparisons of economic efficiency of the fleets.

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On the (ir)relevance of rates of return measures of economic performance to small boats

Cited by 39 publications

References 8 publications

Fishing tactics dynamics of a Mediterranean small-scale coastal fishery

Fishing tactics dynamics of a Mediterranean small-scale coastal fishery

Remuneration systems used in the fishing sector and their consequences on crew wages and labor rent creation

Measuring the economic efficiency of a crew share remuneration system: a case study of the Basque purse seiner-live bait fleet

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