Will I clear my feet? Vessel owners’ stay or exit dilemma in a stock recovery situation Public Deposited

http://ir.library.oregonstate.edu/concern/conference_proceedings_or_journals/mc87pw264

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  • This paper presents findings from an investigation into the stay or exit decision of vessel owners in Scottish fisheries subject to stock recovery measures. Semi-structured in-depth interviews were conducted with 39 vessel owners during and following a vessel buy-back scheme. Empirical results show key factors affecting the decision to stay or exit, which include the owner's age, other sources of income, the existence of a successor to the business, impact on other involved family members, and expected future business performance, which in some cases was expected to be business failure. Owners did not use any formal financial methods or techniques for their decision-making. Advice sought from accountants was mostly on minimising tax liability. Owners expecting profitable operation considered how to use government grants to enable fresh investment in the fishery. For vessels with poor expected performance, owners' principle concern was 'will I clear my feet?' - would there be a positive net cash position on winding up the business? If they could not get clear of debt by winding up, skippers would continue in unprofitable or low profit boats, as long as they could get a wage for their labour and repay the bank loan, because they saw no other option. This could partly explain the time lag between decline in average profits and decline in fleet capacity in a fishery, identified by other authors. Negative or low accounting profit and zero or negative return on assets may not on their own cause owners to quit.
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  • Curtis, H. Will I clear my feet? Vessel owners’ stay or exit dilemma in a stock recovery situation. In: Visible Possibilities: The Economics of Sustainable Fisheries, Aquaculture and Seafood Trade: Proceedings of the Sixteenth Biennial Conference of the International Institute of Fisheries Economics and Trade, July 16-20, Dar es Salaam, Tanzania. Edited by Ann L. Shriver. International Institute of Fisheries Economics and Trade (IIFET), Corvallis, 2012.
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  • description.provenance : Approved for entry into archive by Janet Webster(janet.webster@oregonstate.edu) on 2012-11-07T19:55:03Z (GMT) No. of bitstreams: 3 license_rdf: 22765 bytes, checksum: 56265f5776a16a05899187d30899c530 (MD5) license_text: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) H Curtis IIFET 2012 for proceedings.pdf: 5976954 bytes, checksum: 9e25859457b711d615191614f0339623 (MD5)
  • description.provenance : Submitted by Hazel Curtis (h_curtis@seafish.co.uk) on 2012-10-31T17:06:03Z No. of bitstreams: 3 license_rdf: 22765 bytes, checksum: 56265f5776a16a05899187d30899c530 (MD5) license_text: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) H Curtis IIFET 2012 for proceedings.pdf: 5976954 bytes, checksum: 9e25859457b711d615191614f0339623 (MD5)
  • description.provenance : Made available in DSpace on 2012-11-07T19:55:03Z (GMT). No. of bitstreams: 3 license_rdf: 22765 bytes, checksum: 56265f5776a16a05899187d30899c530 (MD5) license_text: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) H Curtis IIFET 2012 for proceedings.pdf: 5976954 bytes, checksum: 9e25859457b711d615191614f0339623 (MD5) Previous issue date: 2012

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