Understanding of factors like economic fundamentals or bubbles that normally determine the returns of stock in any emerging market such as the Thai stock market is essential for academic, investment planning and public policy reasons. An empirical study of the existence of rational speculative...

Efficient Market Hypothesis (EMH) has attracted a considerable number of studies in empirical finance, particularly in determining the market efficiency of an emerging financial market. Conflicting and inconclusive outcomes have been generated by various existing studies in EMH. In addition,...

Following the introduction of sea-going factory vessels by Norwegian whalers in the 1926 season, the international whaling industry underwent a large expansion which ultimately resulted in depletion of many valuable stocks of whales. Attempts at conservation under the auspices of the...

The failures of traditional target-species management have led many to propose an ecosystem approach to fisheries to promote sustainability. The ecosystem approach is necessary, especially to account for fisheryï¾–ecosystem interactions, but by itself is not sufficient to address two...

This paper discusses the economics of the commercial fishing industry under the hypothesis of independent harvesting and processing sectors (although the possibility of integration is also discussed briefly). The analysis is based on an explicitly dynamic fishery model. The competitive and...

This paper deals with the time consistency problem associated with buyback schemes, arising from the fact that the schemes may be anticipated by vessel owners. After reviewing and elaborating upon the key results of our recently published article on buybacks and limited-entry programs, we...