Projet ANCRE-DMX2 : Indicateurs biologiques et écologiques pour une gestion durable des stocks de poissons DéMersauX profonds (100–700 m) d’intérêt halieutique à La Réunion

L'usage de la ligne à main mécanisée (moulinet électrique) s'est développé à La Réunion au cours des années 2000. Ce métier s’est développé à la suite d’une campagne de prospection des ressources halieutiques profondes (200-700m), menée conjointement par le CRPMEM et l’Ifremer en 2000. L’objectif de cette campagne par pêche au moulinet électrique visait à identifier de nouvelles ressources démersales à des fins de diversification pour la petite pêche artisanale côtière professionnelle réunionnaise. Ainsi, les premiers résultats de cette étude avaient mis en évidence l'existence de nouvelles espèces et des stocks encore peu exploités à l’époque. Leur exploitation par la pêche professionnelle mais aussi par la pêche plaisancière s’est dès lors développée rapidement, sans aucun contrôle. En l’absence de cadre juridique et de mesures de gestion appropriés, la baisse rapide des rendements et les conflits pour l’accès à ces ressources profondes limitées et réputées sensibles à l’exploitation avaient motivé un précédent projet d'étude pour caractériser l’état de ces ressources (ANCRE-DMX, nommé DMX1, Ifremer 2011). Ce premier diagnostic réalisé à peine 10 ans après le début de l’exploitation des principales espèces avait mis en évidence des premiers signes d’une exploitation non soutenable des ressources dans l'ouest et le nord de La Réunion. Il avait été alors préconisé de lever des lacunes importantes concernant la biologie et l’écologie des espèces, d’évaluer l’état de ces stocks et enfin, de définir des indicateurs biologiques et halieutiques permettant de suivre l’évolution de ces différents stocks. En effet, les stocks de poissons démersaux profonds sont connus pour leur vulnérabilité (croissance lente, maturité sexuelle tardive, recrutement aléatoire…), et ce d’autant plus que leurs habitats sont particulièrement restreints à La Réunion. Le présent projet DMX2 a donc eu pour principal objectif d’établir, à partir d’une approche « indicateur », les bases des connaissances halieutiques, biologiques et écologiques manquantes sur les 6 principales espèces ciblées par la pêcherie à la ligne mécanisée. Le plan d’échantillonnage mis en place a couvert des profondeurs comprises entre 80 et 700 mètres, intégrant pour la première fois les zones de transition plus côtières. La période d’échantillonnage s’est déroulée sur un cycle annuel complet, soit d’avril 2014 à mai 2015, avec le concours de 10 pêcheurs professionnels répartis tout autour de l’île. Ainsi, 143 marées ont permis d’échantillonner 3984 individus et plus de 60 espèces différentes. Pour les principales espèces retenues, le suivi des captures en mer et les prélèvements biologiques réalisés ont permis d’appréhender leur rendement, leur structure démographique, leurs relations biométriques, l’étude de leur croissance, leur cycle de reproduction, leur taille de première maturité, la composition relative de leur alimentation ainsi que la variabilité de leur condition corporelle selon les saisons et en fonction des secteurs géographiques de l’île. Pour certaines espèces, les paramètres biologiques et écologiques obtenus n’avaient jamais été étudiés à ce jour. A partir des indicateurs populationnels et bio-écologiques retenus dans le projet, il a été possible d’évaluer l’état de santé des principaux stocks exploités et de les confronter à la situation et à l’évolution de la pêcherie ciblant ces espèces. Sur la base d’une approche de précaution, les diagnostics rendus sont variables selon l’état de santé de chacun des stocks et de leur sensibilité à l’exploitation. L’approche « indicateur » développée dans le cadre de ce projet a été appliquée aux données historiques disponibles. Ces indicateurs seront désormais proposés dans le cadre des suivis qui devront être mis en place dans la définition d’un plan de gestion des ressources démersales profondes à La Réunion. La définition du plan de gestion devra être discutée et validée auprès des différents usagers pêcheurs ainsi que des gestionnaires scientifiques, professionnels et administratifs.

Evaluation du stock de coquilles Saint-Jacques de la Baie de Seine et du Proche Extérieur. COMOR 32 (8-23 juillet 2002)

Scientific scallop surveys called COMOR are carried out in the bay of Seine since 1976. Results are used by fishermen’ associations and by fishing administration to lead management measures. In this report, the scientific results of the survey COMOR 32 realised in July 2002 are described. Abundance and growth indices for scallop, by age and area, are presented. During these surveys, data about most abundant benthic species are also collected since 1998. A first assessment with five years data is made here. A global descriptive analysis is undertaken about all the species present on scallops grounds. A special zoom is applied on both species whitch could be exploited (whelk Buccinum undatum and queen scallop Aequipecten opercularis) and three competitive species (starfish Asterias rubens, American slipper-limpet Crepidula fornicata and brittle star Ophiothrix fragilis)

Merluccius hubbsi (Teleostei: Merlucciidae): stock identification based on reproductive biology in the south-southeast brazilian region

The Argentine hake, Merluccius hubbsi, a demersal-pelagic species found from Rio de Janeiro, Brazil to the Tierra del Fuego, Argentina, has become an important target of the Brazilian bottom-trawler fleet since 2001. Earlier studies focusing on the species have suggested that more than one stock might occur off the Brazilian coast, in accordance with environmental features. In order to evaluate this hypothesis, fish were collected from four different areas in the Brazilian waters in which the hake is distributed, during the summers and winters of 1996-2001 and 2004, the females being used to analyze and compare spatial-temporal variations in ovarian maturation. Gonad indexes were also applied for the same purpose. Results indicate a north-south spawning gradient occurring as from summer at around 21°S to winter near 34°S, leading to the identification of two distinct stocks: one located between 21°S and 29°S (Southeastern stock) and the other between 29°S and 34°S (Southern stock), this latter shared with Uruguay and Argentina. Brazilian stocks present clear signs of overexploitation, the situation calling for an urgent solution.

Qualitative assessment of stock prices listed on the Sao Paulo stock exchange: An approach from the perspective of homogeneity analysis

The stock market suffers uncertain relations throughout the entire negotiation process, with different variables exerting direct and indirect influence on stock prices. This study focuses on the analysis of certain aspects that may influence these values offered by the capital market, based on the Brazil Index of the Sao Paulo Stock Exchange (Bovespa), which selects 100 stocks among the most traded on Bovespa in terms of number of trades and financial volume. The selected variables are characterized by the companies` activity area and the business volume in the month of data collection, i.e. April/2007. This article proposes an analysis that joins the accounting view of the stock price variables that can be influenced with the use of multivariate qualitative data analysis. Data were explored through Correspondence Analysis (Anacor) and Homogeneity Analysis (Homals). According to the research, the selected variables are associated with the values presented by the stocks, which become an internal control instrument and a decision-making tool when it comes to choosing investments.

Movement and stock structure of narrow-barred Spanish mackerel as indicated by parasites

Data from permanent parasites (juvenile trypanorhynchs and anisakids) indicated that Spanish mackerel Scomberomorus commerson from four sites on the west coast of Australia, Abrolhos, Shark Bay, Exmouth and Onslow, intermingled and were probably all drawn from the same stock. Fish from Broome, Kupang (Indonesia), Groote Eylandt-Torres Strait and the cast coast of Australia had distinct faunas of permanent parasites and probably each belonged to a different stock. There was evidence of movement of fish between Broome and the west coast. Abundances of temporary parasites (gill copepods and monogeneans) suggested that males and females on the west coast migrated separately because in several cases the parasite fauna of one sex was more similar to that of fish in an adjacent area than to the opposite sex in the same area. (C) 2001 The Fisheries Society of the British Isles.

Demography of bridled nailtail wallabies translocated to the edge of their former range from captive and wild stock

Despite numerous, generally unsuccessful attempts to reintroduce threatened Australian mammals, the factors leading to their failure have not been fully clarified, although predator control would appear to be of paramount importance. An experimental approach was taken in attempting to establish a population of bridled nailtail wallabies ih an area of apparently suitable habitat and low fox density, but on the edge of the species' former range. The 133 wallabies released since late 1996 comprised four groups captive-bred animals, wild caught from the single remaining wild population, animals that were captive bred and acclimatised at the translocation site in a 10 ha predator-proof enclosure, and animals which had been bred in the enclosure. Survival was highest in those bred in the enclosure and highly variable among captive-bred animals. Survival estimates for wild recruits suggested the population would maintain a positive rate of increase under prevailing environmental conditions. Spotlighting surveys suggested the population had increased to approximately 400 animals by late 1999. Above average rainfall during 1996-1999 and no apparent predation suggests caution in describing the translocation as a success. Ongoing monitoring is critical, because it A uncertain ho v the population will cope with drought and inevitable predation events, and whether the population will expand and persist outside of limited preferred habitat. (C) 2001 Elsevier Science Ltd. All rights reserved.

The relative importance of domestic and global factors in explaining Australian stock returns

In this study, we explore the relative importance of the several documented factors in explaining the behaviour of stock returns for a sample of 157 Australian companies over the period 1993–9. In line with prior evidence, we contend that the influence of global (market, industry and currency) factors is related to the extent of a firm's international activity. We find that Australian firms are in large part impacted by domestic factors with the level of sensitivity declining as the level of international activity increases. In contrast to prior literature, we also show that Australian firm returns are related to regional market, global industry and currency factors and the firm's sensitivity to these factors is an increasing function of its level of international activities.

Stock splits: Implications for investor trading costs

Stock splits are known to have a negative effect on market quality—while stock prices adjust consistently with the split's scale, the bid/ask spread and market depth do not. Two possible explanations for the relative increase in spread are that (i) splits cause an increase in market maker costs that are passed along to investors or (ii) splits provide a mechanism for market makers to increase excess profits. Using a robust econometric methodology, we find evidence of the latter, which raises questions about the motivation of the splitting practice. We also document that while NASDAQ spreads appear to adjust more fully than those of NYSE/AMEX stocks, NASDAQ spreads are higher in general.

Stock discrimination and movements of narrow-barred Spanish mackerel across northern Australia as indicated by parasites

The parasite fauna of Spanish mackerel Scomberomorus commerson from 10 sites across northern Australia and one site in Indonesia, was examined to evaluate the degree of movement and subsequent stock structure of the fish. Kupang fish (Indonesia) had very few Terranova spp.. Grillotia branchi, Otobothrium cysticum or Pterobothrium sp. compared to Australian fish, indicating that no Australian fish enter the Kupang fishery. Univariate and discriminant function analysis of four 'temporary' parasite species, the copepod Pseudocyenoides armatus and the monogeneans Gotocotyla bivaginalis, Pricea multae and Pseudothoracocotyla ovalis, demonstrated little similarity between areas of northern Australia, indicating minimal short-term exchange between neighbouring groups of S. commerson. Analyses of five 'permanent' parasite species, the larval helminths G. branchi, O. cysticum, Pterobothrium sp., Callitetrarhynchus gracilis and Paranybelinia balli, also revealed large differences between areas thus indicating long-term separation. There are at least six parasitological stocks across northern Australia: Fog Bay/Bathurst Island, Cape Wessel. Groote/Sir Edward Pellew. Mornington Island, Weipa. and the Torres Strait. The occurrence of a few irregular fish in the samples suggested that LIP to 5% of fish moved between stocks during their lifetime. The similarity of within-school variability to that between schools showed that the fish do not form long-term school associations. (C) 2003 The Fisheries Society of the British Isles.

Impacts of vinasse and methods of sugarcane harvesting on the availability of K and carbon stock of an Argisol

ABSTRACT Soils of tropical regions are more weathered and in need of conservation managements to maintain and improve the quality of its components. The objective of this study was to evaluate the availability of K, the organic matter content and the stock of total carbon of an Argisol after vinasse application and manual and mechanized harvesting of burnt and raw sugarcane, in western São Paulo.The data collection was done in the 2012/2013 harvest, in a bioenergy company in Presidente Prudente/SP. The research was arranged out following a split-plot scheme in a 5x5 factorial design, characterized by four management systems: without vinasse application and harvest without burning; with vinasse application and harvest without burning; with vinasse application and harvest after burning; without vinasse application and harvest after burning; plus native forest, and five soil sampling depths (0-10 10-20, 20-30, 30-40, 40-50 cm), with four replications. In each treatment, the K content in the soil and accumulated in the remaining dry biomass in the area, the levels of organic matter, organic carbon and soil carbon stock were determined. The mean values were compared by Tukey test. The vinasse application associated with the harvest without burning increased the K content in soil layers up to 40 cm deep. The managements without vinasse application and manual harvest after burning, and without vinasse application with mechanical harvesting without burning did not increase the levels of organic matter, organic carbon and stock of total soil organic carbon, while the vinasse application and harvest after burning and without burning increased the levels of these attributes in the depth of 0-10 cm.

STOCK EXCHANGE LISTING INDUCES SOPHISTICATION OF CAPITAL BUDGETING

This article compares capital budgeting techniques employed in listed and unlisted companies in Brazil. We surveyed the Chief Financial Officers (CFOs) of 398 listed companies and 300 large unlisted companies, and based on 91 respondents, the results suggest that the CFOs of listed companies tend to use less simplistic methods more often, for example: NPV and CAPM, and that CFOs of unlisted companies are less likely to estimate the cost of equity, despite being large companies. These findings indicate that stock exchange listing may require greater sophistication of the capital budgeting process.