993 resultados para STOCK-OPTIONS


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Three commercially important fish species, Lates niloticus (L.), Rastrineobola argentea (Pellegrin) and Oreochromis niloticus (L.) that are fished by artisanal fishermen of Lake Victoria, Tanzania part, were studied in Kagera, Mwanza and Mara beaches from October 1997 to July 1999. Catches, effort, exploitation and stock structure were investigated. Beaches for sampling were selected based on importance for landing the above named fish species. The number of boats found on beach that day, the number that lay idle and their means of propulsion were recorded. As many boats as possible were sampled for gear type and gear size. The catches were sorted into species and measured. Variation in the species and size composition of landings was observed between regions, between months and between gears used. The implications of the findings to management are discussed.

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The study divides the history of the fishery into five 'regulatory periods': the pre-colonial fishery (pre-1901), the colonial fishery (1901-1963), the post indipendence fishery (1963-1980), the Nile perch 'boom' years (1980-1989), and finally the fishery in the 1990's. Within each of these periods, the nature of and the relationship between, formal and informal regulations differs and changes with time. In the pre-colonial period, the outcome of formal and informal regulations largely sustained the fishery in a productive and species diverse state. However, at no time since then have formal regulations worked, with the result that the nature of production from the fishery changes over time and is dependent on a number of factors, amongst which the most important are effort level increases, technological introductions, species introductions, changes in regional and national job markets, the change from community-based controls to state-based controls within the fishery, and finally, considerable changes to the fish markets.

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The Inter-American Tropical Tuna Commission (IATTC) hosted a meeting, sponsored jointly by the IATTC and the Australian Fisheries Service, to discuss and report on the strengths and weaknesses of stock assessment techniques used on bluefin tuna stocks in the Pacific, Indian, and Atlantic Oceans and the Mediterranean Sea. The meeting was held in La Jolla, California, on Mat 25-31, 1990.

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[EN] The aim of this paper is to study systematic liquidity at the Euronext Lisbon Stock Exchange. The motivation for this research is provided by the growing interest in financial literature about stock liquidity and the implications of commonality in liquidity for asset pricing since it could represent a source of non-diversifiable risk. Namely, it is analysed whether there exist common factors that drive the variation in individual stock liquidity and the causes of the inter-temporal variation of aggregate liquidity. Monthly data for the period between January 1988 and December 2011 is used to compute some of the most used proxies for liquidity: bid-ask spreads, turnover rate, trading volume, proportion of zero returns and the illiquidity ratio. Following Chordia et al. (2000) methodology, some evidence of commonality in liquidity is found in the Portuguese stock market when the proportion of zero returns is used as a measure of liquidity. In relation to the factors that drive the inter-temporal variation of the Portuguese stock market liquidity, the results obtained within a VAR framework suggest that changes in real economy activity, monetary policy (proxied by changes in monetary aggregate M1) and stock market returns play an important role as determinants of commonality in liquidity.

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The stock of salmon in any river is largely dependent upon the escapement of sufficient fish to ensure that an adequate quantity of ova is deposited and full use is made of all suitable spawning areas. At the present time, no accurate information is available on the numbers of fish entering rivers. Therefore, catch returns provide valuable information on fish stocks. This report summarises the catch returns for salmon in the Lancashire River Authority in the North of England for the years 1960-1964. Rivers included are the Lune, Ribble, Kent, Leven and Duddon.

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In the past stock assessment surveys were generally reactive in response to a particular problem e.g. a pollution incident and as such were limited in the information they provided. A programme of strategic stock assessment would be more beneficial, providing up to date information on the status and composition of the stock. On a national level this could reveal trends in population dynamics and enable comparisons to be made between key rivers and between regions. The Stock Assessment Task Group (1991) has recommended annual strategic surveys for juvenile salmonids and triennial strategic surveys for coarse fish and non- migratory salmonids. The aim of this pilot study was to gain information on species distribution and their relative abundance within the River Lune catchment, and to compare the findings with the surveys carried out between 1981-1985. This would provide valuable information on the current status of the stock and provide an indication of the resources required to conduct such strategic surveys on other river catchments in the North West Region of the National Rivers Authority.

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In February 1996 "A Strategy for the Management of Salmon in England and Wales" was launched by the then National Rivers Authority. The strategy concentrates on four main objectives for the management of salmon fisheries in England and Wales. These are primarily aimed at securing the well being of the stock but in doing so will strive to improve catches and any associated economic returns to the fisheries: (i) Optimise the number of salmon returning to homewater fisheries. (ii) Maintain and improve the fitness and diversity of salmon stocks. , (iii) Optimise the total economic value of surplus stocks. (iv) Ensure necessary costs are met by beneficiaries. These four objectives will be addressed through local Salmon Action Plans (SAPs) which will be produced for each of the principle salmon rivers in England and Wales by the year 2001. Each plan will review the status of the stock and the fisheries on a particular river, seek to identify the main factors limiting performance, draw up and cost a list of options to address these, and, consult 0with local interest groups. This report is the draft version of the Salmon Action Plan for the River Lune.

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In February 1996 A Strategy for the Management of Salmon in England and Wales was launched by the National Rivers Authority. The strategy concentrates on four main objectives for the management of salmon fisheries in England and Wales: (i) Optimise the number of salmon returning to home water fisheries, (ii) Maintain and improve the fitness and diversity of salmon stocks, (iii) Optimise the total economic value of surplus stocks, (iv) Ensure necessary costs are met by beneficiaries. These four objectives will be addressed through local Salmon Action Plans (SAPs) which will be produced for each of the principle salmon rivers in England and Wales by the year 2001. This Salmon Action Plan for the River Lune reviews the status of the stock and the fisheries, seeks to identify the main factors limiting performance, to draw up and cost a list of options to address these, and to consult with local interest groups.

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We address the valuation of an operating wind farm and the finite-lived option to invest in it under different reward/support schemes: a constant feed-in tariff, a premium on top of the electricity market price (either a fixed premium or a variable subsidy such as a renewable obligation certificate or ROC), and a transitory subsidy, among others. Futures contracts on electricity with ever longer maturities enable market-based valuations to be undertaken. The model considers up to three sources of uncertainty: the electricity price, the level of wind generation, and the certificate (ROC) price where appropriate. When analytical solutions are lacking, we resort to a trinomial lattice combined with Monte Carlo simulation; we also use a two-dimensional binomial lattice when uncertainty in the ROC price is considered. Our data set refers to the UK. The numerical results show the impact of several factors involved in the decision to invest: the subsidy per MWh generated, the initial lump-sum subsidy, the maturity of the investment option, and electricity price volatility. Different combinations of variables can help bring forward investments in wind generation. One-off policies, e.g., a transitory initial subsidy, seem to have a stronger effect than a fixed premium per MWh produced.

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This report presents data from the juvenile salmonid fish stock assessment which is part of the routine Environment Agency riverine monitoring programme. A total of 110 sites was electrofished throughout the Lune catchment between 15th July 1997 and 14th October 1997. These sites included 84 that had been previously sampled in the last comprehensive survey of the catchment, in 1991. The aim of this survey was to assess the distribution and abundance of juvenile salmon and trout in the River Lune catchment and to compare results with those of previous surveys.

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This draft copy of the River Lune juvenile fish stock assessment from 2000 provides "Site Reports" from different water bodies in the Lune catchment. These Site Reports provide brief information on habitat features, fishery classification and comments on species caught and stocking. This document provides no summary or interpretation of the given data.

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The River Douglas has a long industrial heritage beginning in the early 18th century with its use by boats carrying goods between Wigan and Tarleton. The River and its tributaries have also historically been, and to a certain extent are still, subject to polluting inputs from the urban, agricultural and industrialised areas located within its catchment. During the early stages in the production of the River Douglas Catchment Management Plan, it became apparent that very little data existed on the populations of coarse and salmonid fish species within the River Douglas system. The data that did exist was largely anecdotal, consisting of catch reports from anglers or water bailiffs, or of dead and distressed fish following pollution incidents. This study was initiated to assess the status of coarse and salmonid fish species within the River Douglas system and so address the lack of knowledge. Eighty two sites were surveyed by electric fishing, including 14 sites using an electric fishing punt and up to four anodes. The data was analysed according to a new National Fisheries Classification Scheme. This classified the sites by the fish stock s present and compared the results with a database containing information from sites around the country that have similar habitat types. A stocking experiment was also undertaken in the River Lostock using chub reared at the Leyland Hatchery. These were marked with an identifiable blue spot in the spring of 1995 and then released into three, previously surveyed, locations in the river. These sites were then resurveyed during the summer stock assessment. This report also Site Reports with details on monitored sites, habitat features and fishery classification.

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The authors have developed the method used by Pianet and Le Hir (Doc.Sci.Cent. ORSTOM Pointe-Noire, 17, 1971) for the study of albacore (Thunnus albacares) in the Pointe-Noire region. The method is based on the fact that the ratio between unit of effort and number of fish for two fishing gears is equal to the ratio of their catchability coefficients.