Measuring the influence of customer-based store brand equity in the purchase intention

[EN] Store brands account for and important market share in the Spain and a further increase in expected in the next years due to the downturn. However, there is lack of research on store brand customer-based Brand Equity. This study attempts to propose an integrated model of Brand Equity in store or retailer brands, based on Aaker s well-known conceptual model. We propose a consumer-based model, including the main sources or dimensions of Brand Equity and considering the intention to purchase as a consequence. Based on a sample of 362 consumers and 5 store brands, structural equation modeling is used to test research hypotheses. The results obtained reveal that store brand awareness, loyalty along with store brand perceived quality have a significant influence on consumers intention to purchase store brands. Our study suggests that marketers and marketing managers from retailing companies should carefully consider the Brand Equity components when designing their brand strategies, and develop marketing activities in order to enhance their brands awareness.

Systematic liquidity: commonality and inter-temporal variation in the Portuguese stock market

[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.

Size composition of the catches of the pink shrimp Penaeus duorarum notialis in the shrimp fishery of Sierra Leone

Measurements were taken of size distribution of P. d. notialis collected off Sierra Leone over a period of six months from October 1977 to March 1978. From the frequency distribution curves it is observed that the curves for male shrimps show only one or two major modes, which show prominence between 12.5 and 14.1 cm of total length. Females mostly exhibited size groups with three or four different length ranges and occasional occurrence of 1 to 5 modes. These size groups were observed to show continuous changes. No one group could be said to be permanent. The point of entry into the fishery of male shrimps was found to be at an average total length of 10.5 cm, while females did so at 11 cm. Sex ratios in the different samples were usually 1:1 but in one case the males were more numerous by 2:1 and in four other samples females were significantly preponderent. These departures from the 1:1 ratio may have been artificially created by sorting of the catches on board the ships.

The abiotic ecology of breeding ground of Palaemonid prawns in the Ilaje Estuary, Ondo State, Nigeria

In situ ecological assessment of the breeding grounds of palaemonid prawns was conducted in some selected locations around Ondo state coastal area between the months of April and September. Data obtained were subjected to both descriptive and inferential statistics. Three species of Palaemonid prawns were identified in four different locations within the study area with relative abundance ratio of 4:3:1. Macrobrachium macrobrachion, Nematopalaemon hastatus and Palaemon maculatus respectively. Sex ratio of 1 male to 5 females for M. macrobrachion, and 1 male to 2 females for N. hastatus and P. maculatus were observed with result showing significant relationships (P < 0.05) in distribution patterns across collection sites. Population distribution within the water column showed that palaemons are sub-lithoral prawns inhabiting maximum mean depth of 0.67m ± 0.025. Surface macro-phytes such as Eichhornia crassipies, Paspalum vaginatum, and Pistia stratiotes are common providing hiding spots for the prawn at the breeding ground. The mean soil pH across the sites stands at 6.67± 0.399 with the soil textural class that range from silty-loam to silty-clay. Also, the water quality parameters of study areas suggest that captive culture and rearing of Palaemons may be feasible outside the breeding areas.

Estimates of body sizes at maturation and at sex change, and the spawning seasonality and sex ratio of the endemic Hawaiian grouper (Hyporthodus quernus, F. Epinephelidae)

A case study of the reproductive biology of the endemic Hawaiian grouper or hapu’upu’u (Hyporthodus quernus) is presented as a model for comprehensive future studies of economically important epinephelid groupers. Specimens were collected throughout multiple years (1978–81, 1992–93, and 2005–08) from most reefs and banks of the Northwestern Hawaiian Islands. The absence of small males, presence of atretic oocytes and brown bodies in testes of mature males, and both developed ovarian and testicular tissues in the gonads of five transitional fish provided evidence of protogynous hermaphroditism. No small mature males were collected, indicating that Hawaiian grouper are monandrous (all males are sex-changed females). Complementary microscopic criteria also were used to assign reproductive stage and estimate median body sizes (L50) at female sexual maturity and at adult sex change from female to male. The L50 at maturation and at sex change was 580 ±8 (95% confidence interval [CI]) mm total length (TL) and 895 ±20 mm TL, respectively. The adult sex ratio was strongly female biased (6:1). Spawning seasonality was described by using gonadosomatic indices. Females began ripening in the fall and remained ripe through April. A February–June main spawning period that followed peak ripening was deduced from the proportion of females whose ovaries contained hydrated oocytes, postovulatory follicles, or both. Testes weights were not affected by season; average testes weight was only about 0.2% of body weight—an order of magnitude smaller than that for ovaries that peaked at 1–3% of body weight. The species’ reproductive life history is discussed in relation to its management.

Reproductive biology of blue marlin (Makaira nigricans) in the western Pacific Ocean

The reproductive biology of blue marlin (Makaira nigricans) was assessed from 1001 fish (ranging from 121 to 275 cm in eye-to-fork length; EFL) caught by Taiwanese offshore longliners in the western Pacific Ocean from September 2000 to December 2001 and from 843 gonad samples from these fish, The overall sex ratio of the catch was approximately 1:1 dur ing the sampling period, but blue marlin are sexually dimorphic; females are larger than males. Reproductive activity (assessed by histology), a gonadosomatic index, and the distribution of oocyte diameters, indicated that spawning occurred predominantly from May to September. The estimated sizes-at-maturity (EFL50) were 179.76 ±1.01 cm (mean ±standard error) for females and 130 ±1 cm EFL for males. Blue marlin are multiple spawners and oocytes develop asynchronously. The proportion of mature females with ovaries containing postovulatory follicles (0.41) and hydrated oocytes (0.34) indicated that the blue marlin spawned once every 2–3 days on average. Batch fecundity (BF) for 26 females with the most advanced oocytes (≥1000 μm), but without postovulatory follicles, ranged from 2.11 to 13.50 million eggs (6.94 ± 0.54 million eggs). The relationships between batch fecundity (BF, in millions of eggs) and EFL and round weight (RW, kg) were BF = 3.29 × 10 –12 EFL5.31 (r2 = 0.70) and BF = 1.59 × 10–3 RW 1.73 (r2= 0.67), respectively. The parameters estimated in this study are key information for stock assessments of blue marlin in the western Pacific Ocean and will contribute to the conservation and sustainable yield of

Habitat and bycatch effects on population parameters of inshore lizardfish (Synodus foetens) in the north central Gulf of Mexico

We examined the effect of habitat and shrimp trawl bycatch on the density, size, growth, and mortality of inshore lizardfish (Synodus foetens), a nonexploited species that is among the most widespread and abundant benthic fishes in the north central Gulf of Mexico. Results of quarterly trawl sampling conducted from spring 2004 through spring 2005 revealed that inshore lizardfish are most abundant on sand habitat, but larger fish are more common on shell rubble habitat. There was no significant difference in fish density between habitats exposed to shrimp trawling on the open shelf versus those habitats within a permitted artificial reef zone that served as a de facto no-trawl area; this finding indicates that either inshore lizardfish experienced minimal effects from trawling or, more likely, that fish moved between trawled and nontrawled habitats. Exploitation ratio (bycatch mortality/total morality) estimates derived from catch curve analysis ranged from 0.43 inside the artificial reef zone to 0.55 outside the reef zone, thus indicating that inshore lizardfish are subject to significant fishing mortality in the north central Gulf of Mexico despite the lack of a directed fishery for the species. We infer from this result that effects of shrimp trawl bycatch may be significant at the population level for nonexploited species and that a broader ecosystem-scale examination of bycatch effects is warranted.

The potential use of time-area closures to reduce catches of bigeye tuna (Thunnus obesus) in the purse-seine fishery of the eastern Pacific Ocean

Skipjack (Katsuwonus pelamis), yellowfin (Thunnus albacares), and bigeye (Thunnus obesus) tunas are caught by purse-seine vessels in the eastern Pacific Ocean (EPO). Although there is no evidence to indicate that current levels of fishing-induced mortality will affect the sustainability of skipjack or yellowfin tunas, fishing mortality on juvenile (younger than 5 years of age) bigeye tuna has increased, and overall fishing mortality is greater than that necessary to produce the maximum sustainable yield of this species. We investigated whether time-area closures have the potential to reduce purse-seine bigeye catches without significantly reducing skipjack catches. Using catch and effort data for 1995–2002, we identified regions where the ratio of bigeye to skipjack tuna catches was high and applied simple closed-area models to investigate the possible benefits of time-area closures. We estimated that the most optimistic and operationally feasible 3-month closures, covering the equatorial region of the EPO during the third quarter of the year, could reduce bigeye catches by 11.5%, while reducing skipjack tuna catches by 4.3%. Because this level of bigeye tuna catch reduction is insufficient to address sustainability concerns, and larger and longer closures would reduce catches of this species signficantly, we recommend that future research be directed toward gear technology solutions because these have been successful in many other fisheries. In particular, because over 50% of purse-seine catches of bigeye tuna are taken in sets in which bigeye tuna are the dominant species, methods to allow the determination of the species composition of aggregations around floating objects may be important.

Exploitation and reproduction of the spotted eagle ray (Aetobatus narinari) in the Los Frailes Archipelago, Venezuela

We studied a small artisanal fishery for the spotted eagle ray (Aetobatus narinari) off Margarita Island in northeastern Venezuela. We analyzed data from 413 fishing trips directed at A. narinari over a 29-month sampling period (August 2005–December 2007). These trips yielded 55.9 metric tons and 1352 individuals from which a subsample of 846 females and 321 males was used for biological data. Maximum fishing effort and landings occurred between February and May, and catch per unit of effort was highest between December and February and between July and October with an overall average of 3 individuals and 133 kg per trip. The overall sex ratio was significantly different from 1:1 with a predominance of females. Females ranged in size with disc widths (DW) from 64 to 226 cm. Males ranged in size between 97 and 190 cm DW. There was no statistically significant difference between male and female length-weight relationships. Mean fecundity was estimated at 3.09 embryos per female, and the largest embryo measured 44.5 cm DW. Females in different maturity stages were found in all months, except November 2007, the month when all females were immature. Postgravid females occurred mainly during the periods of January–May and July–October. Mean length (L50) at maturity was estimated at 129.2 cm DW for males and 134.9 cm DW for females. This study provides much needed information on the biology and life history of A. narinari for the management of an intensive, directed, small-scale fishery for this little known species in northeastern Venezuela.

Morphometric differentiation in small juveniles of the pink spotted shrimp (Farfantepenaeus brasiliensis) and the southern pink shrimp (F. notialis) in the Yucatan Peninsula, Mexico

The morphometric and morphological characters of the rostrum have been widely used to identify penaeid shrimp species (Heales et al., 1985; Dall et al., 1990; Pendrey et al., 1999). In this setting, one of the constraints in studies of penaeid shrimp populations has been the uncertainty in the identification of early life history stages, especially in coastal nursery habitats, where recruits and juveniles dominate the population (Dall et al., 1990; Pérez-Castañeda and Defeo, 2001). In the western Atlantic Ocean, Pérez-Farfante (1969, 1970, 1971a) described diagnostic characters of the genus Farfantepenaeus that allowed identification of individuals in the range of 8−20 mm CL (carapace length) on the basis of the following morphological features: 1) changes in the structure of the petasma and thelycum; 2) absence or presence of distomarginal spines in the ventral costa of the petasma; 3) the ratio between the keel height and the sulcus width of the sixth abdominal somite; 4) the shape and position of the rostrum with respect to the segments and flagellum of the antennule; and 5) the ratio between rostrum length (RL) and carapace length (RL/CL). In addition, she classified Farfantepenaeus into two groups according to the shape and position of the rostrum with respect to the segments and flagellum of the antennule and the ratio RL/CL: 1) F. duorarum and F. notialis: short rostrum, straight distally, and the proximodorsal margin convex, usually extending anteriorly to the end of distal antennular segment, sometimes reaching to proximal one-fourth of broadened portion of lateral antennular flagellum, with RL/CL <0.75; and 2) F. aztecus, F. brasiliensis, F. paulensis, and F. subtilis: long rostrum, usually almost straight along the entire length, extending anteriorly beyond the distal antennular segment, sometimes reaching to the distal one-third of broadened portion of lateral antennular flagellum, with RL/CL >0.80. Pérez-Farfante stressed that, for the recognition to species level of juveniles <10 mm CL, all the characters listed above should be considered because occasionally one alone may not prove to be diagnostic. However, the only characters that could be distinguished for small juveniles in the range 4−8 mm CL are those defined on the rostrum. Therefore, it has been almost impossible to identify and separate small specimens of Farfantepenaeus (Pérez-Farfante, 1970, 1971a; Pérez-Farfante and Kensley, 1997).

Population structure and variance effective size of red snapper (Lutjanus campechanus) in the northern Gulf of Mexico*

We assayed allelic variation at 19 nuclear-encoded microsatellites among 1622 Gulf red snapper (Lutjanus campechanus) sampled from the 1995 and 1997 cohorts at each of three offshore localities in the northern Gulf of Mexico (Gulf). Localities represented western, central, and eastern subregions within the northern Gulf. Number of alleles per microsatellite per sample ranged from four to 23, and gene diversity ranged from 0.170 to 0.917. Tests of conformity to Hardy-Weinberg equilibrium expectations and of genotypic equilibrium between pairs of micro-satellites were generally nonsignificant following Bonferroni correction. Significant genic or genotypic heterogeneity (or both) among samples was detected at four microsatellites and over all microsatellites. Levels of divergence among samples were low (FST ≤0.001). Pairwise exact tests revealed that six of seven “significant” comparisons involved temporal rather than spatial heterogeneity. Contemporaneous or variance effective size (NeV) was estimated from the temporal variance in allele frequencies by using a maximum-likelihood method. Estimates of NeV ranged between 1098 and >75,000 and differed significantly among localities; the NeV estimate for the sample from the northcentral Gulf was >60 times as large as the estimates for the other two localities. The differences in variance effective size could ref lect differences in number of individuals successfully reproducing, differences in patterns and intensity of immigration, or both, and are consistent with the hypothesis, supported by life-history data, that different “demographic stocks” of red snapper are found in the northern Gulf. Estimates of NeV for red snapper in the northern Gulf were at least three orders of magnitude lower than current estimates of census size (N). The ratio of effective to census size (Ne/N) is far below that expected in an ideal population and may reflect high variance in individual reproductive success, high temporal and spatial variance in productivity among subregions or a combination of the two.

Toward identification of larval sailfish (Istiophorus platypterus), white marlin (Tetrapturus albidus), and blue marlin (Makaira nigricans) in the western North Atlantic Ocean*

The identification of larval istiophorid billfishes from the western North Atlantic Ocean has long been problematic. In the present study, a molecular technique was used to positively identify 27 larval white marlin (Tetrapturus albidus), 96 larval blue marlin (Makaira nigricans), and 591 larval sailfish (Istiophorus platypterus) from the Straits of Florida and the Bahamas. Nine morphometric measurements were taken for a subset of larvae (species known), and lower jaw pigment patterns were recorded on a grid. Canonical variates analysis (CVA) was used to reveal the extent to which the combination of morphometric, pigment pattern, and month of capture information was diagnostic to species level. Linear regression revealed species-specific relationships between the ratio of snout length to eye orbit diameter and standard length (SL). Confidence limits about these relationships served as defining characters for sailfish >10 mm SL and for blue and white marlin >17 mm SL. Pigment pattern analysis indicated that 40% of the preflexion blue marlin examined possessed a characteristic lower jaw pigment pattern and that 62% of sailfish larvae were identifiable by lower jaw pigments alone. An identification key was constructed based on pigment patterns, month of capture, and relationships between SL and the ratio of snout length to eye orbit diameter. The key yielded identifications for 69.4% of 304 (blind sample) larvae used to test it; only one of these identifications was incorrect. Of the 93 larvae that could not be identified by the key, 71 (76.3%) were correctly identified with CVA. Although identif ication of certain larval specimens may always require molecular techniques, it is encouraging that the majority (92.4%) of istiophorid larvae examined were ultimately identifiable from external characteristics alone.

Changes in consumer tastes in the demand for fish and meat in Malaysia

In this article the demand for fish and its substitute was estimated using a very flexible demand function, the Almost Ideal Demand System (AIDS) developed by Deaton and Muelllbaeur (1980), incorporating the habit formation variable to measure the impact of the changes in tastes in comsumer demand for fish and meat products from 1960 to 1990 in Malaysia. Information on price and income elasticities for these meat groups was also obtained. To incorporate consumption habit variables, the dynamic translating procedure proposed by Pollak (1970) and Pollak and Wales (1981) has been adopted. The overall results of the maximum likelihood estimates of the dynamic AIDS model are quite good where 19 of 30 coefficients are significantly different from zero and the minimum budget shares, the constant, are between zero and one for each meat type. Consumers tend to purchase and consume fish, chicken, and pork almost daily. Beef and mutton are only consumed occassionally since they are relatively more expensive. This finding is consistent with the trend observed in the per capita consumption and budget share where fish, chicken, and pork tended to dominate over beef and mutton from 1960 to 1990.

Community-based marine protected areas in the Bohol (Mindanao) Sea, Philippines

This paper discusses the status, direction and management issues in the marine protected areas (MPAs) of the Bohol (Mindanao) Sea, Philippines. The MPAs in the study area have increased through the years. Many of them were established and managed by the local government units (LGUs) in collaboration with national government agencies (NGAs), academic institutions, people’s and non-governmental organizations (NGOs). Several management issues and problems were cited by the MPA managers such as insuffi cient funds and facilities, lack of support from NGAs/NGOs and lack of education among the people. Nevertheless, lessons for sustainability can be learned from the experience of some wellmanaged MPAs in the Bohol Sea. These include strong support from the political leadership, community participation and networking among the concerned sectors. Although the best practices are being followed in a number of MPAs in the Bohol Sea, success is still fragmented. The MPAs are currently managed independently although there are ongoing initiatives to network their efforts. However, it can be observed that, as a management tool, MPAs are gaining popularity and support, not only among the fisherfolk but also among local communities and LGUs in the Bohol Sea area.