The Price of Knowledge: Fisheries Management as a Research Tool

1978 ◽  
Vol 35 (2) ◽  
pp. 208-212 ◽  
Author(s):  
William Silvert
Keyword(s):  
Fisheries Management ◽  
Risk Taking ◽  
Management Strategy ◽  
Scientific Information ◽  
Economic Value ◽  
Short Term ◽  
Management Objectives ◽  
Term Management ◽  
Future Management

One of the side effects of fisheries management is the discovery of new scientific information. Since this information has economic value, in that it can be used to improve future management of the fishery, the information that can be gained through a particular management strategy should not be ignored in evaluating that strategy. This paper shows using a simple model, how the research component of fisheries management can be measured and used to plan an optimal strategy. The management objectives are taken to include avoidance of risk and maximization of yield. The results depend critically on the time horizon for management. Long-term management favors creative risk-taking and leads to optimal future exploitation, while management based on short-term considerations may freeze the fishery in a permanent pattern of suboptimal yields. Key words: fisheries management, optimal control

Enuresis: Myths, Misunderstandings and Solutions

1995 ◽  
Vol 1 (1) ◽  
pp. 74
Author(s):  
Martin Knapp
Keyword(s):  
Management Strategies ◽  
Short Term ◽  
Treatment Facilities ◽  
Conditioning Therapy ◽  
Treatable Condition ◽  
Term Management

Advice on enuresis has been provided by a range of individuals. Many myths and misunderstandings have been responsible for the confusing range of opinions given to those who seek help. Management should be based on an understanding of the physiology of the condition and the established facts about its treatment. There is still a lack of awareness about how effective are the management strategies now proposed by those who base their practise on the extensive research that is now documented. The best results are obtained with conditioning therapy, when this is supervised and supported. There is an important role for 'wetness' alarms in conditioning. There are now body-worn mini-alarms, established by over a decade of use, that are inexpensive and reliable. There is a decreasing role for tricyclic medication. The recently introduced pharmaceutical Minirin (desmopressin) is useful in short-term management to get dryness on social occasions and, in selected individuals, might have a role in long-term control of enuresis, when conditioning has not been effective. There is an important need to provide advice and treatment facilities for all those with enuresis - a treatable condition.

scholarly journals Inclusion of ecological, economic, social, and institutional considerations when setting targets and limits for multispecies fisheries

2017 ◽  
Vol 74 (2) ◽  
pp. 453-463 ◽  
Author(s):  
Anna Rindorf ◽  
Catherine M. Dichmont ◽  
James Thorson ◽  
Anthony Charles ◽  
Lotte Worsøe Clausen ◽  
...  
Keyword(s):  
Fisheries Management ◽  
Multiple Objectives ◽  
Fisheries Governance ◽  
Ecological Economic ◽  
Multispecies Fisheries ◽  
Institutional Aspects ◽  
New Research ◽  
Ecosystem Based Fisheries Management ◽  
Term Management

Targets and limits for long-term management are used in fisheries advice to operationalize the way management reflects societal priorities on ecological, economic, social and institutional aspects. This study reflects on the available published literature as well as new research presented at the international ICES/Myfish symposium on targets and limits for long term fisheries management. We examine the inclusion of ecological, economic, social and institutional objectives in fisheries management, with the aim of progressing towards including all four objectives when setting management targets or limits, or both, for multispecies fisheries. The topics covered include ecological, economic, social and governance objectives in fisheries management, consistent approaches to management, uncertainty and variability, and fisheries governance. We end by identifying ten ways to more effectively include multiple objectives in setting targets and limits in ecosystem based fisheries management.

Long-Term Orientation and Earnings Management Strategies

2019 ◽  
Vol 18 (3) ◽  
pp. 97-119 ◽  
Author(s):  
Jesper Haga ◽  
Fredrik Huhtamäki ◽  
Dennis Sundvik
Keyword(s):  
Earnings Management ◽  
High Precision ◽  
Management Strategy ◽  
Management Strategies ◽  
Real Earnings Management ◽  
Short Term ◽  
Country Level ◽  
Earnings Benchmarks ◽  
Jel Classifications

ABSTRACT In this study, we investigate how country-level long-term orientation affects managers' willingness to engage in earnings management and choice of earnings management strategy. Using a comprehensive dataset of 47 countries for the period from 2003 to 2015, we find that firms in long-term-oriented cultures rely relatively more on earnings management through accruals, while firms in short-term-oriented cultures engage in relatively more real earnings management. Furthermore, we find a larger discontinuity around earnings benchmarks in long-term-oriented cultures suggesting that manipulation of accruals enables benchmark beating with high precision. JEL Classifications: M14; M16; M21; M41.

scholarly journals Treatment of penile lichen sclerosus with topical corticosteroids for over 25 years’ duration: A case report

2018 ◽  
Vol 6 ◽  
pp. 2050313X1879504 ◽  
Author(s):  
Matthew Howard ◽  
Anthony Hall
Keyword(s):  
Case Report ◽  
Relevant Literature ◽  
Lichen Sclerosus ◽  
Short Review ◽  
Short Term ◽  
Topical Corticosteroids ◽  
Long Term Follow Up ◽  
Term Management

Topical corticosteroids are currently recommended only for short-term management of flares of lichen sclerosus, with efficacy in halting disease progression. Given the chronic nature of this condition, there is a lack of literature surrounding the chronic effects of topical corticosteroids on the male genitalia with many dermatologists avoiding prescribing long term. This case report aims to provide anecdotal observation for the long-term use of topical corticosteroids and details the long-term follow-up of an individual who used potent and superpotent topical corticosteroids for over 25 years without significant demonstrable side effects. A short review on relevant literature is provided.

scholarly journals Time Horizon, Costs of Equity Capital, and Generic Investment Strategies of Firms

2007 ◽  
Vol 20 (1) ◽  
pp. 1-15 ◽  
Author(s):  
Thomas Zellweger
Keyword(s):  
Default Risk ◽  
Time Horizon ◽  
Family Firms ◽  
Economic Value ◽  
Equity Capital ◽  
Investment Strategies ◽  
Cost Of Equity Capital ◽  
Short Term ◽  
Investment Projects

Recent literature (McNulty, Yeh, Schulze, & Lubatkin, 2002) states that the assumptions behind the capital asset pricing model, in particular the irrelevance of time horizon, do not correspond to the characteristics of firms that prefer long-term investment horizons. I show that family firms display a longer time horizon than most of their nonfamily counterparts, since (1) family firms display a longer CEO tenure, (2) this type of firm strives for long-term independence and succession within the family, and (3) due to the fact that family firms are overrepresented on western European stock markets in cyclical industries in which business cycles inhibit short-term success. As the annual default risk of an investment diminishes with increasing holding period (Hull, 2003), the risk-equivalent cost of equity capital of firms with longer planning horizons (e.g., family firms) can be lower as well. Based on the assumption that economic value to shareholders is created when firms invest in projects with returns above the associated cost of capital (Copeland, Koller, & Murrin, 2000), I argue that long-term-oriented firms can tackle unique investment projects represented by two generic investment strategies—the perseverance and the outpacing strategy. The first one, the perseverance strategy, represents investment strategies in which long-term-oriented firms invest in lower return but equal risk projects than their more short-term-oriented counterparts. The second one, the outpacing strategy, comprises investment projects with higher risk and equal return than the short-term competitors.

scholarly journals Regulação ineficaz para forçar alongamento: O caso da Previdência Complementar Aberta no Brasil

2019 ◽  
Vol 17 (4) ◽  
pp. 33
Author(s):  
Luiz Guilherme Carpizo ◽  
Márcio Gomes Pinto Garcia
Keyword(s):  
Interest Rate ◽  
Portfolio Management ◽  
Risk Taking ◽  
Causal Effect ◽  
Portfolio Allocation ◽  
Short Term ◽  
Additional Risk ◽  
The Interest Rate ◽  
The Impact

<p>Despite the fall in the interest rate observed in Brazil in recent decades, and specific regulations on the private pension segment that encourage long-term risk taking, institutions in this segment appear to be considerably sensitive to short-term factors, while avoiding exposure to long-term risk factors. With portfolio allocation data from large entities, we implemented a VAR model to evaluate the impact of interest rate changes on portfolio management decisions and performed a counterfactual analysis to define the causal effect of regulation on additional risk taking. Results indicate that interest rate increases lead to significant and persistent reduction of investment in riskier assets with longer maturities, while the implemented regulation was not able to force greater risk-taking by institutions, in addition to generating distortions in segments of the Brazilian financial market.</p>

Corporate risk-taking with long-term, short-term and subordinate credit ratings

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dror Parnes
Keyword(s):  
Risk Taking ◽  
Design Methodology ◽  
Credit Ratings ◽  
Short Term ◽  
Content Type ◽  
Interaction Terms ◽  
Domestic Credit ◽  
Lag Variables ◽  
Corporate Risk

PurposeThis study empirically examines, from the first quarter of 1981 until the fourth quarter of 2017, the relations across customary domestic issuer credit ratings (long-term, short-term and subordinate) and three popular corporate risk-taking measurements (the variability of operating profitability, net profitability, and research and development expenses).Design/methodology/approachThe author deploys categorical regressions and robustness tests with control variables, interaction terms, fixed effect variables, lag variables and delta variables.FindingsThe author documents that both short-term and subordinate domestic credit ratings are key determinants of the volatility of operating profitability. The author also identifies long-term credit ratings as secondary factors, yet they do affect broader corporate risk-taking behavioral features (along all three measurements). Furthermore, the author finds that the higher (lower) the credit ratings assigned, i.e. the superior (inferior) the credit quality externally judged, the more (less) overall risk firms tend to undertake.Originality/valueIt is the first research to examine both the inclusive influence and the granular effects of credit ratings on corporate risk-taking (CRT) behavior. It is also the only enquiry to inspect the specific relationships along three types of domestic issuer credit ratings: long-term, short-term and subordinate ratings.

scholarly journals The Triad of Risk-Related Behaviors (TriRB): A Three-Dimensional Model of Cyber Risk Taking

2018 ◽  
Vol 60 (8) ◽  
pp. 1163-1178 ◽  
Author(s):  
Noam Ben-Asher ◽  
Joachim Meyer
Keyword(s):  
Risk Taking ◽  
Three Dimensional ◽  
Three Dimensional Model ◽  
Short Term ◽  
Targeted Interventions ◽  
Protective Actions ◽  
Alerting System ◽  
Tactical Decisions ◽  
Cyber Risk

Objective: We identify three risk-related behaviors in coping with cyber threats—the exposure to risk a person chooses, use of security features, and responses to security indications. The combinations of behaviors that users choose determine how well they cope with threats and the severity of adverse events they experience. Background: End users’ coping with risks is a major factor in cybersecurity. This behavior results from a combination of risk-related behaviors rather than from a single risk-taking tendency. Method: In two experiments, participants played a Tetris-like game, attempting to maximize their gains, while exogenous occasional attacks could diminish earnings. An alerting system provided indications about possible attacks, and participants could take protective actions to limit the losses from attacks. Results: Variables such as the costs of protective actions, reliability of the alerting system, and attack severity affected the three behaviors differently. Also, users dynamically adjusted each of the three risk-related behaviors after gaining experience with the system. Conclusion: The results demonstrate that users’ risk taking is the complex combination of three behaviors rather than the expression of a general risk-taking tendency. The use of security features, exposure to risk, and responses to security indications reflect long-term strategy, short-term tactical decisions, and immediate maneuvering in coping with risks in dynamic environments. Application: The results have implications for the analysis of cybersecurity-related decisions and actions as well as for the evaluation and design of systems and targeted interventions in other domains.

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