Perceived risk and risk management strategies in pond aquaculture
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Perceived risk and risk management strategies in pond aquaculture. / Rahman, Md Takibur; Nielsen, Rasmus; Khan, Md Akhtaruzzaman ; Ahsan, Dewan.
In: Marine Resource Economics, Vol. 36, No. 1, 2021, p. 43–69.Research output: Contribution to journal › Journal article › Research › peer-review
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TY - JOUR
T1 - Perceived risk and risk management strategies in pond aquaculture
AU - Rahman, Md Takibur
AU - Nielsen, Rasmus
AU - Khan, Md Akhtaruzzaman
AU - Ahsan, Dewan
PY - 2021
Y1 - 2021
N2 - The growing aquaculture industry is facing several challenges including risks and uncertainties. Studies exploring farmers’ risk perceptions and risk management strategies are, however, limited within pond aquaculture, although they are well described within the field of agriculture. This study explores farmers’ risk perceptions and risk management strategies in pond aquaculture and the relationship of risk perceptions and risk management strategies with farm and farmers’ characteristics. The data are analyzed using principal component analysis and multivariate regression. The results show that price variability and financial risks are perceived as the most influential risk factors. Farm management and financing are perceived as the most effective risk management strategies. In most cases, farmers need to focus on more than one risk management strategy to address a particular type of risk. This study provides knowledge of farmers’ risk perceptions and strategies, which can be used to develop better and more focused management strategies.
AB - The growing aquaculture industry is facing several challenges including risks and uncertainties. Studies exploring farmers’ risk perceptions and risk management strategies are, however, limited within pond aquaculture, although they are well described within the field of agriculture. This study explores farmers’ risk perceptions and risk management strategies in pond aquaculture and the relationship of risk perceptions and risk management strategies with farm and farmers’ characteristics. The data are analyzed using principal component analysis and multivariate regression. The results show that price variability and financial risks are perceived as the most influential risk factors. Farm management and financing are perceived as the most effective risk management strategies. In most cases, farmers need to focus on more than one risk management strategy to address a particular type of risk. This study provides knowledge of farmers’ risk perceptions and strategies, which can be used to develop better and more focused management strategies.
U2 - 10.1086/711066
DO - 10.1086/711066
M3 - Journal article
VL - 36
SP - 43
EP - 69
JO - Marine Resource Economics
JF - Marine Resource Economics
SN - 0738-1360
IS - 1
ER -
ID: 252678283