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Master of Science / Department of Agricultural Economics / Aleksan Shanoyan / With the recent increase in record-breaking weather events and the inherent susceptibility of the fishmeal industry to temperature fluctuations, the industry dynamics and sustainability of the Peruvian fishmeal sector has gained renewed attention. Among important causes of concern are the cyclical impact of El Niño Southern Oscillation (ENSO) events on productivity and profitability of fishmeal producing firms, long-term structural changes in the industry, and resulting socio-economic consequences. Although distinct risk management strategies have been implemented by industry players and a range of policy initiatives have been introduced by the government over the years, the firms in the Peruvian fishmeal industry remain highly susceptible to the effects of ENSO events. The increased frequency and magnitude of ENSO events over the past decade has forced relatively less resilient firms out of business and has been accompanied by an observable trend towards increased industry concentration. While there is a potential for efficiency gains and economies of scale from increased concentration, policy makers and industry players have concerns about negative social implications from declining numbers of small and medium firms and shifting competitive dynamics in the industry. As a result, policy-makers and industry stakeholders are in the continuous search for effective strategies and mechanisms for enhancing the resilience of individual fishmeal producers and the overall industry to the effects of ENSO events. The objective of this study is to expand the understanding of factors that affect the resilience of firms to ENSO events in the Peruvian fishmeal industry. The analysis is based on a panel database that combines information from the Peruvian Instituto Nacional de Estadística e Informática (Statistics Institute), Aduanet (Peruvian Customs website), and the Oceanic Niño Index (ONI). The objective is to identify firm characteristics and factors that can potentially enhance the resilience of a firm to the negative impacts of ENSO events. The specific period of study covers the ENSO event that lasted from July 2009 to April 2010. The resilience of individual firms is measured by applying system resilience framework proposed by Barroso et al. (2015). Subsequently, the effect of a range of characteristics on firm resilience is estimated using a fractional response logit method. Among key parameters of interest are the estimated effects of size, experience, location, and participation in government support programs. The results indicate positive relationship between resilience and experience, diversification, access to government subsidy programs, and share of imported inputs. The results also indicate a negative effect of firm size on resilience to ENSO events. The industry and policy implications of the findings are discussed, while highlighting the number of methodological limitations. The overall contribution of this study is twofold. First it presents an application of resilience triangle approach to measuring firm resilience in the context of Peruvian fishmeal industry. Second, it provides new insights on the factors affecting firm resilience to the negative impact of ENSO events. The findings have a potential to inform policy and industry initiatives designed to enhance the industry’s ability to cope with negative consequences of ENSO events.

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Abstract Mergers and Acquisitions often happen in America and Europe, but in Taiwan they are just on the start stage. In the end of 1999, two of top ten securities firms-- Yuanta Securities Firm and Core Pacific Securities Firm merged. This M&A case triggered a series of M&A actions in the securities industry, and the rank and ecology of the industry changed a lot. My thesis focuses on the effects of industry structure and key success factors due to the series of M&A actions in securities industry. My four research objectives are : 1. to find out the motives of securities firms¡¦ M&A 2. to find out what happened to industry structure after the several M&A actions 3. If the industry structure changed, to find out the influences of key success factors of industry 4. Facing the changed industry environment, to give securities firms some suggestions The analysis methods of my thesis are literature reviewing and interviewing the securities firms. Porter¡¦s ¡§Five Forces Model¡¨ is the main analyzing theory. The research results find that the main motive of the securities firms¡¦ M&A is to expand the scale, in order to globalize and develop to be an investment bank. After several M&A actions, the most obvious changes are the decrease of securities firm numbers and the change of rank. The intensity of industry competition alleviates and the threat of substitute and potential entrant diminishes. The bargaining power of customers doesn¡¦t change. As to key successful factors, the importance of securities firms¡¦ size increases. Globalization, training of professional employees, innovation of products and information technology are required resources and capacities of securities firms.

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Abstract The development of MEMS industry had been around 27 years, but it grows dramatically in recent years. The developed country, USA, Japan, German, have first mover advantage in MEMS; the economic of Taiwan is less mature than those countries, lack of lot resources also. The positioning and strategy of Taiwan MEMS become more important. MEMS do not only apply electrical but also mechanical character for sensing or manipulating sound, heat, force, magnetism, light, etc to construct sensor and actuator that can react with environment. By using MEMS, we can build up more friendly user interface to conduct more application than IC. Semiconductor chip is so thin and small to derive low transportation cost and low geometry boundary of competition. The cluster effect of Taiwan semiconductor IC industry is so famous to consider MEMS to become important choice for another future Silicon industry due to MEMS can use IC FAB and the talent of engineer and management. We can acquire more Taiwan competence by taking good position in MEMS through extending IC cluster effect and proper positioning and strategy. This paper wants to understand the trajectory and competence of USA, Japan, German through analysis with five forces, diamond model. Apply SWOT to find out positioning of Taiwan MEMS in the future 10 years; then propose the possible way to quickly, firmly develop Taiwan MEMS industry by apply diamond model, management route, dynamic strategy. Keyword: MEMS, MEMS industry, industry development, SWOT, diamond model, industry structure

This thesis examines J. H. Todd & Sons Ltd., a British Columbia family-owned and run fish packing company during the years 1881 through 1954. The research presented in this paper outlines the contribution of individual Todd family members to both the success and eventual demise of the company. Also examined is the history of the B. C. salmon canning industry, the evolution of J. H. Todd & Sons Ltd., the role of the company in the broader context of the B. C. fishing industry; and the factors that led to the demise of the company. This thesis relies on documentary primary sources as well as an extensive oral history collection obtained from Todd family members and employees. / Graduate / 0334 / 0509 / 0510 / micfitz@shaw.ca

A model of two unionized, vertically connected oligopolistic industries is analyzed. Economic performance, measured by consumer prices, depends on the institutional setting of wage bargaining. Two externalities may occur, namely an integration and a competition externality, which have contrary effects. With decentralized bargaining no externalities can be internalized resulting in low consumer prices. With bargaining at the industry level only the competition externality is internalized resulting in high prices. With centralized bargaining both externalities can be internalized resulting again in low prices. With at least two firms in each industry, the decentralized setting performs best. Performance improves with an increase in the competition of the product markets. (author's abstract) / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"

In the aftermath of the financial crisis where global aggregate demand is struggling, countries occasionally get accused of weakening their currency to gain competitiveness. The method of weakening the currency to gain competitiveness is explained by the Marshall-Lerner condition, which states that a devaluation in the long-term will strengthen the balance of trade. But is this policy always rational? And if not, which economies should avoid it? This study investigates whether the structure of the export industry can explain the varying response in the balance of trade from a devaluation. The Johansen Procedure with a Vector Error Correction Model is used to estimate long-run price elasticities of demand for exports and imports. The countries chosen are among the 30 countries with the lowest rank of economic complexity based on its output, listed by the Observatory of Economic Complexity. The exports of these countries are consisting of a single or a few goods, which enables for investigating how individual industries respond to a devaluation. The hypothesis is that there are differences between labour- and capital-intensive economies and that the former should respond more positive to a devaluation than the latter. The results indicate that there is a pattern, to the opposite of the hypothesis, where the capital-intensive economies respond more positive to a devaluation than the labour-intensive economies. This could be misleading due to underlying factors that should be controlled for to be able to produce reliable estimates. The Marshall-Lerner condition is fulfilled for two countries, Gabon and Niger, out of nine in the final sample.