European aquaculture companies; perceptions and attitudes toward risk; risk management practices; risk matrix; risk sources; Geography, Planning and Development; Aquatic Science; Ecology
Abstract :
[en] Aquaculture is the fastest-growing food production technology, having surpassed wild catch as a source of seafood. Yet, modern aquaculture is one of the riskiest businesses to enter as entrepreneurs, farmers or investors. As a result, it is critical to understand how aquaculture companies perceive risks, as well as their most relevant risk sources and management practices, as these are necessary steps toward creating a better environment for aquaculture development. Using a mixed-methods approach, the current study examines the perceptions of risk sources and risk management practices by European aquaculture companies. Our findings suggest that risk sources are rated differently depending on the type of company, withdiseases risks beingthe most important for closed-system land-based companies and grow-out sea-cage farms, while land-based companies using open or semi-open systems rated higher environmental risks, and full-cycle sea-cage the market and financial risks. Similarly, results show that there are differences in the ratings of risk management practices among the types of companies. The findings also indicate that land-based companies using open or semi-open systems and full-cycle sea-cage companies were more willing to take risks than other types of companies, while all types of companies consider aquaculture to be a risky business.
Research center :
CEPE - Centre d'Études de la Performance des Entreprises - ULiège [BE]
Disciplines :
General management, entrepreneurship & organizational theory
Author, co-author :
Cantillo, Javier ; HEC Management School, University of Liège, Liège, Belgium ; Institute of Tourism and Sustainable Economic Development, Universidad de Las Palmas de Gran Canaria, Las Palmas de Gran Canaria, Spain
Van Caillie, Didier ; Université de Liège - ULiège > HEC Liège : Centres attachés > Centre d'Etude de la Performance des Entreprises (C.E.P.E.)
Language :
English
Title :
Understanding european aquaculture companies’ perceived risks and risk management practices
Alternative titles :
[fr] Comprendre les risques perçus et les pratiques de gestion des risques des entreprises aquacoles européennes
H2020 - 766347 - BioMedaqu - Aquaculture meets Biomedicine: Innovation in Skeletal Health research.
Name of the research project :
BioMedaqu - Aquaculture meets Biomedicine: Innovation in Skeletal Health research
Funders :
UE - Union Européenne [BE]
Funding text :
This work is part of the project BioMedAqu, which has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Skłodowska-Curie grant agreement [No. 766347].
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