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Trondheim, Norway

Kyaw K.,Trondheim Business School | Paltrinieri N.,Sintef
Safety and Reliability of Complex Engineered Systems - Proceedings of the 25th European Safety and Reliability Conference, ESREL 2015 | Year: 2015

The occurrence of a major accident in today’s industry may have several types of direct and indirect consequences. However, the most common techniques of Quantitative Risk Analysis (QRA) mainly focus on direct consequences of an accident on humans and equipment and disregard relatively secondary repercussions, such as damage to the company reputation. This type of consequence may have a serious impact on the company and lead to negative cascading events for the local community, such as the layoff of personnel and the decline of satellite companies. This paper investigates the cost of reputational damage to the industrial company where major accidents have occurred. Such accidents offer excellent natural experimental setups in which one can closely study the cost of reputational damage, an indirect cost of an accident. The reputational cost is measured by the loss in the market value of company Total SA that has experienced major accidents. The analysis covers the accidents occurred in 2001 in Toulouse (France) and in 2005 in Buncefield (UK). Using event study methodology, losses due to the accidents are measured by cumulative abnormal returns (CARs) in the period following the accidents. The results obtained from the study demonstrate that the reputational damage may exceed other economic losses and should be considered a priority for the industry. For this reason, an improvement of current QRA techniques is suggested in order to account for the economic impact of reputational risk. © 2015 Taylor & Francis Group, London.

Olaussen J.O.,Trondheim Business School | Liu Y.,Norwegian University of Science and Technology
Aquaculture Economics and Management | Year: 2011

This article explores to what extent escaped farmed salmon from fish farms affect the willingness-to-pay for recreational fishing of Atlantic salmon in Norwegian rivers. This is a first attempt to explore the economic consequences of escaped farmed species in terms of the anglers' willingness-to-pay for fishing permits working through the relationship between the price of fishing permits and the share of escaped farmed salmon. The empirical analysis is based on the results from a contingent valuation survey conducted in Norway. It is found that the presence of escaped farmed salmon in Norwegian rivers may have severe economic consequences on the willingness-to-pay for recreational fishing with a reduction of up to 85% compared to a situation with a 'pure' wild salmon stock. © 2011 Taylor and Francis Group, LLC.

Liu Y.,Norwegian University of Science and Technology | Olaf Olaussen J.,Trondheim Business School | Skonhoft A.,Norwegian University of Science and Technology
Marine Policy | Year: 2011

The Salmon industry in Norway includes three sectors, namely sea and river fishing for wild salmon, and salmon farming, or aquaculture. The three sectors provide different social, economic and cultural benefits to society, but also face many problems and challenges. They have different interests, practices, traditions and audiences, and are also administered by different authorities and regulated under varying management regimes and legislations. On the one hand, they complement each other in terms of product supply, employment creation and income; on the other hand, they face conflicts over management objectives and strategies. This paper provides an overview of the salmon sectors associated with their status, challenges and management regimes. It further analyzes their interests and conflicts over economic contribution and management. Finally, some potential solutions are suggested in an attempt to solve these conflicts. © 2010 Elsevier Ltd.

Pettersen I.J.,Trondheim Business School
International Journal of Health Planning and Management | Year: 2011

Hospitals are frequently changing managerial practices due to numerous public sector reforms taking place. In general, these reforms include the making and monitoring of contracts that regulate relations between the hospitals and their professional staffs. The aim of this paper is to discuss some main characteristics of the contracts that regulate the perceived relations between physicians as employees and the public hospital as employer. The theoretical framework is based on a contract theory approach. The empirical data is based on survey data from full-time employed physicians in the medical and surgical divisions in one of the largest university hospitals in Norway. This study shows that perceived obligations and psychological contracts indicate high degree of relational contracts between the hospital and the physicians. These socio-cultural elements should be recognized as important mechanisms of coordination and communication when policy makers and hospital managers are designing hospital management control systems. © 2009 John Wiley & Sons, Ltd.

Olaussen J.O.,Trondheim Business School | Liu Y.,Sintef | Skonhoft A.,Norwegian University of Science and Technology
Fisheries Research | Year: 2015

Increased sea lice densities in the farmed salmon sector have recently led to the growing concerns in Canada, Chile and Norway as the main producer countries. The sea lice incur problems within the farmed fish industry itself as well as in wild stocks. We present a bioeconomic model for wild Atlantic salmon (. Salmo salar) and explore to what extent the harvest and social benefit of wild salmon fishing in Norway are affected by sea lice-induced mortality. An age-structured population model is required to analyze the losses because the salmon post-smolts are the most vulnerable to attack by sea lice, while the harvest value is related to the three age classes of mature spawning fish. Losses are analyzed by determining the reduced harvesting value as well as the non-consumptive (conservation) value of the wild salmon stock pertinent to various sea lice-induced mortality levels. Our findings indicate that welfare and economic losses in a typical Norwegian salmon river may range from 15 to 25%. In addition, at low sea lice levels, the welfare improvement associated with selective harvest is quite modest, and is even lower when non-consumptive values are deemed important. On the other hand, when sea lice-induced mortality levels are very high, the welfare improvements of selective harvest are substantial. © 2015 Elsevier B.V.

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