Local IPOs, local delistings, and the firm location premium

Borrowing a measure from ecology, we introduce a spatial dispersion index to quantify the firm traits related to firm geographic location and investigate firm exposure to local home bias and local investor risk tolerance as determinants of corporate market value. Consistent with the investor preference for local stocks, we find listed firms benefit from a location premium that increases with firm isolation and local investor wealth. IPOs and delistings are found to affect the market value of neighboring listed firms: isolated firms decrease in value when they cluster due to local IPOs while clustered firms increase in value as they become more isolated due to local delistings. Local firm clustering and risk tolerance also affect IPO underpricing. Empirical findings depict a framework where IPOs and delistings are locally jointly determined

Changes in a tropical marine inshore fish community in a macro-tidal estuary (Darwin Harbour, Australia)

Assessing temporal changes and trends in fish communities can assist with management of Darwin Harbour. The diversity and abundance of fish communities were assessed using baited remote underwater system (BRUVS), which uses 'video fishing' - recording fish attracted to a camera by standard bait and has been shown to be an effective non-extractive survey method. The approach is useful for long-term environment monitoring because non-impact nature of visual surveys enables repetitive sampling at reference sitesExecutive summary -- Introduction -- Materials and Methods -- Results -- Discussion -- Acknowledgements -- References -- Appendix.Made available via the Publications (Legal Deposit) Act 2004 (NT

Baited remote underwater remote survey of Rick Mills and Bottle Washer artificial reefs, 2011-2013 (Darwin Harbour, Australia)

Includes bibliographical references.Made available via the Publications (Legal Deposit) Act 2004 (NT

Assessment of Darwin Harbour fish communities using baited remote underwater video station (BRUVS)

Executive summary -- Contents -- Introduction -- Methods -- Results -- Discussion -- Acknowledgments -- References.Date:2012-09Made available via the Publications (Legal Deposit) Act 2004 (NT

Habitat use and spatial segregation of adult spottail sharks Carcharhinus sorrah in tropical nearshore waters

An array of acoustic receivers deployed in Cleveland Bay, north Queensland, Australia, passively tracked 20 adult spottail sharks Carcharhinus sorrah over 2 years (2009–2010) to define patterns in movement and habitat use. Individuals were present in the study site for long periods, ranging from 8 to 408 days (mean = 185). Size and location of home ranges did not vary over time. A high level of segregation occurred among C. sorrah, with individuals using different types of habitat and showing strong attachment to specific regions. The depth of habitat individuals used varied between sexes. Males tended to use a narrow range of habitat depths within the study site (2.8–6.0 m), whereas females used shallower habitats (1.4–6.2 m) and displayed a seasonal shift in the depth of habitat used. Mean monthly habitat depth used varied by as much as 2 m for females, with individuals using shallower habitats during the winter months. Long-term presence and consistent home ranges suggest that Cleveland Bay provides important habitat for C. sorrah. By defining patterns in the use of nearshore habitats for C. sorrah, this study improves the understanding of the movement and habitat use of smaller-bodied coastal sharks and may help provide guidance for the management of their populations