Panel regression of production capacity as a tool for sustainable development of the fishing industry: the example of five Russian fishing companies

Issue № 8, 2026, article № 7, pages 66-73

Language: Russian

Original language title: ПАНЕЛЬНАЯ РЕГРЕССИЯ ПРОИЗВОДСТВЕННЫХ МОЩНОСТЕЙ КАК ИНСТРУМЕНТ УСТОЙЧИВОГО РАЗВИТИЯ РЫБНОЙ ОТРАСЛИ НА ПРИМЕРЕ ПЯТИ ПРОМЫСЛОВЫХ КОМПАНИЙ РОССИИ

Keywords: PANEL REGRESSION, INVESTMENT QUOTAS, FISHING INDUSTRY, FIXED EFFECTS, PORTFOLIO OPTIMIZATION, PRODUCTION CAPACITIES, SUSTAINABLE DEVELOPMENT, BREAK-EVEN POINT

Abstract: The relevance of the paper is due to the paradoxical disconnect between the large-scale capital investments in fleet upgrading under the investment quota program and the disproportionate growth of revenue from deep processing products. Based on panel data of 40 observations (5 enterprises over 8 years), a fixed-effects econometric model is constructed, including as regressors fixed manufacturing funds, the number of reinvestments, having own refrigerated fleet. The Hausman test confirmed the appropriateness of the FE model (p=0.0009), the variance inflation factors did not exceed 2.47, evidencing the absence of multicollinearity. The obtained estimates showed that the withdrawal elasticity for the share of investment quotas is 0.21-0.23, for fixed assets - 0.314, and the presence of cold float gives a premium to the withdrawal of 17.4%. Significant heterogeneity of enterprise fixed effects is revealed: the industry leader has a 40.6% advantage over the baseline, whereas the outsider lags by 15.8%. Lossless points are calculated for each enterprise: one in five is in the zone of operational loss, three have a strength margin of less than 10%. Portfolio quota allocation optimization on pollocki showed the ability to increase aggregate yield by 0.8% at the expense of quota reallocation without changing the total amount of resource extracted. The results can be used when adjusting the mechanism of investment quotas in Rosrybolovstva, in particular when transitioning from formal ship tonnage requirements to indicators of value added and processing depth. Limitations of the study relate to the small sample size, which requires cautious extrapolation of the findings to the entire industry. A promising area is the inclusion of non-financial sustainable development metrics.

Authors: Sakharova Larisa Anatolevna