We try to test the pecking order theory of Korean fisheries firm’s capital structure using debt capacity. At first, we estimate the debt capacity as the probability of assigning corporate bond rating from credit-rating agencies. We use logit regression model to estimate this probability as a proxy of debt capacity. The major results of this study are as follows. Firstly, we can confirm the fisheries firm’s financing behaviour which issues new debt securities for financial deficit. Empirical test of SSM model indicates that the higher probability of assigning corporate bond rating, the higher the coefficient of financial deficit. Especially, high probability group follows this result exactly. Therefore, the pecking order theory of fisheries firm’s capital structure applies well for high probability group which means high debt capacity. It also applies for medium and low probability group, but their significances are not good. Secondly, the most of fisheries firms in high probability group issue new debt securities for their financial deficit. Low probability group’s fisheries firms also issue new debt securities for their financial deficit within the limit of their debt capacity, but beyond debt capacity they use equity financing for financial deficit. Therefore, the pecking order theory on debt capacity come into existence well in high probability group.

This study investigates the effects of the purpose of fishery firms’social contributions on consumers’ purchase intention as a mediator or their fishery firms’brand evaluation. We surveyed 300 consumers in order to empirically test the suggested relationship. The purpose of fishery firms’social contributions was divided into social contribution activities and public interest marketing strategies. Fishery firms’brand evaluation was divided into three aspects including brand awareness, brand image, and brand loyalty. The results showed that the purpose of fishery firms’social contributions significantly affect consumers’purchase intention, brand loyalty as well as brand image except brand awareness. Fishery firms’brand evaluation significantly affect consumers’purchase intention. This study suggests that social contribution activities and public interest marketing strategies are essential for the positive brand evaluation of fishery firms.