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Enhancing the effectiveness of thermal water consumption via heat pumping
53-58Views:319Renewable technologies and the extension of their scope of usage basically has to face the general obstacles like any other novelties newly introduced to the market. In the case of environmentally friendly and clean technologies we must consider another critical aspect: the knowledge and the trust of the potential future users. To influence these people first we must extend their knowledge regarding renewable energies so they will be able to change their own approach about them. Usually the most crucial factor is the economic efficiency which determines the attitude of the majority of the users. Even the ones whose decision making process is highly based on the environmental patterns. In the case of any technology, the economic aspect is significantly influenced by its operational effectiveness. So this analysis – besides the direct economic matters – aims to examine how the performance of thermal water heating in greenhouses can be improved by using heat pumping.
JEL classification: Q42
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Comparing parametric and semiparametric error correction models for estimation of long run equilibrium between exports and imports
19-23Views:344This paper introduces the semiparametric error correction model for estimation of export-import relationship as an alternative to the least squares approach. The intent is to demonstrate how semiparametric error correction model can be used to estimate the relationship between Ghana’s export and import within the context of a generalized additive modelling (GAM) framework. The semiparametric results are compared to common parametric specification using the ordinary least squares regression. The results from the semiparametric and parametric error correction models (ECM) indicate that the error correction term and import variable are significant determinants of Ghana’s exports. On the basis of Akaike Information Criteria and Generalized Cross-Validation (GCV) scores, it is found that the semiparametric error correction model provides a better fit than the widely used parametric error correction model for modeling Ghana’s export-import relationship. The results of the analysis of variance provide further evidence of nonlinearity in Ghana’s export and import relationship. In effect, this paper demonstrates the usefulness of semiparametric error correction model in the estimation of export – import relationship.
JEL code: C14, C18, C22, F10, F14
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Analysis of demand for wellness and medical tourism in Hungary
57-62Views:487Health tourism in Hungary holds major opportunities. When analysing medical and wellness accommodation data, it can be stated that the Hungarian population is keenly interested in health-related tourism services. From the aspect of further development, health tourism based on medical services can be a take-off point for Hungarian tourism. In my opinion, the next few years will be crucial for Hungary’s ranking among health tourism destinations. The country’s initial circumstances are rather favourable, whereas the revaluation of the quality aspects of these services and the fact that the surrounding countries have also recognised the opportunities in health tourism led to an intensified competitive environment. Consequently, if Hungary does not take advantage of its current opportunities, there will be even less chance to develop the country into the primary thermal and medicinal waterbased health tourism destination of Europe in ten years. Yet, this is one of the foci of the objectives set out in the New Széchenyi Plan.
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Analysis of the cavebath of Miskolctapolca’s brand elements and guests satisfaction
155-160Views:627In the region of Northern Hungary the unique Cavebath of Miskolcatapolca is one of the leading health tourism service positioning itself on national and international market with its developing supply items and 4 star qualifications. It has a unique natural background all over in Europe; this uniqueness gives an opportunity to develop brand, which is a determinative item of competitiveness. Because of the competition between destinations and the ever-changing nature of tourists’ expectations and behavior tourism destinations need to be managed as other commercial brands. The aim of our research was to analyze the role and possibilities of product development which is based on the unique natural factors, and to help to expand the domestic health tourism supply. We examined how the possibility of branding and brand equity change based on brand elements; how satisfied are guests with the services; how often guests visit the bath; what kind of period guests arrive in the bath; what kind of services do guests try; how do guests arrive in the bath with. In summer of 2014 we asked 210 Hungarian customers to fill the questionnaire in the Cavebath. The choosing of guests happened randomly. 199 questionnaires were correctly filled.
JEL CODE: Z32
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Nexus of non-farm enterprises and rural households’ livelihood: evidence from Nigeria
Views:319Agricultural sector in Nigeria is faced with diverse challenges that threaten the survival of rural households who constitute a significant proportion of the country’s population, thereby forcing them to diversify into alternative occupations outside farming. This study assessed the contributions of non-farm enterprises to livelihood of rural households in Osun State, Nigeria. The quantitative data were elicited from120 rural households’ heads across the state. The data collected analysis appropriate statistics. Results revealed that majority of rural households were involved in multiple non-farm enterprises and provide full-time employment for majority. Many were favourably disposed to contribution of non-farm enterprises to their households’ livelihood. Majority indicated that non-farm enterprises contributed moderately to their households’ livelihood. Income from non-farm enterprises, association membership and age were significantly correlated with the contribution of non-farm enterprises to rural households’ livelihood. It was concluded that non-farm enterprises play significant roles in sustaining the livelihood of rural households in the study area
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Agrarian budget as an instrument of agrarian development policy of Serbia
Views:284Purpose of the research is to emphasize the role of agrarian budget in development of Serbian agrarian economy and to examine the problem of agricultural and rural development financingsupport.Furthermore, in this research initial reforms of economic measures have been analyzed concerning Serbian agrarian policy. The goal of this paper is to provide an insight into the role of agricultural budget in agrarian policy of Serbia.The first part of the study gives an overview of macroeconomic situation in Serbia and impact of the financial crisis on Serbia’s economy. Second part includes analysis of the topic item, i.e. agrarian budget role in Serbian agrarian sector. It includes review of relevant literature and researches already conducted on legislation and practice of Serbian agrarian policy as well as examination of statistical data regarding present agrarian budget for 2009.The research focuses at the Serbian agrarian budget for 2009 and agrarian policy of the present Serbian government administration.
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Analysis of the leisure sport activities in University of Debrecen
75-80Views:310The sports program of the professional higher education focusing on the leisure sports opportunities. New needs, change in taste and new leisure habits of the young generation should be taken into account to design the University’s leisure sports program. In my study I was dealing with a questionnaire survey investigating the attitude of the students of the University of Debrecen to leisure sports, and the students’ opinions about their own physical status. Data collection was completed on a paper based questionnaire, 42 closed-type questions were included and a total of 213 students completed it. In conclusion I found that the students are satisfied with their physical states although not many of them do sport on a regular basis. I revealed the primary excuses for neglecting sports: lack of time, laziness and timetable discrepancies. These findings make it imperative that by avoiding the existing discrepancies the students be provided the widest range of time in their time tables available for physical activities.
JEL code: Z20
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Assessing the financial viability of the floricultural industry in Ghana
119-126Views:409This study determines the financial viability of the floricultural industry in Ghana using both discounting and non-discounting investment appraisal methods. The feasibility analysis suggests that large-scale floricultural firms are more profitable particularly with the production of cut flowers. However, investors with limited capital can venture into small-scale production specifically cut flowers. The conclusion is that the floriculture industry is financially viable therefore investors are encouraged to expend their resources in the industry. We recommend that the government and stakeholders need to create institutional support to enable the already established firms to further develop and attract new investors in the sector.
JEL. Code: Q13
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Carbon dioxide emission trends and environmental problems in Central Europe
Views:507In this research, the effect of CO2 emission was measured in two different land-use types (Crop and Grassland) in Central European and V4 countries. The primary aim of this study is to identify the significant output of CO2 emissions from cropland and grassland. Secondary data collected from FAO (Food and Agriculture Organization of the United Nations) between 2010 and 2017. Mann-Whitney U test and odds ratio used to study the differences between the two country groups, and Principal Component Analysis was applied to create a performance map regarding the emission. A General Additive Panel model has analyzed the influence of area sizes and the regional differences on emissions. Results showed that the effect of grassland size is the primary factor in CO2 emission. A significant difference can only be found between CEU and V4 countries regarding grassland size effect on CO2 emission under grassland, which was rather small in the case of the V4 group but explained a larger part of the variance the of CEU countries. The odds of having higher CO2 from cropland to grassland was 2.43 times in the case of V4 compared to CEU countries.
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Analysis of Vision and Mission Statements Characteristics and their Association with Organizational Performance: A Guide to Writing Effective Vision and Mission Statements
87-95Views:6522This paper empirically examines vision and mission statements of Fortune 500 firms for the purpose of identifying and examining specific characteristics and associating these attributes with organizational performance. Additionally, this paper provides a theoretical foundation for the inclusion of various characteristics of vision and mission documents, and thus provides guidance for organizations to develop and revise these important strategic planning documents.
JEL CODE: M21, O21
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Total Quality Management in the food industry – Current situation and potential in Germany
83-87Views:671The requirements in terms of information availability, risk precaution and control in the food industry continue to increase. In this context the interest of companies in the Total Quality Management (TQM) approach is also increasing. This development attracts notice to Business Excellence and connected systems. Similarly, various quality management tools and techniques are available. In this regard a research project analyzed to what extent the companies in the food industry apply different activities of the TQM scheme. The research calculates the importance that the companies attach to different requirements of TQM and how they implement them. Additionally, statistical analysis provides evidence that there is a positive correlation between the implementation of the activities of TQM and the medium- to longterm success of a company. In this article the methodology and major findings of this research project are presented.
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Responsible behaviour or business? Social responsibility (CSR) in sport management
83-90Views:768CSR has become increasingly important in today’s business world and managers must consider not only the economic results of their decisions but also the legal, ethical, moral, and social impact and repercussions of each of their decisions. Some multinational companies’ CSR activities even clearly represent applicability of CSR in sport management. The aim of this study was to do a critical comparative analysis, present the changes, alterations in the traditional company philosophy, objectsystem; then to define the concept of CSR, its importance in sport, finally to analyze some of the top 20 World Food & Beverage Companies’ (Coca-Cola, Danone, Nestle) CSR activities in sport management. Similarly to the whole economics – beside traditional theoretical tendencies, parallel to them and not developing them – a new kind of company theory concerning the long-term balance problems of the natural environment and society is being formed. Although the notion of corporate social responsibility (CSR) is prominent in some of the current discussions and investigations about the role of business in society, the concept – integrate social and environmental aspects in their business activity – is not new. According to the websites and sustainability reports of the international parent companies and domestic subsidiaries, we can say, that the companies show similarity at several points with regard to social responsibility within the field of sport management. However we must emphasize that we can find in the domestic practice fewer examples. In this case probably the media plays important role, which prefer the news of scandals such as CSR-related initiatives. In the public the companies’ CSR activities are even less known. Finally we can establish, that about the sport sponsorship the parent companies we have more information, their reports and websites are more transparency. In contracts, in the case of subsidiaries we can meet deficiencies.
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Economical aspects of thermal and medical tourism
77-84Views:410Thermal and medical tourism in Hungary are characterised by a continuous development. The management, efficiency, operational effectiveness and offer of enterprises in the field of tourism influence the competitiveness of Hungary’s tourism. In the present day economic life the thorough analysis of the enterprises’ economy is indispensable. The result of the analytical methods applied by the report provide information for different stakeholders (owners, transporters, customers, employees, habilitators). The aim is to have data which inform us about the functioning, financial situation and profitability of the economic entities parallel with the factors and conditions determining these elements. In our paper we present the financial situation of the Demjén Thermal Spa Ltd., being one of the newest thermal spas of Hungary.
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Perspectives for development social entrepreneurship in republic of Moldova
21-29Views:378Social entrepreneurship, as a field for research and scientific disputes between scholars and practitioners, it still remains a novel investigation area, as far as new opportunities, challenges, business approaches and concepts appear into the modern world and competitive market. This paper puts emphasis on social framework behind the development of social businesses in Moldova. Moreover, it presents the grass-root state of readiness of existing small and medium – sized enterprises from Moldova to undertake the leap towards the new kind of economy and different organizational approaches. The paper provides a content analysis of specific literature on social entrepreneurship, with particular emphasis on general perception of the small holders and small and medium – sized enterprises on social business. A total number of 593 small and medium – sized enterprises and individuals participated to organized interviews. The survey results show that 66% of the respondents are not acknowledged with social entrepreneurship concept and functionality. From those (34%) who are informed about the topic, most of them are actual young entrepreneurs. Additionally, young entrepreneurs, respondents, wouldn’t reinvest their profit for social mission (73%). Unlike young entrepreneurs, individuals would reinvest their profit in social missions, in case they have a business. These findings suggest that, in the society there is a lack of general understanding on social entrepreneurship. The author also found out that, the general perception regarding social problems is mostly assigned to public authorities instead of enterprises. Moreover, the research results show that the absence of a clear mechanism which would raise public awareness regarding social problems and social capital, affects the active implication of community stakeholders into the societal problems.
JEL code: M140
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DIVESTITURE POST MERGERS AND ACQUISITIONS IN INDIA – REASONS AND MODEL TO PREDICT
Views:261Divestitures post-acquisition are a common occurrence yet the jury is still out on whether they represent correction of prior mistakes or are a restructuring tool to improve performance in the hands of managers evaluating overall portfolio of assets. We take a sample of 1,344 deals buy Indian public listed buyers from 2000 to 2020 of which 13% were followed by a divestiture to create models to predict if an acquisition is likely to be followed by a divestiture or not using logistic regression and discriminant analysis. Our model is more than 75% accurate in its prediction even when tested on unselected data (new data for the model). We find support for portfolio theory and reject the correction of prior mistakes theory to explain post-acquisition divestitures. We support the theory that financial constraints leads to post acquisition divestiture. We also support the theory on indigestion that post acquisition divestitures are due to cookie-jar problem where buyers are finding it difficult to integrate. Increased volatility and poor mean stock price returns both contribute to conditions leading to such divestitures. The model constructed is useful for shareholders and other stakeholders to predict whether a divestiture will follow an acquisition or not. Managers can also use the model to predict eventual outcome of their acquisition decisions.
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Factors affecting acceptance of smart retail solutions in Hungary: an empirical study using UTAUT2 model
Views:620In today's digitalisation process, retail is also undergoing a transformation, with the emergence of new smart solutions. Integrating intelligent solutions into a business model means new strategic challenges for retailing companies. The aim of the research is to examine the factors influencing the behavioural intention and use behaviour of smart retail solutions (SRS). The proposed model was based on the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). Data was collected by conducting a questionnaire of 302 Hungarian respondents. Confirmatory factor analysis (CFA) and partial least squares (PLS-SEM) estimation were implemented. The results showed that behavioural intention is significantly and positively influenced by effort expectancy and it is significantly and negatively influenced by facilitating conditions. Most of the respondents are not yet regular users of SRS, and the market penetration of front-end intelligent solutions in retail is considered as rather low.
JEL code: M10, M31, O14
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Evaluation of crop and irrigation water requirements for some selected crops in Apulia region -Southern Italy
39-50Views:735Nowadays, nearly 90% of global water consumption is caused by irrigation activities, and more than 40% of the crops are produced under irrigated conditions. This study is an endeavour to estimate the irrigation water requirement (IWR) and crop water requirement (CWR) for some selected crops (Pepper, Eggplant, Potato, Soybean, Maize, Wheat Melon, Lettuce, Sunflower, Broadbean, Citrus, Cherry, Olive tree, Sugarbeet, Artichoke, Wine Grapes, Carrot...etc.) in Sothern Italy. The selected districts (Sant’ Arcangelo) have been taken as a case study area. Demanded meteorologically (rainfall, temperature, humidity, wind speed, sunshine hours) and crop data (crop coefficient and crop calendar) have been collected for 30 years period from 1981 to 2011. FAO CROPWATv8.0 software has been applied for requisite calculation of CWR and IWR along with the developing of cropping patterns. The FAO Penman-Monteith equation is used for estimating the reference evapotranspiration (ET0) by using meteorological data in the framework of CROPWAT model as it regarded as a good evaluator for a wide variety of climatic conditions. The analysis indicates that FAO Penman-Monteith suits very well for the study area and can be successfully used for the estimation of reference evapotranspiration. The important results in this study indicate that the IWR is very low from November to April (wintertime) due to higher rainfall intensity in these months and from month May to October a considerable amount of water is required for irrigation.
JEL Classification: Q25, Q24,Q10
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The economic aspects of innovation in sheep breeding
97-104Views:291During my investigations, I highlighted three innovations, all of which serve the production of a final product, sheep kefir. This product contains a unique added value and involves several innovational opportunities. I examined the complex economic analysis of the innovations and technological elements investigated with respect to revenues from the sale of sheep milk, sheep cheese (kashkaval) and sheep kefir. The kashkaval-type sheep cheese does not contain sufficient added value to cover the costs of innovational investments. Investigating the innovational activity for developing sheep kefir and for its market introduction, its cash flow balance becomes positive already in the second year after realization, and is able to generate significant profit.
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Low-carbon innovation policy with the use of biorenewables in the transport sector until 2030
45-52Views:375The topic of the present study deals with the changes and future trends of the European Union’s climate policy. In addition, it studies the manner in which Hungary’s transport sector contributes to the success of the above. The general opinion of Hungarian climate policy is that the country has no need of any substantial climate policy measures, since it will be able to reach its emission reduction targets anyway. This is mostly true, because the basis year for the long term goals is around the middle/end of the 1980’s, when Hungary’s pollution indices were entirely different than today due to former large-scale industrial production. With the termination of these inefficient energy systems, Hungary has basically been “performing well” since the change in political system without taking any specific steps in the interest of doing so. The analysis of the commitments for the 2020-2030 climate policy planning period, which defined emissions commitments compared to 2005 GHG emissions levels, has also garnered similar political reactions in recent years. Thus, it is not the issue of decreasing GHG emissions but the degree to which possible emissions can be increased stemming from the conditions and characteristics of economic growth that is important from the aspect of economic policy. In 2005, the Hungarian transport sector’s emissions amounted to 11 million tons, which is equal to 1.2% of total EU emissions, meaning it does not significantly influence total transport emissions. However, the stakes are still high for developing a low GHG emission transport system, since that will decide whether Hungary can avoid those negative development tendencies that have plagued the majority of Western European transport systems. Can Budapest avoid the scourge of perpetual smog and traffic jams? Can it avert the immeasurable accumulation of externalities on the capital city’s public bypass roads caused by having road transport conduct goods shipping?
JEL classification: Q58
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The analysis of agro-economic effects of household food wastage through the example of bread
9-18Views:432In our busy world, where numerous people starve and where the resources are restricted, it is a key issue to pay particular attention to the topic of prevention and decrease of food loss as well as food wastage.Wastage of food produced and delivered to the end user (customer) is an issue arising globally and nationally as well, which results in efficiency loss at economic level in any case. While the FAO study mentions food waste of the order of 1.3 billion tonnes on a world scale, then the annual quantity of food waste in Hungary is estimated at about 1.8 million tonnes, which contains the waste of every member of the chain from production to consumption. On the basis of the data published by the Hungarian Food Bank (2015), the amount of food waste caused by the population is 400 000 tonnes. In compliance with our objectives, inputs – expressed by non-financial and financial indicators – emerge during production are assigned to the quantity of wasted food. Applying the aforementioned method we would like to make customers realize how many resources (land, water, artificial fertilizer, pesticide, seed and gasoil) are utilized needlessly in food verticum by the end products – at present by different breads they throw out. As our calculations prove by 10% waste of breads the utilization of 5 300 hectares of wheat land and 660 hectares of rye land can be considered unnecessary. By 10% waste of breads the financial value of the utilized resources is altogether 3.25 million EUR. Out of this the financial value of utilized artificial fertilizer is 1.10 million EUR (34%), of utilized pesticide is 1.15 million EUR (35%), of utilized gasoil is 0.70 million EUR (22%) and of utilized seed is 0.30 million EUR (9%). Among different breads, white bread is purchased in the greatest volume by the Hungarian households, from which 121 900 tonnes are bought annually on an average. This quantity is equal to almost the 40% of the annual bread sell. If 10% of purchased white bread is thrown out, it results in useless utilization of 2 676 hectares of wheat land in food verticum. The quantity of utilized water arising form wastage is 15.8 million m3. Further losses emerge as regards material inputs: artificial fertilizer- to the value of 0.50 million EUR, pesticide- to the value of 0.58 million EUR, seed to the value of 0.15 million EUR and gasoil-loss to the value of circa 0.35 million EUR. Totally, material input to the value of 1.58 million EUR is owing to the Hungarian households in case of 10% white bread wastage.
JEL code: Q53
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Market power analysis in Mongolian wheat industry
71-76Views:390Mongolia has been in transition from a planned economy to a market economy for more than 20 years. In many sectors of the economy, it is necessary to define which market mechanisms exist. Grain occupies important economic sector in Mongolian economy. The current state of the wheat market has been studied based on NEIO research methods. In this study, the data for years from 2000 to 2017 and from 2007 to 2017 about wheat and wheat seed sector were taken through 6 indicators. We estimated the supply and demand functions for wheat and wheat seed. Using these functions, we defined market behavior, cost function, price elasticities, and market equilibrium. The capacity setting for product prices of wheat producers is weak, and this market is likely free-style competition.
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Competitiveness of Polish regional Agro-clusters
35-40Views:397The present paper concerns the analysis and evaluation of the performance of regional agro-clusters in Poland and also the examination of the significant basic factors which have influence on it. The objective of the paper is both to rank the 16 Polish regions according to their competitive position in the agrocomplex and to present their economic and social position, show differences and regional contrasts. Also, we compare the outcomes with the overall Polish regional competitive index, which was created in accordance with the Huggins Institute approach.
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Comparative analysis of menus in the Northern and Southern Great Plain touristic regions
71-75Views:284The background of the study is based on previous studies dealing with the areas of Transdanubia and Central Hungary. Those works have proved the hypothesis of author that local ingredients and dishes represent minimum role on menus. The question is how similar or different the choice of menus of Northern and Southern Great Plain is from the previously examined areas of Hungary.Additional questions may also arise in terms of the usage of local ingredients available near catering units. This piece of work has studied several menus of Northern and Southern Great Plain, Hungary.The material was collected from different types of restaurants, ‘csárda’-s and inns. The methodology was two-tier: data collecting on the one hand, and the detailed examination of differences between the catering units on the other hand: the number of dishes, the right order of dishes, the appearance of local ingredients and dishes, the consideration of seasonality, the usage of different cooking methods and group of dishes. The study reflects the main problems of countryside restaurants in Hungary. Only a minimum number of dishes could be connected to local dishes out of more thousands.All in all, dishes are not as precise and perfect as the ‘old ones’used to be; that is why it is important for every expert to keep traditions alive in daily routines and by way of strategic means too.
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Subsidies are Potential Sources of Profitable Management – Their Payment Between 2010 and 2016
97-120Views:486Based on the allocations and distributions of subsidies in the sheep sector in the previous years (2004-2009), the authors examined the sum of aids claimed and paid from 2010 to 2016 and their farm-size related changes. The following data were collected from the Agricultural and Rural Development Institute on payments under specific subsidy titles, classified by sheep and goat farm sizes: 0-50; 51-100, 101-200, 201-300 and also 0-100, 101-300, 301-500, 501-1000, 1001-5000 and above 5000. Data procession was carried out by the SPSS for Windows 22 program. The size and population of the examined sheep sector underwent visible changes during the studied years leading to a reduction rather than growth. Their analysis highlights that size distribution of sheep farms has changed significantly in recent years, combined with simultaneous modifications of their sheep stock sizes in production. Their conclusions suggest that effects of years and farm sizes in the sheep and goat sector have considerably modified the aid sums paid under different titles.
JEL Classification: H5, Q14
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THE INFLUENCE OF COVERAGE ATTRIBUTES ON COMMUNAL FARMERS' WILLINGNESS TO ADOPT CATTLE INSURANCE IN LUPANE DISTRICT, ZIMBABWE
Views:119This study examines the role of coverage attributes specifically, their scope, clarity, and relevance in influencing the willingness of communal farmers to adopt cattle insurance. The research was guided by the Stakeholder Networking Theory. Employing a mixed-methods approach in Lupane District, Zimbabwe, the research utilized a sample of 219 communal farmers, selected via multistage sampling for quantitative data, and 25 key informants, selected using purposive sampling for qualitative data. The Probit regression analysis revealed a statistically significant positive coefficient of 0.242 (p<0.001) for the relationship between Coverage Attributes and Willingness to Adopt. This indicates that farmers' decisions are significantly driven by the comprehensiveness of covered risks and the simplicity of the policy's terms. The findings highlight that existing products fail to meet farmer expectations regarding risk coverage and ease of understanding. This study concludes that insurance schemes must be designed to be both comprehensive and user-friendly, providing practical insights for creating policies that are genuinely attractive and relevant to the specific needs of this vulnerable demographic.
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