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Potential for Hungarian Grasslands in integrated rural development
37-39Views:291Sustainability and multifunctionality, two key principles, which will determine future development in any activities. On the bases of these principles, society as a whole has already outlined future expectations towards rural areas. Rural functions (economic, ecological and socio-cultural ones) have been declared in European Charter for RuralAreas. To what extend can different rural development initiatives meet these functions? The question may be answered by using the method of multifunctional rural resource analysis (NAGY, 2007). The paper is investigating the potential for Hungarian grasslands by using this methodology. It is concluded that our grasslands, as land use systems in their present conditions can participate in integrated rural development in the most balanced way compared to other land use systems in the county. Economically their potential is good. Ecologically their potential is outstanding. The socio-cultural potential of grassland use in Hungary is also outstanding due to the historical roots.As a future prediction the relative importance of the three grassland functions has been outlined in integrated agriculture and rural development.
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Education for rural development and agribusiness in post-socialist Slovakia
133-137Views:294Agricultural education and training in the former Czechoslovakia has traditionally focused on fostering the position of cooperatives and state farms. The destruction of socialist agriculture and the reduction of commuting opportunities in the urban space during the transition have resulted in the handicapped socio-economic position of the Slovak countryside and its population. The role of education and training in fostering agribusiness growth and rural development could therefore become a crucial strategy. The aim of this article is to analyse the current state of education and training for agribusiness and for rural development in Slovakia using the methods of literature research and document analysis. The article interprets general trends in the development of adult education in Slovakia during the transition period. The main priorities and perspectives formulated in the national strategy for education in agriculture (for the period 2007-2013) are discussed in the mentioned context. With a focus on the leading role of the Slovak University of Agriculture in Nitra, the paper assesses the current status of formal and further agricultural education and training offered in academic and other educational institutions. The paper concludes by discussing implications, recommendations and challenges for developing education and training initiatives for agribusiness and rural development.
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Analyse the financing structure of agricultural enterprises in 2002–2006
91-94Views:333The capital structure of agricultural enterprises notable modified since the change in Hungary’s economic system. The study discusses the capital structure of agricultural enterprises in Hungary and analyses the most significant indicators, that we can use to describe the financing situation of the firms. My empirical analysis is based on data containing 192 agricultural enterprises between 2002 and 2006. I try to assess the reasons of the changes in the structure of resources of enterprises in order to find the determinants effecting the capital structure. Furthermore, I assess the index numbers illustrating the management of the enterprises.
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MONTE CARLO SIMULATION FOR STRESS TESTING ENDOGENOUS PROFITABILITY FACTORS DURING POLYCRISIS: A CASE STUDY FROM THE POULTRY SUBSECTOR
Views:138Can historical company data help estimate future performance during economic uncertainty? This study investigates whether past business cycles can be used to estimate profitability in the context of a polycrisis – a period marked by overlapping disruptions such as avian influenza, COVID-19 trade restrictions, extreme weather events, and rising feed and energy prices. These shocks have severely impacted agro-related industries, such as poultry processing. Focusing on three Central European poultry processing companies, we use Monte Carlo simulations for stress testing their profitability for the 2023 period, aiming to support financial planning by analysing firm-specific, endogenous, management-controllable factors. Return on Sales (ROS) and Return on Equity (ROE) are used to evaluate profitability, incorporating variables such as euro exchange rates in the case of export-driven firms. Our results indicate that Company “A,” characterized by stable operations, had the lowest probability of negative ROE, while Companies “B” and “C” demonstrated greater volatility. We found that the model provides a good estimate of the factors affecting the companies’ profitability that are directly or indirectly reflected in their accounting data. Indicating that the test could be a valuable tool for supporting managerial decision-making in financial planning, though further refinements are needed to enhance accuracy.
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Analysis of the objective indicators of quality of life in Hajdú-Bihar County
83-89Views:274The rate of unemployment in Hajdú-Bihar County is several percent higher than the national average and the actual number of unemployed people is the highest, resulting in considerable social problems. The majority of families living under the minimum subsistence level cannot cover their housing maintenance costs. These costs include the rents of tenement flats, public charges, water, electricity, gas and district heating charges. Cutting the number of unemployed people and stimulating economic activity is a high priority. Important tools towards achieving these goals include the promotion of non-agricultural activities by households engaged in agriculture, incentives for rural micro-enterprises, the development of rural and agro-tourism and support for traditional arts and crafts. As for general subjective well-being, although its average value is positive, merely 50% of the population is contented. Naturally it does not mean that we are unhappy. 4 respondents out of 5 claim that they are rather happy.This may suggest that the picture is not so pessimistic as it is revealed by questions about living conditions.
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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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Risks and competitiveness in agriculture with emphasis on wine sector in Croatia
11-17Views:282International competitiveness, being a key objective of each economic entity, is at the same time significantly determined by the level of risk the entity is coping. Based on the assumption that risk management is directly linked to competitiveness in agribusiness, the scope of this paper is predominantly focused on the wine agribusiness in Croatia. The aim of this paper is to encompass available literature and transfer findings to interested parties, about risks and competitiveness in agriculture, with particular reference to the wine sector. Qualitative analysis of secondary data, descriptive i.e. monographic method, deductive method and comparison of available papers from the world and Croatia were applied in the paper. There are very few companies in general, however, that tend to use their abilities to manage risks as a source of competitive advantage. These companies go beyond compliance or cost-controlling defensive approaches and take a more aggressive stance toward risk. They have realized that their risk management capabilities can be leveraged as a source of competitive advantage (Elahi, 2013). Current literature showed that such companies indirectly exist within global agribusiness. Examples of such companies in the wine sector could be found in Old World and New World wine countries. In regards with the mentioned, further research in the wine sector that would more directly link competitiveness and risk management and benefits that could be drawn from such “linkage” is needed.
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Competitiveness of Polish regional Agro-clusters
35-40Views:399The 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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Integration at the workplace studies within multinational pharmaceutical factories in Hungary
69-71Views:269The primary objective of this essay is to assign a gap in Human Recourse Management literature. Many studies and resources are known about hiring and maintaining people and their loyalty to organizations. Work socialization is the first step to keeping people; however, most of the literature on integration at the workplace focuses primarily on organizational commitment and not on the individuals. Various perspectives of work socialization have been discussed including socialization stages, guidance and carrier development. This essay focuses on the approach of Human Resource Management, but the scope is expanded to the individual as well. In this paper, the reasoning, the methods and the questions of my future doctoral research on integration at the workplace are analysed. First, the issue is discussed from the perspective of social changes in Hungary. The next part of this essay illustrates varying definitions from the literature, providing then my own view of how to explain the integration process in the workplace and through which what I would like to focus my research. This article also aims to show possible methods (in-depth interviews with Human Resource Managers and document analysis) for examining the topic at multinational pharmaceutical factories in Hungary, while highlighting the most important questions for which my research aims to find answers.
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Importance of the generic segment of thye plant protection products – the case of the Polish market
25-33Views:330Authors present results of the analysis of developments in the plant protection products industry, with a focus on its generic part. Authors concentrate on long-term changes of prices, volumes and values of generic pesticides launched into the market. There were two strategic groups of producers identified: research and development (R&D) and generic. The analyses conducted prove that there is a relationship between the amount of generic products on the market and their prices. It is also clear that the number of competitors significantly influences the speed and range of price erosion. Used as examples generic plant protection products were placed on the market with an average price 15% lower comparing to branded pesticides.
JEL code: M31
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Plant production for biomass into energy: economics and energy efficiency view
65-71Views:347The aim of the paper was to determine the influence of the fertilization level on the energy and economics efficiency of the production technologies of selected crops processed into bioethanol or biogas. There were investigated the following crops: rye, triticale, wheat, sugar beets, maize, sorghum, reed canarygrass and Virginia fanpetals. In the energetic efficiency the Energy Return on Energy Investment index (EroEI) was used. Apart from the ERoEI ratio, the Net Energy Value (NEV) ratio was also used. In the economics efficiency attitude, the Gross Margin (GM) was determined.The investigations proved that in general, the production technologies of crops where the lowest levels of nitrogen fertilization were applied proved to have the highest energetic efficiency. The highest economic efficiency was characterized by the production of corn for biogas. In the case of the production of bioethanol (all plants), ratios were on the verge of profitability or the lack of it showed.The analysis proved that the efficiency of the technologies of production of the crops to be processed into biogas is several times higher than the energetic efficiency of the technologies of production of the crops to be processed into bioethanol.
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Analyzing the organizational questions of the elite youth academies by the case study of football academy of Debrecen
79-85Views:620Thanks to the effect of the resources flown in to the youth football, the previous, and more simpler structural scheme of the clubs went under a transformation. I will analyse the operation of the youth sport enterprises as economic companies, and the organizational scheme with the most important managerial questions faced in the firm. This will be based on the case study of the Football Academy of Debrecen. In the first part of my publication, I will investigate the evolution and the importance of the sport enterprises, with the relevant scientific literature. In the second part I will discuss the structural scheme of the Football Academy of Debrecen with the analysis of the separate departments. I will search for the differences between the youth sport enterprises and the organisations who are operating as a professional football club.
JEL code: Z2
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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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Synthetic biology applied in the agrifood sector: Societal priorities and pitfalls
89-95Views:576Synthetic biology offers potential for innovation in the agrifood sector, although concerns have been raised consumer rejection of applications will occur similar to that associated with the introduction of genetically modified foods. Risk-benefit assessment should address socio-economic, as well as health and environmental impacts. Ethical issues may be of particular relevance to the application synthetic biology, and may also resonate with societal concerns. A case-by-case analysis of relevant issues may be needed, and innovation must be driven by societal and consumer preferences as well as technological possibilities. Research into consumer and societal priorities is required early in the innovation trajectory.
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Agribusiness higher education development – training needs analysis
107-120Views:377With the tremendous changes in political and economic systems of the Republic of Croatia after independence, new challenges have been put to the higher education system as well. The system used to be structured to serve a centrally planed economy with predominantly state ownership. Universities were producing graduates to be employed on statefarms,inagri-foodsystems(socalled„kombinats“),the state owned processing industry or cooperatives. The graduates were specialised in particular branches, such as crop production, vegetable production or livestock husbandry. Therefore, they were not educated to understand the whole system of a company or the agri-food system. In one word, they were not prepared to run firms as managers, although they were highly educated. Small and medium size entrepreneurs in agri-food business have been rather an exception than a rule, and prior to the transition there was not to much experience in managing, financing or marketing for such a firms.
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The effects of climate change on cereals yield of production and food security in Gambia
83-92Views:1363Increasingly, empirical evidences are substantiating the effects of climate change on agricultural production is a reality. In the early part of the 20th century many were skeptical about the so-called climate change that is due to global warming. The Intergovernmental Panel on Climate Change (IPCC, 2007) defines climate change as follows: “climate change refers to a change in the state of the climate that can be identified by changes in the mean or variability of its properties and that persists for extended periods, typically decades or longer” This study analyses the impact of climate change on cereals production (millet and maize) in the Gambia using a time series data for a period of 46 years (1960 – 2013) at an aggregate level to assess the relationship between climate (temperatures and rainfall,) and non-climate variables fertilizer, area planted respectively and yield. The specific objectives of the research are: (1) How climate change affects the expected cereals (Millet and Maize) output or yield in the Gambia. (2) How the level of output risk within cereals (Millet and Maize) farming is affected? In order to achieve these set objectives, the paper will adopt Just and Pope modified Ricardian production functions for climate change impact assessments (e.g., Chen et al. 2004), the paper will also control for the impacts of regular input factors in the production process. The study used a data set for the Gambia comprising variables relevant for cereals production and climate information from 1960 through 2013. There is strong evidence that climate will affects Maize and Millet; according to the analysis 77% and 44% of the variability in the yield of Maize and Millet respectively is explained by the climate and non-climate variables included in the model. Given the effects of climate variables on cereals production, and increasing climate change vulnerabilities on other food production section, the result of this paper will add voice to the growing call for policy makers to step up funding in research and development in climate change adaptation and mitigation.
JEL classification: Q54
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Responsible behaviour or business? Social responsibility (CSR) in sport management
83-90Views:769CSR 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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ARTIFICIAL INTELLIGENCE IN THE CORPORATE SECTOR
Views:386Humanity has made huge progress over the past millennia. We are working with technologies, robots that not only help us to work accurately, efficiently and quickly, but they work in a similar way to the human brain: they perceive, think, learn and solve problems.
In my research, I will focus on artificial intelligence, which is becoming more and more popular nowadays, looking at its past, present and future, its main trends in the corporate sector, and how it threatens people's job opportunities.
At the same time, one of my research objectives is to investigate how much the development of a country is related to the uptake of AI in the European Union, which I will test with correlation analysis, taking into account indicators of artificial intelligence penetration in the corporate sector from one side and the various AI indicators such as digital penetration, internet usage, computer culture, and economic indicators as GDP per capita from the other side.
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The status of agricultural financing by commercial banks in Zimbabwe
45-56Views:608Agricultural finance is indispensable for enhancing productive capacity in both small-scale and commercial farming. This study sought to establish the current status of agricultural financing by 12 registered and operational commercial banks in Zimbabwe in the year 2019. Questionnaires and interview guides were used to collect data. SPSS and NVivo were used for data analysis. All the commercial banks participated in agricultural financing with an average agricultural loan portfolio of 30%. However, their participation in agricultural lending is yet to reach the pre-land reform maximum of 91.3% attained in 1999. Land tenure and weather risks, as well as lack of collateral among farmers reduced the banks’ appetite for lending to the agricultural sector. The majority of the commercial banks offered value chain finance, invoice finance, overdraft facilities, and term loans to agricultural sector clients that mainly included; suppliers, medium-scale, and large-scale commercial farmers. The study established a mismatch in the demand and supply of loans in the medium to long term tenure range of 1 to more than 3 years. There was low demand for 1-3-year tenure loans according to the commercial banks, and a corresponding deficit in the supply of highly demanded longer-term loans of more than 3 years for capital expenditure (CAPEX). Therefore, government should aim to; stabilize currency; arrest hyperinflation; restore economic stability; address land tenure to ensure the bankability of the 99-year Lease; and create an environment that is conducive for investment in climate and weather resilience infrastructure. Local farmers should also invest in human and physical capital to improve their access to bank credit.
JEL Code: Q14
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The most relevant factors and trends in energy cooperation between Kazakhstan and China, focused on renewable energy sources (RES)
Views:842This paper analyses the good political and legal environments, mutually beneficial strategic policy, along with level of economic development and growth, superior geographical conditions and cultural integration degree of the important effecting factors of the energy cooperation between Kazakhstan and China. By using the main points listed above this article refers to related trade and investment theories, and it’s divided into two aspects: Kazakhstan's export of Chinese energy products with time series data 1998-2014 and China's investment in Kazakhstan's energy sector with time series data 1998-2016 to construct the vector autoregressive model (VAR).We selected relevant variables and data to construct an econometric model from the perspectives of trade and investment to make an empirical analysis on the influencing factors of energy cooperation between Kazakhstan and China. Our results show that China's demand for large-scale market and for opening to the outside world as well as Kazakhstan’s great energy potential are the most important factors their cooperation. It can be stated that in our days Kazakh legislation is suitable for promoting the Chinese energy investments, but in the long run it would be beneficial to mobilize national capital especially in RES investments and research. In the end, we found the most important reserves in competitiveness of electricity and heat (both from fossil and renewable energy sources) are power grid consolidation and waste heat utilization in the short run.
JEL CODE: F14; Q43
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Problems with the application of conventional financial ratios in corporate risk measurement
5-12Views:464One of the enterprises’ biggest fears is a potential bankruptcy situation. This is the reason there are a lot of people who try to anticipate it. To be aware of the actual and expected future situation of a company is in the interest of all those who are related. This topic has come to the fore after the economic and financial crisis of 2008. Companies, their creditors and internal stakeholders should be aware of the liquidity and solvency situation of a given company, because its deterioration can cause serious problems for all of them. During the financial analysis of companies, the problem of liquidity indicators showing bad signals can often be experienced, although there is no visible sign of difficulty in their operation. In other cases, the situation is just the opposite, i.e. liquidity ratios are adequate, but still, the business faces payment issues. How could it happen? The purpose of this study is to present indicators which can measure more accurately and reliably the actual liquidity position of a company.
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The role of social media in gastronomy industry
95-103Views:2054Considering the rapidly changing business environment, staying competitive is a key issue and challenge for companies in the 21st century. The criteria of a company’s success and competitiveness is the changing behavior of the different economic actors and its influence. Through the information society came to the fore, the use of diverse information technology tools and methods has become a significant influence factor in terms of the entrepreneurs or company management and also the customers or other partners. Due to the rapid expansion of new technology developments, the role and importance of social media is continuously increasing. Also statistics show that one of the most regularly used IT tool is the social media and the different web 2.0 applications. The current study is intended to provide a better understanding how social media can emphasize the competitiveness of companies and format the consumer behavior in a special sector – the rapidly developing gastronomy industry. This paper presents an empirical research about the role of social media in the above mentioned industry based on the primary data which are gathered through a survey performed in Hungary. Beyond the empirical results presented, the paper also aims to provide some recommendations for research methodology – based on the international literature review and the Authors’ own experiences – both in gastronomy industry’s and customers’ point of view. Through the analysis the research hypotheses were examined and the most important correlations were identified between the survey results and the Authors’ initial supposition.
JEL Code: D83, L83, M31, Z33
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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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The competitiveness of rural areas in the Republic of Tatarstan
89-96Views:303This paper analyses the main factors influencing the regional competitiveness of rural areas in the Tatarstan Republic. Firstly, 19 variables related to the socio-economic situation in the Tatarstan Republic were analysed, these having been taken from the Statistics Committee of the Tatarstan Republic. Principal component analysis (PCA) was then used to determine the weights of 10 indicators that have an effect on the level of regional competitiveness. Factor weights are used as weights in the summation of the standardised scores of variables that have an impact on competitiveness. The major factors influencing the level of regional competitiveness are the level of economically active population, investment in housing and the level of education. The following results were obtained: one of the 44 regions is very highly competitive and two are highly competitive; two of 44 regions have a medium level of competitiveness and 39 regions have a low level of competitiveness.
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The use of models in optimizing the field crop production in agricultural enterprise
105-108Views:284The full use of resource capacities of agricultural enterprises favorably affects the general increase in economic efficiency and rational production making them more competitive in the market. This creates the need for constant improvement of business strategies that uses all available resources to create the most profitable production. The main objective of this study was to find the ideal structure of production in agricultural enterprise and to enable the realization of maximum profit using the available production resources (land, mechanization, labor forces). As the basic method of planning, this study used the simplex method of linear programming which gives the most profitable sowing structure after detailed analysis of resources and achieved results, based on the limitations and gross margin. This work showed that the use of modern methods in production planning is one of the cheapest and safest methods for development of agricultural enterprises.
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