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Cross border co-operation in rural areas giving the example of Bihar region
39-45Views:314After the political changes in 1990-ies in Hungary and in East-Central Europe the process of forming cross-border regional cooperations reached a new period. The border regions of the different national states join to encourage co-operation. The most remarkably connected system in our region is the Carpathian Euroregion. This paper deals with one of the most successful initiatives started between Hungary and Romania. The most outstanding co-operation of the past few years exists between the settlements of the former Bihar County which territory today belongs to two countries. The aims of the paper are to research the development of the border region; to reveal the factors of the cooperation and to observe the possibilities for the development. To obtain the goals desktop research, cluster analysis and data analysis were used, as statistic methods. The results emphasize that the development and renewal of the cross-border co-operations were supported by historical factors and good practices adapted from Western Europe. Although economic backwardness or the administrative problems are against the cooperation, historical economic connections facilitate the common work in the Hungarian-Romanian border region.
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Relationships between competitiveness in the Northern Great Plain and the organisational culture of local authorities
13-20Views:322One of the five basic factors in the Lengyel-type pyramid model – institutions and social capital – is essential in the economic growth of the region. Economic success however, does not only depend on participants in the economy, but on social factors such as the roles played by local authorities, including their functions, operation and organisational culture, all of which are crucial factors. Based on the results obtained regarding organisational culture it can be stated that performance orientation, dominant motivation based on calculated risk, forward planning and regular feedback are expected values at local authorities in all three counties. All local authorities emphasise the importance of the need for forecasting. Respondents find it important that organisations encourage and reward individual action and contributions as expected values. The degree of human orientation expected by local authorities reflects the fact that respect for colleagues and attention to their well-being should be at the highest level. Reinforcing these organisational culture values (dimensions) is the basis for the efficient and successful operation of organisations (local authorities). The study examines the organisational culture of local authorities in the Northern Great Plain, looking for any relationships it might have with the competitiveness of the region. This study is an element of the wider research into organisational culture. We used the GLOBE (Global Leadership and Organisational Behaviour Effectiveness) survey, which had been successfully applied in the research programme In Competition with the World at the Corvinus University of Budapest. Koopman, Den Hartog, Konrad et al. (1999) examined the culture variables of 21 European countries in organisations. Based on Hungarian and international literature it can be stated that a similar survey of local authorities has not yet been conducted.
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Some thoughts on the repayment methods of Hungarian household forex loans
17-23Views:360Nowadays the volatility of exchange rates and the macroeconomic changes strongly affect the monthly instalments of the debtors. The growth of delayed forex loans - mostly denominated in Swiss Franc and Euro - can include a high risk, which as a part of a vicious circle can ruin Hungary’s economic situation and even the country’s external judgement. Steps were taken to handle the problem of the forex loans but their result is questionable. In this paper different repayment methods are compared in different economic scenarios. More precisely, the third edition of exchange-rate barrier and income based repayment are analysed in an optimistic realistic and pessimistic scenario. This article is aiming to quantify and interpret the difference between each repayment methods regarding different scenarios. Based on the results suggestions are made how to eliminate efficiently currency exposure from the continuously deteriorating portfolio.
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Responsible behaviour or business? Social responsibility (CSR) in sport management
83-90Views:851CSR 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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A study of the causes leading to the liquidation of agricultural enterprises
123-127Views:299The viability of agricultural enterprises is of paramount importance. Their liquidation has harmful effects on broad strata of society. The aim of my research is therefore to analyze the leading causes of liquidation of agricultural enterprises. The research was led on 17 agricultural enterprises. This may help in the prevention and treatment of their insolvency. The research results show that a long-term agricultural production is not sustainable with a low equity capital. For the long-term maintenance it is necessary that the investors establish the enterprise with a capital according to the type of the production.The loan can not replacethe entrepreneursown resources,it is only complementaryto it.Theownersof agriculturalbusinessesshould strive to ensurethatthe paid-up share capital is kept in the firm, because in case of payment difficulties, this can be an adequate financial provision. Companies with financial problems can avoid liquidation if the crisis is detected in time by the leaders. However, the owners must organize the management of the enterprise so that it should have the necessary technical and economic knowledge. With an appropriate management, and use of means of crisis management, the liquidation of the enterprise can be prevented.
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The most relevant factors and trends in energy cooperation between Kazakhstan and China, focused on renewable energy sources (RES)
Views:918This 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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The political economy of agri-environmental measures: An empirical assessment at the eu regional level
71-82Views:357The paper deals with the political and economic determinants of EU agri-environmental measures (AEMs) applied by 59 regional/country units, during the 2001-2004 period. Five different groups of determinants, spanning from positive and negative externalities, to political institutions, are highlighted and tested using an econometric model. Main results show that AEMs implementation is mostly affected by the strength of the farm lobby, and the demand for positive externalities. At the same time it emerges a prominent role played by political institutions. On the contrary, AEMs do not seem implemented by the willingness to address negative externalities.
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The competitiveness of rural areas in the Republic of Tatarstan
89-96Views:336This 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:313The 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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Impact of Terrorism on Agricultural Business in Borno State, Nigeria
117-124Views:507This study examines the impact of terrorism on agribusiness in Borno state. Terrorist activities in Borno state dates back to 2009 where a group of Islamic extremists popularly known as Boko Haram (meaning western education is a sin) became violent in their activities. The group operates significantly in north-eastern Nigeria where Borno state is located and since 2009. The presence of the group has led to collapse of socio-economic activities in Borno state among other states. Millions of people have been displaced fromtheir homes and forced to live in camps in neighbouring states. As a result, this study examines the impact of insurgency related activities on agribusiness in BornoState. Agricbusiness in Borno state can be measured using four different parameters, amount of area cultivated, annual crop production, rearing of livestock and fish farming. These are the major agricultural business residents of Borno state are engaged in. However due to unavailability of data, rearing of livestock and fish farming are dropped, thus focusing on area cultivated and annual crop production. As a result of these two variables, two models are developed. The first model measures the relationship between amounts of crop produced with insurgency related killings, while the second model measuresthe relationship between total areasof farmland cultivated with fatalities resulting from terrorist activity. This study employs Ordinary Least Squares methodology and finds that both relationshipsreveal negative results thus indicating statistically significant negative impact of terrorism on agribusiness in Borno State.
JEL Classification: Q10, Q18, Q12
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The role of trust in cooperation between farmers – the outcomes of a survey in Békés county
103-112Views:477Local socio-economic cooperation arrangements can contribute to the development of adequate solutions which can compensate the negative impacts of globalization. One of the specific areas is agriculture. Capital-intensive technology is the key element in the competitiveness and viability of firms. The present paper reviews the factors affecting the joint machine use arrangements of agricultural producers, with special regard to the role of trust. The questions of trust are examined in two dimensions: contractual and competence trust. On the basis of the survey carried out among farmers a positive connection was detected between the level of trust and the farmers’ activity in cooperation arrangements. Our results also pointed out that the trust needed in different areas of cooperation is very different. The experiences indicate a tendency, according to which contractual trust is more important in intensive cooperation arrangements which result in higher dependence, while competency trust is more emphasized in more extensive solutions.
JEL Code: Q13
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Factors affecting acceptance of smart retail solutions in Hungary: an empirical study using UTAUT2 model
Views:681In 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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Impacts and externalities of agricultural modernization in Brazilian states
53-61Views:411This study aimed to analyze the relationship between the levels of agricultural modernization and socioeconomic indicators of the Brazilian federation units. A multivariate approach to data analysis led to the creation of the Index of Agricultural Modernization (IAM). The Spearman correlation test was used to verify the relationship between levels of agricultural modernization and a set of economic and social indicators. As a result of the survey, we obtained the Index of Agricultural Modernization (IAM) which allowed the ranking of Brazilian states in terms of level of modernization. The correlation analysis demonstrated the existence of significant and positive correlation between the agricultural modernization and the following indicators: per capita GDP, trade balance per capita and IFDM. This means that agricultural modernization contributes to increased production, exports and the levels of socioeconomic development of the states. For the variable urbanization rate, test results showed a negative correlation with the IAM, which suggests a contribution of agricultural modernization for fixing people in the countryside. Indicators of inequality in income distribution showed no significant correlation. In conclusion, it can be inferred that the positive relationship of the IAM with indicators of production, exports and socioeconomic development shows the presence of positive externalities and impacts of the agricultural modernization process
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European traditional food producers and marketing capabilities: An application of the marketing management process
41-46Views:327The purpose of this paper is to evaluate the marketing management capabilities of SMEs producing traditional food products, in order to analyse the market orientation of SMEs in the food industry. Following the theoretical approach of Market Orientation, our analysis is based on an assessment of the marketing management process. The methodology refers to a survey developed through a questionnaire published on the web, and a sample of 371 firms based in Belgium, Italy, Spain, the Czech Republic and Hungary was used in the analysis. Cluster analysis was applied to find the different levels of market orientation of the firms. The results revealed a certain lack of appropriate skills in marketing management in the firms of the sample, confirming the evidence found in economic literature concerning SMEs. Nevertheless, cluster analysis outlined a group of firms with good marketing capabilities and market oriented, and these represent a great part of the sample (40%). With regard to the stages of the marketing management process, the most problematic are those of planning and implementation, and control and evaluation, highlighting the difficulties SMEs encounter in carrying out coordinated marketing; which appears to be generally characterised by poor organisational capacity.
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Political risk effects and entry mode strategies of multinational corporations (MNCS) in Nigeria
Views:890Research on the political risk and entry mode of multinational companies (MNCs) has been one of the major subjects of interest in international business terrain, and the political risk factor has constitute a major basis for explaining whether exporting, licensing, franchising, or joint venture agreement (JVA) and Foreign direct investment seems to be appropriate. As such, the study examined the effect of political risk as it affects the entry mode strategies of selected multinational corporations in Nigeria as the economy of most developing economies has been characterized as being exposed to political instability and risk. The research adopted the survey technique with inference to the expo facto method and adopted questionnaire as an instrument through content and test re-test appraisal before data were analyzed through the IBM Statistical Package for the Social Sciences. The results from the analysis indicated that franchising remains a viable option of multinationals in Nigeria and the second hypothesis indicated that licensing significantly reduces the risk exposure of multinational corporations as the licensor have lesser liability in an unstable political economy of the licensee. Based on these findings companies are recommended to adopt appropriate entry strategies in line with governmental policies and economic situation before entering foreign markets.
JEL CODES: M1, M10 -
The determination of economic and public health benefits achievable by increasing regular physical exercise
5-13Views:659There are various methods at our disposal to determine the direct expenses of the factors, which influence the state of health – such as inactive lifestyle –, but research studies aimed at comprehensively determining all direct and indirect expenses have not been conducted in Hungary, yet. We desired to remedy this deficiency with our research, which was prepared at the commissioned order and with the support of the Hungarian Society of Sport Science and the Department for Sport of the Ministry of Human Resources of the Hungarian Government. Using the factual data of OEP (National Health Insurance Fund) we determined the annual cost of illnesses, along with the extent of the cost of physical inactivity, (HUF billion), and we prepared an estimate of the possible amount of savings in Hungary (sick-pay, medication costs etc.), the methodology of which we adapted from international research projects, thus the resulting data in the case of Hungary will later be comparable to international data. International examples reveal the savings achievable by increasing physical exercise in a broad range, even though having conducted the research in different ways and time periods. All research projects concur about one thing, namely that the reduction of physical inactivity can result in significant savings. Our results have verified this statement statistically as well.
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The use of models in optimizing the field crop production in agricultural enterprise - MBA thesis
93-96Views:358The 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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Studying satisfaction and spending willingness of guests visiting spas and thermal baths in the Northern Hungarian Region
125-133Views:342In my study I will show the opinion of the guests familiar with seven thermal baths of the Northern-Hungarian Region (such as Eger Thermal Bath, Eger Turkish Bath, Egerszalók Salt Hill Thermal Spa, Demjén Thermal Bath, Bogács Thermal Bath and the Cave-Bath of Miskolc-tapolca) about the medical supply elements, about the price-value rate of supply elements in the thermal bath, and also the spending willingness of the guests in relation to age and earns. From the data I calculated mean, SD and spectrum and examined the crosstab correlations as well, and the Cramer’s V associate coefficient. The results of the correlation tests could be summarised as the following: Guests regardless financial state and age give grade 4 to price/value ratio, but despite their positive judgement spending is not characteristic (most guests spend nothing additional besides admission fee, if so, they do not exceed the 5000 forint amount) even among those who belong to the ’upmarket’ category. Both younger and elderly guests can be characterised with the economical approach, i.e. “Make both ends meet” although seemingly they could extend these “ends”.
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Organic tourism as a tool to raise healthy tourism destinations: an investigation in Turkey
69-76Views:561The aim of the paper is to specify the items that effect the importance of organic tourism both for human life and sustainable tourism destinations. The fundamental point of the study is to focus on organic farming both as a tool for welfare of the destinations and their importance and potential for the upcoming future of healthy generations using the data collected from segments of the society such as administrators, non-governmental organization members and farmers. The study is also based on an extensive secondary research analyzing the diverse literature regarding the organic/ecological/sustainable/destination tourism. The results are supplemented by semi-structured interviews. To date, many people have been interested in visiting villages and having an experience in living farms. This tourism activity is combined with facilities to create potent economic force to small villages. Besides, consuming organic food is one of the most important attitudes to live healthier and longer by being or working in the farms or villages as a visitor which creates a new era in tourism named as organic tourism. Organic tourism primarily targets tourists, tours organized for the purpose of health, relaxation activities, agriculture education, culture and gastronomy. The research offers a practical help for farmers, local governors, local people (especially villagers), tour operators and visitors fleeing from the intensity of city life in the light of the findings.
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Comparison study of the agricultural subsidy policy applied by Ecuador and Hungary in the last 10 years
Views:555Agricultural subsidies have long been a consistent concern of government policies; they influence the use of resources for pursuing different goals in this sector. In this research, we are making a comparison study of the agricultural subsidy policies of Ecuador and Hungary in the last ten years by a comparative analysis applied for empirical generalization to explain and get a better understanding of the subsidies used in the two countries. The results show an enormous advantage for Hungary compared to Ecuador regarding the agricultural subsidies. Since they are part of the Common Agricultural Policy of the European Union, Hungary's subsidies are institutionalized and planned in the long term within a series of programs financed by the EU and national funds. While in Ecuador, agricultural policies exist as a general framework, and the governing body manages the subsidies through programs and projects that do not remain over time and depend on the current political situation in the country. In the same way, the data collected reflects that although the share of the agricultural sector in Ecuador's GDP is higher than in Hungary, the subsidy amounts for this sector are 36% lower than in Hungary.JEL CODE: Q13 -
The potential economic impact of the Western corn rootworm resistant GM variety on maize production in Hungary
87-93Views:339The paper examines that how the application of the MON88017 GM maize variety could influence the profitability of maize production in Hungary. The most important benefit of this biotech crop lies in its reduced need for chemical use and the additional yield comparing to conventional varieties. Among the economical disadvantages there is the uncertain market of GM products in the EU. After weighing all these factors the results conclude that the farmers could reach an income surplus by growing this GM variety. Although, this surplus is significant only if a similar positive yield impact is achieved under the Hungarian conditions as in the USA.
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MONTE CARLO SIMULATION FOR STRESS TESTING ENDOGENOUS PROFITABILITY FACTORS DURING POLYCRISIS: A CASE STUDY FROM THE POULTRY SUBSECTOR
Views:299Can 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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Hungarian traditional clothing, as on- and offline marketing
Views:657Several experts have already formulated the fact, that this time is the fourth industrial revolution, which affects our lives and it results in a change affecting all areas of life. It is not an exaggeration, that the new procedures and tools change as well – establishing working methods and consumption habits but also affecting our mentality greatly too. We can get the information in different way than a few decades ago, and we can also process more easily information. The development of technology, internet and marketing is getting faster and faster, and many effects of these changes can be felt in all areas of our lives.
There are new trends, which can give new marketing related solutions for companies. These companies have to recognize the fact, that the marketing activity has to be integrated, most importantly, well thought out and also well versed in the case of traditional marketing tools and also online and social media tools. People spend most of their time online whit checking their social media sites.
How important is Hungarian tradition and the preservation of these traditions in the 21th century? Do traditions have any role in the life of the modern man today? What is the social, cultural and economic importance of tradition? This study presents the research result of the company, which started before the pandemic in 2019, furthermore it introduces with the help of the products of the company, and assists people in getting to know the Hungarian tradition and folk costumes too.
Can a company work without online presence nowadays? The internet and the social media sites give new possibilities, which can help to build the reputation, but they also contain risks.
How can a company work effectively on social media? The consistency and the definition of the targeted groups are important in online marketing. What is needed for excellent communication? The company has to know the purpose of the communication: whether it would like to keep contact with the existing partners or would like to make new connections?
JEL CODE: M31
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Economic issues of duck production: A case study from Hungary
61-67Views:472The Hungarian waterfowl sector is characterised by export orientation, as 55-57% of the revenue comes from exports, so its importance is high in the national economy. The production of slaughter animals in the duck sector has doubled in the last decade. The objective of the study is to examine production parameters, as well as the cost and profit situation of broiler duck production and to reveal the correlations between the factors with a case study through the example of a Hungarian company. The production parameters and cost data of the investigated farm (2014-2016, 96 production cycles) were analysed using descriptive statistical methods, correlation and regression analysis. The results show that the average cost of the duck produced in intensive, closed farming system was between 72.6 and 101.7 eurocent kg-1. The most significant cost items were feed (52-63%) and chicken cost (14-19%). The sales price decreased from 112.9 eurocent kg-1 to 98.4 eurocent kg-1 during the examined period, resulting in a profit from -3.3 to 25.7 eurocent kg-1, and overall profitability was decreasing. The study also revealed that there was no correlation between average cost and final bodyweight, while the correlation between average cost and reared period was weak. At the same time, the relationship between average cost and average daily weight gain, mortality, feed conversion ratio was moderate. In addition, the European Production Efficiency Factor (EPEF) can be adapted to the duck sector as strong, positive relationship can be scientifically verified between the indicator and average cost. There is a close correlation between the sold live weight per m2 and the amount of feed used per m2, as well as between the final bodyweight and the amount of feed used to rear a duck, while the correlation between average cost and the sold live weight per m2 is weak.
JEL Code: Q13, Q19
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THE EFFECT OF FARMER BUSINESS SCHOOL ON HOUSEHOLD WELFARE: EVIDENCE FROM COCOA FARMERS IN ATWIMA NWABIAGYA NORTH DISTRICT, GHANA
Views:441Farmer Business School (FBS) is an educational programme aimed at improving the knowledge and skills of farmers in various aspects of agriculture, including financial management and marketing. The purpose of the paper is to examine the effect of FBS on household welfare among cocoa producers in the Atwima Nwabiagya North District of Ghana. Data was collected from a sample of 330 cocoa farmers, 200 of which participated in the FBS programme and 103 who did not. The study employed a range of statistical techniques to investigate the effect of FBS on cocoa growers, thus, independent samples t-test, binary probit model, Kendall's Coefficient of Concordance and perception index. The results of the study suggest that involvement in the FBS programme has a positive significant influence on household welfare. Cocoa farmers who participated in the programme experienced a significant increase in income and yield, as well as improved overall well-being against those who didn't take part. The research's findings offer evidence that FBS programmes can play a vital role in enhancing the welfare of farmers, particularly in developing nations where agricultural livelihoods play a crucial role in economic growth and poverty reduction. The study highlights the importance of investing in education and training programmes for farmers to improve their skills, knowledge, and overall well-being.
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