Search
Search Results
-
The potential economic impact of the Western corn rootworm resistant GM variety on maize production in Hungary
87-93Views:303The 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.
-
MONTE CARLO SIMULATION FOR STRESS TESTING ENDOGENOUS PROFITABILITY FACTORS DURING POLYCRISIS: A CASE STUDY FROM THE POULTRY SUBSECTOR
Views:147Can 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.
-
Hungarian traditional clothing, as on- and offline marketing
Views:588Several 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
-
Economic issues of duck production: A case study from Hungary
61-67Views:389The 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
-
THE EFFECT OF FARMER BUSINESS SCHOOL ON HOUSEHOLD WELFARE: EVIDENCE FROM COCOA FARMERS IN ATWIMA NWABIAGYA NORTH DISTRICT, GHANA
Views:379Farmer 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.
-
Nexus of non-farm enterprises and rural households’ livelihood: evidence from Nigeria
Views:321Agricultural 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
-
CONTRIBUTION OF COMMUNITY BASED ORGANIZATIONS IN ENHANCING RURAL COMMUNITY DEVELOPMENT: INSIGHTS FROM OSUN STATE, NIGERIA
Views:143This study examined the contribution of community-based organizations (CBOs) to rural community development in Osun State, Nigeria. Specifically, it described the characteristics of CBOs, identified their goals, types, and development projects, determined their contributions to rural development, and identified challenges limiting their performance. A multi-stage sampling procedure was employed to select 48 registered CBOs across the state, with 180 respondents. Data were collected through structured interview schedules and analyzed using descriptive statistics, while Pearson Product Moment Correlation (PPMC) was applied to test the study hypotheses. Results indicated that the mean years of formation of CBOs was 21.3 ± 9.5 years, majority had written constitution with a mean membership strength of 40±12 members. Primary goal of CBOs was economic empowerment of members (85.4%), The most prevalent CBOs included landlord associations and social groups. Most CBOs initiated erection of security gate at community entrance (75%) and provision of vigilante (70/8%). Provision of security for community and government property (mean = 2.83) and implementing of developmental projects (mean = 2.70) were s the most prominent contribution of CBOs. The major constraints affecting CBO performance were lack of funds (mean = 1.85) and lack of government support (mean = 1.51). Statistically significant relationships were observed between contribution and leadership tenure (r = -0.276, p ≤ 0.01), operational constitution (r = -0.406, p ≤ 0.01), and membership size (r = 0.299, p ≤ 0.05). The study concluded that despite the fact that CBOs contributed meaningfully to rural development, their potential remains constrained by limited institutional and community support. It is recommended that government should recognize and institutionalize the role of CBOs in rural development
-
What differentiates the entrepreneurs from non-entrepreneurs on nature and nurture?
45-52Views:927Based on the importance and contribution of entrepreneurship in economic development, it is vital to know that what underlying factors may promote the spirit of entrepreneurship? The entrepreneurship literature suggests two kinds of broader influencers or predictors for entrepreneurs and non-entrepreneurs “nature” and “nurture”. In this study “nature” includes the psychological or personality related factors; self-confidence, locus of control, risk-taking propensity and trust levels. The “nurture” is explained by the effects from society in general and friends and family in particular. To answer the question “What differentiates the entrepreneurs from non-entrepreneurs on nature and nurture?” we collected data through questionnaire from 155 respondents. The 70 respondents were entrepreneurs and 85 were non-entrepreneurs. Step-wise discriminant analysis was used to determine the discriminating factors for entrepreneurs from non-entrepreneurs. Results indicate that societal impacts, risk taking propensity and trust levels were significantly discriminating the two groups; entrepreneurs and non-entrepreneurs. The study has important implications for policy makers, academicians, researchers and potential entrepreneurs.
JEL Code: L26, M13
-
HOUSEHOLDS’ FOOD CONSUMPTION BEHAVIOUR DURING COVID-19 PANDEMIC: EVIDENCE FROM RURAL HOUSEHOLDS IN SOUTH AFRICA
Views:373The food consumption behaviour of households has been affected by the lockdown restrictions that were implemented to reduce the COVID-19 infection rate. This study was aimed at analysing the food consumption behaviour of rural households during the COVID-19 pandemic in South Africa. To achieve this, a simple random technique was used to collect data from 120 in Merry Pebble (MP) Stream Village. Thereafter, an Ordered Probit Model was used to examine the extent to which households have increased, decreased or maintained the same quantity of food consumed during COVID-19. The results indicated that 46.7% of the rural households had consumed less food during COVID-19 pandemic, 32.5% consumed about the same amount of food, and 20.8% consumed more food. The variables that contributed towards a decrease in food consumption are employment status, household size, loss of income, and social relief grants. On the contrary, bulk buying and food parcels had stabilised food consumption, while the number of employed people in a household and food bought from restaurants contributed towards an increase in food consumption during COVID-19 pandemic. With regard to consumption behaviour per food item, fresh produce, meat, snacks and fast food were consumed less during COVID-19, while there was a constant consumption in dairy products, and an increase in consumption of canned food, frozen food, prepared food, grains and water. The study recommends that the government should continue with the economic and social relief programmes that were created during COVID-19, as they play an important role in increasing and stabilising food consumption by rural households.
-
The impact of boundary organizations on decision-making under uncertainty: A multi-agent simulation
13-16Views:283Modern environmental issues imply that decision-makers have the capacity to take into account possibly conflicting information from distinct domains, such as science and economics.As the development of technology increases the temporal and spatial scopes of risks, decision-makers can no longer consider economic and scientific information separately but should encourage experts to work together. Boundary organizations, institutions that cross the gap between two different domains, are able to act beyond the boundaries while remaining accountable to each side (Guston, 2001). By encouraging a flow of information across the boundaries, they permit an exchange to take place, while maintaining the authority of each domain (Cash et al., 2003; Clark et al., 2002). The goal is to simulate boundary organizations to assess their impact on the diffusion of experts’ opinions. The hypothesis tested is whether the existence of a boundary organization eases the decision-making process by reducing the number of opinions expressed. The methodology relies on a multi-agent system based on a model of continuous opinion dynamics (Deffuant et al., 2001) extended over two dimensions. The world is defined by two parameters: the uncertainty, that reflects the possible zone of discussion between experts, and the exchange, which represents the openness of discussions. Agents are described by credibility and conviction: the credibility represents how much other agents may be influenced by an agent, and the conviction represents the resistance of an agent to changing its position. Two kinds of agents are left free to interact, modifying their position in their domain (dimension) through one-to-one exchanges. Agents called borgs are introduced: open to trans-disciplinary discussion, they are able to exchange on both dimensions. The results show that the range of expressed opinions is significantly reduced, even at low levels of experts involved in the boundary organization.
-
The effect of working capital on profitability of poultry egg enterprise in Osun State, Nigeria
Views:333This study investigated the effect of working capital on the profitability of poultry egg enterprise. Primary data were collected from 180 poultry egg farmers using two-stage sampling technique. Data were collected on the socio-economic characteristics such as age, gender, educational qualification, farming experience and flock size owned, quantities of inputs and outputs. Descriptive statistics, farm budgetary technique and ordinary least square model were used to analyze the data collected. The results from descriptive statistics show mean values of 42 years, 9 years and 5 persons for age, years of experience and household size, respectively. Majority of poultry egg farmers (52.2%) used their personal savings to fund their businesses while, some had access to loan from co-operative societies (37.2%), from SEAP microfinance (6.7%) and from banks (3.9%). Poultry egg producers invested their working capital on feeds (64.8%), rearing of poultry birds from day old chicks to point of lay (14.8%), account receivables (13.6%), drugs & vaccines (2.4%) and variable overheads (4.4%). A total cost of ₦5,494,927.04k was incurred by the poultry egg producers. Cost of feed accounted for 71.89% of the total cost of production. A total revenue of ₦9,388,555.60k and the net returns of ₦3,893,628.56k were realized. The net farm income per bird from the enterprise was ₦1,698.05k while the gross margin per bird was ₦1,795.32. The ordinary least squares regression estimates revealed that inventory, account receivable, operating cycle and flock size have significant effect on the profitability of poultry egg enterprises. The study concluded that poultry egg enterprise is profitable and working capital has a significant effect on the profitability of poultry egg enterprise. In light of the findings, the study recommended the expansion of the poultry flock size as well as reduction in the number of days of inventories, account receivables and operating cycle in order to increase the profitability of poultry egg enterprise.
Keywords
