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Vertical price transmission analysis: the case of milk in the Slovak dairy sector
89-96Views:189Testing for nature price transmission and calculating elasticities of price transmission are important areas of research for providing insights into market efficiency issues. Symmetric or asymmetric price transmission has been the subject of considerable attention in agricultural economics. The concept of the price transmission is an important area of the research particularly in relation to the assessment of impact on the welfare of the vertical entities. The main goal of the paper is an analysis of the price transmission and its exploitation in case of price elasticity estimation in dairy sector. Work investigates vertical price transmission of milk in the Slovak agri-food chain. The research is based on Vector Error Correction Model (VECM) of the selected commodities at producer, processor and consumer level and the estimation of the parameters specified in the model. Moreover the paper determines the coefficient of elasticity of price transmission (EPT).
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Urban Food Crop Farming and Farm Households’ Food Security Status in Oyo State, Nigeria
23-28Views:180Food production and supply has been on the decline in Nigeria with a consequent impact on household food security. This study examined the influence of urban farming on household food security in Oyo State, Nigeria. Multi-stage sampling procedure was used to select 159 farm households in a cross-sectional survey. Structured questionnaire was used to obtain data on socio-economic characteristics, determine the food security status of urban crop farming households in the study area, and examine the effects of urban crop production on households’ food security status. Data were analysed using descriptive statistics while the statistical tools were Food Security Index (FSI) and Probit Regression Model (PRM). Results revealed that 84.9% of the respondents was male, 81.2% married. The average age, household size, and farm size were 49.6 years, 6 persons, 1.1 hectares respectively. Most (75.5%) of the respondents did not have access to consumption credit and 62.3% did not belong to any farmers association. Based on minimum daily energy requirement per adult equivalent of N230.8, 90.6% of the farm households was food secure.
The PRM showed that age (β = -0.1, p<0.05), household size (β= -0.4, p<0.01) and economic efficiency (β = -61.6, p<0.05) reduced the probability of household food security while access to consumption credit (β= 1.7, p<0.05) and allocative efficiency (β = 67.9, p<0.05) increased the probability of household food security. The study concluded that urban farming significantly influence household food security.
JEL Classification: Q11
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Hungarian dairy and beef production sector technical efficiency comparsion using DEA
131-138Views:223To examine and compare the technical efficiency of dairy sector and the beef sector, this research introduced the main indicators of milk and beef production in the world, EU and Hungarian aggregates. Based on the data it can be said that the milk and beef production of Hungary does not occupy any significant position in the world as well as in the European Union neither today nor even in the past. If Hungry must compete in the European counties and international market, their dairy sector must focus to increase of their production efficiency as the key breakthrough point. This paper we compared technical efficiency of both dairy and beef sectors in total, for the year 2014 and 2015 separately and based on the farm size. The specific objectives of the research are: comparing dairy and beef farms efficiency in Hungary. Based on the results, we can determine which sector in Hungary is more effective. The second objective is to compare the efficiencies of both the sectors in 2014 and 2015 separately and from the results we can determine which year was more effective in terms of production efficiency and the third objective of the research is technical efficiency comparison of certain economic sizes for both sectors. In the research, we used (KOVACS, 2009) deterministic (DEA) model adapted to the Hungarian dairy farms and beef farms. For the dairy farms milk and dairy products as well as meat (other income). The input factors originated from the domestic AKI - FADN database. Summarizing the results of the research it can be conclude that the dairy sector is more effective than the beef sector in Hungary. In terms of years compared 2014 was more effective for both sector as compared with 2015. In regards to the farm size almost the same result in evaluating the scale of efficiency, which means that large economies can in most cases, manage resources more efficiently than small farms. In the examined years, based on the results of the DEA model, the VRS technical efficiency of the test for these two years was 72.90% for the dairy farms and 63.60% for the beef farms, which means that the dairy sector is more efficient than the beef sector in Hungary. The VRS technical efficiency of the research was 82.10% in 2014 and 75.10% in 2015 for the dairy farms and 77.50% in 2014 and 68.90% in 2015 for the beef farms, which means that both the dairy sector and the beef sectors followed the same trend and were more efficient in 2014 compared to the efficiency in 2015. The large size dairy farms were most effective in Hungary in the examined period (90.90%). VRS technical efficiency for small farms is 88% and the total number of small, the technical efficiency medium farms was 72.80% For the beef sector VRS technical efficiency for small farms is 71.30% and the technical efficiency medium farms was 74.40% and 70% of the beef meat producing farms in Hungary are medium sized. So, the conclusion is the small size dairy farms have a higher VRS efficiency than the small size beef farms whereas medium sized beef farms had higher VRS efficiency than the medium size dairy farms. As a conclusion, both dairy and beef sectors in Hungary have the potential to overcome technology and knowledge constraints and attain the upmost attainable productivity level through improvements in; farmer volume of production i.e. output, beef cattle technologies, and advertising, and the efficiency of the technology transfer process.
JEL Code: Q13
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The most relevant factors and trends in energy cooperation between Kazakhstan and China, focused on renewable energy sources (RES)
Views:542This 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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Examination of enterpreneurship ecosystem in Debrecen from the direction of open innovation spaces
51-59Views:143Innovation is not just a technology, but it is rather a comprehensive vision of what the future should look like and which requires changes in many ambits. Innovation is driven by people’s needs, ambitions and dreams, and it is necessary that people at different positions in the society change the way they work and live. Innovation, as a result of human interactions, often fails because people do not understand each other, as they belong to different worlds which have their own languages and cultures. While innovation system-like thinking recognizes that the needs are a good mix of factors for innovation, it is hard to establish the perfect mix beforehand: innovation systems and policies need to be adaptive” (Klerkx, Mierlo & Leeuwis 2012). I tried to bring this complex vision to our future. The actuality of the topic is provided by the fact that we are in the period of the development of digital industrial revolution, on the peak of the technology innovations, slowly resulting in the revolutions of the machines. These technological innovations, trends, equipment or new technological achievements often make our work easier, or they may replace us, and will bring changes transforming the world with them. At present era, the availability and use of the relevant knowledge is essential. In Western Europe and in other more developed countries different spaces provide places for evolving various trends, applying the acquired knowledge, e.g. development of Silicon Valley, polices, clusters, co-workings. These innovative spaces may form a bridge for evolving a global, international or regional technology and knowledge transfer, sharing our knowledge and developing our competitiveness. They may be the engine of a “new world”. The entrepreneurship ecosystem in Debrecen was investigated regarding the presence of open innovation spaces. Though Debrecen has already had open innovation spaces, it does not have space operating as HUB. „HUB is a global platform, where people from all corners of the planet connect and engage in collaborative action to realize enterprising ideas for a better world” (HUB GMBH 2012). Furthermore, I studied the fact that why the creation of HUB in Debrecen is reasonable concerning every sector, and what characteristics this space may have. In order to analyze my hypotheses, I used questionnaires made by Delphi survey. During the process experts of this field were asked in two turns. Selecting the experts occurred on the basis of Helix model.
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A disaggregated analysis of monetary policy effects on the agricultural sector in Nigeria
47-58Views:416This study provides a disaggregated analysis of the effects of monetary policy shocks on the agricultural sector in Nigeria from 1981Q1 to 2016Q4. The study utilized the generalized impulse responses and the normalized generalized forecast error variance decompositions from an underlying VAR model, which are order-invariant. The four monetary policy variables used in the study are interbank call rate, monetary policy rate, broad money supply and exchange rate; while the four agricultural sub-sectors investigated are crop production, forestry, fishing and livestock. The study also controlled for the general price level and other economic activities in the overall economy. The findings indicate that the aggregate agricultural sector and its various sub-sectors consistently responded negatively to unanticipated monetary tightening in most of the forecast horizon; while the immediate impact of monetary policy shocks is transmitted to the agricultural sector through the interest rate and money demand (credit) channels. The findings further indicate that apart from these two channels, the roles of monetary policy rate and exchange rate are non-negligible in the long-run. The role of money supply channel in spreading monetary policy shocks to the agricultural sector remained muted all through. The study concludes that the monetary authority should evolve interest rate, credit, and exchange rate policies that will promote the development of the agricultural sector in Nigeria.
JEL CODES: E52; N50; C22; N57
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The choice between conventional and organic farming. A Hungarian example
55-58Views:175The paper deals with organic produce in one of the largest and, concerning organic production one of the most diffused counties in Hungary, Pest County located in the north-central part of the country. Factors influencing farmers’decision on adopting or not e.g. farm size, farm type, location, structure, market for organic products, existence of organic AEM were analysed. Hypotheses based on previous empirical literature were tested by a model explicitly accounting for the effects of farm-specific variables like age, education, size of farms and share of rented land. Logit model was estimated on a cross-section data set of Hungarian farmers for the period 2007. It appears that education has a positive impact on the choice between conventional and organic farming, and, the size of the farm in hectares has a negative effect on this choice.Age and some general considerations on environmental friendly technologies do not have a significant effect on choice between conventional and organic farming.
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Optimal crop plan of cooperative farmers in Osun state, Nigeria: a linear programming approach
Views:247Optimal level of production requires better use of existing resources at the lowest possible cost. Despite the inherent advantage of cooperatives to the agricultural sector, the question of how farmers under cooperative umbrella use farm resource for optimal outcome remains unanswered. This study investigates optimal crop mix for cooperative farmers in rural communities in Southwest Nigeria. Primary data were collected for the study through structured questionnaire. The data were fitted to Linear Programming Model. Three different cropping patterns are identified among the cooperative farmers. Based on the results from linear programming model, only maize, cassava and yam are admitted in the final plan and this combination is to be produced at 2.23 hectares. The gross margin value associated with the plan is ₦156, 235.781 (1$ = N365). Input resources such as land, labour, fertilizer, and chemicals are not fully utilized. The slack values for these inputs are 0.31, 651.20, 1929.6 and 140.76 respectively. The sensitivity analysis shows that seed/seedling is the only binding resource in the final plan with a shadow price which suggests that proper allocation of seed and seedlings would improve returns to cooperative farmers. There is need for appropriate farm management strategies to ensure optimal return for farmers. More education and training is suggested to boost cooperative farmers understanding of optimum strategy that is needed to improve production and earnings.
JEL code: Q10, Q13
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Allocation of structural funds before and after the brexit: An exercise in the economics of cake-sharing
69-71Views:207What impact has the Brexit on the allocation of money from the structural funds? As the UK is a net contributor to the EU budget, the budget for Structural and Cohesion Policy will shrink. This will have an impact on the allocations of the structural funds to the remaining members of the EU. In order to estimate the allocation of the structural funds to the remaining EU members an allocation model is developed in this article. It appears that the model results do not only show the sharing of the cake, but also the size of it.
JEL Code: F00, Q00
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Farm-retail price transmission in Malaysian pork sector
87-92Views:175This study intends to determine the farm-retail price transmission behaviors of pork in Malaysia to serve as a good implication for pork pricing system in Malaysia. Using monthly data from January 1997 to December 2008, markup pricing model, Houck, and ECM approaches were estimated. While many previous studies found that farm-retail price transmission is asymmetric, this study encountered different result where the findings in both the Houck and ECM approaches suggested that the Malaysian pork farm-retail price transmission is symmetric. A change in farm price of pork is likely to have similar direction in change of retail price of pork in Malaysia. The pricing system of pork can therefore be further described by the estimated price transmission elasticities (that derived from the symmetric mark-up pricing model) where retail price is very sensitive to the changes in farm price. A change in farm price is expected to result in a bigger change in retail price of pork while other things remain unchanged.
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Potential of vertical and horizontal integration in the Hungarian fish product chain
5-15Views:226After the economic and political transformation, the output and resource utilization of the Hungarian fish production sector decreased less than in other livestock sectors, and it managed to preserve its income position. As a consequence of the relatively low level of the implemented innovative developments, though, for all the EU assistance available the cooperation efforts did not prove to be very efficient. The relatively favourable income position of several farms led them to a kind of “leisureliness”, and as a result, the level of the applied production technology in many cases did not even reach that of the 1970s. All these circumstances led to the degradation of the innovations and to the expiration of the horizontal and vertical integrations in the sector, leaving the commercial and cooperation forms being typical in an otherwise stabile classical free-market environment. Problems were further increased – amongst other things – by the volatile cereal prices, 27% VAT rate, and the introduction of road toll. After long years, certain farms were to face losses, and the decline of profitability at sectorial level, thus the need for innovation and producers’ co-operations has become imperative. As a solution option to these problems, a model of a product chain containing both horizontal and vertical elements and comprising the entire sector has been developed. Present study introduces this new model, which is established on foreign examples primarily, but takes the Hungarian specialities into account too.
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The operation of the Hungarian broiler product chain
47-50Views:164The general objective of this paper is to present the inner connections of the broiler product chain and the process of value generation in the economic situation of 2007. I introduce the input-output model of the broiler product chain adapted from macro-economic analysis, in which I calculated the direct connections of the product chain phases and between the national economic branches outside the chain. Then I point to the disproportion of the product chain through the profit distribution. Moreover, to evaluate the process of the value generation I demonstrate the value added generated along the value chain (year 2007). On the basis of the results 825 EUR of value added is realized to one ton of ready product (chicken meat), from which the major portion is shared by processing. The paper also determines the added value and the major factors influencing its ratio within the product chain.
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Automated valuation model for livestock appraisal in loaning practice
37-42Views:111Actualization of loan security (mortgage) value is of major importance in Hungarian loaning practice. Due to the recession in economics, the value of agricultural portfolio of banks has decreased a great deal, though not to such a great extent as other branches of the economy. Depreciation of estate stock is compensated with additional collateral security. Besides other stock, often temporarily and out of necessity, livestock is presented as additional collateral security. From the loaners’ point of view, however, the registered inventory value does not guarantee security. The authors have set up an appraisal method giving professional guidance through automated valuation as to how dairy stock can be used as mortgage for loan security. Hereby we are to present the details of both the theory and the methodology of a model that is appropriate for the valuation of dairy livestock on an MS Excel basis. Thus, the process is fast and has more prospects for all parties in the loaning or leasing business. The method involves the features of livestock technology, the expected realized profit, and breed stock value. By the implementation of this method, the loaners can calculate the value of loan recovery (loan to value) with acceptable security.
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Touristic Motivation and Lifestyles of Hungarian Domestic Tourists Correlation Study
47-54Views:200Motivations are closely interwoven with personality theories. According to researchers the object of motivation theory is primarily to describe what is common in people, whereas lifestyle theories highlight the individual differences among people. Tourism travel decisions constitute a special type of consumer decisions in which case the tourist has to make a choice among the personal tourism services on offer according to his/ her individual needs, but still as a segment specific product corresponding to common motivations. Consequently, certain elements of lifestyle and motivation theory appear in touristic decisions as well. Having perused the relevant trade literature, I came to the realisation that there have been very little research done in the area of travel motives in recent years. The examination of the correlation between motivation and lifestyle complemented with model application is a field belonging to applied marketing science which can be regarded as uncharted territory in tourism research. Domestic tourism accounts for a significant portion among the national income sectors. That is why it is of key importance to be aware of the correlation between the habits and needs of the local population and the factors influencing travel decisions. Applying the results of my research I endeavoured to define and model the lifestyle, needs and motivations of domestic tourists as the factors influencing their decisions. With the results of the investigation, I also wished to provide some guidelines for the creation of tourism supply in view of product development and communication.
JEL Classification: Z32 tourism and development
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Impact of Terrorism on Agricultural Business in Borno State, Nigeria
117-124Views:262This 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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Consumer willingness to pay a premium for a functional food in Ghana
51-59Views:216Interest in functional foods has been growing in sub-Saharan Africa due to consumer concerns with diet and nutrition. This paper analyses consumer awareness, perceptions and effects of the determinants of consumer willingness to pay (WTP) a premium for Moringa bread in Ghana. An ordered probit model is employed. The empirical results indicate that consumer knowledge of the nutritional and health benefits of Moringa bread is what matters most to consumers in respect of their WTP a higher premium for the product. Consumers with knowledge on Moringa products are more willing to pay above 50% price premiums for Moringa bread. Fruitful policy recommendations are made in the paper.
JEL code: D12
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Defining the strategic objectives of Hungarian mutton product chain and elements of marketing strategy in the beginning of the second decade of the century
119-132Views:238The sheep sector is regarded to be a “black sheep” in Hungary, both in terms of economy and marketing. On one hand, the sector is not easily traceable as available relevant data are partial and infected by the effects of black market or underground economy; on the other hand, there are no clear, concrete statistical data or surveys on consumption either.
The present study attempts to dissolve the above anomalies and present findings by fact-based model calculations and actual marketing surveys. The fact-based model developed and used for more than 200 variables verifies the correctness of economic calculations. Original examinations were performed by Béla Cehla, doctoral candidate, in 2000–2011. The marketing survey, although not in full accordance with statistical requirements, was carried out in 2012 and it processed relevant data authentically.
The main conclusions are the following: It is clear so far that genetic basis should primarily be evolved in the industry, as it is the factor that mainly contributes to profitability and price-type factors come only following it. Genetic modification is achievable by changing breeds or crossbreeding. The findings of product chain level sensitivity analysis have provided clues that the added value generated in the sector is already determined during slaughter lamb production and progeny influences this value in approximately 80%. Critical points are feed conversion ratio and the relating price of lamb feed, which influence added values by 2.7–2.9%. The remaining factors affect added value through feeding costs, although not considerably.
The following activities can boost interest in the market of sheep products:
• Comprehensive market research
• Stimulation of cultural development by product-tasting, exchanging information and recipes
• Development of supply in accordance with demand
• Identification of target markets, positioning products
• Diversification of product range
• Community trade mark to guarantee excellent quality and Hungarian origin
• Selection of credible poster faces, organization of advertising campaigns -
Graduate students’ opinions about entrepreneurship as an employment opportunity
23-29Views:190One of the most unwanted and unavoidable consequences of the economic recession is the high rate of unemployment. Graduate students in Croatia are faced with lack of employment possibilities, and for some of them the self-employment looks like a good solution. In this paper, we investigate attitudes and intentions of graduate students at the University of Zagreb Faculty of Agriculture regarding to selfemployment. Most of the surveyed students are in the age between 21 and 25 years, and they have already got some kind of knowledge about entrepreneurship during the formal education. In addition, majority of them have the experience of part-time jobs. The Theory of Planned Behaviour (TPB) model was used to find out to which extent students’ attitudes and experience influence their expressed self-employment intentions. The results revealed that Zagreb students’ scores are close but somewhat lower than the same scores found in the comparable study from Australia. This goes for the investigated variables: (1) previous entrepreneurial experience (PEE), perceived desirability of selfemployment (PDSE), perceived entrepreneurial self-efficacy (PESE) and self-employment intentions (SEI). It was found that the score on the PEE is significantly related to scores on the PDSE (p=0.000), and PESE (p=0.000), which means that the experience positively influence respondents’ attitudes on self-employment and self-efficacy. There is also a statistically significant difference in the on the SEI with respect to the PDSE (ANOVA F=9.804, p=0.000): respondents that consider self-employment more desirable expressed higher intention to perform it. The PDSE was found as the most influencing model variable in regards to the self-employment intention. The results points out the importance of previous experience, role models and positive attitudes towards self-employment in the process of the entrepreneurship development in young, educated population.
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Changes in costs of precision nutrition depending on crop rotation
59-63Views:145By applying precision nutrition the yield heterogeneity owing to the different features of soil spots can be taken into consideration. The planned and sprayed fertilizer adjusted to the expected yield rendered to soil spots can reduce the negative effects of artificial chemicals on soil and environment. The aim of this paper is to examine how the quantity and the cost of fertilizer (material and operational) will change on spot level on a certain plot during a five-year period, considering crop rotation, too. The following crops are in the rotation: winter wheat, corn and sunflower. Precision nutrition can be used in all the cultures mentioned above. Our earlier (static) model calculations have revealed that the threshold price of precision production was lower by 31% than in conventional technology. So it is necessary to explore for a longer period how the profitability of precision nutrition reacts to the changes in input and yield prices in different crops. The risk receptivity of precision nutrition can be characterized with the help of price sensitive analyses. Effects on profitability of other technological elements are not analysed in this paper.
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A Quantitative Assessment of the Rurality and an Efficiency Analysis of Emigration in Romania
39-46Views:204In Romania, as in many other Eastern European countries, the early 1990s were marked by a significant emigration from the countryside as a consequence of the transition from a centralised economy to an open one and due to key changes in the political framework. The permanent emigration has predominantly been concentrated in rural areas where multiple socio-economic variables such as GDP per capita, unemployment, and public financial subsidies aimed at supporting people at risk of severe deprivation and poverty have all had a direct effect on rural depopulation. The rurality is a complex theoretical construct comprising many items and variables and is, therefore, difficult to define in a concise manner. The aim of this paper is to assess the evolution of emigration in Romania between 2001 and 2016 through a quantitative approach, estimating an index of rurality for the same period composed of a set of socio-economic variables having a direct or indirect nexus to it. In the first phase of research, a matrix of correlation and a multiple regression model has been used in order to estimate the direct links among all investigated variables. Following the quantitative methodology, in the second phase Partial Least Square Structural Equation Modelling (PLS-SEM) has been used in order to assess the main cause-effect relationships among a few selected endogenous variables and a set of socio-economic items. Furthermore, using a non-parametric Data Envelopment Analysis (DEA) output-oriented model, this research has assessed the efficiency in terms of permanent emigration from Romania estimated as an output to minimise and not as an output to maximise, as investigated by traditional efficiency approaches. In terms of efficiency, financial subsidies allocated by national authorities and the level of per capita Gross Domestic Product have acted directly on the level of emigration. The index of rurality in 2016 has been influenced in particular by he pluriactivity in farms in terms of agritourism, the dimension of farms in terms of land capital endowment, and the level of GDP per capita.
JEL Classification: Q10; Q18
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The institutional determinants of bilateral Agricultural and food trade
53-57Views:154The paper investigates the effects of the institutional determinants on trade in agricultural and food products among the OECD countries using a gravity model approach. We focus on the impact of the quality of governance and the similarity of institutions in explaining variation in bilateral agricultural and food trade patterns. Results confirmed the separate effects for the institutional similarity and the institutional quality on trade patterns. The institutional similarity has positive and significant impact on trade in a similar institutional framework for agricultural, but less for food products. The institutional quality has significant positive impact on trade in both agricultural and food products for importing countries.
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Effect of Training on Small-Scale Rice Production in Northern Ghana
13-20Views:168Training in modern farming methods enables farm households in developing countries to improve agricultural productivity. Notwithstanding the efforts of governmental and non-governmental organisations to provide farmers with agricultural training, productivity remains low. The existing literature provides little empirical evidence of the effect of training on agricultural productivity in Ghana. This study therefore seeks to bridge this gap by investigating small scale rice farmers’ participation in agricultural training programmes and its effect on productivity in northern Ghana. A treatment effect model was used to account for sample selection bias. The results indicated that participation in training increased with the number of extension visits, group membership, access to credit and the degree of specialisation in rice production. Furthermore, total output and labour productivity both increased with participation in training but the relationship with land productivity (yield) was insignificant. On average, participation in training was associated with 797kg increase in rice output, while labour productivity increased by 7.3kg/man-day. With the exception of farm capital, all the production inputs had a positively significant relationship with output suggesting sub-optimal use of capital in production. The study concludes that farmers’ training needs are not adequately being met while inadequate capital is constraining farm output. Increasing access to extension service and involving farmer-based organisations in the design and implementation of training programmes will enhance participation and farm performance.
JEL Classification: C21, D24, Q12
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The effect of working capital on profitability of poultry egg enterprise in Osun State, Nigeria
Views:125This 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.
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Determinants of job satisfaction amongst employees in the poultry sub-sector of Ghana: a test of equity theory
97-104Views:430The study investigated the factors affecting job satisfaction amongst workers of the poultry sub-sector: a test of equity theory in the Dormaa Municipality in the Bono Region of Ghana. The multistage sampling technique was employed in collecting data from 100 poultry workers with the aid of a structured questionnaire. The logit model was employed in modeling the factors affecting job satisfaction. The empirical findings reveal that occupational level, pay, and relationships with co-workers were the statistically significant determinants of job satisfaction. Moreover, the study found that based on equity theory if poultry workers are satisfied with their pay, they would want to stay longer compared to referent others who are not satisfied. Benevolent poultry workers were dominant (52%), followed by equity sensitive (28%) and entitled (20%) poultry workers. Moving forward, the relevance of equity theory on workers in the cocoa value chain should also be investigated as cocoa remains a staple crop in Ghana.
JEL Code: Q10
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The PLACE OF AMORTIZATION AMONG COSTS, AS WELL AS EFFECT OF DIFFERENT DEPRECATION CALCULATION METHODS ON MANAGEMENT FROM BUSINESS ECONOMIC AND FINANCIAL VIEW OF POINT.
Views:152In our article, we try to present the place of amortization (depreciation) among costs, based on several aspects. After that, we will present the different description methods based on their characteristics, giving priority to what their use means for the entrepreneur. We support this with the help of model calculations. We present what mean the amortization accounting methods assuming that management is without inflation or between inflationary conditions. Based on this, we try to formulate proposals on how state intervention how could help businesses in inflationary economic conditions beyond that it would be more permissive in the choice of description method. Following the business economics approach to the question, we will examine the effect of amortization on tax base and the income, taking into consideration financial and accounting aspects. Considering that the use of the fixed assets and thus the expected return period takes several years, we must attention to the careful planning of the amount of replacement costs. When determining the required capital value, we cannot ignore the time factor, the time value of money. The required value of capital accumulation supplementing amortization per period is determined using the annuity method.
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