Interactivity and Soft Computing in Portfolio Management: Should Farmers Own Food and Agribusiness Stocks?

This article proposes a fully integrated and interactive elicitation-optimization procedure for portfolio management. A soft computing approach based on fuzzy logic is developed as an alternative to the traditional mean variance model and compromise programming approach. The models are applied to farmers to examine whether they should buy publicly traded food and agribusiness firms stocks rather than invest in a broader market stock portfolio. Results suggest that investments in publicly traded food and agribusiness stocks allow farmers to capture additional benefits beyond those of simply diversifying in the broader market.     

Earnings Management through Specific Accruals and Discretionary Expenses: Evidence from U.S. Agribusiness Firms

This study examines both accruals based earnings management (AEM) and real earnings management (REM) in U.S. agribusinesses. In particular, the focus is on agribusinesses that report low earnings quality, defined as firms with extreme level of accruals compared to their peers. The cross‐sectional modified Jones model (Jones 1991; Dechow et al 1995) is used to test for AEM. To capture REM practices, we implement the discretionary expenses model by Roychowdhury (2006). We find evidence of AEM and find no evidence of REM in agribusinesses. In addition, our results show that managers might be managing earnings through specific accruals doubtful accounts receivable provisions and special items.     

Time Integration: Agribusiness Structure for Competitive Advantage

Traditional views and models of perishable food suppliers fail to capture the fundamental role of time integration in firm-level organization. A two-phase research design of major grower–shipper firms of lettuce, tomatoes, and melons reveals a diverse distribution of firms across the time-integration continuum. Most firms use more than one microclimate to extend product availability. Decision makers are encouraged to understand the implications of these temporally integrated organizations on agricultural and trade policy.     

Agribusiness,Peasant Agriculture and Labour Markets: Ecuador in Comparative Perspective

The consolidation of capitalist agriculture in countries such as Ecuador has led to a recent revaluation of territories (central highlands) where cheap labour has facilitated agribusiness development linked to the world market. This process generates growth in the numbers of rural wage workers and the creation of a labour market that, in relation to others in several Latin American countries, has certain particularities: permanent jobs, gender balance, an absence of intermediaries and low levels of precariousness. Small‐scale peasant producers are marginalized in this context and play functional roles within the current dynamics of agribusiness firms. The organizational weakness of rural wage earners and the pursuit of clientelist relationships by firms do not allow rural workers and local communities to devise economic and social strategies that might improve their position in this ‘field of forces’ in the territory.     

Willingness-to-Pay Estimates and Their Relevance to Agribusiness Decision Making

Although methods such as contingent valuation have received a great deal of attention in environmental valuation literature, fewer studies have reported willingness-to-pay estimates with agribusiness applications. Because agribusinesses are increasingly interested in producing and selling differentiated goods and services whose values has not been established by well-functioning markets, we provide a short introduction to willingness-to-pay methodology and provide a discussion of several different methods used to estimate willingness-to-pay. More specifically, we discuss how much of the work in environmental and experimental valuation literature can be extended to agribusiness applications, which have their own set of unique issues.     

Marketing Channel Choice and Marketing Efficiency Assessment in Agribusiness

In agribusiness, profitability critically depends on the choice of proper marketing channels. This article studies the factors influencing marketing channel choices of vegetable farmers. Vegetable farmers have generally 3 choices to sell their produce, which are formal and informal market participation vis-à-vis nonmarket participation. Ten independent variables are considered for the study and a multinomial logistic regression model is used for the analysis. The study finds 4 major variables that can influence farmers’ decision to shift from nonmarket participation to informal or formal market participation. The article further identifies 4 microlevel marketing channels and assesses their efficiency.     

Foreign Direct Investment and the Performance of European Agribusiness Firms

This article analyses the relationship between foreign direct investment and the performance of European agribusiness firms. Motivated by the role of heterogeneous firms in new trade theory and using a firm‐level dataset, statistical analyses identify key differences between firms investing in foreign economies and those that do not. A binary choice model quantifies the relationship between firm characteristics and the decision to engage in foreign investment. Size and – less strongly – productivity are greater for multinationals relative to domestic firms. Furthermore, European multinationals are characterised by a larger debt to equity ratio and show lower labour and input costs.     

Dragon Head Enterprises and the State of Agribusiness in China

This paper examines the political trajectory of agribusiness firms called ‘dragon head enterprises’ in China's ongoing agri‐food transformations. It starts from the premise that state and private elites in China are working together to consolidate a robust domestic agribusiness sector, as both an arena for national‐level rural and economic development, and a new frontier for access to resources and markets abroad. Through analyses of policy documents, market share data and ethnographic materials, I explore the organization and operation of dragon heads in the pork sector. My findings reveal that agribusiness development in China's pork sector is largely domestic, has a mixed state–private form and tends to marginalize the foreign‐based TNCs that have been the most powerful actors in the global agri‐food system to date. I argue that China is not only a destination for ‘external’ transnational capital, but also a site of agribusiness development in its own right. This has important implications for analysing capitalist transformations and for engaging global agri‐food politics.     

南方集体林经营方案研究综述

根据中国的研究现状,对南方集体林经营方案的内涵、方案的编制、方案的实施及执行效益评估、方案的相关制度等研究文献进行了综合分析。结果表明:理论研究严重滞后于森林经营实践,急需将南方集体林经营方案的编制与实施看作一项系统工程,将与之有关的各项因素都纳入,开展综合性、系统性的交叉研究。     

农业及涉农产业直接投资的决定因素与政策效应——基于企业调查的描述性分析

本文主要基于 42家农业企业的实地调查 ,对农业企业投资经营环境的评价、对各项优惠政策的反映、政策要求、企业面临的主要问题与制约因素等进行实证分析。结果显示 :农产品市场规模及其潜力、消费者对产品认同度、充沛的劳动力资源是促使农业及涉农产业直接投资的重要决定因素 ;而当地投资伙伴获得困难、融资困难、行政性收费过重、交通、供电等基础设施相对薄弱等可能抑制农业企业发展 ;税收优惠、信用担保、用地便利及优惠、财政贴息仍然是非常有效的农业引资手段 ;资金、高层次人才问题是困扰农业企业的主要问题 ,民资企业面临的问题更为严重。     

Attaining Sustainable Farm Management Systems in Semi-Arid Areas in Kenya: Few Technical Options,Many Policy Challenges

Soils in arid and semi-arid lands (ASAL) are fragile, low in fertility and susceptible to erosion and leaching. To address these problems, activities were implemented in 1998–2003 to identify current problems, and design, test, implement, demonstrate and disseminate improved, integrated soil fertility management techniques. Current soil fertility management results in slightly negative nutrient balances, especially for phosphorus and potassium. Recycling of nutrients through crop residues and animal manure is inefficient, with evidently high losses. Due to the relatively high price of fertilisers and the high risks of crop failure, use of mineral fertilisers is restricted to market-oriented farms with access to irrigation facilities. Of the total farm household population, 35–85% lives below the poverty line. Applying higher rates of Farm Yard Manure (FYM) and/or fertilisers is unattractive and risky. Combinations of FYM and fertilisers give better financial returns than either of the two alone. Where irrigation is available, farmers adopt innovative farming systems that include higher application of mineral and organic fertilisers, and result in higher and more stable yields and higher financial returns. A set of specific policy measures for the semi-arid areas were identified to arrive at necessary changes in the economic environment, leading to a wider range of financially attractive technology options for smallholders.     

国有农业企业经营者激励机制研究—基于委托代理模型的分析

针对国有农业企业的特质,本文构建了国有农业企业经营者的多任务委托代理模型.分析了国有农业企业经营者的激励要素及关联关系.研究发现,当国有农业企业经营者在赢利性目标和社会性目标方面的努力产生不同的业绩信息且前者业绩信息对后者业绩信息具有极大影响时,经营者具有独立的多项工作任务且工作任务努力的激励成本之间相互独立,那么激励相容条件下赢利性工作任务的最优业绩报酬受到社会性工作上努力的边际收益的影响;最优业绩报酬是绝对风险规避度、边际激励成本变化率和可观测变量方差的递减函数.     

我国财政支持农业产业化对农民收入增长影响的贡献分析

本文基于我国1988-2004年有关农业经济的经验数据，计量分析了我国财政支持农业产业化对农民收入增长的贡献。研究结果表明，我国财政投资农业产业化对农民收入增长有着显著的促进作用。其中，农民人均收入、农业资本投入、农业从业人数和农业综合开发产业化经营项目财政资金投入这几个变量之间只存在单向的因果关系；1993年前后农业投资和农业劳动投入对农民收入的弹性系数均较小，而农业产业化投资在此年前后发生了非常显著的变化，从0．1314增加到0．4491。这表明我国应进一步加强财政对农业产业化的支持力度，调整支农资金支出区域结构，促使农业产业化经营水平向更高层次迈进。     

龙头企业与农户订单安排与履约:理论和来自浙江企业的实证分析

本文首先建立了一个企业与农户订单履约的博弈模型,提出了订单安排和订单履约关系的理论假设,然后运用浙江省农业龙头企业的调查数据进行了实证研究。实证结果表明,实行“保底收购、随行就市”的订单履约率要明显高于其他价格条款的订单履约率;对农户专门投入有要求和有奖励措施条款的订单履约率要高于没有这些条款的订单履约率;订单组织形式、订单类型、订单期限以及赔偿条款对订单的履约率有影响,但影响不显著。     

The Potential for Cross‐Compliance in Canadian Agricultural Policy: Linking Environmental Goals with Business Risk Management Programs

Environmental cross‐compliance links agricultural program payments to producer commitments to achieve agri‐environmental policy goals. The objective of this study is to determine the feasibility of using cross‐compliance to achieve environmental goals in a Canadian policy context. While Canadian policy makers have flirted with cross‐compliance, with the exception of phosphorus regulations for Quebec hog farms, they have never adopted this approach. The potential for effective cross‐compliance depends on producer participation, producer compliance with regulations, environmental performance, and overall welfare implications. This study reviews the application of cross‐compliance in the United States and EU with regard to the potential application to Canadian agriculture. Policy options are considered which link current business risk management (BRM) programs to alternative environmental regulations (wildlife habitat preservation, nutrient management plans, and beneficial management practices for nutrient management). In general, individual Canadian agricultural support program do not provide sufficient incentives for farmers to participate in cross‐compliance. However, if support programs are combined, it is better to link programs that redistribute income with environmental programs than to link agriculture programs that already address specific market failures.     

Accumulation by Dispossession and Socio‐Environmental Conflicts Caused by the Expansion of Agribusiness in Argentina

Drawing upon the concept of ‘accumulation by dispossession’, this paper analyses the expansion of agrarian capital in Argentina. A case study illustrates the social and environmental impacts of the expansion of agribusiness in central Argentina and the social struggle – both rural and urban – that has arisen to resist this process. Although government policies after the 2001 crisis differ in many ways from those of the 1990s, current agrarian policies are not significantly distinct from those followed during the pre‐crisis neoliberal period. Rather than ‘post‐neoliberal’, the new model could thus be better described as ‘neo‐extractivist’. With the connivance of the state, agribusiness is producing the largest‐ever transformation of natural capital into economic capital in the history of the region. Moreover, the latest policy developments suggest that Argentina is on the threshold of a new and deeper stage of agrarian capital expansion and wealth concentration, this time operating at a much larger scale.     

吉林省农业产业化龙头企业技术推广的实证分析

随着政府作为技术推广主体功能的弱化，农业产业化龙头企业作为技术推广主体发挥的作用越来越强，对拉动农村经济发展具有不可替代的作用。本文通过对吉林省农业产业化龙头企业技术推广发展过程的回顾，介绍了吉林省龙头企业技术推广的主要模式，分析了影响吉林省农业产业化龙头企业技术推广的主要因素，提出了从农户利益出发推广实用技术、扩大企业规模、塑造企业形象等一系列具体对策和措施。