The objective of this article is to determine the efficiency of the poultry farm in Bangladesh and to assess the influence of contract farming system, using a data envelopment analysis. Seventy-five commercial poultry farms (25 and 50 independent and contract farms, respectively) were randomly selected. The results reveal that efficiency scores vary across sample farms. To explain some of these variations, the efficiency scores were regressed on some human capital variables and farming system using a Tobit model. The study also estimates elasticities to provide the information on the magnitude of the influence of variables on Technical Efficiency (TE), Allocative Efficiency (AE) and Economic Efficiency (EE). The results show that the contracting system is positively and significantly related to the farm's TE, AE and EE. This is expected because under contractual agreement, in order to obtain sufficient supplies of the right quality of poultry meat at the right time, the company provides technical know how assistance through company's recruited supervisor, production inputs and services, and production credit along with intensive supervision, which in turn improves farm efficiency. Thus, by receiving technical know how contract farmers have gained more knowledge on their resource and practices, which enables them to use resources more efficiently. Empirical results can provide crucial information to policy makers that improve poultry farm efficiency. 相似文献
This article aims to analyse whether transport connectivity affects trade flows using a spatial approach. We consider first-order contiguity and incorporate logistics network structure dependence in a spatial autoregressive model. The results provide evidence regarding the role of the location of logistics platforms for satisfying existing demand for transport structure in Spain. 相似文献
ABSTRACT Despite rapid digital development in the past two decades, the remote parts of Australia still experience disadvantages with the adoption and diffusion of digital technology. As the adoption of information and communication technology continues to increase at a significant rate, investigating the underlying factors of the digital divide in general and also in the context of social exclusion in Australia is pertinent. The current study fills the gap in the existing body of knowledge by exploring the effect of socio-demographic factors and remoteness on the digital divide landscape with a country-specific focus on Australia. Using state-wide longitudinal data covering the 1998–2015 period within the panel data estimation framework, this study finds that digital divide is significantly associated with socio-demographic factors and remoteness in Australia. Moreover, the findings affirm that in addition to telecommunication infrastructure development, policymakers should also underscore socio-demographic factors in shaping digital inclusion strategies. 相似文献
This study examines the impact of the regulatory changes introduced by the Federal Financial Institutions Examination Council (FFIEC) in 1999 and by the Securities and Exchange Commission and FFIEC in 2001 on the income smoothing approaches and mechanisms employed by the United States (US) banking industry. We find that the relationship between previous quarter charge-offs and current quarter recoveries that was prevalent in the 1990’s to be insignificant for homogeneous loans but for heterogeneous loans the relationship became significant in the years following the regulatory changes. Recoveries are positively and significantly associated with the surprise net interest margin or return on assets which implies recoveries are primarily determined by the economic realities of the charged-off loans. The regulatory changes have strengthened the relationship between current quarter recoveries from heterogeneous loans and current quarter charge-offs but for homogeneous loans this relationship weakened insignificantly. The new regulations reduced the surprise gross loan charge-offs suggesting that the enforcement improved the accuracy of the provision as a predictor of next quarter’s gross loan charge-offs.
Several studies conclude that dividend changes that are seemingly predictable on a calendar basis attract abnormal returns. We study the abnormal returns associated with consecutive dividend increases to understand this puzzle. We use regression techniques to study the relation between the number of consecutive dividend increases and the abnormal return associated with the events. Further, we study whether this relation is sensitive to firm characteristics by partitioning the regressions by the characteristics that influence the abnormal return. Our results show that the abnormal returns associated with consecutive dividend increases decline at a diminishing rate and they do not disappear, consistent with the puzzle. In addition, the decline in returns is slowest among firms that are unprofitable, small, or have high payouts. These findings suggest that the abnormal returns persist because firms that are not expected to continue a dividend-increase streak based on their characteristics do so, surprising the market and perpetuating the abnormal return. 相似文献
Natural gas is the key non-renewable source of energy for a low-carbon economy. The research applies heterogeneous panel techniques to investigate the impact of natural gas consumption on economic growth across a panel of top 15 natural gas consumers of the developing world. We establish long-run dynamics with cross-sectional dependence and heterogeneity across the sample countries. The long-run output elasticities suggest that the natural gas consumption and trade variables have significant positive effect on the output in a panel of developing economies. Further, we establish feedback relationship among gas consumption, output and trade in the short-run. Given the significance of natural gas as the low-emission source of energy, we suggest governments and policy advisers of these major natural gas consumers to focus on developing pipeline infrastructure for adequate supply, reforming natural gas sector with a competitive price structure to combat excess demand in individual natural gas market. With trade integration, majority of these countries need to incorporate these initiatives to improve the technologies such as combined cycle power plant technology and value-added chemical production technology to achieve sustainable economic growth. 相似文献
Islamic banks should share their profits and losses with their customers through equity financing but most of their assets are mark-up financing, which resembles loans. Theoretically, one of the reasons is Islamic banks operate in poor contracting environments where equity financing is very risky. Using fixed-effects models, we examine whether better contracting environments induce Islamic banks to shift from mark-up to equity financing. We find no evidence that contracting environments do, which means debt-like instruments will continue dominating Islamic banks’ assets in the near future. 相似文献
This paper analyzes the association between two firm performance measures: stock market returns and relative technical efficiency. Using linear programming techniques (Data Envelopment Analysis and Free Disposal Hull), technical efficiencies are calculated for a panel of eleven US airlines observed quarterly from 1970–1990. A relationship, between efficiency news in a quarter and stock market performance in the following two months, is found. A risky arbitrage portfolio strategy, of buying firms with the most positive efficiency news and short-selling those with the worst news during this time frame, results in zero beta risk yet yields annual returns of 17% and 18% for the two methodologies. 相似文献
This study uses a machine learning approach to identify and predict factors which influence citation impacts across five Pacific Basin journals: Abacus, Accounting & Finance, Australian Journal of Management, Australian Accounting Review and the Pacific Accounting Review from 2008 to 2018. The machine learning results indicate that citation impact is mostly influenced by: length of a journal article; the field of research (particularly environmental accounting), sample size; whether the sample is local or international; choice of research method (e.g., archival vs survey/interview); academic rank of the first author; institutional status of the first author; and number of authors of the article. The results may be useful for predicting future trends in citation impact as well as providing strategies for authors and editors to improve citation impact. 相似文献