The firm size,farm size,and transaction costs: the case of hazelnut farms in Turkey

This study analyzes the effects of transaction costs on the size of hazelnut farms in Turkey. The study finds that higher land slope and higher variance of rain, as transaction‐cost‐increasing natural effects, lead to smaller hazelnut land holdings. High slope and weather variation can increase the costs of monitoring the laborers, make moving inputs or output up and down harder, limit the use of machinery, and reduce contractual performance of labor contracts. For farm production functions, land is a complex input with measurable interactions with nature. Contrary to common production theory approaches that take natural properties of land as given, the study develops a production function that incorporates natural properties, such as, slope and rain variance. The study utilizes two separate data sets for the estimations. The first data set explores the characteristics of hazelnut farmers, while the second one analyzes the regional characteristics of hazelnut farms.     

Factors Affecting Technical Efficiency among Coffee Farmers in Côte d’Ivoire: Evidence from the Centre West Region

This paper presents measures of technical efficiency for a sample of 81 peasant farmers in the low‐income region of Côte d’Ivoire. DEA techniques were used to compute farm‐level technical efficiency (TE) measures. The analysis reveals average levels of technical efficiency equal to 36 per cent and 47 per cent respectively for the CCR ( Charnes et al., 1978 ) and BCC ( Banker et al., 1984 ) models. These results suggest that substantial gains in output and/or decreases in cost can be attained given existing technology. In a second step analysis, two‐limit Tobit regression techniques were used to examine the relationship between TE and various farm/farmer characteristics. From a policy point of view, an important conclusion stemming from the analysis of our sample is that family size, membership to farmer's club or association and the origin of the farmer are the variables found to be most promising for action. The analysis suggests that policymakers should foster the development of the formal farmers’ club or association by building the capacity of the farmers. Our analysis also supports the argument for public sector involvement in the provision of information on labour force management to peasant farmers as a means to improve efficiency levels, and thus household incomes.     

Portfolio diversification: the influence of herding,status-quo bias,and the gambler’s fallacy

This experimental study examines the influence of herding [following the majority of fellow gamblers or the most successful gambler (guru)], status-quo bias, and the gambler’s fallacy on diversification behavior. We find that neither herding nor status-quo bias contributes significantly to non-optimal portfolio choices. The gambler’s fallacy, however, plays an important role in these decisions. Many subjects appear to find patterns in a history of random events and then use these “patterns” to infer the sequence of future events. The gambler’s fallacy is significantly responsible for the fact that the optimal structure of a portfolio is considered in only 37.7% of all choices made by an investor.     

Manipulation of profits in Italian publicly-funded healthcare trusts

ABSTRACT

This paper examines earnings management in state-funded Italian healthcare trusts. Italy is unique in requiring trusts to have balanced budgets by law. Small negative and positive deviations from a balanced budget had quite different consequences. The authors found no evidence of accounting manipulation when trusts posted small losses. However, trusts were found to manipulate discretionary accruals, provisions and non-operating expenses to reduce small positive deviations from zero-profit.     

Foreign capital inflows,domestic savings and the price of political stability in the sudan: Weisskopf revisited

This paper reworks Weisskopf's estimates of the effect of foreign capital inflow on domestic savings for a later time period. The Sudan is presented as an example of a public sector dominated economy, dependent on one major export crop and politically unstable. While Weisskopf's savings function had an indication of a negative relationship between public sector savings and official foreign capital inflow, problems of collinearity between the independent variables cast doubt on its utility for analysis of economies dependent on limited primary exports. The negative relationship between public sector savings and official is explained in terms of the expansion of the state's bureaucracy and military.     

‘When is trade more valuable than aid?’: Revisited

This paper argues that, in the comparison of ‘aid vs trade’ options for developing countries, the estimation of the total impact of aid or trade (‘the indirect effects’) is more important than the evaluation of the direct effects of aid or trade. This argument arises from a critical examination of the prevailing approach to the evaluation of the worth of ‘aid or trade’. Particular references is made to the experience of the Sudan.     

To Help or Not to Help? The Good Samaritan Effect and the Love of Money on Helping Behavior

This research tests a model of employee helping behavior (a component of Organizational Citizenship Behavior, OCB) that involves a direct path (Intrinsic Motives → Helping Behavior, the Good Samaritan Effect) and an indirect path (the Love of Money → Extrinsic Motives → Helping Behavior). Results for the full sample supported the Good Samaritan Effect. Further, the love of money was positively related to extrinsic motives that were negatively related with helping behavior. We tested the model across four cultures (the USA., Taiwan, Poland, and Egypt). The Good Samaritan Effect was significant for all four countries. For the indirect path, the first part was significant for all countries, except Egypt, whereas the second part was significant for Poland only. For Poland, the indirect path was significant and positive. The love of money may cause one to help in one culture (Poland) but not to help in others. Results were discussed in the light of ethical decision making.

On asymptotic properties of an estimate of a functional of a probability density

Abstract

Bhattacharyya & Roussas (1969) proposed to estimate the functional Δ = ∫ _?∞/^∞ f ²(x)dx by , where is a kernel estimate of the probability density f(x). Schuster (1974) proposed, alternatively, to estimate Δ by , where F _n (x) is the sample distribution function, and showed that the two estimates attain the same rate of strong convergence to Δ. In this note, two large sample properties of are presented, first strong convergence of to Δ is established under less assumptions than those of Schuster (1974), and second the asymptotic normality of established.     

Dynamics of Islamic Financing in Malaysia: Causality and Innovation Accounting

This article addresses the underresearched issues of marketing challenges and business strategies/models for emerging markets. It suggests that firms need to fundamentally rethink their business models and marketing policies for emerging markets. Although strategies focusing on product affordability and availability are necessary, identification of niche market segments and making clear choices about which segments to pursue, with what value propositions will promote great success. Moreover, strategic flexibility, local sourcing, engagement of nontraditional partners, and local entrepreneurship will be important factors for successful pursuit of the emerging markets.