BEEF PRODUCTION FUNCTIONS FROM SAMPLE FARMS IN NOVA SCOTIA*

The beef production function of different enterprises has been estimated for the sample farms in Nova Scotia. The returns to scale and marginal productivity of resources are derived from the production functions. It indicates decreasing returns to scale and the low marginal productivities of grain, labor, and variable costs for all enterprises. Grain and hay are the most important feeds for beef production. Many beef farms in the province produce more roughage than grain. The marginal rate of substitution of hay for grain is diminishing. Beef farmers can produce equal amounts of product with different combinations of the two feeds. The results provide the possibility of finding the least-cost combination of inputs. This study has specified the optimum input levels under different prices of inputs. It will help beef farmers to allocate their resources properly in order to maximize profits. Les fonctions de production de boeuf de différentes entreprises ont été eslimées à partir de fermes selectionées en Nouvelle-Ecosse. Les économies ?échelle et la productivté marginale des ressources sont dérivées des fonctions de production. On retrouve dans toutes les entreprises des économies ?échelle décroissantes et une faille productivity marginale du grain, du travail et des couts variables. Le grain el le foin constituent la plus importanle source ?alimentation dans la production de boeuf. Plusieurs fermes ?élevage de boef produisent plus de fourrage que de grain. Le laux marginal de substitution du foin pour le grain va en diminuant. Les éleveurs de boeuf peuvent produire des quantités egales par des combinaisons différentes de ces deux aliments. Les résultats ptrmettent de déterminer la combinaison la moins coûteuse pour la consommation des aliments, Cette étude a détérmine les niveaux optime de consommation selon les différents prix des aliments. Elle aidera les producteurs de boeuf à distribuer adéquatement les aliments afin de maximiser les profits.     

Can Management Turnover Restore the Financial Statement Credibility of Restating Firms? Further Evidence

This paper investigates the association between management turnover following financial restatements and the probability of subsequent restatements. We find that restating firms that replace management (CEO and/or CFO) are more likely to restate their financial statements again. We also find that subsequent restatements are mainly attributable to the new management. Overall, our results suggest that management turnover following restatements may not be an effective mechanism to remediate financial restatements, but the change to a new management results in a greater possibility of lower earnings quality (i.e., higher probability of subsequent financial restatements and accruals‐based earnings management). Our study supports prior literature's findings that the change in the top management leads to organizational instability and higher accounting information risk. Our findings have implications for internal decisionmaking with regard to top executive replacement.     

Oil risk contracts,business conduct and performance patterns: Data panel analysis

Using the economic and financial performance data of international companies for the exploration, and exploration–extraction (E&E) of oil, as well as the patterns of institutional situation and orientation with the government market and national oil companies or NOCs that receive project offers, we analyze the institutional development and behavior patterns by type of E&E contract, following the strategic actor approach, or the so-called agency theory. Additionally, in light of Mexico's energy reform being implemented between 2015 and 2019, we analyzed the types of license contracts compared to those for production and shared profit. Subsequently, it was determined-through panel data methods in the analysis of 17 companies between 2005 and 2015-that global companies present bigger yields and commitments compared to specialized companies, confirmed by their net income and returns on equity or ROE.     

The relationship between corporate governance and foreign ownership of the banks in developing countries

The aim of this paper is to determine the effect of corporate governance on foreign ownership of the banks. Within this context, annual data of 65 developing countries for the periods between 2004 and 2013 was analyzed. In addition to this situation, 7 explanatory variables were used in this study in order to achieve this objective. As a result of the analysis, it was identified that there is a strong relationship between operations of foreign banks and governance levels of the countries. In this regard, it was determined that the factors of corruption, political stability, rule of law and flexibility in legal regulations affect foreign bank operations. Moreover, it was also analyzed that foreign bank operations are stronger in the countries that have low poverty, high political stability and efficient legal infrastructure. On the other hand, it was defined that strict legal regulation affects foreign bank operations negatively which shows that foreign banks prefer to enter into the countries that have flexible legal regulations. This study gives essential information to developing countries about the factors that affect the decisions of foreign banks in order to enter into a developing country. Therefore, by considering the results of this study, the authorities of these countries can have a chance to take necessary actions so as to attract foreign banks.     

Oblivious equilibrium for concentrated industries

This article explores the application of oblivious equilibrium (OE) to highly concentrated markets. We define a natural extended notion of OE, called partially oblivious equilibrium (POE), that allows for there to be a set of strategically important firms (the “dominant” firms), whose firm states are always monitored by every other firm in the market. We perform computational experiments that explore the characteristics of POE, OE, and Markov perfect equilibrium (MPE), and find that POE generally performs well in highly concentrated markets. We also derive error bounds for evaluating the performance of POE for cases where MPE cannot be computed.     

Systemic justice and burnout: A multilevel model

With the aim of extending organisational justice research to embrace significant and enduring aspects of the workplace context, this study examines organisational culture and human resource management (HRM) as constitutive dimensions of systemic justice and relates them to employee health. Bridging organisational justice, HRM, organisational culture, and occupational health research, we advance and test a multilevel model relating systemic justice to burnout. Data collected from 60 organisations; 89 employee groups; and 1,976 employees provide support for the hypothesised relationships between justice‐oriented culture, in terms of organisational values and group culture, and justice‐oriented HRM. In turn, justice‐oriented HRM related directly to employee burnout and indirectly through employee perceived job control and supervisor social support.     

Are impatient farmers more risk-averse? Evidence from a lab-in-the-field experiment in rural Uganda

Based on data from a field-experiment in rural Uganda, we show that impatient farmers are more risk-averse than patient farmers. We relied on a simplified version of the Convex Time Budget (CTB) method to elicit farmers’ time preferences and on an independent method for eliciting their risk-preferences. We report two important findings. First, we show that our simplified CTB method applied to farmers from Uganda replicates the key findings of Andreoni and Sprenger’s lab experiments that involved student subjects. Second, we establish the existence of a negative correlation between risk tolerance and impatience, based on two independent measures.