No 3/2017, September | Agris on-line Papers in Economics and Informatics

Drivers of ROE and ROA in the Czech Food Processing Industry in the Context of Market Concentration

Ivana Blažková Ondřej Dvouletý DOI: 10.7160/aol.2017.090301
No 3/2017, September
pp. 3 - 13

ABSTRACT

The paper investigates the effects of sectoral determinants on profitability of the Czech food processing industry over the period of years 2003-2014. Large micro-level sample (N = 10,509) for 12 years and across 9 food subsectors in the Czech Republic was utilized to create a sectoral panel dataset, which was used the empirical analysis. As for the methods, regression models with fixed effects were employed. Sectoral profitability served as the dependent variable in regressions and it was operationalized by two variables, i.e. ROA and ROE. Both profitability indicators revealed the same influence of investigated determinants. Obtained results reported positive influence of higher market concentration on sectoral profitability, and also the increase of productivity was associated with the increase of ROA and ROE. It was confirmed that high indebtedness affects the profitability negatively. Contrary to the expectations, the effect of the import penetration on the profitability was not proved.

KEYWORDS

Industry profitability, return on assets (ROA), return on equity (ROE), market concentration, regression analysis, the Czech food industry.

VIEW MORE PDF (.pdf, 397.12 KB)

Assessing the Agricultural Competitive Advantage by the RTA index: A Case Study in Vietnam

Viet Van Hoang Khai Tien Tran Binh Van Tu DOI: 10.7160/aol.2017.090302
No 3/2017, September
pp. 15 - 26

ABSTRACT

This study aims to measure static and dynamic competitive advantages of Vietnam’s agricultural sectors by employing the relative trade advantage index (RTA). The dynamics of RTA indicators are tested in three ways: OLS method, Markov matrix, and trend analysis. The results show that Vietnam, generally, obtains the strong competitive advantages in crop sectors and fishery sectors whilst it incurs the weak competitive advantages in livestock sectors and processed food sectors. The regression model suggests that the country has the convergent pattern in agricultural competitive advantages, the Markov matrix proves the relative stabilities of the RTA values, and the trend analysis indicates that Vietnam obtains the RTA gaining trends in 12 agricultural sectors while it has the RTA losing trends in 28 agricultural sectors.

KEYWORDS

Vietnam, agriculture trade, competitive advantage, RTA, dynamics.

VIEW MORE PDF (.pdf, 433.59 KB)

The Export Competitiveness of Global Cocoa Traders

Atilla Jambor Andrea Timea Toth Domonkos Koroshegyi DOI: 10.7160/aol.2017.090303
No 3/2017, September
pp. 27 - 37

ABSTRACT

Export competitiveness is an important indicator in the analysis of international trade flow, however, in empirical studies on agriculture it is often neglected. In this article we aim to analyse export competitiveness of global cocoa producers and to test the stability of the Balassa index as well as to identify the determinants behind different country performances. On a product basis, we have not found any article analyzing the competitiveness of cocoa in international trade. Our paper draws global cocoa trade data from the period 1992 to 2015. Results suggest that global cocoa trade is highly concentrated with Cote d’Ivoire, Ghana and Indonesia obtaining the highest comparative advantages in 1992-2015. However, duration and stability tests indicate that trade advantages have weakened for the majority of the countries concerned.

KEYWORDS

Export competitiveness, cocoa trade, determinants, development.

VIEW MORE PDF (.pdf, 523.12 KB)

Business Process Modelling Languages

František Kožíšek Ivan Vrana DOI: 10.7160/aol.2017.090304
No 3/2017, September
pp. 39 - 49

ABSTRACT

This paper summarizes the current knowledge of business process modelling languages, which is increasingly important also in the agri-food industry. It describes the history of business process modelling, currently mostly used alternatives – UML, BPMN, EPC and recaps their strengths and features in which they outperform the others. As demonstrated all three notations can adequately model business processes. They do however differ in some specific features. In some aspects, each of the languages always outperforms the others. Important is that except of some general objective features where the languages differ, there is also a lot of subjective perception of how the single notations perform.

KEYWORDS

Business Process Modelling, UML, BPMN, EPC.

VIEW MORE PDF (.pdf, 1.99 MB)

Assessing Interdependencies Between Food and Energy Prices: The Case of Biodiesel in Germany

Zuzana Lajdová Jaroslav Kapusta Peter Bielik DOI: 10.7160/aol.2017.090305
No 3/2017, September
pp. 51 - 59

ABSTRACT

The paper aims to analyse the relationship between energy prices (biodiesel, crude oil) and food commodities - vegetable oils used also as feedstock for biodiesel production. The econometric technique of price transmission, such as unit root test, cointegration test and vector error correction model, is applied to assess the interdependencies between energy prices and vegetable oil prices in Germany. Results suggest close price linkages between prices of vegetable oils and biodiesel and confirm that the vegetable oil prices drive the price dynamics of biodiesel. However, the simultaneous relationship is only revealed between biodiesel and soybean oil prices. The increase in crude oil prices is found to lead to an upward trend in the vegetable oils used for biodiesel production, thus influencing biodiesel prices as well.

KEYWORDS

Biodiesel, crude oil, food, Germany, price transmission.

VIEW MORE PDF (.pdf, 1.06 MB)

Metadata Formats for Data Sharing in Science Support Systems

Michal Stočes Pavel Šimek Jan Pavlík DOI: 10.7160/aol.2017.090306
No 3/2017, September
pp. 61 - 69

ABSTRACT

The article deals with analysis of model data formats suitable for metadata description of digital objects (artifacts) occurring in scientific social network applications. The emphasis of analyzes is on the issue of a metadata description of artefact links to other artifacts and artifact links to individuals. The examined metadata formats include LOM (Learning Objects Metadata), MODS (Metadata Object Description Schema) and DC (Dublin Core). The article also deals with dictionaries of controlled descriptors used to refine and unify the metadata description for agricultural research.The article presents part of the results of author ’s dissertation thesis.

KEYWORDS

Metadata, application profile, social network service for scientists, data sharing, LOM, MODS, DC, AGROVOC.

VIEW MORE PDF (.pdf, 931.59 KB)

Economic Value of Information Systems in Agriculture: Cohesion and Coupling of Information Elements

Jan Tyrychtr DOI: 10.7160/aol.2017.090307
No 3/2017, September
pp. 71 - 79

ABSTRACT

Evaluating the economics of information systems is a difficult task. In addition to classical approaches to the economic evaluation of information systems, attention is paid to individual processes and workflows. The quality of information systems functionality is based on a quality workflow processes. A poorly designed workflow of the information system leads to a number of errors and problems in exchanging information within the system. The lower the error rate and the higher the efficiency of individual activities, the higher the economic value of the information system and, as the case may be, of other analytical, expert or decision systems in the organisation. In this paper, known principles of cohesion and coupling are used. The selected real process is evaluated within the framework of the agricultural information system operated by the Ministry of Agriculture of the Czech Republic. In the article is created a design the structure of information elements of the modelled workflow, measured cohesion and coupling and compared with two alternatives.

KEYWORDS

Workflow process, information systems, cohesion, evaluating process, agriculture.

VIEW MORE PDF (.pdf, 504.23 KB)

Economic Aspects of Food Security in Ukrainian Meat and Milk Clusters

Natalia Vasylieva DOI: 10.7160/aol.2017.090308
No 3/2017, September
pp. 81 - 92

ABSTRACT

The goal of the article was to accomplish mathematical estimations of the misbalances and calculate available reserves in providing food security by meat and milk. This issue has considerable economic and social values that imply maintaining agrarians’ welfare and people’s health. The disproportions in meat and milk clusters have been analyzed by means of Lorenz curves and inequality indicators – Hoover and Theil indices, Gini coefficient, and also 20:20 Ratio. It has been grounded that increasing animal productivity and wholesale prices for meat and milk, as well as reducing their retail prices and raising solvency of population would be the essential reserves in supporting food security in the agricultural clusters. The proposed model of defining interregional clusters has made possible to identify the priority options of providing food security and balancing meat and milk supply and demand. All the offered developments and recommendations have been verified at Ukrainian meat and milk clusters.

KEYWORDS

Food security; meat and milk clusters; indicators of misbalances; production and consumption; productivity and profitability; prices and solvency; cluster model.

VIEW MORE PDF (.pdf, 952.81 KB)