Agricultural Finance Review最新文献_第9页

The role of nontraditional lending for socially disadvantaged and financially stressed farmers 非传统贷款对社会弱势和经济压力大的农民的作用

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-29 DOI: 10.1108/afr-06-2021-0072

Tia M. McDonald, Jonathan Law, A. Giri, Dipak Subedi

{"title":"The role of nontraditional lending for socially disadvantaged and financially stressed farmers","authors":"Tia M. McDonald, Jonathan Law, A. Giri, Dipak Subedi","doi":"10.1108/afr-06-2021-0072","DOIUrl":"https://doi.org/10.1108/afr-06-2021-0072","url":null,"abstract":"PurposeIn recent years, socially disadvantaged farmers and ranchers have increased their usage of nontraditional lending nearly converging to levels of usage observed for nonsocially disadvantaged groups. The purpose of this research is to explore explanations for this trend in lending utilization by socially disadvantaged farmers and ranchers by examining factors that influence credit usage and credit choice.Design/methodology/approachA multinomial logit is used to estimate the probability of loan choice given characteristics of the producer and farm.FindingsWhile not a causal analysis, the results suggest that farm characteristics, which differ between socially disadvantaged and nonsocially disadvantaged producers, are associated with a lower likelihood of credit usage by an average socially disadvantaged farmer. For those that have loans, socially disadvantaged producers exhibit higher debt-to-asset ratios and lower current ratios, characteristics that are typically associated with higher than observed probability of usage of loans other than nontraditional. Socially disadvantaged producers also have lower value of assets which is associated with a higher probability of nontraditional loan usage.Originality/valueThis research is among the first to examine loan usage of socially disadvantaged producers using nationally representative data.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49035180","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

The impact of credit on the technical efficiency of food crop producing smallholder farmers in Ethiopia 信贷对埃塞俄比亚粮食作物生产小农户技术效率的影响

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-28 DOI: 10.1108/afr-08-2021-0108

Melkamu Girma Koricho, M. H. Ahmed

引用次数: 4

Assessing risk attitudes and time preferences on the rural–urban interface of Bengaluru, India 评估印度班加罗尔农村-城市界面的风险态度和时间偏好

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-25 DOI: 10.1108/afr-04-2021-0040

J. Wegmann, Daniel Hermann, O. Musshoff

{"title":"Assessing risk attitudes and time preferences on the rural–urban interface of Bengaluru, India","authors":"J. Wegmann, Daniel Hermann, O. Musshoff","doi":"10.1108/afr-04-2021-0040","DOIUrl":"https://doi.org/10.1108/afr-04-2021-0040","url":null,"abstract":"PurposeUrbanization is a main driver of the transformation from agricultural-based economies to service-based economies. At the same time, urbanization might also alter preferences and attitudes such as risk and time preferences that contribute to economic growth and foster this transition. To study the effect of urbanization, few studies have compared individual time or risk preferences in rural and urban settings, reporting mixed results. This study analyses how risk and time preferences alter along the rural–urban interface and assesses the correlation of socio-economic, socio-cultural and demographic characteristics with these preferences. Using such an approach provides insights how preferences are altered in areas of transition as the rural–urban interface mirrors different stages of urbanization.Design/methodology/approachUsing experimental approaches, risk attitudes and time preferences of 1,117 agricultural and non-agricultural households were elicited along the rural–urban interface of the fast-developing Indian megacity Bengaluru in 2016/17. The study reports joint estimations of risk and time preferences and discusses the influence of urbanization on these preferences.FindingsResults show that households are on average slightly risk-averse and highly impatient. The results also indicate a decline in discount rates towards rural areas while risk preferences do not considerably differ between those areas. This puzzling result may be explained by difference response of rural and urban areas to the Demonetization policy of the Indian government in 2016.Originality/valueThe research design compares jointly estimated risk and time preferences of agricultural and non-agricultural households of a rapidly urbanizing area in a low-medium income country.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47242906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Assessing the financial condition and accounts receivable risk among US farmer cooperatives 评估美国农民合作社的财务状况和应收账款风险

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-18 DOI: 10.1108/afr-06-2021-0080

Gerald Mashange, Brian C. Briggeman

{"title":"Assessing the financial condition and accounts receivable risk among US farmer cooperatives","authors":"Gerald Mashange, Brian C. Briggeman","doi":"10.1108/afr-06-2021-0080","DOIUrl":"https://doi.org/10.1108/afr-06-2021-0080","url":null,"abstract":"PurposeThe purpose of this paper is to examine the financial condition and ability of farmer cooperatives to withstand significant increases in bad debt expense.Design/methodology/approachA unique data set of farmer cooperative financial statements that spans from 1996 to 2019 is used to examine the changes in profitability, solvency, liquidity and accounts receivable risk. Also, a deterministic stress test model is designed to shock bad debt expense and the resulting write-off of accounts receivable for farmer cooperatives. The stress test provides insights to the resiliency of farmer cooperatives.FindingsResults find that farmer cooperatives are in a strong financial position, which has improved over time. The majority of farmer cooperatives are able to absorb a substantial increase in bad debt expense because of their sizable, retained earnings position. However, cooperatives that have significant profitability challenges do experience much larger losses, especially mixed farmer cooperatives (roughly equally amounts of grain and farm supply sales) and large cooperatives with more than $500 million in sales.Practical implicationsThe stress test results suggest farmer cooperative managers and boards of directors could re-examine their credit policies and consider extending additional credit. Also, cooperatives should consider monitoring and identifying an optimal accounts receivable to retained earnings ratio, which is similar to how banks examine their tier 1 capital ratios.Originality/valueThe value of this study is having data that allows for the examination of the financial condition of farmer cooperatives over time. Also, having current data means the accounts receivable stress test results are more relevant and timelier. This is important because these accounts receivable are primarily tied to crop input supplies, and farmer cooperatives are a significant market participant in the crop input supply market.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41686098","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Social ties, access to loans, and loan repayments in savings and loan associations: evidence from rural Tanzania 社会关系、获得贷款的途径以及储蓄和贷款协会的贷款偿还:来自坦桑尼亚农村的证据

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-12 DOI: 10.1108/afr-03-2021-0036

H. Pamuk, M. van Asseldonk, R. Ruben, Tumainiely Kweka, C. Wattel, J. Hella

{"title":"Social ties, access to loans, and loan repayments in savings and loan associations: evidence from rural Tanzania","authors":"H. Pamuk, M. van Asseldonk, R. Ruben, Tumainiely Kweka, C. Wattel, J. Hella","doi":"10.1108/afr-03-2021-0036","DOIUrl":"https://doi.org/10.1108/afr-03-2021-0036","url":null,"abstract":"PurposeInstitutional structures of rural savings and loan associations influence their performances. One of the guiding principles for defining clear group membership boundaries is by setting rules on who has access. Social ties is a prominent requirement for membership. The objective of the current study is to provide quantitative evidence on the role of social ties membership criteria for the performance of saving and loan associations.Design/methodology/approachA cross-sectional survey was conducted in July–August 2019 comprising 48 associations in 13 villages in the Iringa District of Tanzania. In the current study, the authors use two indicators to measure the social ties between members, namely social closed association (the association applies criteria to accept only members who are relatives, friends or from the same hamlet) and physical distance (the fraction of members from other villages).FindingsThe authors find that associations are diverse both in terms of social ties, physical distance and performance, even in a small homogeneous region like Iringa District. Providing loans more easily to members with social ties has a negative relationship with loan repayment rates. Associations applying the social closeness criteria experience higher default rates than those not applying. The default rates become even worse when the fraction of member members from other villages increases in the socially tied associations.Practical implicationsPhysically distant members are more likely to default as they perceive less social pressure in an association with socially tied members. Development practitioners and policy makers should integrate the potential implications.Originality/valueThe authors provide empirical evidence on the relevance of social ties on credit access and repayment in savings and loan associations, using a novel multi-level data on financial performance in the context of community-based finance organizations in rural areas.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48411592","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Using Bayesian Kriging for spatial smoothing of trends in non-normal yield densities 使用贝叶斯克里格对非正态产量密度趋势进行空间平滑

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-12 DOI: 10.1108/afr-04-2021-0042

Bart Niyibizi, B. Brorsen, Eunchun Park

引用次数: 1

The impact of supply chain disruptions on stock market returns during COVID-19 2019冠状病毒病期间供应链中断对股市回报的影响

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-08 DOI: 10.1108/afr-06-2021-0083

Hélène Flore Nguemgaing, A. Sant’Anna

{"title":"The impact of supply chain disruptions on stock market returns during COVID-19","authors":"Hélène Flore Nguemgaing, A. Sant’Anna","doi":"10.1108/afr-06-2021-0083","DOIUrl":"https://doi.org/10.1108/afr-06-2021-0083","url":null,"abstract":"PurposeHow has COVID-19 impacted meat processors' stock returns? The authors evaluate the effects of supply chain disruptions (e.g. lockdowns and COVID-19 incidences among workers) on stock market prices of meat processors during the COVID-19 pandemic.Design/methodology/approachThis study uses an event study approach to examine the disruptions from COVID-19 through events such as plant shutdowns, the pandemic announcement, lockdown dates and the first case of COVID-19 outbreaks in meat processing plants. The dataset includes S&P 500, Google Trends, financial beta and data collected for 14 US publicly traded meat processing companies.FindingsResults show that nationwide events (e.g. announcement of the pandemic) had no statistically significant impact on average abnormal returns of meat processing companies. Individually, however, firms experienced negative abnormal returns. COVID-19-related events in individual meat processing companies had a temporary negative abnormal return in the days prior to the event.Originality/valueThis study has two main contributions. First, the authors estimate the effect of COVID-19 on the returns of meat processors. Second, the authors use Google Trends to estimate the expected stock markets returns of meat processing companies. This study provides insight to investors on the behavior of industry returns from events such as outbreaks that affect human health.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45564081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Principal operators' farm risk attitudes in hot and cold climates 主要经营者在炎热和寒冷气候下的农场风险态度

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-07 DOI: 10.1108/afr-06-2021-0087

A. Wahdat, M. Gunderson

{"title":"Principal operators' farm risk attitudes in hot and cold climates","authors":"A. Wahdat, M. Gunderson","doi":"10.1108/afr-06-2021-0087","DOIUrl":"https://doi.org/10.1108/afr-06-2021-0087","url":null,"abstract":"PurposeThe study investigates whether there is an association between climate types and farm risk attitudes of principal operators.Design/methodology/approachThe study exploits temperature variation in the diverse climate types across the US and defines hot- and cold-climate states. Ordered logit and generalized ordered logit models are used to model principal operators' farm risk attitudes, which are measured on a Likert scale. The study uses two datasets. The first dataset is a 2017 survey of US large commercial producers (LCPs). The second dataset provides a Köppen-Geiger climate classification of the US at a spatial resolution of 5 arcmin for a 25-year period (1986–2010).FindingsThe study finds that principal operators in hot-climate states are 4–5% more likely to have a higher willingness to take farm risk compared to principal operators in cold-climate states.Research limitations/implicationsIt is likely that farm risk mitigation decisions differ between hot- and cold-climate states. For instance, the authors show that corn acres' enrollment in federal crop insurance and computers' usage for farm business are pursued more intensely in cold-climate states than in hot-climate states. A differentiation of farm risk attitude by hot- and cold-climate states may help agribusiness, the government and economists in their farm product offerings, farm risk management programs and agricultural finance models, respectively.Originality/valueBased on Köppen-Geiger climate classification, the study introduces hot- and cold-climate concepts to understand the relationship between climate types and principal operators' farm risk attitudes.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45764466","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Addressing the agricultural financing gap in Malaysia via Manihah Agricultural Financing Model: will Islamic banks go the extra mile? 通过马尼哈农业融资模式解决马来西亚农业融资缺口:伊斯兰银行会走得更远吗?

IF 1.6

Agricultural Finance Review Pub Date : 2021-10-01 DOI: 10.1108/afr-04-2021-0043

Nur Hasnida Abd Rahman, M. Z. Md Zabri, Mohammad M. Ali

{"title":"Addressing the agricultural financing gap in Malaysia via Manihah Agricultural Financing Model: will Islamic banks go the extra mile?","authors":"Nur Hasnida Abd Rahman, M. Z. Md Zabri, Mohammad M. Ali","doi":"10.1108/afr-04-2021-0043","DOIUrl":"https://doi.org/10.1108/afr-04-2021-0043","url":null,"abstract":"PurposeThis paper introduces the concept of manihah and develops a conceptual framework to address Malaysia's abandoned lands and food security issues.Design/methodology/approachThis is a conceptual paper based on insights from the existing literature and secondary data on food security, abandoned lands and manihah. Based on the prevailing gaps, the study proposes a conceptual framework of the Manihah Agricultural Financing Model to address Malaysia's abandoned land and food security issues.FindingsThe proposed model can address abandoned lands and food security issues due to the new incorporation of manihah within Malaysia's agricultural and Islamic financial industries' milieu.Research limitations/implicationsThis is a conceptual paper mainly intended to spark a discussion on the potentiality of manihah.Practical implicationsThe paper contends that Islamic banks have a crucial role in furthering the socio-economic development agenda under the value-based intermediation (VBI). The paper will also be an excellent introduction to Islamic bank practitioners in understanding manihah's relevance to their daily operation.Originality/valueThis paper introduces manihah as the potential solution to food security issues by utilizing abandoned lands.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42676673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The regional economy of Central Macedonia: an application of the social accounting matrix 中马其顿区域经济：社会核算矩阵的应用

IF 1.6

Agricultural Finance Review Pub Date : 2021-09-29 DOI: 10.1108/afr-02-2021-0019

Anthia Maniati, E. Loizou, D. Psaltopoulos, K. Mattas

{"title":"The regional economy of Central Macedonia: an application of the social accounting matrix","authors":"Anthia Maniati, E. Loizou, D. Psaltopoulos, K. Mattas","doi":"10.1108/afr-02-2021-0019","DOIUrl":"https://doi.org/10.1108/afr-02-2021-0019","url":null,"abstract":"PurposeThe economic and social problems, including high unemployment, facing the Greek economy in recent years are substantial. The role of the agri-food sector and agriculture in dealing with unemployment is a concern. To support the agricultural economy, a Common Agricultural Policy (CAP) 2007–2014 was adopted and implemented in the EU Member States. However, boosting employment, in the industry itself and indirectly in the economy, has almost never been a key goal of any policy. The purpose of this paper is to examine the role of the CAP 2014–2020 in maintaining and enhancing employment and income distribution in the region of Central Macedonia.Design/methodology/approachThe authors used the regional social accounting matrix (SAM), which examines the depiction of the interconnections between the sectors of economic activity and local economy (households, businesses, public) but also interconnections and transactions with the rest of the world. The SAM presents a more complete picture of the economic figures of the region, evaluating the interconnections of cross-sectoral relations and the implemented policies, both in the production sectors and in the regional society.FindingsFor the Central Macedonia region, the agricultural sector is a key player, holding a regulatory role for regional economic viability, and shows marked connections with the other industry branches of the region.Originality/valueThe new CAP 2014–2020 through Pillar 2–Rural Development may reinforce the new role of the industry in terms of the environment, integrated rural development and social structure of rural areas, ensuring coherence.","PeriodicalId":46748,"journal":{"name":"Agricultural Finance Review","volume":" ","pages":""},"PeriodicalIF":1.6,"publicationDate":"2021-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43391874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0