Agricultural Economics - Latest articles

Valuation of an innovative investment project using real options approach: A case study of a viticulture company in Spain

Raisa Pérez-Vas, Javier Hervés-Estévez, María Dolores Garza Gil, Raquel Fernández-González

Agric. Econ. - Czech, 2024, 70(2):91-100 | DOI: 10.17221/299/2023-AGRICECON  

In Spain, the leader in pesticide sales in the European Union, a high-tech and innovative company provides services to the wine industry to optimise phytosanitary work, reduce crop losses and lower production costs. Although the nature of its business encourages the transition to a sustainable agri-food system, it also involves risks associated with uncertainty. The objective of this article was to perform the valuation of the company through the real options approach, including an expansion option, analysing whether this company will be able to increase the value of its project by expanding its activity to a larger number of vineyards. Results...

Research on the promotion effect and mechanisms of digital empowerment of food enterprises

Penglong Li, Xuan Ye

Agric. Econ. - Czech, 2024, 70(2):60-72 | DOI: 10.17221/271/2023-AGRICECON  

Based on panel data from 2010 to 2020 of 151 A-share listed food-related enterprises in China, this research uses a fixed-effect model to analyse the impact of digital transformation on total factor productivity (TFP) in food-related enterprises. Our findings indicated that digital transformation has a positive and significant catalytic effect on TFP improvement in food-related enterprises. The mechanism test revealed that both cost-saving and innovation capacity enhancement effects of digital transformation contributed to the promotion of TFP improvement in these enterprises. Moreover, our heterogeneity analysis suggested that digital transformation...

Does the payment method matter in online shopping behaviour? Study on the Romanian market of vegetables during the pandemic crisis

Ioan-Sebastian Brumă, Cristina Cautisanu, Lucian Tanasă, Simona-Roxana Ulman, Meda Gâlea, Alexandra Raluca Jelea

Agric. Econ. - Czech, 2024, 70(1):34-47 | DOI: 10.17221/314/2023-AGRICECON  

The present study, centred on customer online shopping behaviours, aims at analysing the frequency of vegetable acquisition and its main determining factors, while considering different methods of payment, i.e. cash, debit card, and bank transfer on the Romanian market. Using data obtained from a questionnaire applied nationwide, a descriptive analysis and logistic regression were performed. An immature market in terms of digitalisation, characterised by the customers’ mistrust in online bank transfers, but also in products sold online was observed. In addition, the income, education, gender, and size of the household appeared to be significant...

The impact of fluctuating international fertiliser prices and exchange rates on domestic fertiliser prices in Türkiye

Ozgur Bor, Nihat Dagistan

Agric. Econ. - Czech, 2024, 70(1):12-23 | DOI: 10.17221/308/2023-AGRICECON  

This study aims to examine the relationship between domestic and international prices of di-ammonium phosphate (DAP) and urea fertilisers together with exchange rates in Türkiye using the non-linear autoregressive distributed lag (NARDL) model on monthly data for the period of January 2011 to September 2022. The result of the study provides empirical evidence about the presence of asymmetries in the short and long-run among these fertilisers. The findings of the study confirm that international prices of di-ammonium phosphate and urea fertilisers have a symmetric effect in the long-run and exchange rate of the Turkish lira to US dollars has an asymmetric...

Beef, lamb, pork and poultry meat commodity prices: Historical fluctuations and synchronisation with a focus on recent global crises

Massimiliano Calvia

Agric. Econ. - Czech, 2024, 70(1):24-33 | DOI: 10.17221/361/2023-AGRICECON  

This work addresses short-run fluctuations of nominal global meat commodity prices, that is, beef, lamb, pork, and poultry, from January 1980 to October 2023, thus including the COVID-19 pandemic and the Russo-Ukrainian conflict. It tries to answer the following questions: how do fluctuations in meat commodity prices behave historically? Are meat commodity prices synchronised? Do their co-movements show specific features during recent global crises such as the COVID-19 pandemic and the Russo-Ukrainian war? Using a ‘classical’ framework of cycle analysis, the work provides a series of turning points upon which statistics on phase and...

Impact of external shocks on international corn price fluctuations

Shuai Liu, Dingyu Liu, Sibo Ge

Agric. Econ. - Czech, 2024, 70(1):1-11 | DOI: 10.17221/318/2023-AGRICECON  

In recent years, the external shock represented by COVID-19 has caused significant fluctuations in global corn prices. Based on the weekly data on international corn prices from 2020 to 2023, this paper constructs autoregressive conditional heteroskedasticity (ARCH) class and time-varying parameter – vector autoregression (TVP-VAR) models. After analysing the characteristics of corn price fluctuations, it further analyses the influence of external uncertainties such as COVID-19, international finance, the corn futures market, and international exports of corn on corn price fluctuations. The results show that international corn price fluctuations...

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Agric. Econ. - Czech, 2024, 70(1):I-III