Agricultural Economics, 2019 (vol. 65), issue 3

Do CAP subsidies stabilise farm income in Hungary and Slovenia?Original Paper

Štefan Bojnec, Imre Fertő

Agric. Econ. - Czech, 2019, 65(3):103-111 | DOI: 10.17221/190/2018-AGRICECON  

A large share of the Common Agricultural Policy (CAP) budget takes the form of subsidies for supporting and stabilising the income of European Union farmers. This paper assesses whether CAP subsidies stabilise farm income and examines how subsidies may reduce the variability of farm income over time. The analysis is developed on a constant sample of Hungarian and Slovenian Farm Accountancy Data Network farms during the period 2007-2015. It incorporates both the whole sample and farms classified according to two criteria: economic size, and the relative importance of subsidies. Farm income variability is analysed by means of variance decomposition using...

European agriculture under immigration effects: New empirical evidenceOriginal Paper

Mirela Cristea, Gratiela Georgiana Noja

Agric. Econ. - Czech, 2019, 65(3):112-122 | DOI: 10.17221/69/2018-AGRICECON  

European agriculture is widely shaped under the compelling effects of international migration, both economic (labour) immigration and the refugee crisis. This complex endeavour could lead to significant spillover effects also upon the agricultural sectors in neighbouring locations, with different overall economic performances for migrant receiving countries. The research is thus set to assess the outcomes of the European agriculture under the impact of economic and humanitarian migration, focusing on the results achieved by ten EU Member States (most targeted by migrants), during 2000-2016. A balanced panel comprising a complex set of indicators was...

Non-linear relationships among related party transactions, financial characteristics, corporate governance, and corporate value - Analysis of high-growth and low-growth food firmsOriginal Paper

Joe-Ming Lee

Agric. Econ. - Czech, 2019, 65(3):123-132 | DOI: 10.17221/228/2018-AGRICECON  

This paper empirically investigates the relationship between related party transactions, financial characteristics, and corporate governance on the corporate value in Taiwan's food industry during 2008-2017. The results show that non-linear relationships among related party transactions, financial characteristics, corporate governance, and corporate value. This study recommends to low-growth food firms that they should strengthen the power of their financial performance and corporate governance.

Palm oil spot-futures relation: Evidence from unrefined and refined productsOriginal Paper

You-How Go, Wee-Yeap Lau

Agric. Econ. - Czech, 2019, 65(3):133-142 | DOI: 10.17221/31/2018-AGRICECON  

This study examines the palm oil spot-futures relation in terms of mean and volatility spillovers from 2010 to 2018. Based on the cross-correlation function of standardised residuals and its squared residuals, our results show: first, crude palm oil (CPO) futures returns Granger cause refined palm oil, palm stearin and palm olein spot returns. Second, refined palm kernel oil spot returns Granger cause crude palm kernel oil futures returns in mean and variance. Third, CPO spot and refined palm olein futures returns are independent; and fourth, there is volatility spillover from CPO futures market to refined palm oil spot market within longer time. These...

The coherence of common policies of the EU in territorial cohesion: A never-ending discourse? A reviewReview

Ornella Mikuš, Marin Kukoč, Mateja Jež Rogelj

Agric. Econ. - Czech, 2019, 65(3):143-149 | DOI: 10.17221/229/2018-AGRICECON  

The measures of Common Agricultural Policy (CAP) and Regional (Cohesion) Policy are aimed at achieving cohesion, i.e. reducing the economic (sectoral), social and territorial disparities at European Union level. The issue of rural areas has become an important part of the CAP measures in Pillar 2. Since the CAP does not have a primarily territorial orientation, it does not contribute to territorial cohesion of rural areas. In a similar vein, regional policy, which is primarily oriented towards territorial development, also failed to give rise to complete, balanced development. Using qualitative analysis, this article summarises references selected...