Agricultural Economics, 2021 (vol. 67), issue 2
How opportunity costs change the view on the viability of farms? Empirical evidence from the EUOriginal Paper
Jindřich Špička, Petr Dereník
Agric. Econ. - Czech, 2021, 67(2):41-50 | DOI: 10.17221/412/2020-AGRICECON 
The post-2020 Common Agricultural Policy targets at supporting small and medium-sized farms. Capping and redistribution of direct payments would have a direct impact on the economic viability of farms. Calculation of economic income is a reasonable way how to calculate the economic viability of firms. However, accounting profit has been preferred for its estimation so far. The article aims to compare the income from accounting and economic point of view and reveal how much the results differ across the EU. The literature review, an empirical analysis based on Farm Accountancy...
Digital and traditional media advertising and business performance of agribusiness firms - Empirical evidence in JapanOriginal Paper
Yessica C.Y. Chung, Hung-Hao Chang, Yukinobu Kitamura
Agric. Econ. - Czech, 2021, 67(2):51-59 | DOI: 10.17221/393/2020-AGRICECON
Can digital media advertising strategies benefit agribusiness farms? This study addresses this issue by investigating the extent to which digital and traditional media advertising strategies affect agribusiness performance and the underlying factors associated with agribusiness farms' adoption decisions. We estimate a non-linear simultaneous equation system and use a population-based survey data of agricultural processing farms in Japan. We find that female and younger farm operators', as well as incorporated agribusiness farms, are more likely to adopt digital media advertising. The sales value of digital media advertising users is higher by 51% than...
How to combine precious metals with corn in a risk-minimizing two-asset portfolio?Original Paper
Dejan Živkov, Petra Balaban, Boris Kuzman
Agric. Econ. - Czech, 2021, 67(2):60-69 | DOI: 10.17221/411/2020-AGRICECON
This paper tries to find out which precious metal futures are the best hedging tools for corn spot commodity, taking into account three different risk measures - variance (Var), value at risk (VaR), and conditional value at risk (CVaR). For computation purposes, we use an optimal dynamic conditional correlation (DCC) specification for every considered pair. Our findings indicate that portfolio with gold outperforms the other three precious metals (silver, platinum, and palladium) with respect to all three risk metrics. The reason for such findings is two-fold. First, gold has the lowest average dynamic correlation with corn (below 11%), and gold also...
Geographical indications for supporting rural development in the context of the Green Morocco Plan: Oasis datesOriginal Paper
Fatima Lambarraa-Lehnhardt, Rico Ihle, Khadija Mhaouch
Agric. Econ. - Czech, 2021, 67(2):70-79 | DOI: 10.17221/226/2020-AGRICECON
Origin labelling is one of the most prominent approaches in the Green Morocco Plan with which the Moroccan government aims to support the marketing of domestically produced food and then improve the income of smallholder farmers. We analyse the preferences and attitudes of Moroccan consumers towards the recently established Protected Geographical Indication label "Majhoul dates of Tafilalet". The analysis is based on a survey of 303 Moroccan consumers and focuses on the influence of the label as extrinsic attribute on consumer choice. We use cluster analysis to segment the market and the Analytical Hierarchy Process to shed light on preferences...