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1
Jiang, John (Xuefeng). "Beating Earnings Benchmarks and the Cost of Debt." Accounting Review 83, no. 2 (March 1, 2008): 377–416. http://dx.doi.org/10.2308/accr.2008.83.2.377.
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Prior research documents that firms tend to beat three earnings benchmarks—zero earnings, last year's earnings, and analyst's forecasted earnings—and that there are both equity market and compensation-related benefits associated with beating these benchmarks. This study investigates whether and under what conditions beating these three earnings benchmarks reduces a firm's cost of debt. I use two proxies for a firm's cost of debt: credit ratings and initial bond yield spread. Results suggest that firms beating earnings benchmarks have a higher probability of rating upgrades and a smaller initial bond yield spread. Additional analyses indicate that (1) the benefits of beating earnings benchmarks are more pronounced for firms with high default risk; (2) beating the zero earnings benchmark generally provides the biggest reward in terms of a lower cost of debt; and (3) the reduction in the cost of debt is attenuated but does not disappear for firms beating benchmarks through earnings management. In sum, results suggest that there are benefits associated with beating earnings benchmarks in the debt market. These benefits vary by benchmark, firm default risk, and method utilized to beat the benchmark. Among other implications, this evidence suggests that the relative importance of specific benchmarks differs across the equity and bond markets.
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Core, John E., Wayne R. Guay, and S. P. Kothari. "The Economic Dilution of Employee Stock Options: Diluted EPS for Valuation and Financial Reporting." Accounting Review 77, no. 3 (July 1, 2002): 627–52. http://dx.doi.org/10.2308/accr.2002.77.3.627.
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In this paper, we derive a measure of diluted EPS that incorporates the economic implications of the dilutive effects of employee stock options. We show that the existing FASB treasury-stock method of accounting for the dilutive effects of outstanding options systematically understates the options' dilutive effect, and thus overstates reported EPS. Using firm-wide data on 731 employee stock option plans, our proposed measure suggests that economic dilution from options is, on average, 100 percent greater than dilution in reported diluted EPS using the FASB treasury-stock method. We examine the implications of our analysis for stock price valuation, the price-earnings relation, and the return-earnings relation. We demonstrate analytically that when firms have options outstanding, empirical applications of equity valuation models that use reported per-share earnings as an input (e.g., Ohlson 1995) yield upwardly biased estimates of the market value of common stock. We predict that when the difference between our measure of economic dilution from options and the FASB treasury-stock method dilution from options is greater, the observed return-earnings and price-earnings coefficients will be smaller, and we provide some (albeit weak) empirical support for this prediction.
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Hidayat, Achmad Nizar, and Yuyun Isbanah. "Determinant Harga Saham Perusahaan Sektor Pertambangan di Bursa Efek Indonesia." BISMA (Bisnis dan Manajemen) 10, no. 2 (April 20, 2018): 117. http://dx.doi.org/10.26740/bisma.v10n2.p117-133.
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The purpose of this research is to analyze the influence of debt ratio, size, earnings per share, dividend policy, and money supply to stock price in mining Sector Company listed in Indonesia stock exchange period 2011-2015. This research uses the type of causality research and the data used is secondary data. Sampling technique by purposive sampling and obtained by eight companies as research object. The analysis method used is multiple linear regression analysis. The results show the debt ratio, size, earnings per share, dividend payout ratio, and dividend yield effect on stock prices of mining companies. While the money supply does not affect to stock price of mining companies. The recommendation of this research is that company need to consider debt ratio, size, earnings per share, dividend payout ratio and dividend yield in making company policy, because can affect stock price movement of company and become an alternative investment decision-making for investors.
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Dwi Rahmawati, Septin, Diana Dwi Astuti, and Lia Rachmawati. "Analisis Faktor-Faktor Yang Mempengaruhi Return Saham Dengan Profitabilitas Sebagai Variabel Intervening." JAKUMA : JURNAL AKUNTANSI DAN MANAJEMEN KEUANGAN 1, no. 1 (September 1, 2020): 42–57. http://dx.doi.org/10.31967/jakuma.v1i1.377.
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Manufacturing companies are companies that produce raw goods into finished goods, one of which is the consumer goods industry. The consumer goods industry is an industry that society needs to produce products for daily needs. Therefore, investors continue to look at the shares of this industry because they are considered to be always stable in determining the level of profit production. The purpose of this study is to understand the factors that influence stock returns with profitability as an intervening variable. The data used are secondary data collected from the Indonesia Stock Exchange 2014-2018 publications. The data processing method uses the path analysis method with IBM SPSS version 22. The results of the study show that Earnings Per Share and Debt Adequacy Ratio are related to Profitability. Yield Dividend, Firm Size, and Growth does not affect Profitability. Growth concerns Stock Returns, but Company Size, Dividend Results, Firm Size and Profitability Adequacy Ratio can be intervening variables Earning Per Share, but Profitability is not able to become intervening variables such as Yield Dividend, Company Size, Growth and Debt Adequacy Ratio.
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Laily, Nujmatul. "The Effects of Good Corporate Governance and Audit Quality on Earnings Management." Journal of Accounting and Business Education 1, no. 1 (September 19, 2017): 134. http://dx.doi.org/10.26675/jabe.v1i1.9754.
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<p>A number of previous empirical studies have attempted to reveal the existence of earnings management. However, a research that focuses on how to alleviate the earnings management practices committed by managers is still insufficiently available. This study is aimed to examine the effects of Good Corporate Governance (GCG) and audit quality on earnings management. The presence of Board of Commisioner and Audit Commitee in Indonesian Manufacturing Public Listed Companies serves as the proxy of GCG. On the other hand, KAP (public accounting firm) size, dichotomous variables and an assumption that big four auditors perform higher audit quality compared to non-big four auditor serve as the proxy of the audit quality. To echo the prior research, earnings management is measured by employing discretionary accruals modified by Jone (1995). 151 manufacturing listed companies were determined as the population and 86 public listed companies were eventually opted for the sample. Purposive sampling method was employed and regression was performed to analyze the data. The results showed that (1) accounting firms size does not yield significant effects on earnings management. It indicates that neither big four nor non-big four can significantly detect the existence of earnings management undertaken by manager through the audit they administer; (2) Board of Commisioner and Audit Commitee also do not generate significant effects on earnings management. It indicates that good corporate governance proxied by the existence of Board Commisioner and Audit Commitee do not necessarily alleviate the earnings management practices.</p><p> </p><p><strong>Keywords: </strong>Earnings management, audit quality, good corporate governance</p>
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Kuzucu, Narman. "A Survey of Managerial Perspective on Corporate Dividend Policy." International Journal of Research in Business and Social Science (2147-4478) 4, no. 2 (April 22, 2015): 1–19. http://dx.doi.org/10.20525/ijrbs.v4i2.22.
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This research paper examines the corporate dividend payout behaviors of non-financial firms from Istanbul Stock Exchange (Borsa Istanbul). Survey method is conducted to investigate managerial views on corporate dividend policy. The study investigates whether the evidence in Turkish stock market on dividend policy is similar to the European and the U.S. firms’ results which are reported earlier by other studies, and moreover in what extent Lintner’s (1956) findings on dividends is supported by today’s listed firms in an emerging market. The financial managers from 38 firms out of 216 non-financial companies responded the survey. The results show that there is a significant positive relationship between cash dividends and earnings. Earnings are viewed as the most important factor in dividend decision like in European and the U.S. firms. Sustainable change in earnings, stability and level of future earnings, and the desire to distribute a proportion of earnings to shareholders are the common determinants of dividend policy. The majority of the respondents reports that they target dividends. Dividend yield is the most common measure for dividend targeting. Share repurchases are not viewed as alternative to dividend payouts unlike the U.S. firms. The study finds supporting evidences for bird-in-the-hand and signaling hypotheses, and Lintner’s model.
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Christian, Natalis, and Frecky Frecky. "ANALISIS PENGARUH FAKTOR-FAKTOR YANG MEMPENGARUHI HARGA SAHAM PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA." Jurnal Benefita 1, no. 1 (February 28, 2019): 115. http://dx.doi.org/10.22216/jbe.v1i1.3417.
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<p><em>This research aims to analyze the impact of financial factors on </em><em>market price</em><em> in companies listed on the Indonesia Stock Exchange. The independent variables to be analyzed in this research namely return on equity, book value per share, earning per share, dividend per share, dividend yield, price earning and debt to total asset, and with the control variables namely firm size. 121 firms for the period of 2012-2016 used for sample which selected by using purposive sampling method. Software SPSS version 22.0 and Eviews Version 7 for windows are used to test in this research. The results of this research showed that return on equity, book value per share, earning per share, dividend per share, </em><em>and </em><em>firm size positively significant on market price while dividend yield </em><em>show negatively significant </em><em>on market price.</em><em> This result also show price earnings positively insignificant and debts to total assets negatively insignificant on market price.</em><em></em></p><p>Penelitian ini bertujuan untuk menganalisa dampak atas faktor-faktor keuangan terhadap harga saham pada perusahaan yang terdaftar di Bursa Efek Indonesia. Variabel independen yang dianalisa dalam penelitian ini adalah <em>return on equity, book value per share, earning per share, dividend per share, dividend yield, price earning </em>dan<em> debt to total asset</em>, serta ukuran perusahaan sebagai variabel kontrol. Selama periode 2012-2016 sebanyak 121 perusahaan dipilih sebagai objek dalam penelitian ini dengan menggunakan metode <em>purposive sampling</em>. Pengujian data dalam penelitian ini menggunakan <em>software</em> SPSS versi 22.0 dan Eviews versi 7. Hasil penelitian ini menunjukkan bahwa <em>return on equity, book value per share, earning per share, dividend per share</em> dan ukuran perusahaan berpengaruh signifikan positif terhadap harga saham sedangkan<em> dividend yield</em> berpengaruh signifikan negatif terhadap harga saham. Penelitian ini juga menemukan bahwa walaupun <em>price earning</em> dan <em>debts to total assets</em> tidak memiliki pengaruh signifikan terhadapa harga saham, <em>price earning</em> berpengaruh positif dan <em>debts to total assets</em> berpengaruh negatif terhadap harga saham.</p>
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ASHAMU, Sikiru Oyerinde. "STOCK MARKET EARNINGS AND ITS IMPACT ON NIGERIAN ECONOMY." LASU Journal of Employment Relations & Human Resource Management 1, no. 1 (December 1, 2018): 167–81. http://dx.doi.org/10.36108/ljerhrm/8102.01.0191.
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The stock market provides equity and a direct finance to potential investors for purposes of economic growth and development it enhances the efficiency of capital formation and allocation of resources and provides long-term capital for economy. The main objective of the study is to provide empirical evidence of the effect of stock market earnings on Nigeria’s economic growth. Hypotheses were set and model designed to fit the variables on equation line. Data were sourced from secondary sources mainly from Nigeria Stock Exchange Fact Book, Security and Exchange Commission Fact Book, National Bureau of Statistics and Central Bank of Nigeria Statistical Bulletin (various editions). The data was collected in annual time-series from 1991 to 2016. It was manipulated using Ordinary Least Square (OLS) Method and Phillip-Perron Unit Root Test using E.View 9.0..From the regression results, it was discovered that Market Capitalization has a positive and significant effect on gross domestic product which is the proxy for economic growth with the probability value of less than 10 percent under 0.05 significant level. It then mean that Nigeria Stock Market activities (as represented by Market capitalization-MC, Price Earnings Ratio-PER and Dividend Yield-DY) has positive influence on economic growth (GDP).Therefore in view of the findings, it is recommended that there should be improvement in the dealing market capitalization by encouraging more foreign investors to participate in the market, maintain and improve it state of technology like automated trading and settlement practices, electronic fund clearance and eliminate physical transfer of shares.
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Krylov, Sergey. "Company Dividend Policy Modeling: Neutral Approach." International Journal of Financial Research 12, no. 1 (December 25, 2020): 50. http://dx.doi.org/10.5430/ijfr.v12n1p50.
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The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
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Krylov, Sergey. "Company Dividend Policy Models: Neutral Approach." New Challenges in Accounting and Finance 3 (August 2020): 40–52. http://dx.doi.org/10.32038/ncaf.2020.03.04.
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The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevant scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
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Irton, Irton. "Influence of dividend policy on sharia stock price volatility." International Journal of Research in Business and Social Science (2147- 4478) 9, no. 7 (December 13, 2020): 84–92. http://dx.doi.org/10.20525/ijrbs.v9i7.921.
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The main object of this research is to examine whether dividend policy in the form of dividend payout ratio and dividend yield influences the volatility of sharia stock price in the Indonesian Stock Exchange. This research uses the quantitative method by using the secondary data collected from the published Indonesian Stock Exchange. The sample in this research is 106 companies registered in the Indonesian Sharia Stock Index (ISSI) in 2016-2018. The dependent variable in this research is stock price volatility while the independent variables are dividend payout ratio, dividend yield, and data of earnings volatility, debt, and size that are collected and processed from the company financial report. Multiplied regression analysis is used for correlation test and hypothesis test using the SPSS software program version 15.0. The result of the research shows a shred of evidence that dividend per share and dividend payout ratio have no influence on the stock price volatility. The result of research can help the investors to select the sharia shares, and for companies, this research is useful to determine the dividend policy
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Nurleli, Dellia, and Masodah Wibisono. "The Effect of IFRS Application, Stock Price Volatility, and Fundamental Variables on Jakarta Islamic Index." Jurnal Manajemen dan Keuangan 10, no. 1 (May 31, 2021): 1–14. http://dx.doi.org/10.33059/jmk.v10i1.2559.
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The movement of the Islamic capital market in recent years is still far from its true potential. Therefore, various researches on Islamic economics are needed to further encourage existing developments. The purpose of this study was to examine the effect of IFRS implementation, Stock Price Volatility, Book to Market, Dividend Yield, and Ownership Structure on Stock Returns. The population of this study is companies registered in the Jakarta Islamic Index (JII) in 2015 - 2018. The sampling method used was purposive sampling and obtained a sample of 14 companies. The data used are the company's annual financial statements that have been audited and published on the Indonesia Stock Exchange website and related company websites, as well as stock trading data obtained through the Yahoo Finance website. The data is processed and analyzed by using multiple linear regression statistical test models and SPSS Version 23 as a tool. The results of this study indicate that partially the Volatility of Stock Prices, Book to Market and Dividend Yield has a significant effect on Stock Returns, while the application of IFRS and Ownership Structure does not affect earnings management practices. Meanwhile, jointly applying IFRS, Stock Price Volatility, Book to Market, Dividend Yield, and Ownership Structure has a significant effect on Stock Returns. This journal discusses the relationship of financial factors to Islamic stocks, where these factors include IFRS, Volatility, and other fundamental variables.
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Yu, Jing Long, Tse Mao Lin, and Xin Hui Wu. "Does Brexit Have a Bullish or Bearish Effect on the Taiwan Stock Market?" International Journal of Economics and Financial Research, no. 73 (July 11, 2021): 90–101. http://dx.doi.org/10.32861/ijefr.73.90.101.
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Using the event study method to analyze one year of daily trading data of formal and Over-The-Counter (OTC) stocks in Taiwan, this study investigates whether the Brexit referendum led to abnormal returns, as well as the financial characteristics of the stocks, and the influential financial variables. The Taiwan stock market had negative abnormal returns on the day of the Brexit referendum. The high-abnormal return group was more significantly affected than the low-abnormal return group. The book-to-market ratio, price-to-earnings ratio, yield rate, average foreign shareholding ratio, and stocks overbought and oversold had a more significant impact on the low-abnormal return group. Abnormal returns were generated mostly in the OTC (Over-The-Counter) market. This event affected financial stocks more significantly than electronics and information technology stocks. The effects on formal stocks, OTC (Over-The-Counter) stocks, and the overall market were the most significant for the turnover rate and stocks overbought and oversold, yield rate, and turnover rate and book-to-market ratio, respectively. The results confirm that the model of the impact of a special event on the behavioral response in the Taiwan stock market can be used to predict changes in stock market prices when a special event occurs in the future.
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Means, T. S. "The Case for Community Reimbursement Upon Divorce for A Spouse's Education." Journal of Forensic Economics 2, no. 2 (April 1, 1989): 33–40. http://dx.doi.org/10.5085/0898-5510-2.2.33.
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Abstract The dissolution of a marriage generally requires the division of community property. The issue addressed in this paper is how to treat the situation in which one spouse (the student) obtains an educational degree financed with community funds and leaves the marriage with the potential for enhanced earnings. The other spouse (the working spouse) leaves the marriage having helped finance the student spouse's degree, but has no return of future income from the community funds. The courts, in general, have been reluctant to view an educational degree as community property subject to division. Some states do allow for the community funds to be reimbursed for the cost of the educational degree. This paper develops a method for deriving the correct level of compensation. If compensation is restricted to just the reimbursement of costs then the level of compensation will be below the correct level. Using the implied internal rate of return as a rate of reinvesting funds will also yield a level of compensation below the correct level. Using an interest higher than the internal rate can provide the correct level of compensation but may be inadmissable in court.
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Machidon, Ana. "The Sugar Beet Production Forecast in the Republic of Moldova." Cercetari Agronomice in Moldova 52, no. 1 (March 1, 2019): 44–53. http://dx.doi.org/10.2478/cerce-2019-0005.
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Abstract The production of the sugar beet in the Republic of Moldova (RM) in the last ten years decreased considerably. The world and Moldovan sugar consumption is increasing, therefore making sugar beet an important crop for sugar production. Sugar beet production, as one of the main industrial crops with a significant share in earnings, has an impact on the manufacturing sector of the country. Based on the crop significance, the scope of this research is to forecast the sugar beet production. Five years of forecast were computed for sugar beet production (Yt) in the RM. The research was conducted by the help of data provided by the National Bureau of Statistics. Six time series models were run to find the best solution for Yt forecast. Three of the models were considered the most appropriate. These are: Exponential function trend, Quadratic function trend and Holt’s method. The AIC (Akaike Information Criterion), SBC (Schwarz Bayesian Criterion) and R2 (coefficient of determination) explained that 77,5% of data showed to be optimal for Yt forecast in Holt’s method. As a result, the forecast was based on Holt’s methodology for time series with trend. Consequently, it was found that Yt will decrease by approximately 15 thousand tonnes by 2022. However, as the data is based on past assumptions, there still exists hope that the production of sugar beet will increase. The same is considered for the average yield, which at the moment is twice lower than in the European Union countries.
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Ogege, Samson. "The Influence of Dividend Payments on Share Price in Manufacturing Firms Quoted on the Nigerian Stock Exchange." EMAJ: Emerging Markets Journal 10, no. 2 (April 27, 2021): 63–69. http://dx.doi.org/10.5195/emaj.2020.196.
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This paper examined the influence of dividend payments on the price of share of quoted manufacturing companies in Nigeria employing panel data with 125 data observations spanning from 2014-2018. A purposeful sampling technique was used to select twenty-five manufacturing companies investigated from the Nigerian stock market. A linear regression model was specified and was further broken down into a bivariate regression model and the method of least square regression was adopted for data analysis. The outcome of the panel regression indicated that, dividend per share has a positive influence on the price of shares of high and low geared manufacturing firms; earnings per shares positively influence the shares price of both dividend and non-dividend paying manufacturing companies; dividend yield show an adverse effect on the share price of new and old manufacturing companies; credit risk was found to positively impact share price of big manufacturing companies, but adversely affect the share price of small manufacturing companies in Nigeria. In view of the outcomes of the analysis, the study therefore recommended that a conducive and favorable business environment should be created by the government for both old and new manufacturing companies in Nigeria to thrive. Also, credit risk should be effectively and efficiently managed by small manufacturing companies in particular in order to eliminate its adverse influence on their share price.
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Yuniarti, Rozmita Dewi, and Dede Karyana. "PENGARUH PENDAPATAN USAHA TERHADAP KEMAMPUAN PENGEMBALIAN KREDIT (Studi Kasus pada NPL (Non Performing Loan) SPP-UPK Samarang Garut Periode Januari 2007-Juni 2009)." Strategic : Jurnal Pendidikan Manajemen Bisnis 10, no. 2 (September 13, 2010): 49. http://dx.doi.org/10.17509/strategic.v10i2.1089.
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UPK Samarang represent institute organizer of fund and activity of governmental program that is PNPM-MANDIRI Countryside inDistrict of Samarang Garut which its effort make a move in the field of channeling and management of loan of SPP and of UEP. Besides, in program budget year of UPK functioning Samarang as organizer and dealer of construction fund. Target of most important company is to get profit in the form of loan service, to be able to yield big service hence company have to strive effectively and is efficient. Attainment of company profit in the form of loan service very depend on fluent rate of return. fluent the payment of loan of fundamental goodness and also loan service of menunjukan company efektifitas in depressing the amount of jam of credit of loan have problem. This research aim to to know operating income of group member, ability of return of credit of SPP and influence of operating income to ability of return of credit of SPP. this Object Research is financial statement of SPP UPK Samarang period of January 2007 up to period of June 2009. Data which [is] used in this research isprimary data and data of sekunder, with data collecting technique through interview with delegation of group member and Bursar of UPK Samarang, observation of[is non literature study and participant. This research have the character of descriptively of verifikatif, method of explanatory survey and use case study method by using sampling technique that is technique of purposive sampling. While data processing use simple linear regression analysis. Pursuant to result of examination of statistic obtained by information that there are influence which are positive between earnings ably return of credit of UPK Samarang, hence obtained by conclusion that ability of return of credit influenced by operating income equal to 18.49% and the rest equal to 81.51% influenced by other factor like individual character, mechanism and system, institute, and economic condition in general
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Pangestu, Ardi Tri, and Ade Suryana. "Market Value Ratio Analysis of Stock Returns In Companies With Largest Market Capitalization Period 2014-2018." Neraca : Jurnal Akuntansi Terapan 2, no. 1 (October 31, 2020): 28–47. http://dx.doi.org/10.31334/neraca.v2i1.1101.
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This research aims to analyze how much influence the Market Value Ratio has on Stock Returns (case studies are conducted against companies with the largest market capitalization listed on the Indonesia Stock Exchange). The variables used in the analysis in this study are using Price Earning Ratio, Earning Yield, Dividend Yield, and Market to Book Ratio.The samples selected in this study used purposive sampling methods with a total of 13 stocks and produced 50 sample ratios studied according to the criteria and qualified in the year specified in 2014-2018. The method of analysis used in this study is to use statistical methods of descriptive analysis and linear regression multiplely by using SPSS software.Based on the results of the hypothesis, it is known that the Price Earning Ratio has a significant influence on the return of the stock, The Earning Yield has an effect but is not significant on the return of the stock, the Dividend Yield and the Market to Book Ratio have no effect on the return of the stock, and the Market Value Ratio simultaneously (together) affects the return of the stock.
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Meriç, Ekrem, Melik Kamışlı, and Fatih Temizel. "Interactions among Stock Price and Financial Ratios: The Case of Turkish Banking Sector." Applied Economics and Finance 4, no. 6 (November 2, 2017): 107. http://dx.doi.org/10.11114/aef.v4i6.2755.
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One of the important variables for investors is the price of stocks and so that the variables that affect the price of the stocks. There are many indicators and methods such as fundamental and technical analysis that investors can use in valuing these instruments. Fundamental analysis, and financial ratios are tools that are generally used in investments process. Especially price-earnings ratio and dividend yield ratio are traditional financial ratios which are used to forecast the performance of the stock. In this context, the purpose of this study is to analyze the relationships between the price, price-earnings ratio and dividend yield ratio of the companies that are listed at BIST Banking sub-sector. In this context, in line with the aim of the study monthly price, price-earnings ratio and dividend yield ratio of VAKBN; ISCTR; HALKB; GARAN; AKBNK stocks between 2008M10-2017M3 will be analyzed by VAR methodology. Results show that the relationships between the abovementioned variables changes in size and direction from bank to bank.
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Rosenberg, Joseph I., and Rick R. Gaskins. "Damage Awards Using Intermediate Term Government Bond Funds vs. U.S. Treasuries Ladder: Tradeoffs in Theory and Practice." Journal of Forensic Economics 23, no. 1 (March 1, 2012): 1–31. http://dx.doi.org/10.5085/jfe.23.1.1.
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Abstract Valuing damage awards for personal injury or wrongful death requires the application of finance theory to achieve a practical result. Methods for discounting future earnings losses fall into two major categories: Current market rates, which offer greater objectivity, and historical rates, which theoretically offer greater stability of results by averaging away the effect of often volatile “current” market conditions. The purpose of this paper is to provide a unique ex post comparison of damage awards using distinctive current and historical rates methods that highlight the inherent differences between the two major discounting alternatives. Current market rates methods are represented by a Treasury bond ladder with no instrument rollover, using initial market rates for both discounting and investing damage awards. Historical rates methods are represented by intermediate term government bonds; historical average five-year Treasury yields are used for discounting the damage award, with annual bond rollover required afterwards to maintain the award investment in comparable instruments, creating realized total returns from investing. These alternative methods are compared, ex ante in terms of the present value of the awards, and also ex post, in terms of how well each method's award, based on the same projected lost earnings, is able to support paydowns based on actual lost earnings. Key findings include: (a) both methods result in widely varying lump sum awards; (b) the idea that historical rates offer greater stability of results over time is empirically unsupportable; (c) that a good measure of methodological accuracy is the relative variance in award present values observed by first discounting and then subsequently investing under each method using the same instruments; (d) that different economic conditions greatly affect the relative ex post accuracy of each method; and (e) that neither method is very accurate in projecting present value of earnings losses upon ex post analysis.
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Zhu, Qiong, and Liang Zhang. "Effects of a Double Major on Post-Baccalaureate Outcomes." Education Finance and Policy 16, no. 1 (January 2021): 146–69. http://dx.doi.org/10.1162/edfp_a_00290.
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We use data from the Baccalaureate and Beyond Longitudinal Study and propensity score weighting methods to estimate the effect of a double major on bachelor's degree recipients’ earnings within four years after college graduation. We classify each of a student's two majors in a double major combination as either “higher- or lower-paying,” based on the rank order of the average earnings of each major among single major students. Our analyses yield three main findings. First, within one year after graduation, double major graduates earn significantly less relative to their single major peers with the same higher paying major; however, by four years after graduation, their earnings are similar to those with the single higher paying major and significantly higher relative to those with the single lower paying major. Second, we find that double major graduates are more likely to be employed, work longer hours, and pursue graduate education than their single major peers four years after graduation. Finally, transcript data suggest that double major graduates take fewer classes in the higher paying major, which may explain their initial earnings penalty relative to those with the higher paying single major.
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Ayuning Putri, Anisa Ferata. "FAKTOR-FAKTOR PENENTU VOLATILITAS HARGA SAHAM SEKTOR PERUSAHAAN PROPERTI, REAL ESTATE DAN BUILDING CONSTRUCTION." Jurnal Akuntansi dan Keuangan 8, no. 2 (September 2, 2020): 109. http://dx.doi.org/10.29103/jak.v8i2.2563.
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Abstrak : Tujuan dari riset ini adalah untuk melihat pengaruh Devidend Payout Ratio, Devidend Yield, Earning Volatility, Pertumbuhan Aset, Leverage, Ukuran Perusahaan dan Blockholders terhadap Volatilitas Harga Saham. Pada penelitian ini akan menggunakan data laporan Perusahaan Lembaga Keuangan dari Bursa Efek Indonesia (BEI) selama periode 2016-2018 dengan populasi sebanyak 201 perusahaan metode purposive sampling digunakan untuk memperoleh sampel selama 3 tahun sebayak 36 perusahaan. Data penelitian ini di analisis menggunaka analisis regresi linier berganda. Hasil analisis ditemukan bahwa Dividen Payout Ratio, Earning Volatility, Pertumbuhan Aset, Ukuran Perusahaan, Blockholdres tidak berpengaruh terhadap Volatilitas Harga Saham Sedangkan untuk variabel Dividen Yield berpengaruh terhadap Volatilitas Harga Saham.Kata kunci : Volatilitas Harga Saham, Dividen Payout Ratio, Dividen Yield, Earning Volatility, Pertumbuhan Aset, Ukuran Perusahaan, Blockholdres Abstrack : The purpose of this study is to examine the effect of Dividend Payment Ratio, Dividend Results, Productive Volatility, Estimated Assets, Leverage, Firm Size and Blockholders on Stock Price Volatility. In this study will use the report data of Financial Institution Companies from the Indonesia Stock Exchange (BEI) during the 2016-2018 period with a population of 201 companies using a purposive sampling method for a 3-year sample of 36 companies. The data of this study were analyzed using multiple linear regression analysis. The results of the analysis found that Dividend Payment Ratios, Income Volatility, Assets, Company Size, Blockholdres are not in conflict with Stock Price Volatility While for the Result Dividend variable produced on Stock Price Volatility. Keywords: Stock Price Volatility, Dividend Payout Ratio, Yield Dividend, Income Volatility, Asset Inventory, Firm Size, Blockholding
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Gilbert, Scott Dale. "The Value of Future Earnings in Perfect Foresight Equilibrium." Journal of Forensic Economics 22, no. 1 (January 1, 2011): 21–41. http://dx.doi.org/10.5085/jfe.22.1.21.
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Abstract The present work considers the problem of valuing a future income stream in a perfect foresight economy. In this setting, with competitive equilibrium in labor and asset markets, market valuation of labor-generated income streams can be very simple. However, it can also be undone by moral hazard, in which case valuation may be based instead on fair compensation. I show that perfect foresight valuation emerges somewhat imperfectly in the forensic economics literature. To apply this type of valuation, the economist must form an expectation E[P] about perfect foresight price P. I consider several models of this expectation, some of which yield standard present value equations. I find that, while standard equations “fit” historical data well in some respects, they miss some dynamics that are better captured by more advanced econometric methods.
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Santos, Leandro da Rocha, and Roberto Marcos da Silva Montezano. "Value and growth stocks in Brazil: risks and returns for one - and two-dimensional portfolios under different economic conditions." Revista Contabilidade & Finanças 22, no. 56 (August 2011): 189–202. http://dx.doi.org/10.1590/s1519-70772011000200005.
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For empirical purposes, value stocks are usually defined as those traded at low price-to-earnings ratios (stock prices divided by earnings per share), low price-to-book ratios (stock prices divided by book value per share) or high dividend yields (dividends per share divided by stock prices). Growth stocks, on the other hand, are traded at high price-to-earnings ratios, high price-to-book ratios or low dividend yields. Academic research so far produced, international and Brazilian alike, shows that value stocks outperform growth stocks, challenging the Efficient Market Hypothesis, which states that the market prices of traded stocks are the best estimate of their intrinsic values. Most studies use a single ratio to sort stocks on percentiles; risks (generally defined as beta or standard deviations) and returns are then calculated for the resulting value and growth portfolios. In the present paper, we aim to further contribute to the growing literature on the field by applying a method not previously tested on the Brazilian market. We build portfolios sorted by the price-to-earnings and price-to-book ratios alone and by a combination of both in order to assess value and growth stocks' risks and returns on the Brazilian stock market between 1989 and 2009. Furthermore, our risk analysis may be regarded as the paper's main contribution, since its approach departs from conventional risk concepts, as we not only test for beta: portfolios' returns are measured under different economic conditions. Results support a pervasive value premium in the Brazilian stock market. Risk analysis shows that this premium holds under every economic condition analyzed, suggesting that value stocks are indeed less risky. Beta proved not to be a satisfactory risk measure. Portfolios sorted by the price-to-earnings ratio yielded the best results.
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BONNEAU, X., M. HUSNI, L. BEAUDOIN-OLLIVIER, and JOKO SUSILO. "CONTROLLING SUFETULA SPP.: A COCONUT INSECT PEST ON PEAT SOILS." Experimental Agriculture 43, no. 3 (July 2007): 289–99. http://dx.doi.org/10.1017/s0014479707005017.
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We demonstrated experimentally that Sufetula, a root-mining insect, has a depressive effect on coconut yields on peat soils. The impact of the pest resulted in a shortfall in earnings that warranted taking control measures. We considered control methods suitable for rehabilitating infested mature coconut plantings and for preserving young coconut plantings. Currently, cultural control is the only effective method. It involves eliminating all identified shelters for the adult insect, i.e. fern cover and heaps of coconut waste (dry fronds and husks). The aim is to achieve totally bare soil, with moss cover that does not attract the pest, or planted with an unattractive intercrop such as pineapple.
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Jackson, Scott B. "The Effect of Firms' Depreciation Method Choice on Managers' Capital Investment Decisions." Accounting Review 83, no. 2 (March 1, 2008): 351–76. http://dx.doi.org/10.2308/accr.2008.83.2.351.
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This study examines whether straight-line depreciation, relative to accelerated depreciation, causes non-executive managers to make non-value-maximizing capital investment decisions. To do this, I conduct experiments in which managers must decide whether to continue using an existing asset or invest in a replacement asset. By design, replacing the existing asset yields higher cash flows and managers are aware of this fact. However, if the asset is replaced, then the greater remaining book value under straight-line depreciation relative to accelerated depreciation causes earnings to be lower. Lower earnings and psychological forces may push managers of firms that use straight-line depreciation away from making the economically efficient capital investment decision. The results suggest that managers of firms that use straight-line depreciation are less likely to invest in a replacement asset than are managers of firms that use accelerated depreciation. Further, the results suggest that managers perceive that an asset depreciated using straight-line depreciation has provided less retrospective utility than an asset depreciated using accelerated depreciation. In turn, I find that depreciation method-induced differences in managers' retrospective utility perceptions influence their prospective utility perceptions, which, in turn, influence managers' asset replacement decisions. By theoretically and empirically linking firms' depreciation method choice to managers' capital investment decisions, I provide evidence that a seemingly innocuous choice made for external financial reporting purposes can cause managers to make non-value-maximizing capital investment decisions.
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Holzer, Harry J. "Job Search by Employed and Unemployed Youth." ILR Review 40, no. 4 (July 1987): 601–11. http://dx.doi.org/10.1177/001979398704000411.
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Analysis of data from the New Youth Cohort of the National Longitudinal Survey yields evidence that young unemployed job seekers chose higher levels of search effort (as measured by number of methods used and time spent per method) and lower reservation wages (relative to offered wages) than did comparable employed job seekers in 1981. These differences in search choices at least partly explain differences in search outcomes between the two groups: unemployed searchers apparently were more likely than employed searchers to gain new employment, and the wages they obtained were slightly lower. The author argues that the greater search effort by unemployed job seekers is due to the higher costs of search they bear because of foregone earnings.
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Chen, Jau-er, and Chen-Wei Hsiang. "Causal Random Forests Model Using Instrumental Variable Quantile Regression." Econometrics 7, no. 4 (December 16, 2019): 49. http://dx.doi.org/10.3390/econometrics7040049.
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We propose an econometric procedure based mainly on the generalized random forests method. Not only does this process estimate the quantile treatment effect nonparametrically, but our procedure yields a measure of variable importance in terms of heterogeneity among control variables. We also apply the proposed procedure to reinvestigate the distributional effect of 401(k) participation on net financial assets, and the quantile earnings effect of participating in a job training program.
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Souza, André Portela, and Eduardo Zylberstajn. "Estimating the returns to education using a parametric control function approach: evidences for a developing country." Brazilian Review of Econometrics 39, no. 2 (March 25, 2020): 217. http://dx.doi.org/10.12660/bre.v39n22019.69538.
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This paper investigates the causal effect of education on earnings in Brazil by employing a new method proposed by Klein and Vella (2010) that obtains identification on the presence of conditional heteroskedasticity. In contrast to traditionally used IV methods, this approach yields unbiased estimates in the absence of instruments. Results indicate that the average return to education in Brazil was relatively stable at around 14% from 1995 to 2003, declined afterwards reaching 10.7% in 2014, but has bounced back to 11.8% after the economic crisis in 2015. The results suggest that the OLS estimations are downward biased and we interpret this as a sign of under-education premiums that are likely to occur in environments where the more talented ones are dropped from school and moved into the labor market earlier in life.
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Khalofah, Ahlam, Muhammad Ifnan Khan, Muhammad Arif, Ansar Hussain, Rehmat Ullah, Muhammad Irfan, Shahzadi Mahpara, et al. "Deep placement of nitrogen fertilizer improves yield, nitrogen use efficiency and economic returns of transplanted fine rice." PLOS ONE 16, no. 2 (February 25, 2021): e0247529. http://dx.doi.org/10.1371/journal.pone.0247529.
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Rice (Oryza sativa L.) feeds to two-third of the global population by serving as staple food. It is the main export commodity of several countries; thus, contributes towards foreign exchange earnings. Unfortunately, average global rice yield is far below than its genetic potential. Low nitrogen (N) use efficiency (NUE) is among the major reasons for low average yield. Current study evaluated the impact of nitrogen fertilizer application methods (conventional and deep placement) on growth, yield-related traits, chlorophyll contents, photosynthesis rate, agronomic N-use efficiency (ANUE), partial factors productivity of applied N (PFP) and economic returns of two different transplanted rice varieties (Basmati-515 and Super-Basmati). Fertilizer application methods significantly affected allometry, yield-related traits, chlorophyll contents, photosynthesis rate, ANUE, PFP and economic returns. Deep placement of N-fertilizer (DPNF) observed better allometric traits, high chlorophyll contents, photosynthesis rate, ANUE, PFP, yield attributes and economic returns compared to conventional application of N-fertilizer (CANF). Similarly, Basmati-515 had better allometric and yield-related traits, chlorophyll contents, photosynthesis rate, ANUE, PFP and economic returns than Super-Basmati. Regarding interactions among N-fertilizer application methods and rice varieties, Basmati-515 with DPNF resulted in higher chlorophyll contents, photosynthesis rate, ANUE, PFP, allometric and yield related traits and economic returns than CANF. The lowest values of these traits were observed for Super-Basmati with no application of N-fertilizer. Both varieties had better yield and economic returns with DPNF compared to CANF. It is concluded that DPNF improved yield, ANUE and economic returns; therefore, should be opted to improve productivity of transplanted fine rice. Nonetheless, lower nitrogen doses need to be tested for DPNF to infer whether it could lower N use in rice crop.
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A. DeFusco, Richard, Lee M. Dunham, and John Geppert. "An empirical analysis of the dynamic relation among investment, earnings and dividends." Managerial Finance 40, no. 2 (January 7, 2014): 118–36. http://dx.doi.org/10.1108/mf-04-2013-0090.
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Purpose – The purpose of this paper is to examine the dynamic relationships among investment, earnings and dividends for US firms. The sample period is 1950-2006. Design/methodology/approach – The authors use a firm-level vector auto-regression (VAR) framework to examine the firm-level dynamics among investment, earnings and dividends. The firm-level VAR yields Granger causality results, impulse response functions, and variance decompositions characterizing the dynamics of these three variables at the firm level. Findings – For the average firm in the sample, Miller and Modigliani dividend policy irrelevance is not supported, even in the long run; the shocks to dividends do have long-run consequences for investment and vice versa. Dividend changes are an ineffective signal of future earnings in both the short and long-term. The cost of an increased dividend is on average an immediate decrease of $3 in investment for every dollar increase in dividends and the effect is persistent up to six years after the increase in dividends. Research limitations/implications – The firm-level VAR used in the study requires that sample firms have long histories of investment, earnings and dividend data. The study addresses the interaction between dividends and investment and therefore necessitates examining dividend-paying firms. By the nature of the research question, the sample firms will not be representative in all respects to the universe of firms. The most striking difference between the sample and the universe of firms is firm size. As such, the study's conclusions are most applicable to larger, stable, dividend-paying firms. The study is also limited to dividend payout. Alternative payout policies, such as share repurchases, are not considered in this work. Practical implications – In theory, increases in dividends can signal higher future earnings; however, the evidence does not support this hypothesis. When capital markets are constrained or incomplete, increases in dividends come at a cost to investment. Firms should consider alternative methods of signaling future earnings that have less of an impact on investment. Investors should carefully evaluate the possible impact of an increase in dividends on investment and future earnings growth. Originality/value – This study is the first to examine the dynamics of earnings, dividends and investment at a firm level and over such a long sample period. By including the dynamics of earnings, the authors emphasize the potential opportunity costs that increasing dividends has on investment when capital markets are imperfect. The dynamic system also allows the authors to consider long-run effects as well as immediate responses to system shocks.
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Vedy, Vedy, Susi Dwimulyani, and Bayu Dewangkoro. "PENGARUH KEBIJAKAN DIVIDEN SEBAGAI VARIABEL PEMODERASI DARI HUBUNGAN KINERJA KEUANGAN DAN KINERJA PASAR TERHADAP NILAI PERUSAHAANPADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA(2011 - 2015)." Jurnal Magister Akuntansi Trisakti 3, no. 2 (September 24, 2016): 195. http://dx.doi.org/10.25105/jmat.v3i2.4982.
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<p class="Default"><em>The purpose of this research is to investigate and analyze the effect of financial and market performance </em><em>(net profit margin, debt to equity ratio, current ratio, price earning ratio, economic value added, and market value added) to firm value in manufacturing companies listed on the Stock Exchange Indonesia, as well as to indentify and analyze whether the dividend policy (dividend payout ratio and dividend yield) as a moderating variable affect correlation variable of net profit margin, return on equity, debt to equity ratio, current ratio, price earning ratio, economic value added, dan market value added to firm value. Population of this research amount to 143 companies which were manufacturing company listed on the Indonesia Stock Exchange the year 2011-2015. Sample selected by using method of purposive sampling amount to 26 companies. Data was processed using the method of data panel regression statistical test by using Eviews version 8.0 software. </em></p><em>The result of this research shows that (1)</em><em> profitability ratio and dividend payout ratio affect negatively to firm value. Leverage, liquidity ratio, market ratio,economic value added, market value added and dividend yield affect positively to firm value. (2) Dividend policy which measured with dividend payout ratio is able to moderate the effect of profitability ratio, leverage ratio, liquidity ratio and market ratio to firm value. Dividend policy which measured with dividend payout ratio is not able to moderate the effect ofeconomic value added and market value added to firm value. (3) Dividend policy which measured with dividend yield is able to moderate the effect of profitability ratio, market ratio, economic value added and market value added to firm value. Dividend policy which measured with dividend yield is not able to moderate the effect of leverage ratio and liquidity ratio to firm value</em>
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Lyu, Huaili, and Conghui Yang. "Third-party underwriting and its effects on credit spreads and earnings management." China Finance Review International 10, no. 1 (February 27, 2019): 75–94. http://dx.doi.org/10.1108/cfri-07-2018-0067.
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Purpose The purpose of this paper is to examine the certification and monitoring motivations of third-party underwriting and its effects on credit spreads and earnings management of bank issuers. Design/methodology/approach Ordinary least squares is used to examine the certification and monitoring effects of third-party underwriting. Furthermore, the Heckman two-stage estimation method is used in controlling the endogeneity of sample selection. Findings The authors find that financial bonds underwritten by third-party underwriters bear lower credit spreads due to their credibly ex ante certification and effectively ex post monitoring compared with self-underwriting. Moreover, the certification of third-party underwriters can help to select good quality bond issuers with lower earnings management, and the monitoring function also plays an essential role in constraining the behavior of earnings management after the bond issues. Research limitations/implications The findings in this study suggest that underwriting types (third-party underwriting) will affect financial bond yields and bank issuers’ earnings management. Practical implications On the one hand, the authors should encourage third-party underwriters to actively promote the certification and monitoring functions. For example, given commercial banks the chance to be underwriters when the bond issuers are investment banks, which is not allowed now in China’s financial bond market. On the other hand, the authors should cut off the quid pro quo relations within third-party underwriting because such relations will reduce the certification and monitoring effects of third-party underwriters. Originality/value This is the first study to distinguish the certification and monitoring effects by using unique data from China’s financial bond market. And the authors further investigate the adverse effects of quid pro quo relations (hiring each other as lead underwriters) on the certification and monitoring effects of third-party underwriters.
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Kärkkäinen, Leena, Helena Haakana, Hannu Hirvelä, Reetta Lempinen, and Tuula Packalen. "Assessing the Impacts of Land-Use Zoning Decisions on the Supply of Forest Ecosystem Services." Forests 11, no. 9 (August 26, 2020): 931. http://dx.doi.org/10.3390/f11090931.
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Research Highlights: The informed decisions on land use require assessment of the impacts of these decisions on the supply of different ecosystem services. Background and Objectives: Scenario modeling can be used to provide harmonized and quantitative information on the impacts of various zoning decisions on the provision of various ecosystem services. In this study, we explored the effects of land-use zoning decisions on the provision of roundwood and energy wood, carbon stock of living tree components, berry yields, scenic beauty and recreation. Materials and Methods: Three alternative forest scenarios were formulated in terms of restrictions on forest management for already established land-use zones by the provinces in Finland. These data were integrated with the National Forest Inventory (NFI) plot data for forest dynamics modeling. Results: In Finland, 9% of the forest land was protected and 9% was under restricted forest management due to legislative decisions, forest owners’ decisions, or regional land use plans in 2016. These established zoning decisions resulted in an estimated 17% smaller roundwood and energy wood removals per year in 2016–2025 compared to the estimated wood removals in the scenario without any restrictions. The decrease in annual gross stumpage earnings was EUR 775 million per year. The carbon stock of living tree components in 2025 was 12% larger than in the scenario without any restrictions. Bilberry yield increased due to the restrictions considered in our study, while the restrictions had only a slight effect on cowberry yield at province and country levels. The restrictions increased the recreation value, particularly in Lapland, but only slightly affected scenic beauty at province and country levels. Conclusions: Scenario analyses support informed decision making and the balancing of different forest uses. Harmonized translation of restrictions and the use of standard indicators to model the impacts also support comparisons between the regions.
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Arifin, Hutama Sanputra, Tri Ramaraya Koroy, Gemi Ruwanti, and Zainal Arifin. "Comparison of the Dominance of Internal and External Influences on the Return of Shares of Companies Listed in IDX30." International Journal of Multi Discipline Science (IJ-MDS) 4, no. 1 (February 28, 2021): 16. http://dx.doi.org/10.26737/ij-mds.v4i1.2377.
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<p><em>This study aims to determine the comparison of external and internal influences on stock returns on the Indonesia Stock Exchange. The research method uses quantitative methods from secondary data of financial analysis on 16 companies from 30 companies on the IDX Index that have a high level of liquidity and have a large capitalization selected by the IDX (Indonesia Stock Exchange) with several selection criteria, the selection is carried out by the IDX regularly 2 times every year, namely in February and August. from 2014-2018 and data from Bank Indonesia on economic growth and inflation in the same year. </em><em>The data analysis technique used</em><em> </em><em>multiple regression. </em><em>The results show that the influence of external factors in the form of economic growth and inflation is more dominant than the company's internal factors in the form of DY (Dividend Yield), EPS (Earning Per Share), ROE (Return On Equity), PER (Price Earning Ratio) affect stock returns. </em><em>Implementation for companies that go public needs to pay attention to the dynamics of environmental changes, especially the inflation rate which can cause investors to sell their shares, while this phenomenon is an opportunity for some investors to get a cheaper share price than many other investors have released.</em></p>
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Thapa, RB, and NP Ghimire. "Performance of Mulberry Silkworm (Bombyx mori L.) under Leaf and Shoot Feeding Methods." Journal of the Institute of Agriculture and Animal Science 26 (April 1, 2005): 83–86. http://dx.doi.org/10.3126/jiaas.v26i0.616.
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Two batches of newly hatched J12 x C12 strain worms were reared in two separate trays feeding one with succulent Kanva-2 mulberry twigs and another with soft and tender chopped leaves of the same mulberry variety up to third molt. Then after, 200 worms per tray with six replications were fed on leaf and shoot separately throughout the larval period including combinations of leaf and shoot feeding to young and grown up instars. The result indicated that shoot feeding and its inclusion to leaf feeding were significantly better giving encouraging results (41.76 kg cocoon/box) and high remunerative return (Rs. 7295/box) compared to leaf feeding (38.56 kg cocoon/box) and earning (Rs. 6705.28/box), respectively.
Key words: Mulberry silkworm, leaf vs shoot feeding, larval duration, shell ratio, cocoon yield
J. Inst. Agric. Anim. Sci. 26:83-86 (2005)
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Maulina, Fera. "ANALISIS PERATAAN LABA, PROFITABILITAS DAN NILAI PERUSAHAAN PADA PT KALBE FARMA TBK." Jurnal Ekonomi Integra 10, no. 2 (June 8, 2020): 164. http://dx.doi.org/10.51195/iga.v10i2.144.
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Financial report describe the financial condition and results of operations of a company at a certain time or period of time. The writer analyzes PT Kalbe Farma's financial report by looking at Income Smoothing, Profit Margin Ratio, Return On Assets, Return On Equity, Basic Earning Power, Dividend Yield, Dividend Payout Ratio, Price Earning Ratio, and Market to Book Value Ratio. In this study, the writer uses quantitative analysis data with descriptive method. The data used is secondary data that is obtained from the financial report of PT Kalbe Farma Tbk, documentation studies, and literature studies in data collection techniques. The results of this study show that the Eckel Index at PT Kalbe Farma Tbk is 0.9481, which means that PT Kalbe Farma Tbk Company belongs to the category of companies that practice income smoothing. Profitability at PT Kalbe Farma Tbk shows that the performance of the company PT Kalbe Farma Tbk is not good because it has decreased in 2013-2015. In 2016, the company began to increase company performance which can be seen from the increase in the value of profitability. The value of the Company at PT Kalbe Farma Tbk is good even though overall it experiences fluctuations every year.
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Mason, Paul M., and Andres Gallo. "An Alternative Estimation Technique for Determining Discount Rates and Earnings Growth Rates in Wrongful Death and Personal Injury Cases." Journal of Forensic Economics 26, no. 2 (December 1, 2016): 181–92. http://dx.doi.org/10.5085/jfe-397.1.
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Abstract Regardless of the time period studied since the 1970s ended, without adjustments for structural factors, both real and nominal interest rates across the spectrum of maturities exhibit non-stationary processes with a unit root. Consequently, simply employing past means of either real or nominal yields losses a degree of credibility. Focusing on the period of the “Great Moderation,” employing structural break analysis can remove the non-stationarity so that forensic economists can chose not to use more complex ARIMA models, stochastic properties of interest rates, or estimating methods more complex than these. Rather, following the analysis in this paper, forensic economists can employ one of a small number of discount rates from a not too distant past time period that reflect systematic variations more likely to be consistent with predictable future interest rates.
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Kusmayadi, Iwan, Muhammad Ahyar, Muhdin Muhdin, and G. A. Oktaryani. "PROSPEK SAHAM PERBANKAN DI INDONESIA." JMM UNRAM - MASTER OF MANAGEMENT JOURNAL 9, no. 2 (June 22, 2020): 175. http://dx.doi.org/10.29303/jmm.v9i2.547.
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The focus of this research is to determine stocks provide the highest profit (gain opportunity) for investors. Investors will compare opportunities in choosing investment in the banking sector by comparing the combination of long-term growth rates rather than bank fundamentals with stock valuations. The population in this study is banking stocks included in the LQ45 index. The method of data collection uses a sample survey with a purposive sampling technique with the criteria of banking stocks with the largest market capitalization and has a high level of liquidity in trading values, and has consistently been included in the LQ45 index for the last 10 years (2008 to 2017). The number of samples selected were 4 banks consisting of Bank Mandiri (BMRI), Bank BRI (BBRI), Bank BCA (BBCA), and Bank BNI (BBNI). Data collection techniques through documentation, as well as quantitative data sourced from secondary data. Data analysis techniques by comparing the growth of fundamental performance such as Return On Assets (ROA), Return On Equity (ROE), Debt to Equity (DER), Capital Addequacy Ratio (CAR), and Non Performing Loans (NPL). Whereas market performance through Share Price, Earning Per Share (EPS), Price Earning Ratio (PER), Price to Earning Growth (PEG), and Dividend Yield by using compounded annual growth rate (CAGR). Then compare the value of the Margin Of Safety (MOS) Average in stock valuation analysis. The results of this study indicate that the financial performance of Bank BCA (BBCA) is superior to other banks according to DER, CAR and NPL. BRI is the best bank in generating profitability (ROA and ROE) compared to 3 other banks. Meanwhile, according to the stock market performance based on the order of the greatest opportunity level, Bank BNI has the best prospects because it has the largest EPS growth, the lowest stock price valuation, and sufficient MOS value, then ranked below it respectively are Bank Mandiri, Bank BRI, and Bank BCA .Keywords:Financial performance, market performance, and stock value
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Sheng, Hsia Hua, Cristiane Karcher, and Paulo Hubert Jr. "Um modelo alternativo de risco para companhias não-financeiras aplicado ao setor brasileiro de papel e celulose." Brazilian Review of Finance 7, no. 3 (October 7, 2009): 347. http://dx.doi.org/10.12660/rbfin.v7n3.2009.1336.
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Earnings at Risk (EaR) is a financial risk measure that can be applied to non-financial companies, similarly to Cash Flow at Risk (CFaR). It is based on a relation that can be quantified using a multiple linear regression model, where the dependent variable is the change on the company's results and the independent variables are changes in distinct risk factors. The presence of correlation between explanatory factors (multicollinearity) in this kind of model may cause problems when calculating EaR and CFaR. In this paper, we indicate some possible consequences of these problems when calculating EaR, and propose a method to solve it based on Principal Component Analysis technique. To test the model, we choose the Brazilian agriculture-business industry, more specifically the paper and pulp sectors. We will show that, on the absence of significant correlation between variables, the proposed model has equivalent performance to usual multiple linear regression models. We find evidence that when correlation appears, the model here proposed yields more accurate and reliable forecasts.
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Herdiyana, Herdiyana, and Kartika Kartika. "PENGARUH HASIL ANALISIS FUNDAMENTAL TERHADAP RETURN SAHAM PT RAMAYANA LESTARI SENTOSA TBK." JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) 1, no. 1 (June 30, 2015): 19–24. http://dx.doi.org/10.34203/jimfe.v1i1.452.
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ABSTRACTThe company can be knowledge have a good fundamentals if the company has current assets that are notbloated and mediocre sales, total assets and total capital is greater than the total debt, and the value ofEarning Per Share has a positive growth over the last five years. The higher the earning per share, thehigher the stock price. This contrasts with the fact that of the PT Ramayana Lestari Sentosa, Tbk becausethe company has current assets increased growth while the sales growth rate decreased in the period2008-2009. The method used in this research is explanatory survey. The study states that the resultsobtained in the Current Ratio and Debt to Equity Ratio, due to the variable multikolinearitas problemoccurs during testing. Total Asset Turnover and Net Profit Margin partially influence on stock prices.Total Asset Turnover partial effect on stock returns, while Net Profit Margin partially no effect on stockreturns. Simultaneously Total Asset Turnover and Net Profit Margin is the result of fundamental analysisinfluence on stock prices and stock returns.Keywords: Current Ratio, Debt to Equity Ratio, Total Asset Turnover, Net Profit Margin, Stock Price,Dividend Yield.
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Khakimov, R. А., S. А. Nikiforova, and N. V. Khakimova. "INFLUENCE OF DOSES AND TERMS OF APPLICATION OF MINERAL FERTILIZERS ON THE FORMATION OF WINTER WHEAT YIELD." Vestnik of Ulyanovsk state agricultural academy, no. 2 (50) (June 8, 2020): 82–90. http://dx.doi.org/10.18286/1816-4501-2020-2-82-90.
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In 2016-2019, research was conducted on the experimental field of the Ulyanovsk research Institute for the purpose of determining the effectiveness of starting doses of mineral fertilizers, as well as nitrogen fertilizing on the productivity and quality of winter wheat grain Marathon. Studies have established the optimal lead time of nitrogen fertilization and doses of mineral fertilizers. Weather conditions over the years of research were contrasting, which allowed us to assess the responsiveness of winter wheat to mineral fertilizers in conditions of different moisture availability. The most effective options were those with nitrogen fertilization at a dose of 34 kg/ha in the spring period on frozen soil, which allowed to obtain an additional 0.51 t/ha and, conversely, the lowest-in the autumn period (+0.16 t / ha). The maximum yield of winter wheat (3.72 t / ha) is formed during the seeding with the simultaneous introduction of 45.5 kg/ha of complex fertilizers in the rows against fractional application of ammonium nitrate in spring during tillering and booting of plants in the amount of 34 kg/ha and top dressing in the phase of earning with urea at a dose of 15 kg/ha. Correlation analysis showed a positive close relationship between the elements of the structure of the winter wheat crop depending on different doses and methods of applying mineral fertilizers and nitrogen fertilizers (r=0.82-0.96). The highest content of protein (on average 14.1%) and gluten (33.0%) was provided on the control background without use of ordinary fertilizers. The use of complex fertilizers during seeding resulted in a slight decrease of amount of protein (by 14%) and gluten (up to 32.4-32.9%). Nitrogen fertilizer had a greater impact on these indicators.
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Yao, Yanyun, and Bing Xu. "Conditional Distribution Prediction of Stock Returns and its Application on Risk Aversion Analysis." Journal of Advanced Computational Intelligence and Intelligent Informatics 22, no. 4 (July 20, 2018): 448–56. http://dx.doi.org/10.20965/jaciii.2018.p0448.
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Distribution prediction provides a complete description of forecasting uncertainty, which is of great significance to risk management. In this paper, the parametric method based on GARCH and the nonparametric method based on EWMA are both employed to model the conditional distributions of the SHCI and SZCI returns in Chinese stock market. As a result, the nonparametric method is better from the perspective of quantile evaluation. Furthermore, a simulated trading strategy based on time-varying quantiles is designed to analyze the trading yields of different levels of risk aversion. For the whole sample, compared with the buy-and-hold, SHCI has a higher profit in lower risk aversion and SZCI has higher profit only in a very narrow range when compared with the buy-and-hold strategy. In addition, the impact of IF:CSI 300 is considered. For the sub sample, before the emergence of IF:CSI 300, only a few investors with high risk aversion are able to achieve higher earnings from SHCI and there is hardly any opportunity for higher profit from SZCI. However, for the sub sample after the emergence of IF:CSI 300, many risk lovers and risk neutral investors have the opportunity to gain more profit than under the buy-and-hold strategy, both for SHCI and SZCI. The aforementioned conclusions imply that IF:CSI 300 may enhance Chinese stock market activity and liquidity and create more opportunities for investors who are not risk averse.
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Rahmawan, Rizal. "Comparative Analysis of Mining Shares on the LQ45 Index." JUDICIOUS 1, no. 2 (December 20, 2020): 107–15. http://dx.doi.org/10.37010/jdc.v1i2.200.
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This study aims to analyze the significance of differences in stocks' performance that are members of the LQ45, especially in the mining sector. Researchers use the method based on their classification in development research. From the level of sluggishness, this study includes experiments with quantitative data in the form of company performance ratios summarized by researchers from the official IDX website, including Return non-equity (ROE), non-asset returns (ROA), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Nett Profit Margin (NPM), and Earning Before Tax ( RBT). The researcher conducted a normality test on the data for four years and then performed a parametric difference test with the SPSS test tool and the One Way Anova analysis technique. This study indicates the research data is usually distributed with the average yield of superior stocks is PT. Bukit Asam, each variable calculation has an average height value with a standard deviation lower. The tests' results depending on entire ratio calculations, showed a difference significant between the stock to stock other. This shows the significance of the difference between one stock and another. One stock's advantage is proven to provide significant portfolio value for investors and other stakeholders.
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Chou, Shih-Chu, and Chunchia (Amy) Chang. "Does corporate diversification enhance accrual quality?" Review of Accounting and Finance 19, no. 2 (March 7, 2020): 199–219. http://dx.doi.org/10.1108/raf-01-2018-0003.
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Purpose This study aims to examine the association between corporate diversification and accrual quality and test whether the diversification effect hypothesis, which predicts that measurement errors in accruals ultimately decline as firms become more diversified, or the measurement error hypothesis, which predicts that these errors increase, prevails. Design/methodology/approach This study modifies an existing empirical framework that uses the downward bias inherent in earnings persistence to measure accrual reliability and applies it to a sample of firms listed on the New York Stock Exchange, American Stock Exchange and NASDAQ from 1998 to 2016. Findings The results indicate a significantly positive association between firms’ diversification level and accrual reliability, which suggests that the diversification effect dominates the measurement errors effect, leading to an increase in firms’ accrual quality. The authors also found additional evidence suggesting that this positive association is more pronounced when a firm’s underlying operating activities among segments are less correlated, which is consistent with the fact that the diversification effect becomes more evident if a firm participates in diverse lines of business. Originality/value This study proposes that applying fewer sets of estimation methods or assumptions to a cluster of segments could yield more measurement errors in accruals. It fills a research gap by showing that the portfolio diversification effect mitigates the detrimental effect of measurement errors in consolidated financial reporting.
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Luna, Max, David Chen, Álvaro Rivera-Andrade, Jessica González, David Burt, Carlos Mendoza-Montano, and James Patrie. "Prevalence of risk factors for noncommunicable diseases in an indigenous community in Santiago Atitlán, Guatemala." Revista Panamericana de Salud Pública 41 (February 8, 2017): 1. http://dx.doi.org/10.26633/rpsp.2017.7.
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Objective. To describe the prevalence of noncommunicable disease (NCD) risk factors and assess knowledge of those risk factors in the indigenous community of Santiago Atitlán in Guatemala, a lower-middle income country. Methods. A population-based, cross-sectional study was conducted using a modified version of the World Health Organization’s STEPS protocol. Adults aged 20–65 years were surveyed regarding demographics and NCD risk factors, and the survey was followed by anthropometric and biochemical measurements. Results. Out of 501 screened individuals, 350 respondents were enrolled. The mean age was 36.7 years, and 72.3% were women. Over 90% reported earning less than US$ 65 per month. Almost 80% were stunted. Among women, 37.3% were obese and over three-quarters had central obesity. Over three-quarters of the entire group had dyslipidemia and 18.3% had hypertension, but only 3.0% had diabetes. Overall, 36.0% of participants met criteria for metabolic syndrome. There was no significant association between participants’ education and NCD risk factors except for an inverse association with obesity by percent body fat. Conclusions. Santiago Atitlán is a rural, indigenous Guatemalan community with high rates of poverty and stunting coexisting alongside high rates of obesity, particularly among women. Additionally, high rates of hypertension and dyslipidemia were found, but a low rate of diabetes mellitus. Knowledge of NCDs and their risk factors was low, suggesting that educational interventions may be a high-yield, low-cost approach to combating NCDs in this community.
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Fawole, Wasiu Olayinka, and Burhan Ozkan. "Revisiting the profitability and technical efficiency of cocoa production amidst economic diversification program of the Nigerian Government." Journal of Agribusiness in Developing and Emerging Economies 8, no. 1 (March 12, 2018): 186–200. http://dx.doi.org/10.1108/jadee-04-2016-0020.
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Purpose The purpose of this paper is to assess how profitable and technically efficient is cocoa enterprise in Ondo State of Nigeria especially amidst the ongoing diversification program of the current administration in Nigeria. Design/methodology/approach The study made use of primary data collected with the aid of structured questionnaires. The multistage random sampling technique was used to select the sample for the study. Data collected during the survey were analyzed by both descriptive and inferential techniques. A total of 140 respondents who were majorly cocoa farmers were selected for this study with data on their socioeconomic characteristics and input utilization taken and subsequently analyzed. Findings This study found that the cocoa enterprise in the study area was efficient and profitable with rooms for improvement, especially in the areas of labor and input used as identified by the outcome of the study. The average yield, total revenue, gross margin and efficiency ratio were 1.2 ton/ha, ₦1,344,000.00/ha, ₦1,071,717.00/ha and 0.36, respectively. The highest, average and least technical efficiencies among farmers in the study area were 98.86, 88.81 and 75.12 percent, respectively. It was also discovered that none of the farmers investigated operated at 100 percent, confirming that there are still rooms for improvement in the production processes in the study area by adopting modern methods of production and replacement of the old breeds with resistant and high yielding breeds. Research limitations/implications The major limitation of this study was that the study sample is quite smaller and could as well not be used to make a strong policy case for the topic under consideration. However, as it is found among the majority of cocoa farmers in Nigeria, they mostly operate under the same conditions of production which suggests that the outcome of this research is not meaningless, considering the similarities in the production environment and other factors of production among cocoa farmers in Nigeria. It is therefore strongly recommended that future studies take into consideration this limitation and address it appropriately by widening the scope and sample for the study as this will go a long way in giving true representation as regarding the topic under consideration. Social implications The social implication of this study has to do with the employment opportunities that will be created for the teaming youths if the cocoa enterprise is made to attract them by creating enabling environment as recommended by the study. When quantity of production is improved, it will create additional income for the farmers and also provide foreign earnings to government. Originality/value This study is strictly original, considering its content and the contribution it is making to the body of knowledge. The study will be contributing to the knowledge by pointing out the potentials inherent in cocoa production as especially coming at a time when the price of crude oil that provides over 80 percent of Nigerian foreign earnings is down and the cocoa price is not only high but also stable at the international market.
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Metlytska, O. I., K. V. Kopylov, and A. V. Berezovsky. "MODERN MOLECULAR-GENETIC APPROACH TO INCREASE EFFICIENCY OF SELECTION PROCESS IN ANIMAL BREEDING OF UKRAINE." Animal Breeding and Genetics 51 (March 28, 2018): 193–200. http://dx.doi.org/10.31073/abg.51.26.
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Evaluation of livestock genomes to identify gene complexes which lead to expression of the quantitative trait desired for breeding is impossible without knowledge of its fine molecular structure and characteristics of "work" of this complex system – the interaction of genes at the level of their protein products, regulation of gene activity, and so on. To address such complex issues focused efforts of leading scientists in the world who have worked within the mapping and sequencing the genomes of the most economically important species of farm animals – "transcript" of the genome of some dog breeds was completed in 2003, the structure of the genome of cattle, pigs, rabbits, horses and turkeys was identified only in 2009, and the noticeabout completion of international program "Honeybee Genome" appeared only in 2010.
The rapid genesis of methods of molecular genetic analysis of farm animals’ genomes is not in vain called "DNA Revolution" and the number of methodological approaches and developments in this field is huge, so we consider it appropriate to be limited to developments of a leading scientific center of Ukraine to address these important issues – Institute of Animal Breeding and Genetics nd. a. M.V.Zubets of NAAS of Ukraine.
The main focus of the institute is developments of scientists which help to solve an important problem of the state –preservation of the existing gene pool of domestic breeds. In this sense, the developments of genetic testing of cattle on the "major" genes of quantitative traits, involved in forming the qualitative indicators of milk and meat productivity (k-Cn, βLG, GH, TG5, CAPN1 530, MSTN), have shown uniqueness of domestic breeds and high frequency of genotypes desired for breeding aimed at improving quality of milk and meat products. For example, k-Cn (kappa-casein) gene can be determined in a herd of animals with genotypes determining the presence of milk protein with desirable properties for cheese-making and selection of animals on some genotypes of βLG, GH, TG5 not only helps to intensify breeding towards milk yield increase, but will increase its fat content. Some mutation, identified in CAPN1 530 (calpain) gene, will provide for its carrier –a representative of beef cattle breeds by expressed marbling of muscle and individuals with abnormalities in MSTN (myostatin) gene will have "double" hypertrophied muscle structure. By the way, convenience to address practical issues of production of molecular genetic markers is that any genetic material (blood, pinched hair from an ear at marking of animals, buccal scrape of mucous membranes, urine, manure, semen, hair with hair follicles and even a few cells of embryos, etc.) can be used for researches at any age of animals. The value of this information is an early assessment of a genotype of an animal, that is, its genetic potential immediately after birth.
Using crossbreeding of different local populations of farm animals with imported ones has helped to improve the genetic potential of productivity of many populations of animals in very short term and the widespread artificial insemination has created conditions for economically useful programmable transmission of genes from parents to offspring. But now, as a result of intensive breeding and breed formation the accumulated reserve of variability has been reduced that can’t affect the possibilityofstrategic breeding. Intensive processes of "holsteinisation" and use of the limited number of sires of leading lines of this breed at moderate inbreeding and limitation of effective population size have led to the accumulation of "genetic load" in herds of local breeds–mutant variants of gene with lethal and semi-lethal effects.
Determination of hidden genetic abnormalities in cattle (BLAD – Bovine Leukocyte Adhesion Deficiency, CVM – Complex Vertebral Malformation, DUMPS – Deficiency of Uridine Monophosphate Synthase) using DNA diagnostics is carried out to prevent the accumulation of genetic load and reproductive losses. The vast number of spontaneous abortions and reasonsof early death of calves with birth defects is caused by gene mutations appearing phenotypically only if carriers of mutant alleles are both parents of a descendant. Identification of animals with heterozygous genotype as carriers of hidden abnormalities, is possible only if using proposed DNA technology.
Another type of testing breeding animals which is obligatory under law "On Livestock Breeding" is a cytogenetic analysis. In the selection and breeding work it is important not only to use methods for assessing the genetic potential of animals on the basis of productivity traits and availability of genetic diseases caused by mutations in specific genes. We must also take into account the sensitivity of animals’ genetic apparatus to different mutagenic environmental factors; it makes possible to select animals to improve genetic stability of their offspring and creating genetically stable populations at some farms that will significantly reduce the likelihood of chromosomal or genetic reconstructions in animals.
Reliable ways to assess genetic and population situation, genetic differences at interspecies, within species and individual level include a method of ISSR-PCR. Effective criteria for determining the impact of mutagenic environmental factors and selection factors on the structure of the investigated samples are implemented via this method and it is used as a tool for search of genetic loci associated with expression of the desired quantitative trait. This development is intended for use primarily in pig breeding for obtaining heterosis of offspring with high potential fattening and meat qualities.
As a result of long-term molecular genetic monitoring with use of own-created informative DNA markers in technology ISSR, RAPD, the confirmation of selection achievements in beekeeping was received– creating Khmelnytsky intra-breed type of Ukrainian Steppe bees with construction of unique genetic passport. The basic genetic criteria of "pure breed" of three bee species – Ukrainian, Carpathian and Grey Caucasian Mountain were determined, thus the degree of "pure breed"of bees can be determined accurately on the basis of morpho-metric and molecular genetic indicators. Using ISSR-S4 primer is able to identify the genome fragment of Ukrainian bees with size 950 bp, which is significantly associated with the expression of honey productivity; the research is carried out in this field.
Conducting DNA certification of bees to determine the purebred Ukrainian Steppe bees and Carpathian bees is a necessary part of the breeding work in beekeeping for the prevention and elimination of consequences of undesirable interbreed crossbreeding, linear consolidation, increase of traits of honey productivity.
In 2014,"Guidelines for morphological and genetic evaluation of Ukrainian bees" were formed and approved by the Ministry of Agrarian Policy of Ukraine as a result of long-term comprehensive studies on the genetics of honey bees.
Despite the difficult economic situation, a significant reduction in funding scientific support, reduction of scientific staff, low technological level of existing equipment, the work towards the development of effective technologies for the needs of the agricultural sector is conducted. The unique researches of peculiarities of genetic structure of major histocompatibility complex of cattle and pigs are carried out to identify animals with the best heredity for reproductive capacity and resistance to infectious diseases. Further study of protective and hygienic behaviour of bees, which is currently underway, will enable to improve breeding work in beekeeping with getting environmentally friendly products which can be exported and receive significant foreign exchange earnings to the state budget.
In general, livestock of Ukraine is the most important part of the socio-economic development and food security, as it is a manufacturer of biologically important products in the human diet. It is decidedly, that the progressive development of agriculture which defines export potential, quality of life and prosperity of citizens of Ukraine is impossible without the development of modern technologies and appropriate scientific support.
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Chitra, M., C. A. Malarvizhi, and N. Aruthdha Shree. "Economic Analysis on Covid-19 in Rural Economy." Shanlax International Journal of Arts, Science and Humanities 8, no. 4 (April 1, 2021): 46–54. http://dx.doi.org/10.34293/sijash.v8i4.3859.
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IntroductionThe government of India under Prime Minister Narendra Modi ordered a nationwide lockdown to contain the spread of coronavirus outbreak in four phases as Phase 1: 25 March 2020-14 April 2020 (21 days), Phase 2: 15 April 2020-3 May 2020 (19 days), Phase 3: 4 May 2020-17 May 2020 (14 days), Phase 4: 18 May 2020-31 May 2020 (14 days) and ban the people from stepping out of their homes and all human economic activities for their breadwinning are paralyzing all over India. The government of Tamil Nadu followed the central government order. It implemented the same, which leads a great loss of economic activities of every individual, specifically in the rural agricultural economy.Objectives• The general objective is to identify the Economic effect of Covid-19 in the study area, specifically.• To examine the socio-economic status of the respondents in Musuvanoothu Panchayat.• To find out the awareness, perception and adapted preventive measures apart from social distance in the study area and• To identify the challenges and problems due to lockdown in the study area.Methods and MaterialsIt is a cross-sectional study with primary data collected from a panchayat. A panchayat named Musuvanoothu was selected from Nilakkottai Taluk, Dindigul District. The panchayat is consists of six hamlets with 1078 ration cardholders receiving their ration items from two ration shops one in head village Musuvanoothu and another one in Kallukottai. The respondents were selected from the head village ration shop accessing people alone and the interviewed number is 615 out of 670. The remaining persons are reluctant to answer the questions raised by the interviewer. A Purposive nonrandom sampling method was used in this paper with simple percentage analysis.Results and DiscussionThree fourth of the respondents are belong to the high potential age group of the labor force and doing farming activities, specifically floriculture and intercropping with vegetables. The yields obtain during the lockdown period leftover on the farm and losing earnings in front of their eyesight. Advances of money taken from the flower and vegetable merchants for farming activities cannot repay/settle by the farmers in the study area. Also, respondents borrowed money from money lenders for their lockdown food consumption expenses.ConclusionHealthy innocent farming communities are suffering from stress and mental health issue due to lockdown. A good amount of economic loss incurred which can be mitigated or avoided if public cold storage is availed in the study area. Small and marginal farmer’s agricultural loans & credit may be waived for their betterment in forthcoming days.
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Cehla, Béla. "Presentation of sales price reserves for live lamb." Acta Agraria Debreceniensis, no. 34 (September 2, 2009): 37–45. http://dx.doi.org/10.34101/actaagrar/34/2819.
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Although sheep breeding in Hungary is grounded in strong traditions, its activities only comprise 1% of the total production value generated from agriculture, and 2% of that for animal-based products. The most significant portion of incomes earned in the Hungarian sheep sector has, for years now, stemmed from the sale of live animals. The sector is decidedly export-oriented, as the domestic demand for its main product, i.e. lamb meat, and is minimal, equaling some 20-30dkg per person per year. Part of the sold animals is sold to market as dairy sheep, while the greaterpart is sold in the category of lamb carcasses. For this reason, the average weight of slaughter sheep has lied between 19-22 kg for years now. The target markets for live lamb sales are predominately Italy and Greece. In Greece, movement on this market has shown an upward tendency in recent years; noteworthy are also sales to Austria, Holland, Bosnia-Herzegovina and Poland. In 2003, we exported sheep meat in the form of carcasses to Italy, as well as to Germany, and of these exports, 94% went to Italy, while the remaining 6% went to Germany.Among sheep products, only the trade balance for live animal sales is positive. But even for such producers, only those who are specialized in intensive breeding and those sheep farms “targeting” meat production can obtain earnings. Specialized literature on the sector argues that the quality of Hungarian lamb has diminished dramatically and is beginning to lose its market position. If Hungarian lamb does not meet market expectations, then it will only be bought from producers at lower prices.My research focuses on those factors which influence price. I separately discuss the question of quality, as one of the most important decisive factors on price. Within this discussion, I describe the market expectations which actually have an effect on the acceptance of live animals for sale on commission. In practice, after the problems of quality, the next most important question is that of when sale is made. In the course of my research, I studied the development of averages for sales on commission of live lambs using statistical methods. The most important problem of this sector is the hierarchical system used in sales: this is the topic hich neither the producer, nor the buyer, wish to discuss, not even with each other. On the basis of the information at my disposal, I outlined the levels of traders and individual levels used to arrive at commission prices. Finally, I examined the components of the production value of live lamb sales. The results I obtained quantified the key role of the prices and the yield, as well as the factors influencing income.