This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings ...This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.展开更多
Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has ...Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has experienced explosive growth,which has spurred a surge in the construction of domestic charging infrastructure.Charging infrastructure not only supports achieving dual carbon goals and the development of the new energy vehicle industry but also undertakes the new historical mission of infrastructure in China’s new development stage,becoming a crucial infrastructure connecting energy decarbonization and transportation electrification[1].In recent years,central and local governments have placed great emphasis on this field.They have introduced policies from various angles,including comprehensive macro-level measures,government planning,financial subsidies,charging rates,industry management,and scientific and technological innovation,to promote the moderately advanced development of charging facilities.展开更多
Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of ...Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of its value-added products and their profitability in the North-West Region remains underexplored. This study examined the profitability of maize value-added products in Mezam Division, with the objectives to: 1) identify various maize-based products, 2) assess the diversity of these products, 3) conduct a cost-benefit analysis of selected products, 4) examine the relationship between profitability and product diversity, and 5) identify key constraints impacting profitability. To achieve these objectives, structured questionnaires were administered to 500 small-scale maize entrepreneurs randomly selected from five subdivisions. Descriptive statistics were used to analyze objective 1 and 5, while the Shannon Diversity Index was employed to assess product diversity. Additionally, a cost-benefit analysis was conducted on four selected products namely pap, parched corn, peeled parboiled corn, and corn beer, and a correlation analysis was used to examine objective 4. In total, 13 maize value-added products were identified, with a diversity index of 4.4. The total cost of processing the four selected products per entrepreneur using 18 kg of maize per product was FCFA 83631.5 (US $132.75), while the total revenue was FCFA 121864.5 (US $193.43), resulting in an economic profit of FCFA 38,233 (US $60.69). Pap emerged as the most profitable product, with an economic profit of FCFA 27,875 (US $44.24), while corn beer was the least profitable, with an economic profit of FCFA 2133.46 (US $3.39). The correlation analysis revealed a strong negative relationship between product diversity and profitability (r = −0.91), indicating that entrepreneurs can maximize profitability by focusing on a few high-demand products like pap and parched corn. Key constraints to profitability included fluctuating market prices, high production costs, limited access to finance, and inadequate storage facilities. Despite these challenges, our findings indicate that maize value addition is profitable in Mezam Division. Entrepreneurs can leverage this data for informed decision-making and future investments. It is recommended that the government promote maize value addition and provide financial support for modern processing equipment to boost profitability and income generation.展开更多
Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultura...Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultural Estate housing an integrated fish farm was set up in the commune of Bandafassi, in the village of Itato. Since its creation, this production unit has been faced with the problem of sourcing high-quality, low-cost, monosex male Oreochromis niloticus fry. In order to overcome this constraint, the present research focuses on the contribution of Garcinia kola to the productivity and economic profitability of the Itato farm. The aim of the research is to assess fish production in the experimental set-up and the production costs of tilapia in a controlled environment. The comparative study of the various production factors shows disparities only in the input factor, where scenarios 2 and 3 use additional products. These are 17-α-methytestosterone for scenario 2 and Garcinia kola for scenario 3. These products significantly interfere with fish production, with a fairly high mortality rate for scenario 2 (25% for two production cycles/ cohort2 (B5, B6, B7 and B8) treated with 17-α-methytestosterone). As for scenarios 1 and 3, mortalities are 5% with or without recourse to additional products (G. kola). In addition, average fish production for the three (03) scenarios is estimated at 28687.5 kg/2 cycles. It varies from one scenario to another, i.e. 30937.5 kg/2 cycles for scenarios 1 and 3 and 24187.5 kg/2 cycles for scenario 2. It is therefore higher in scenarios 1 and 3 than in scenario 2. This difference is due to the fairly large losses of individuals in scenario 2. Furthermore, the analysis of the profit and loss accounts for tilapia production varies from one scenario to another depending on the type of farm: 476 Franc CFA for scenario 1, 610 Franc CFA for scenario 2 and 472 Franc CFA for scenario 3 (F CFA = franc of the French Colonies of Africa). The Average operating income for all the fish farming units is 34,726,142 Franc CFA. The highest (41,638,075 Franc CFA) and lowest (29,281,075 Franc CFA) ERs were observed in scenarios 3 and 2 respectively. It was 33,259,275 Franc CFA for scenario 1. The difference between the NERs of the three scenarios is more or less significant in terms of results. The operating result (OR) is positive in all 3 scenarios in our study. However, the scenario 3 system generates a higher rate of return (the ratio between an income and the capital employed to obtain that income) (74%) than that generated by the scenario 1 system (69%). As for the scenario 2 system, it generates a lower financial return than the two previous systems (67%). Above all, this work made it possible to construct an approach that would make it possible to answer such a question by relying successively on various methods: a typology, according to the production factors involved in the operation of the Community Agricultural Estate fish farm.展开更多
The central concept of strategic benchmarking is resource management efficiency,which ultimately results in profitability.However,little is known about performance measurement from resource-based perspectives.This stu...The central concept of strategic benchmarking is resource management efficiency,which ultimately results in profitability.However,little is known about performance measurement from resource-based perspectives.This study uses the data envelopment analysis(DEA)model with a dynamic network structure to measure the resource management and profitability efficiencies of 287 US commercial banks from 2010 to 2020.Furthermore,we provide frontier projections and incorporate five variables,namely capital adequacy,asset quality,management quality,earning ability,and liquidity(i.e.,the CAMEL ratings).The results revealed that the room for improvement in bank performance is 55.4%.In addition,we found that the CAMEL ratings of efficient banks are generally higher than those of inefficient banks,and management quality,earnings quality,and liquidity ratios positively contribute to bank performance.Moreover,big banks are generally more efficient than small banks.Overall,this study continues the current heated debate on performance measurement in the banking industry,with a particular focus on the DEA application to answer the fundamental question of why resource management efficiency reflects benchmark firms and provides insights into how efficient management of CAMEL ratings would help in improving their performance.展开更多
Expanding the utilization of marginal land resources in rural areas is regarded as a significant supplement for the sustainable development of modern agriculture for its yield, economic and ecological good. Marginal a...Expanding the utilization of marginal land resources in rural areas is regarded as a significant supplement for the sustainable development of modern agriculture for its yield, economic and ecological good. Marginal areas, due to their natural limitations, are only productive for energy crops with strong resistance and tolerance. Cassava, in its longstanding cultivation practices, has marked its adaptability in tropical and subtropical regions. Farmers are allowed to improve reclaimed soils’ fertility, while plants’ canopy coverage could reduce soil erosion. Besides, cassava tubers to be produced as food or fodder can be counted as soil productivity. Breeding advanced cassava varieties on marginal land under proper intensification management and facilitating policies can indeed increase farmers’ income. Some of the projects implemented outside of China speak quite well on that. Additionally, intercropping modes for cassava bring higher incomes than monocropping mode, which simultaneously improves the ecosystem structure and soil conditions. The interspecific cooperation brought by the intercropping pattern has its buffering function and antagonistic effects to counter against plant diseases, pest attacks and weed infestations. It performs as a natural alternative for pesticides and fertilizers with minimal inputs and safe and productive outputs. Although a complete cassava industrial chain has been formed nationwide, there are still challenges like the inadequate use of marginal areas and risks triggered by unfavorable climate, changeable commodity markets, and the composition of the labor force. However, there will still be ample room for further growth of cassava, for recent years have witnessed the acceleration in the circulation of rural land management rights and the stratification of Chinese farmers, which gives an impetus to household management’s dominance as well as the improvements of rural social welfare systems for the overall agricultural efficiency.展开更多
Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, instit...Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, institutional, and financial drivers of FinTechprofitability and the time it takes for these firms to break even. The database includesrelevant qualitative factors, such as foundational characteristics, the technologicalprofile of the startup, and its funding structure. Using the full population of FinTechstartups operating in Spain from 2005 to 2017, we observe that most of these firms areunprofitable within three years of their inception. Combining panel data and survivalanalyses, we empirically find that large and solvent FinTech firms founded by singleentrepreneurs in an incubator or accelerator program are more likely to be profitableand prevail. FinTech firms reach their break-even points faster if they receive fundingthrough seed capital.展开更多
In recent years, conventional rice production technologies have been leading to deterioration of soil health and declining farm profitability due to high inputs of water and labor. Conservation agriculture （CA） base...In recent years, conventional rice production technologies have been leading to deterioration of soil health and declining farm profitability due to high inputs of water and labor. Conservation agriculture （CA） based resource-conserving technologies i.e. zero-tillage （ZT）, raised-bed planting and direct-seeded rice （DSR） have shown promise as alternatives to conventional production technologies to overcome these problems. Present study was undertaken during 2009-2012 to establish an understanding of how permanent raised bed cropping system could be practiced to save water at the field application level to improve water productivity and also have the capability to enhance productivity, profitability and soil physical quality. The results showed that among different crop establishment techniques, conventional-tilled puddle transplanted rice （CT-TPR） required 14%-25% more water than other techniques. Compared with the CT-TPR system, zero till direct-seeded rice （ZT-DSR） consumed 6%-10%less water with almost equal system productivity and demonstrated higher water productivity. Wide raised beds saved about 15%-24% water and grain yield decrease of about 8%. Direct-seeded rice after ZT or reduced tillage or on unpuddled soil provided more net income than CT-TPR. The CT-TPR system had higher bulk density and penetration resistance due to compaction caused by the repeated wet tillage in rice. The steady-state infiltration rate and soil aggregation （〉 0.25 mm） were higher under permanent beds and ZT and lower in the CT-TPR system. Under CT-TPR, soil aggregation was static across seasons, whereas it improved under no-till and permanent beds. Similarly, mean weight diameter of aggregates was higher under ZT and permanent beds and increased over time. The study reveals that to sustain the rice productivity, CA-based planting techniques can be more viable options. However, the long-term effects of these alternative technologies need to be studied under varying agro-ecologies in western Uttar Pradesh, India.展开更多
The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation...The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation (REDD). Net Present Value was used for comparing profits of different types of investment (e.g. different type of land use). Rapid Rural Appraisal was used to gather information on farm budget data for each land use, including prices, production, labor and other input. The results of the profitability analysis showed that all land uses, both on mineral soil and peat land, were profitable. Oil palm, both in large plantations and smallholder gardens, was the most profitable land-use system. However, the profitability of smallholder oil palm on peatland was lower than on mineral soils yet oil palm was still more competitive than rubber on mineral soils. The competitiveness of mixed gardens with oil palm was higher on peatland and the threat of converting other land uses to oil palm was higher on mineral soil than on peat. For crop systems, irrigated paddy had the highest profitability.展开更多
This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estim...This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estimate of cost efficiency.We have used an unbalanced panel dataset from a sample of emerging economic MENA countries over the period between 2011 and 2017.We find out that have a significant and negative impact of competition on profitability of banks.The empirical findings of this study suggest that(1)MENA banks should more improve the process of managing and monitoring the loan segment business;the result which reducing in the level of credit risk which leads to higher profitability(2)MENA banks should shrink higher level of banking sector development.(3)MENA banks should make full conduct of available funds to engage in various natures of businesses;if there is an issue of insolvency,robust government support would give protection to MENA banks.Finally,it also provides some compulsory policy implications which will be very much beneficial for a wide range of stakeholders.展开更多
AIM：To define the financial and management conditions required to introduce a femtosecond laser system for cataract surgery in a clinic using a fuzzy logic approach.METHODS：In the simulation performed in the current...AIM：To define the financial and management conditions required to introduce a femtosecond laser system for cataract surgery in a clinic using a fuzzy logic approach.METHODS：In the simulation performed in the current study,the costs associated to the acquisition and use of a commercially available femtosecond laser platform for cataract surgery（VICTUS,TECHNOLAS Perfect Vision GmbH,Bausch ＆ Lomb,Munich,Germany） during a period of 5y were considered.A sensitivity analysis was performed considering such costs and the countable amortization of the system during this 5y period.Furthermore,a fuzzy logic analysis was used to obtain an estimation of the money income associated to each femtosecond laser-assisted cataract surgery（G）. RESULTS：According to the sensitivity analysis,the femtosecond laser system under evaluation can be profitable if 1400 cataract surgeries are performed per year and if each surgery can be invoiced more than $500.In contrast,the fuzzy logic analysis confirmed that the patient had to pay more per surgery,between $661.8 and $667.4 per surgery,without considering the cost of the intraocular lens（IOL）.CONCLUSION：A profitability of femtosecond laser systems for cataract surgery can be obtained after a detailed financial analysis,especially in those centers with large volumes of patients.The cost of the surgery for patients should be adapted to the real flow of patients with the ability of paying a reasonable range of cost.展开更多
The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the th...The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the theoretical plant was 200,000 tons per year and the raw wood materials used were birch pulpwood, spruce pulpwood, pine pulpwood, and energy wood. These wood materials were young delimbed wood from early thinnings. The main goal of the paper was to illustrate that the energy content differences of raw wood materials affect the economic profitability of a bio-coal pellet plant at regional level. In this case, wood type also has a regional economic impact, which the pellet plant can influence through its raw wood material choices. The raw material comparison was based on measured data and not computational or literary data alone. The study found that lower solid wood energy densities caused higher relative costs for the total supply chain. A parallel phenomenon occurred with the required gross margin of the pellets, where lower energy content caused higher required gross margin for pellet sales. The gross margin was also sensitivity analyzed at different discount rates from 5% to 20%. At each required discount rate, the highest annual economic impact on the region was found for birch pellets, with values of 36.95 - 42.66 million €. Spruce pellets had the smallest annual economic impact, although it had the highest final pellet price in the same cases. The different economic effects were caused by the energy volumes sold.展开更多
In Faranah Province （Guinea）, the ratio of supply and demand of corn is approximately 1 ： 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn ...In Faranah Province （Guinea）, the ratio of supply and demand of corn is approximately 1 ： 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn production by evaluating the effects of increasing doses of mineral fertilizers on the yield and economic profitability of corn. The experiment was conducted on a farm in Kamedankoude in a split plot with three replicates. Treatments included two varieties of maize （Perta and Kilissi113） and five doses of chemical fertilizers （D0=unfertilized control, Dl=300 kg NPKS＋200 kg urea. hm^2; D2=400 kg NPKS＋800 kg urea· hm^2; D3= 200 kg NPKS＋400 kg urea· hm^2 and D4=500 kg NPKS＋600 kg urea. hrn2）. The results showed that all the agronomic parameters increased with increasing dose of fertilizers, except for the number of ears per plant. The two varieties of corn tested produced similar yields. However, the profitability of mineral fertilizers decreased with increased doses and with value/cost ratio of 3. We recommended a mineral fertilizer dose of 300 kg NPKS ＋ 200 kg urea. The high prices of mineral fertilizers were often barriers to intensive maize cultivation, especially for low-income farmers. This study was a contribution to rational fertilization and adapted the socio-economic conditions of the region, with the background knowledge that most farmers in the regions earned low incomes.展开更多
The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impa...The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impact of regulation on the efficiency and profitability of banks.This study aims to examine the impact of the introduction of two major regulatory changes(Basel II and Basel III)on bank performance,in terms of bank size and bank-specific and macroeconomic variables.A two-stage empirical anal-ysis was conducted on a sample of 433 European commercial banks over the 2006–2015 period.In the first stage,relative efficiency was calculated using non-parametric data envelopment analysis.In the second stage,the generalized method of moments was used to examine the impact of bank-specific and macroeconomic variables as well as regulation on bank performance,that is,profitability and efficiency.Consider-ing bank size,the results show a diverse impact of regulation on bank performance.Regarding large-and medium-sized banks,regulation positively affects both efficiency and profitability,whereas,for small banks,it negatively affects performance.The results suggest that larger banks have skillfully adapted to the new regulatory environment.In contrast,small banks have problems with profitability and efficiency because the new regulatory framework has imposed additional administrative and regulatory burdens.This could result in future failure or mergers with larger banks,resulting in a higher concentration in the banking sector and increased systemic risk.Our results strongly suggest that regulation should not be implemented equally for all banks;that is,on a one size fits all terms.A distinction between small and large banks when introducing new regulatory frameworks should be made if a reasonable level of competition is to be preserved.展开更多
Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The pe...Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The persistent low production arises from poor cultivation methods,low soil fertility,poor quality seed,pests and diseases,among others.This study compared the profitability of improved cultivation methods for African indigenous vegetables(AIVs),i.e.,pure stand and in lines,versus traditional practice(mixing seeds of different AIVs then broadcast),both for leafy and seed production.The AIVs included:Nakati(Solanum aethiopicum L.),Bugga(Amaranthus blitum L.)and Jobyo(Gynadropsis gynandra L.),arranged in completely randomized(CR)design with three replicates.Results showed that Nakati was more profitable when grown for leafy compared to seed production with benefit:cost ratio(BCR)9.2 and 4.0 for leafy and seed,respectively.Bugga for seed was more profitable compared to leafy production(BCR 18.0 and 2.7 for seed and leafy,respectively).Growing Jobyo for seed was more profitable than leafy production(BCR 14.9,2.4 for seed and leafy,respectively).Growing indigenous vegetables(IVs)for seed in mixed broadcast system,out of the three IVs farmers stand to economically maximize benefits for one crop(BCR 0.9,1.7 and 10.2 for Bugga,Nakati and Jobyo,respectively)compared to pure stand and in lines(BCR 18.0,4.2 and 14.9 for Bugga,Nakati and Jobyo,respectively).Thus,famers stand to benefit more if they grow IVs as pure stand and in lines as opposed to mixed and broadcast,whether for leafy or seed production.展开更多
Economically developed countries hold much of its total wealth as financial savings, and they should faster experience higher rates of overall economic growth in the long run. Given the level of income made by economi...Economically developed countries hold much of its total wealth as financial savings, and they should faster experience higher rates of overall economic growth in the long run. Given the level of income made by economic entities and according to such correlation, their propensity to save can be generated. As a clear reflection of the development of the financial sector, insurance companies as financial intermediaries, through the mobilization of savings, contribute to the development of the entire financial sector. Analyzing the performance of insurance companies in Serbia, CARMEL method will be applied, which includes indicators for the presentation of quantitative criteria for the purpose of monitoring and analyzing the profitability of insurance companies consisting of a model that is the current methodology of the MMF. In addition to traditional financial instruments, derivative securities are traded in financial markets, promoting the development of financial markets, such as options, which are generators of potential growth of profitability. The aim of this paper is to show the growth potential of profitability in insurance companies, as well as decreasing risks which are connected to the business activities by the use of options.展开更多
A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigati...A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigation water amounts and K fertilizer rates for increasing farmer profitability. Three irrigation amounts (70%, 100% and 120% ETo), three K fertilizer levels (57, 86 and 114 K2O kg/ha) and four intercropping patterns of sunflower and peanut (different spatial arrangements) were implemented. The experimental design was strip split plot with three replications. The results showed that there were no significant differences between 100% and 120% ETo on most of yield traits of the intercrops. The highest K fertilizer level had the highest values of most yield traits of the intercrops. The highest values of peanut and sunflower traits were obtained from intercropping sunflower with peanut, where peanut seeds were sown on both sides of all the raised beds, sunflower seeds were sown on one row above the raised beds and the following bed was left without intercropping (P1). Thus, to attain the highest yield of intercrops and water equivalent ratio (WER), the lowest competitive pressure and the highest farmer profitability, 120% ETo, 114 K2O kg/ha and P1 intercropping pattern should be implemented. This research found that the result of competitiveness was consistent with the result of profitability.展开更多
The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study w...The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study was multifinance company in Indonesia over period 2005-2007. The study uses an unbalanced panel data as a methodology. The result suggests that, the ownership of financial assets doesn＇t significantly affect multi-finance performances. This result indicates that multi-finance face difficult situation to generate profit from the credit given. And the result also suggests that all macroeconomic determinants affect multi-finance profitability, with more concern on inflation that have negative significant.展开更多
The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean diff...The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean difference between adopters and non adopters ranged from 2819.63 Kg to 4766.59 Kg per unit area of production. For food security status, the average mean quantity of maize consumed at home level was 615.54 Kg with the mean difference ranged from 377.29 Kg to 474.68 Kg. For market participation, the average treatment effect of the treated (ATT) of quantity of maize sold was 11,694.24 Kg while the mean difference ranged from 7165.98 Kg to 9015.60 Kg. The Average Treatment Effect of the Treated market price was 213 Frws/Kg while the mean difference ranged from 44.51 Frws/Kg to 48.3053 Frws/Kg. The Average Treatment Effect of the Treated of farmer’s revenues for the users was 938,772 Frws/ha, however, the mean difference between adopters and non adopters ranged from 1,732,942 Frws to 2,007,039 Frws. The Average Treatment Effect of the Treated of farmer’s net farm income was 1,066,393 Frws while mean difference between users and non users ranged from 803,967 Frws to 854,141 Frws. For profitability analysis, the cost benefit ratio (CBR) was taken into account. The total benefit per unit area was 2,434,509 Frws and total average mean cost of 1,382,313 Frws and CBR = 1.761 > 1. The findings of this study will help the policy makers for deeper sector planning and also, it will facilitate other stakeholders to invest in irrigation technology to improve the livelihoods of Rwandan farmers and other surroundings.展开更多
The profitability of broiler chicken production depends on many interrelated factors, such as the size of the farm, farming system, the genetic potential, feed price and the quality of chicken meat obtained as a final...The profitability of broiler chicken production depends on many interrelated factors, such as the size of the farm, farming system, the genetic potential, feed price and the quality of chicken meat obtained as a final product, e.g., meat, and a strategy of their sales on the domestic and foreign market. Economic analysis were conducted in randomly selected farms growing commercial broilers, from April 2008 to March 2013 （28 cycles all together）, at the same time in three buildings, with 46 thousands to 54 thousands one-day chickens. In the analyzed period, broilers were reared for 35-50 d. The average slaughter body mass ranged from 2.36 kg to 2.99 kg with feed conversion ratio （FCR） 1.68 kg of feed/kg of body weight gain to 1.78 kg of feed/kg of body weight gain. Stock mortality at that time ranged from 3.5% to 6.4%. On the basis of macroeconomic data, a clear relationship between the increase in the period particularly from 2004 onwards, prices of feed 33.6% and the purchase price of livestock 22.5% in the case of the evaluated farms were found. These values were 27.9% and 31.7%, respectively. From the analysis of the relationship between different types of broiler production costs, it was concluded that the main determinant of the profitability of live poultry production was the cost of feed and first of all was the prices of feed. This means that the boom in live poultry production is variable, resulting in consequences for production and income.展开更多
文摘This study analyzes the impact of profitability,firm size,and capital structure on firm value within the manufacturing sector.Utilizing a descriptive literature-based method,this research synthesizes various findings from previous studies to provide a comprehensive overview of the relationships among these variables.Profitability,often measured by Return on Assets(ROA)or Return on Equity(ROE),is expected to have a positive relationship with firm value as it reflects a company’s ability to generate profits.Firm size,measured by total assets or the logarithm of sales,is also assumed to influence firm value,both through economies of scale and better access to capital markets.Meanwhile,capital structure,measured by Debt to Equity Ratio(DER)or Debt to Asset Ratio(DAR),has a complex impact;while debt can enhance firm value through tax shields,excessive debt levels can increase financial risk and potentially decrease firm value.The synthesis of literature indicates a general consensus on the importance of profitability and firm size in shaping firm value,though there is variation in the significance and direction of the relationship for capital structure variables.This study provides important implications for company managers and investors in making strategic decisions related to resource allocation and selecting an optimal capital structure to enhance firm value.
文摘Driven by the dual carbon goals and the national strategy for the high-quality development of the advanced manufacturing industry,along with the trend of economic transformation,China’s new energy vehicle market has experienced explosive growth,which has spurred a surge in the construction of domestic charging infrastructure.Charging infrastructure not only supports achieving dual carbon goals and the development of the new energy vehicle industry but also undertakes the new historical mission of infrastructure in China’s new development stage,becoming a crucial infrastructure connecting energy decarbonization and transportation electrification[1].In recent years,central and local governments have placed great emphasis on this field.They have introduced policies from various angles,including comprehensive macro-level measures,government planning,financial subsidies,charging rates,industry management,and scientific and technological innovation,to promote the moderately advanced development of charging facilities.
文摘Maize value-added products play a crucial role in reducing post-harvest losses, enhancing food security, and generating income. While extensive research has focused on maize production in Cameroon, the exploration of its value-added products and their profitability in the North-West Region remains underexplored. This study examined the profitability of maize value-added products in Mezam Division, with the objectives to: 1) identify various maize-based products, 2) assess the diversity of these products, 3) conduct a cost-benefit analysis of selected products, 4) examine the relationship between profitability and product diversity, and 5) identify key constraints impacting profitability. To achieve these objectives, structured questionnaires were administered to 500 small-scale maize entrepreneurs randomly selected from five subdivisions. Descriptive statistics were used to analyze objective 1 and 5, while the Shannon Diversity Index was employed to assess product diversity. Additionally, a cost-benefit analysis was conducted on four selected products namely pap, parched corn, peeled parboiled corn, and corn beer, and a correlation analysis was used to examine objective 4. In total, 13 maize value-added products were identified, with a diversity index of 4.4. The total cost of processing the four selected products per entrepreneur using 18 kg of maize per product was FCFA 83631.5 (US $132.75), while the total revenue was FCFA 121864.5 (US $193.43), resulting in an economic profit of FCFA 38,233 (US $60.69). Pap emerged as the most profitable product, with an economic profit of FCFA 27,875 (US $44.24), while corn beer was the least profitable, with an economic profit of FCFA 2133.46 (US $3.39). The correlation analysis revealed a strong negative relationship between product diversity and profitability (r = −0.91), indicating that entrepreneurs can maximize profitability by focusing on a few high-demand products like pap and parched corn. Key constraints to profitability included fluctuating market prices, high production costs, limited access to finance, and inadequate storage facilities. Despite these challenges, our findings indicate that maize value addition is profitable in Mezam Division. Entrepreneurs can leverage this data for informed decision-making and future investments. It is recommended that the government promote maize value addition and provide financial support for modern processing equipment to boost profitability and income generation.
文摘Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultural Estate housing an integrated fish farm was set up in the commune of Bandafassi, in the village of Itato. Since its creation, this production unit has been faced with the problem of sourcing high-quality, low-cost, monosex male Oreochromis niloticus fry. In order to overcome this constraint, the present research focuses on the contribution of Garcinia kola to the productivity and economic profitability of the Itato farm. The aim of the research is to assess fish production in the experimental set-up and the production costs of tilapia in a controlled environment. The comparative study of the various production factors shows disparities only in the input factor, where scenarios 2 and 3 use additional products. These are 17-α-methytestosterone for scenario 2 and Garcinia kola for scenario 3. These products significantly interfere with fish production, with a fairly high mortality rate for scenario 2 (25% for two production cycles/ cohort2 (B5, B6, B7 and B8) treated with 17-α-methytestosterone). As for scenarios 1 and 3, mortalities are 5% with or without recourse to additional products (G. kola). In addition, average fish production for the three (03) scenarios is estimated at 28687.5 kg/2 cycles. It varies from one scenario to another, i.e. 30937.5 kg/2 cycles for scenarios 1 and 3 and 24187.5 kg/2 cycles for scenario 2. It is therefore higher in scenarios 1 and 3 than in scenario 2. This difference is due to the fairly large losses of individuals in scenario 2. Furthermore, the analysis of the profit and loss accounts for tilapia production varies from one scenario to another depending on the type of farm: 476 Franc CFA for scenario 1, 610 Franc CFA for scenario 2 and 472 Franc CFA for scenario 3 (F CFA = franc of the French Colonies of Africa). The Average operating income for all the fish farming units is 34,726,142 Franc CFA. The highest (41,638,075 Franc CFA) and lowest (29,281,075 Franc CFA) ERs were observed in scenarios 3 and 2 respectively. It was 33,259,275 Franc CFA for scenario 1. The difference between the NERs of the three scenarios is more or less significant in terms of results. The operating result (OR) is positive in all 3 scenarios in our study. However, the scenario 3 system generates a higher rate of return (the ratio between an income and the capital employed to obtain that income) (74%) than that generated by the scenario 1 system (69%). As for the scenario 2 system, it generates a lower financial return than the two previous systems (67%). Above all, this work made it possible to construct an approach that would make it possible to answer such a question by relying successively on various methods: a typology, according to the production factors involved in the operation of the Community Agricultural Estate fish farm.
基金provided by Ministry of Science and Technology(Grant No.MOST 107-2410-H-034-056-MY3).
文摘The central concept of strategic benchmarking is resource management efficiency,which ultimately results in profitability.However,little is known about performance measurement from resource-based perspectives.This study uses the data envelopment analysis(DEA)model with a dynamic network structure to measure the resource management and profitability efficiencies of 287 US commercial banks from 2010 to 2020.Furthermore,we provide frontier projections and incorporate five variables,namely capital adequacy,asset quality,management quality,earning ability,and liquidity(i.e.,the CAMEL ratings).The results revealed that the room for improvement in bank performance is 55.4%.In addition,we found that the CAMEL ratings of efficient banks are generally higher than those of inefficient banks,and management quality,earnings quality,and liquidity ratios positively contribute to bank performance.Moreover,big banks are generally more efficient than small banks.Overall,this study continues the current heated debate on performance measurement in the banking industry,with a particular focus on the DEA application to answer the fundamental question of why resource management efficiency reflects benchmark firms and provides insights into how efficient management of CAMEL ratings would help in improving their performance.
文摘Expanding the utilization of marginal land resources in rural areas is regarded as a significant supplement for the sustainable development of modern agriculture for its yield, economic and ecological good. Marginal areas, due to their natural limitations, are only productive for energy crops with strong resistance and tolerance. Cassava, in its longstanding cultivation practices, has marked its adaptability in tropical and subtropical regions. Farmers are allowed to improve reclaimed soils’ fertility, while plants’ canopy coverage could reduce soil erosion. Besides, cassava tubers to be produced as food or fodder can be counted as soil productivity. Breeding advanced cassava varieties on marginal land under proper intensification management and facilitating policies can indeed increase farmers’ income. Some of the projects implemented outside of China speak quite well on that. Additionally, intercropping modes for cassava bring higher incomes than monocropping mode, which simultaneously improves the ecosystem structure and soil conditions. The interspecific cooperation brought by the intercropping pattern has its buffering function and antagonistic effects to counter against plant diseases, pest attacks and weed infestations. It performs as a natural alternative for pesticides and fertilizers with minimal inputs and safe and productive outputs. Although a complete cassava industrial chain has been formed nationwide, there are still challenges like the inadequate use of marginal areas and risks triggered by unfavorable climate, changeable commodity markets, and the composition of the labor force. However, there will still be ample room for further growth of cassava, for recent years have witnessed the acceleration in the circulation of rural land management rights and the stratification of Chinese farmers, which gives an impetus to household management’s dominance as well as the improvements of rural social welfare systems for the overall agricultural efficiency.
基金support from the FUNCAS Foundation,PGC2018–099415–B–100 MICINN/FEDER/UE,and Junta de Andalucía P18-RT-3571 Project。
文摘Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, institutional, and financial drivers of FinTechprofitability and the time it takes for these firms to break even. The database includesrelevant qualitative factors, such as foundational characteristics, the technologicalprofile of the startup, and its funding structure. Using the full population of FinTechstartups operating in Spain from 2005 to 2017, we observe that most of these firms areunprofitable within three years of their inception. Combining panel data and survivalanalyses, we empirically find that large and solvent FinTech firms founded by singleentrepreneurs in an incubator or accelerator program are more likely to be profitableand prevail. FinTech firms reach their break-even points faster if they receive fundingthrough seed capital.
基金the project ‘Resource Conservation Technologies for Sustainable Development of Agriculture’
文摘In recent years, conventional rice production technologies have been leading to deterioration of soil health and declining farm profitability due to high inputs of water and labor. Conservation agriculture （CA） based resource-conserving technologies i.e. zero-tillage （ZT）, raised-bed planting and direct-seeded rice （DSR） have shown promise as alternatives to conventional production technologies to overcome these problems. Present study was undertaken during 2009-2012 to establish an understanding of how permanent raised bed cropping system could be practiced to save water at the field application level to improve water productivity and also have the capability to enhance productivity, profitability and soil physical quality. The results showed that among different crop establishment techniques, conventional-tilled puddle transplanted rice （CT-TPR） required 14%-25% more water than other techniques. Compared with the CT-TPR system, zero till direct-seeded rice （ZT-DSR） consumed 6%-10%less water with almost equal system productivity and demonstrated higher water productivity. Wide raised beds saved about 15%-24% water and grain yield decrease of about 8%. Direct-seeded rice after ZT or reduced tillage or on unpuddled soil provided more net income than CT-TPR. The CT-TPR system had higher bulk density and penetration resistance due to compaction caused by the repeated wet tillage in rice. The steady-state infiltration rate and soil aggregation （〉 0.25 mm） were higher under permanent beds and ZT and lower in the CT-TPR system. Under CT-TPR, soil aggregation was static across seasons, whereas it improved under no-till and permanent beds. Similarly, mean weight diameter of aggregates was higher under ZT and permanent beds and increased over time. The study reveals that to sustain the rice productivity, CA-based planting techniques can be more viable options. However, the long-term effects of these alternative technologies need to be studied under varying agro-ecologies in western Uttar Pradesh, India.
文摘The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation (REDD). Net Present Value was used for comparing profits of different types of investment (e.g. different type of land use). Rapid Rural Appraisal was used to gather information on farm budget data for each land use, including prices, production, labor and other input. The results of the profitability analysis showed that all land uses, both on mineral soil and peat land, were profitable. Oil palm, both in large plantations and smallholder gardens, was the most profitable land-use system. However, the profitability of smallholder oil palm on peatland was lower than on mineral soils yet oil palm was still more competitive than rubber on mineral soils. The competitiveness of mixed gardens with oil palm was higher on peatland and the threat of converting other land uses to oil palm was higher on mineral soil than on peat. For crop systems, irrigated paddy had the highest profitability.
文摘This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estimate of cost efficiency.We have used an unbalanced panel dataset from a sample of emerging economic MENA countries over the period between 2011 and 2017.We find out that have a significant and negative impact of competition on profitability of banks.The empirical findings of this study suggest that(1)MENA banks should more improve the process of managing and monitoring the loan segment business;the result which reducing in the level of credit risk which leads to higher profitability(2)MENA banks should shrink higher level of banking sector development.(3)MENA banks should make full conduct of available funds to engage in various natures of businesses;if there is an issue of insolvency,robust government support would give protection to MENA banks.Finally,it also provides some compulsory policy implications which will be very much beneficial for a wide range of stakeholders.
文摘AIM：To define the financial and management conditions required to introduce a femtosecond laser system for cataract surgery in a clinic using a fuzzy logic approach.METHODS：In the simulation performed in the current study,the costs associated to the acquisition and use of a commercially available femtosecond laser platform for cataract surgery（VICTUS,TECHNOLAS Perfect Vision GmbH,Bausch ＆ Lomb,Munich,Germany） during a period of 5y were considered.A sensitivity analysis was performed considering such costs and the countable amortization of the system during this 5y period.Furthermore,a fuzzy logic analysis was used to obtain an estimation of the money income associated to each femtosecond laser-assisted cataract surgery（G）. RESULTS：According to the sensitivity analysis,the femtosecond laser system under evaluation can be profitable if 1400 cataract surgeries are performed per year and if each surgery can be invoiced more than $500.In contrast,the fuzzy logic analysis confirmed that the patient had to pay more per surgery,between $661.8 and $667.4 per surgery,without considering the cost of the intraocular lens（IOL）.CONCLUSION：A profitability of femtosecond laser systems for cataract surgery can be obtained after a detailed financial analysis,especially in those centers with large volumes of patients.The cost of the surgery for patients should be adapted to the real flow of patients with the ability of paying a reasonable range of cost.
基金the Auramo Foundation for funding that made this study possible.
文摘The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the theoretical plant was 200,000 tons per year and the raw wood materials used were birch pulpwood, spruce pulpwood, pine pulpwood, and energy wood. These wood materials were young delimbed wood from early thinnings. The main goal of the paper was to illustrate that the energy content differences of raw wood materials affect the economic profitability of a bio-coal pellet plant at regional level. In this case, wood type also has a regional economic impact, which the pellet plant can influence through its raw wood material choices. The raw material comparison was based on measured data and not computational or literary data alone. The study found that lower solid wood energy densities caused higher relative costs for the total supply chain. A parallel phenomenon occurred with the required gross margin of the pellets, where lower energy content caused higher required gross margin for pellet sales. The gross margin was also sensitivity analyzed at different discount rates from 5% to 20%. At each required discount rate, the highest annual economic impact on the region was found for birch pellets, with values of 36.95 - 42.66 million €. Spruce pellets had the smallest annual economic impact, although it had the highest final pellet price in the same cases. The different economic effects were caused by the energy volumes sold.
文摘In Faranah Province （Guinea）, the ratio of supply and demand of corn is approximately 1 ： 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn production by evaluating the effects of increasing doses of mineral fertilizers on the yield and economic profitability of corn. The experiment was conducted on a farm in Kamedankoude in a split plot with three replicates. Treatments included two varieties of maize （Perta and Kilissi113） and five doses of chemical fertilizers （D0=unfertilized control, Dl=300 kg NPKS＋200 kg urea. hm^2; D2=400 kg NPKS＋800 kg urea· hm^2; D3= 200 kg NPKS＋400 kg urea· hm^2 and D4=500 kg NPKS＋600 kg urea. hrn2）. The results showed that all the agronomic parameters increased with increasing dose of fertilizers, except for the number of ears per plant. The two varieties of corn tested produced similar yields. However, the profitability of mineral fertilizers decreased with increased doses and with value/cost ratio of 3. We recommended a mineral fertilizer dose of 300 kg NPKS ＋ 200 kg urea. The high prices of mineral fertilizers were often barriers to intensive maize cultivation, especially for low-income farmers. This study was a contribution to rational fertilization and adapted the socio-economic conditions of the region, with the background knowledge that most farmers in the regions earned low incomes.
基金supported by the University of Rijeka projects uniri-mladi-drustv-20-5.and uniri-drustv-18-228.
文摘The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impact of regulation on the efficiency and profitability of banks.This study aims to examine the impact of the introduction of two major regulatory changes(Basel II and Basel III)on bank performance,in terms of bank size and bank-specific and macroeconomic variables.A two-stage empirical anal-ysis was conducted on a sample of 433 European commercial banks over the 2006–2015 period.In the first stage,relative efficiency was calculated using non-parametric data envelopment analysis.In the second stage,the generalized method of moments was used to examine the impact of bank-specific and macroeconomic variables as well as regulation on bank performance,that is,profitability and efficiency.Consider-ing bank size,the results show a diverse impact of regulation on bank performance.Regarding large-and medium-sized banks,regulation positively affects both efficiency and profitability,whereas,for small banks,it negatively affects performance.The results suggest that larger banks have skillfully adapted to the new regulatory environment.In contrast,small banks have problems with profitability and efficiency because the new regulatory framework has imposed additional administrative and regulatory burdens.This could result in future failure or mergers with larger banks,resulting in a higher concentration in the banking sector and increased systemic risk.Our results strongly suggest that regulation should not be implemented equally for all banks;that is,on a one size fits all terms.A distinction between small and large banks when introducing new regulatory frameworks should be made if a reasonable level of competition is to be preserved.
文摘Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The persistent low production arises from poor cultivation methods,low soil fertility,poor quality seed,pests and diseases,among others.This study compared the profitability of improved cultivation methods for African indigenous vegetables(AIVs),i.e.,pure stand and in lines,versus traditional practice(mixing seeds of different AIVs then broadcast),both for leafy and seed production.The AIVs included:Nakati(Solanum aethiopicum L.),Bugga(Amaranthus blitum L.)and Jobyo(Gynadropsis gynandra L.),arranged in completely randomized(CR)design with three replicates.Results showed that Nakati was more profitable when grown for leafy compared to seed production with benefit:cost ratio(BCR)9.2 and 4.0 for leafy and seed,respectively.Bugga for seed was more profitable compared to leafy production(BCR 18.0 and 2.7 for seed and leafy,respectively).Growing Jobyo for seed was more profitable than leafy production(BCR 14.9,2.4 for seed and leafy,respectively).Growing indigenous vegetables(IVs)for seed in mixed broadcast system,out of the three IVs farmers stand to economically maximize benefits for one crop(BCR 0.9,1.7 and 10.2 for Bugga,Nakati and Jobyo,respectively)compared to pure stand and in lines(BCR 18.0,4.2 and 14.9 for Bugga,Nakati and Jobyo,respectively).Thus,famers stand to benefit more if they grow IVs as pure stand and in lines as opposed to mixed and broadcast,whether for leafy or seed production.
文摘Economically developed countries hold much of its total wealth as financial savings, and they should faster experience higher rates of overall economic growth in the long run. Given the level of income made by economic entities and according to such correlation, their propensity to save can be generated. As a clear reflection of the development of the financial sector, insurance companies as financial intermediaries, through the mobilization of savings, contribute to the development of the entire financial sector. Analyzing the performance of insurance companies in Serbia, CARMEL method will be applied, which includes indicators for the presentation of quantitative criteria for the purpose of monitoring and analyzing the profitability of insurance companies consisting of a model that is the current methodology of the MMF. In addition to traditional financial instruments, derivative securities are traded in financial markets, promoting the development of financial markets, such as options, which are generators of potential growth of profitability. The aim of this paper is to show the growth potential of profitability in insurance companies, as well as decreasing risks which are connected to the business activities by the use of options.
文摘A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigation water amounts and K fertilizer rates for increasing farmer profitability. Three irrigation amounts (70%, 100% and 120% ETo), three K fertilizer levels (57, 86 and 114 K2O kg/ha) and four intercropping patterns of sunflower and peanut (different spatial arrangements) were implemented. The experimental design was strip split plot with three replications. The results showed that there were no significant differences between 100% and 120% ETo on most of yield traits of the intercrops. The highest K fertilizer level had the highest values of most yield traits of the intercrops. The highest values of peanut and sunflower traits were obtained from intercropping sunflower with peanut, where peanut seeds were sown on both sides of all the raised beds, sunflower seeds were sown on one row above the raised beds and the following bed was left without intercropping (P1). Thus, to attain the highest yield of intercrops and water equivalent ratio (WER), the lowest competitive pressure and the highest farmer profitability, 120% ETo, 114 K2O kg/ha and P1 intercropping pattern should be implemented. This research found that the result of competitiveness was consistent with the result of profitability.
文摘The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study was multifinance company in Indonesia over period 2005-2007. The study uses an unbalanced panel data as a methodology. The result suggests that, the ownership of financial assets doesn＇t significantly affect multi-finance performances. This result indicates that multi-finance face difficult situation to generate profit from the credit given. And the result also suggests that all macroeconomic determinants affect multi-finance profitability, with more concern on inflation that have negative significant.
文摘The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean difference between adopters and non adopters ranged from 2819.63 Kg to 4766.59 Kg per unit area of production. For food security status, the average mean quantity of maize consumed at home level was 615.54 Kg with the mean difference ranged from 377.29 Kg to 474.68 Kg. For market participation, the average treatment effect of the treated (ATT) of quantity of maize sold was 11,694.24 Kg while the mean difference ranged from 7165.98 Kg to 9015.60 Kg. The Average Treatment Effect of the Treated market price was 213 Frws/Kg while the mean difference ranged from 44.51 Frws/Kg to 48.3053 Frws/Kg. The Average Treatment Effect of the Treated of farmer’s revenues for the users was 938,772 Frws/ha, however, the mean difference between adopters and non adopters ranged from 1,732,942 Frws to 2,007,039 Frws. The Average Treatment Effect of the Treated of farmer’s net farm income was 1,066,393 Frws while mean difference between users and non users ranged from 803,967 Frws to 854,141 Frws. For profitability analysis, the cost benefit ratio (CBR) was taken into account. The total benefit per unit area was 2,434,509 Frws and total average mean cost of 1,382,313 Frws and CBR = 1.761 > 1. The findings of this study will help the policy makers for deeper sector planning and also, it will facilitate other stakeholders to invest in irrigation technology to improve the livelihoods of Rwandan farmers and other surroundings.
文摘The profitability of broiler chicken production depends on many interrelated factors, such as the size of the farm, farming system, the genetic potential, feed price and the quality of chicken meat obtained as a final product, e.g., meat, and a strategy of their sales on the domestic and foreign market. Economic analysis were conducted in randomly selected farms growing commercial broilers, from April 2008 to March 2013 （28 cycles all together）, at the same time in three buildings, with 46 thousands to 54 thousands one-day chickens. In the analyzed period, broilers were reared for 35-50 d. The average slaughter body mass ranged from 2.36 kg to 2.99 kg with feed conversion ratio （FCR） 1.68 kg of feed/kg of body weight gain to 1.78 kg of feed/kg of body weight gain. Stock mortality at that time ranged from 3.5% to 6.4%. On the basis of macroeconomic data, a clear relationship between the increase in the period particularly from 2004 onwards, prices of feed 33.6% and the purchase price of livestock 22.5% in the case of the evaluated farms were found. These values were 27.9% and 31.7%, respectively. From the analysis of the relationship between different types of broiler production costs, it was concluded that the main determinant of the profitability of live poultry production was the cost of feed and first of all was the prices of feed. This means that the boom in live poultry production is variable, resulting in consequences for production and income.
