scholarly journals Corporate Financial Risk Management Interventions in the Organic Agri-Food Chains

2021 ◽  
Vol 2 (2) ◽  
pp. p22
Author(s):  
Licia Scarciofalo

This study arises from the need to propose an alternative solution to existing hedging methods to all companies interested in hedging the price risk of raw materials. The research focuses mainly on the actors of the agri-food supply chains, in particular the organic sector, given the growing trend of the cultivation methodology and the need to protect entrepreneurs involved in short-chain spinneret who have less possibility of relieve higher costs incurred to ensure the sustainability of the product. However, our analysis envisages a customizable hedging method for any company that intends to protect itself from the price fluctuations of the commodity that represents the inherent nature of its business. The technique consists in the construction of specific contracts (in particular, derivative financial instruments) by investment banks or commercial banks oriented to the corporate segment that offer this service. Personalization is achieved by calibrating the constituent elements of the derivative on the basis of hedging needs. The parameterization is carried out by replicating the contractual specifications of the main futures on commodities listed on regulated markets. This will allow the creation of a combination of option contracts listed on the over-the-counter market in an overall strategy aimed at medium-long term hedging.

Author(s):  
N. S. Levgerova ◽  
Е. S. Salina ◽  
I. А. Sidorova

The results of the technological assessment of new apple, cherry, black currant, red currant and gooseberry cultivars of VNIISPK breeding for the suitability for the natural food production are given. As a result, the cultivars that are promising for cultivation in raw plantings have been selected. For the production of raw materials in the juice industry, apple cultivars with a high juice yield and content of soluble solids higher than 10.0% were selected: ‘Bolotovskoye’ (Vf), ‘Candil Orlovsky’ (Vf), ‘Osipovskoye’ (3x), ‘Rozhdestvenskoye’ ((Vf + 3x), ‘Zaryanka’ (Vm), ‘Priokskoye’ ((Vf + Co), etc. Based on the long-term study of cultivars for their suitability for compote, jam and jelly, the cultivars that are most suitable for these types of processing are identified. It has been found that taking into account the daily needs of vitamins C and P as the most important antioxidants, all processed products from black currant can serve as their sources, all processed products from cherries, as well as apple juice and gooseberry marmalade can serve as a source of P-active compounds. All columnar apple cultivars as well as ‘Bolotovskoye’, ‘Rozhdestvenskoye’, ‘Veteran’, ‘Imrus’, etc. show high suitability for the production of apple chips. Cherry cultivars ‘Rovesnitsa’, ‘Putinka’, ‘Podarok Uchitelyam’ and ‘Novella’ are suitable for dried fruit. Based on the long-term studies of the technological qualities of the VNIISPK gene pool, a new generation assortment has been formed that has an optimal combination of chemical and technological indicators of fruits that meet modern technological requirements and are suitable for cultivation in the raw plantations of Central Russia.


Author(s):  
Florian Ielpo

This chapter covers the economic fundamentals of commodity markets (i.e., what shapes the evolution of the price of raw materials) in three steps. First, it covers the theories explaining why the futures curve can be upward or downward sloping, an essential element for commodity producing companies. The evolution of inventories and hedging pressures are the two dominant sources of explanation. Second, the chapter reviews the fundamentals of commodity spot prices: technologies, supply, demand, and speculation. Production costs draw the long-term evolution of prices, but demand and supply shocks can trigger substantial variations in commodity prices. Third, the chapter presents how commodity prices interact with the business cycle. Commodities are influenced by the world activity but can also have a material impact on it.


Author(s):  
Hunter M. Holzhauer

This chapter begins with a breakdown of recent growth trends for the overall commodities market. However, the long-term future of the market will heavily depend on three pressing issues: excess supply, increased regulations, and algorithmic trading. The section on excess supply explores how traders are changing strategies to adjust to the current imbalance between supply and demand, especially in the steel industry, and how that imbalance might change in the future based on global population trends and climate change concerns. The next section examines several regulatory trends, including the dramatic exodus of some investment banks from certain segments of the commodities market followed by a section focusing on how algorithmic trading is influencing how commodities are traded. A discussion of potential scenarios for the commodities market follows. The chapter concludes by examining a few ways in which the market and commodity traders may both survive and even thrive in the future.


2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 685-685
Author(s):  
Christine Bishop ◽  
Karen Zurlo

Abstract Even with forethought and planning, a lot can threaten economic wellbeing in the years ahead for older adults retiring at typical retirement ages. Although results for any individual cannot be predicted with certainty, some risks are quantifiable: for example, mortality/ longevity and disability risks are reasonably well-defined. Risk of dementia is not so well understood, and may be changing. Financial risk might be seen as manageable, but older adults relying on retirement income sources can be especially vulnerable to unprecedented shocks to the general economy. We consider four aspects of this dilemma. First, older adults retiring with outstanding debts may have difficulty weathering financial shocks. Our first presentation provides up-to-date information about trends in indebtedness at older ages, especially focusing on newly salient types of indebtedness: medical and student loan debt, and debt incurred to smooth finances in the recent recession. Stewardship of finances during retirement can be a challenging personal management undertaking. Our second presentation will consider how dementia can complicate this process. Protection against outliving one’s resources is more complex and costlier in the era of defined contribution retirement accounts. Our third presentation will discuss strategies to combine retirement assets, including Social Security claiming, to hedge longevity risk. Finally, needs for long-term services and supports may be met with either paid or informal (family) care, or both, but cannot be predicted with certainty. Our fourth presentation examines the long-term impacts on families due to the difficulty in insuring against this risk. Economics of Aging Interest Group Sponsored Symposium.


2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Jenny Urbina ◽  
Tara Chestnut ◽  
Jennifer M. Allen ◽  
Taal Levi

AbstractUnderstanding how a pathogen can grow on different substrates and how this growth impacts its dispersal are critical to understanding the risks and control of emerging infectious diseases. Pseudogymnoascus destructans (Pd) causes white-nose syndrome (WNS) in many bat species and can persist in, and transmit from, the environment. We experimentally evaluated Pd growth on common substrates to better understand mechanisms of pathogen persistence, transmission and viability. We inoculated autoclaved guano, fresh guano, soil, and wood with live Pd fungus and evaluated (1) whether Pd grows or persists on each (2) if spores of the fungus remain viable 4 months after inoculation on each substrate, and (3) whether detection and quantitation of Pd on swabs is sensitive to the choice to two commonly used DNA extraction kits. After inoculating each substrate with 460,000 Pd spores, we collected ~ 0.20 g of guano and soil, and swabs from wood every 16 days for 64 days to quantify pathogen load through time using real-time qPCR. We detected Pd on all substrates over the course of the experiment. We observed a tenfold increase in pathogen loads on autoclaved guano and persistence but not growth in fresh guano. Pathogen loads increased marginally on wood but declined ~ 60-fold in soil. After four months, apparently viable spores were harvested from all substrates but germination did not occur from fresh guano. We additionally found that detection and quantitation of Pd from swabs of wood surfaces is sensitive to the DNA extraction method. The commonly used PrepMan Ultra Reagent protocol yielded substantially less DNA than did the QIAGEN DNeasy Blood and Tissue Kit. Notably the PrepMan Ultra Reagent failed to detect Pd in many wood swabs that were detected by QIAGEN and were subsequently found to contain substantial live conidia. Our results indicate that Pd can persist or even grow on common environmental substrates with results dependent on whether microbial competitors have been eliminated. Although we observed clear rapid declines in Pd on soil, viable spores were harvested four months after inoculation. These results suggest that environmental substrates and guano can in general serve as infectious environmental reservoirs due to long-term persistence, and even growth, of live Pd. This should inform management interventions to sanitize or modify structures to reduce transmission risk as well early detection rapid response (EDRR) planning.


2021 ◽  
pp. 1-13
Author(s):  
Trong Vu ◽  
Tran Bao ◽  
Carsten Drebenstedt ◽  
Hien Pham ◽  
Hoai Nguyen ◽  
...  

Agronomy ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 1540
Author(s):  
Bence Fülöp ◽  
Bálint Pacsai ◽  
Judit Bódis

Semi-natural grasslands were previously established through traditional land use and maintained by active management, but their extension nowadays is declining rapidly, particularly in areas that also have tourism potential. In parallel, the conservation value of the remaining areas is increasing. The shore of Lake Balaton is a particularly good example, as Lake Balaton is an area highly affected by tourism, yet there have been valuable habitats able to survive and provide refuge for many vulnerable, protected species. Fortunately, we have reliable information about the vegetation of the area from two decades ago. Comparing these data with our recent surveys we investigated the changes in habitats and the distribution of protected plant species in connection with the active conservation treatments such as grazing or cutting. Our results show that in areas where treatments are still ongoing, protected plant species are more likely to survive, or even other species can appear, which is in clear contrast with conditions experienced in abandoned areas, where at least seven protected species have disappeared. According to our results, minor, but appropriately chosen and well-executed management interventions, can help in the long-term maintenance of species-rich habitats and improving the conservation status of threatened species.


Author(s):  
Olena Danylova ◽  
Marina Serdyuk ◽  
Liudmyla Pylypenko ◽  
Victor Pelykh ◽  
Inna Lopotan ◽  
...  

Author(s):  
Douglas Cumming ◽  
Sofia Johan

The worldwide landscape for raising firm capital from Initial Public Offerings (IPOs) has significantly evolved over the last few decades. This introductory chapter reviews more recent research on initial public offerings. The Oxford Handbook of IPOs comprises twenty-nine chapters from authors around the world. The chapters describe the economics of going public, short- and long-term performance of IPOs, regulation of IPOs, IPOs versus acquisitions, reverse mergers, special purpose acquisition companies, service providers including investment banks and auditors, venture capital funds, international differences in IPOs, and crowdfunding. The Introduction summarizes the chapters that appear in the Handbook and highlight research trends on topic.


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