Purpose – The purpose of this paper is to find factors that explain why some enterprises hedge but others do not. The authors' analysis relies on Heckman model (a probit and Tobit model) with the data obtained from questionnaires collected from Chinese enterprises. Given the fact that only a...

Purpose – The purpose of this paper is to find factors that explain why some enterprises hedge but others do not. The authors' analysis relies on Heckman model (a probit and Tobit model) with the data obtained from questionnaires collected from Chinese enterprises. Given the fact that only a...

Purpose – The purpose of this paper is to identify factors that affect farm acceptance of the new seeds. This paper develops a Bivariate Probit model with adjusted sample selection bias to analyze Chinese farmers' sequential decision‐making process in their adoption of plant new varieties...