This paper analyzes the variance in accounting profitability within the European food industry. Based on a large panel data set, the variance in return on assets (ROA) is decomposed into year, country, industry, and firm effects. Further on, we include all possible interactions between year,...

Commodity and energy prices have exhibited an unprecedented increase between October 2006 and July 2008, only to fall sharply during the last months of 2008. Many explanations have been offered to this phenomenon, including steadily increasing demand from China and India, large mandated...

While economies of scope of lending and mobilizing deposits in banking are justifiedtheoretically (Diamond, 1984) and found empirically (see Saunders, 1999), in microfinance, theexistence and the magnitudes of scope economies has not been investigated. We use a semiparametric smooth coefficient...

Relative change in agricultural prices determines farmers` investment decisions, productivity and income. Thus, understanding the factors that influence agricultural prices is fundamental for sustainable growth in this sector and the rest of the economy. This paper investigates the short- and...

In this study, we apply directed acyclic graphs and search algorithm designed for timeseries with non-Gaussian distribution to obtain causal structure of innovations from an errorcorrection model. The structure of interdependencies among six international stock markets isinvestigated. The...

As a consequence of the expressive changes in global economy those happen from the end of 20th century the structure of the national economy’s sectors internally the structure of the ventures changes also. The (capital) resource gap is said to be the most common obstacle to development and...

In the course of cost-benefit analysis of management information systems such peculiar elements can be found on both sides the interpretation of which might be a difficult task.Looking at the costs the generally known cost elements are found (TCO – Total Cost of Ownership): investment costs...

The above methods of assessment are based on different methodological and mathematical approaches; therefore, they yield slightly different results, which can be used to complement each other and thus gain a more complex picture about the risk of the investment. Calculating break-even points and...

Cash and futures prices should reach equality, or converge, upon contract maturity. Traders can impose convergence during the delivery month througharbitrage behavior: either making or taking delivery on futures contracts. If convergence is not predictable, a futures market fails to provide a...

The influence of climate variability on agricultural production and financial risks faced by an individual or an institution has been the center of the public discussion in the recent years. The changing weather patterns and environmental conditions could cause substantial unpredicted economic...