Template-Type: ReDIF-Article 1.0 Author-Name: Ľuboslav SZABO Author-Workplace-Name: Faculty of Business Management, University of Economics, Bratislava, Slovak Republic Author-Name: Miroslav GRZNÁR Author-Workplace-Name: Faculty of Business Management, University of Economics, Bratislava, Slovak Republic Title: Farms in the less favoured area conditions in Slovakia Abstract: The paper deals with the management of agricultural businesses that operate in low-production conditions known as the LFA (Less Favoured Areas). Under these conditions, there are more than half of farms - legal entities. The past analyses have suggested that these farms are gaining more support funds, but objectively their costs are higher. The disparity is reflected in almost half of the loss-making farms, with worse results achieved more by agricultural cooperatives than by business companies. In the terms of the measures implemented in the rural development plan, the LFA farms apply multifunctional production structures. Slovak farms operating in the LFA conditions in the EU do not achieve the performance of the average LFA farms in the EU-25; however, they neither receive the amount of supports received by these farms in the Union. Keywords: agrarian policy, disparity results of farms, LFA farms position in the EU, LFA - Less Favoured Areas, strategy of farms Journal: Agricultural Economics Pages: 543-550 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/122/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/122/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201312-0001.txt Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:122-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Jana LOSOSOVÁ Author-Workplace-Name: Department of Accounting and Finances, Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic Author-Name: Radek ZDENĚK Author-Workplace-Name: Department of Accounting and Finances, Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic Title: Development of farms according to the LFA classification Abstract: The aim of the paper is to assess the situation and development of Czech agriculture by the production and economic ratios of a sample of farms. The development is evaluated using a database of farms from the Czech Republic since 2000, divided by the share of land included in the LFA. The year 2011 revealed a significant improvement in economic indicators over the previous year. A positive profit appeared in 95% of enterprises and economic results approached the results of 2007. An important trend is the reduction in the number of workers, when in 2011 the number of workers was equal to 70% to that in 2000, while labour productivity is increasing annually by an average of 7%. In the structure of production, the average farm revealed a revenue growth of crop production, the revenue from livestock production was declining, although the opposite trend appeared in mountain areas. In all categories of farms, there is a growing dependence on subsidies. Although the year 2011 was the second most productive since 2000, the profit after deducting subsidies was reached by 13% of farms only. Keywords: labour productivity, LFA, profit/loss, profitability, subsidies Journal: Agricultural Economics Pages: 551-562 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/66/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/66/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201312-0002.txt Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:66-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Abdullah EJAZ Author-Workplace-Name: Faculty of Business, Economics and Policy Studies, University Brunei Darussalam, Gadong, Brunei Darussalam Author-Name: Petr POLAK Author-Workplace-Name: Faculty of Business, Economics and Policy Studies, University Brunei Darussalam, Gadong, Brunei Darussalam Title: Short term momentum profits and their source: a business indicators' approach Abstract: The main objective of the paper is to seek the source that can explain the momentum profits because the source of momentum profits has been disputed. The secondary objective of the paper is to affirm the findings of the author about the presence of the short term momentum effect and to reaffirm the notion that CAPM cannot explain the momentum profits supported by a large number of authors. For the primary objective, a set of variables has been chosen, that fall under the category of "Business Indicators", to explain the momentum profits. It is found that a variable "Starting a Business" could explain the source of the momentum profits whereas other variables may have a negligible or no influence over the momentum profits. It is also reaffirmed that a short term momentum effect has been found in 14 stock markets and the CAPM could not explain the momentum profits. This study is not conclusive due to the limitation of data but it does give a source of the momentum profits and it sheds light on the future research about the sources that can explain momentum profits in a great detail. Keywords: business indicators, short term momentum effect, "doing business" report, CAPM, momentum profits Journal: Agricultural Economics Pages: 563-577 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/50/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/50/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201312-0003.txt Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:50-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Yu JIANG Author-Workplace-Name: School of Business, Nanjing University, Nanjing, Jiangsu, China Author-Name: Yu WANG Author-Workplace-Name: School of Business, Nanjing University, Nanjing, Jiangsu, China Title: Is China's domestic agricultural market influenced by price fluctuations of the world agricultural commodities in the short-run? Abstract: After entry into the WTO, China's domestic agricultural market is more and more closely integrated into the world market. Recently, a significant price fluctuation of agricultural commodities in the global market has increased concerns over its impact on the economic stability in those developing countries such as China, which has a large import and export of agricultural commodities every year. This paper attempts to study the short-term impact from price fluctuations of the world agricultural commodities upon the China's domestic agricultural market by investigating the dynamic correlation between the price change in the world and Chinese market in the copula framework. Our findings suggest a weak but strengthening short-run impact with an asymmetric nature. At the same time, diversified short-run impacts are observed in four main agricultural commodity markets. Empirical results show that the world price fluctuation has a volatile but decreasing influence on the China's rice market. This volatility of price impact is also observed in the wheat market but it has an escalating trend. The corn market experiences an intensified price shock with a distinct stage characteristic and the soybean market is under the strongest influence from the international price fluctuation. Keywords: agriculture, copula, dynamic correlation, market integration, short-term impact Journal: Agricultural Economics Pages: 578-589 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/54/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/54/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201312-0004.txt Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:54-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: editors Title: VOLUME 59, CONTENTS Journal: Agricultural Economics Pages: 590-592 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/7156-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/7156-AGRICECON.html File-Format: text/html Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:7156-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: editors Title: Authors index Journal: Agricultural Economics Pages: 593-594 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/7157-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/7157-AGRICECON.html File-Format: text/html Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:7157-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: editors Title: List of reviewer Journal: Agricultural Economics Pages: 595 Volume: 59 Issue: 12 Year: 2013 DOI: 10.17221/7158-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/7158-AGRICECON.html File-Format: text/html Handle: RePEc:caa:jnlage:v:59:y:2013:i:12:id:7158-AGRICECON