Template-Type: ReDIF-Article 1.0 Author-Name: Erwin WAUTERS Author-Workplace-Name: Social Science Unit, Institute for Agricultural and Fisheries Research (ILVO), Merelbeke, Belgium Author-Workplace-Name: Department of Veterinary Sciences, University of Antwerp, Antwerp, Belgium Author-Name: Frankwin van WINSEN Author-Workplace-Name: Social Science Unit, Institute for Agricultural and Fisheries Research (ILVO), Merelbeke, Belgium Author-Workplace-Name: Department of Agricultural Economics, Faculty of Bioscience Engineering, Ghent University, Ghent, Belgium Author-Name: Yann de MEY Author-Workplace-Name: Centre for Environmental Sciences, Hasselt University, Diepenbeek, Belgium Author-Name: Ludwig LAUWERS Author-Workplace-Name: Social Science Unit, Institute for Agricultural and Fisheries Research (ILVO), Merelbeke, Belgium Author-Workplace-Name: Department of Agricultural Economics, Faculty of Bioscience Engineering, Ghent University, Ghent, Belgium Title: Risk perception, attitudes towards risk and risk management: evidence and implications Abstract: The comprehensive risk analysis of a business such as farming entails questions on what is at stake, how important is the risk concern and how to deal with it. We performed a sequential mixed method, with the in-depth interviews in the first stage (n = 35), followed by a survey on the Flemish FADN (n = 614) in the second, to investigate the farmers' risk perception, the attitudes towards risk and the perceived usefulness of the risk management strategies. We find that, rather than the short-term volatility in prices, the longer term co-evolution of expenses versus receipts is of a major concern to farmers, next to the land availability and the policy risks. Farmers are shown to be only slightly risk averse, rather risk neutral even. Further, our results suggest that farmers do not consider extensively studied risk management strategies such as contracts, futures and insurances, a valid option for their farm, and put more faith in internal strategies such as the debt management, the liquidity management and diversification. Last, risk management is to a substantial degree performed at the household level, rather than at the farm level, with strategies such as cutting the private expenses and the off-farm employment. These results hardly differ according to the farm and farmer characteristics. Keywords: FADN, mixed method, perceptions, risk, risk attitudes, risk management Journal: Agricultural Economics Pages: 389-405 Volume: 60 Issue: 9 Year: 2014 DOI: 10.17221/176/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/176/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201409-0001.txt Handle: RePEc:caa:jnlage:v:60:y:2014:i:9:id:176-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Gil H. PARK Author-Workplace-Name: Daegu University, Gyeongsan, South Korea Author-Name: Deokho CHO Author-Workplace-Name: Daegu University, Gyeongsan, South Korea Title: An exploratory analysis of payoffs for the lifetime mortgage of farming assets and its policy implications Abstract: This study discusses and calibrates a pioneered model of estimating the payoffs for the farming-asset pension (FAP), which is to comprehensively integrate the components of farming assets into the recently implemented farmland pension (FP) in South Korea. The FP was introduced first in the world so that farmland may be liquidated by the lifetime mortgage of farmland. However, it differs from conventional lifetime or reverse mortgages because its annuity program is implemented by the government according to the actuarial model whose variables are adjustable from the viewpoint of the elderly welfare. By introducing a simple standard of comprehensive farming assets into the FP model, the FAP model augments this social security measure, the step-by-step improvement of which is also expected to formulate the future policy implications of regional economic revitalisation as well as the elderly welfare for other countries. Keywords: Farming-Asset Pension (FAP), reverse mortgage, rural elderly, farmland Journal: Agricultural Economics Pages: 406-419 Volume: 60 Issue: 9 Year: 2014 DOI: 10.17221/189/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/189/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201409-0002.txt Handle: RePEc:caa:jnlage:v:60:y:2014:i:9:id:189-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Jindřiška KOUŘILOVÁ Author-Workplace-Name: Faculty of Economics, University of South Bohemia, České Budějovice, Czech Republic Author-Name: Jaroslav SEDLÁČEK Author-Workplace-Name: Faculty of Economics and Administration, Masaryk University, Brno, Czech Republic Title: Environmental accounting and the FADN as a basis of model for detecting the material flow cost accounting Abstract: The quality of the reported accounting data and the way these data are used are becoming more and more risky aspects of business management. Many instruments are already used to identify the creative accounting and the frauds and new ones are still being searched for. One of the suitable approaches is the use of the database Farm Accountancy Data Network (FAND) and environmental indicators. Monitoring of material balances and wastes in the form of environmental costs and also parts of the material balances can be a basis for the creation of the model for the detection of the material flow cost accounting. The model uses other balance areas as well: financial, energy-related and legislative. The paper presents a proposal of the model and its possible use for the discussion. The proposed model was applied to the real conditions of two real production companies with trading activities. Its strengths and weaknesses are evaluated. Keywords: creative accounting, environmental costs, fraud in accounting, fraud detection models, material flow in cost accounting Journal: Agricultural Economics Pages: 420-429 Volume: 60 Issue: 9 Year: 2014 DOI: 10.17221/79/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/79/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201409-0003.txt Handle: RePEc:caa:jnlage:v:60:y:2014:i:9:id:79-2013-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Renata KUČEROVÁ Author-Workplace-Name: Department of Management, Faculty of Business and Economics, Mendel University in Brno, Brno, Czech Republic Title: Factors of the attractiveness of Slovak wine market and their influence on the Czech wine export to Slovakia Abstract: The contribution follows the development of Czech wine exports to Slovakia, depending on the development of the wine industry attractiveness in Slovakia. Wine export from the Czech Republic to Slovakia in the terms of volume and value of exports, both globally and in the division of export bulk and bottled wine, is confronted with the development of factors influencing the wine sector attractiveness in Slovakia. The Slovak wine market is a market in the phase of growth, the wine consumption per capita in 2011 reached 14.7 Lt.; the domestic production covered only 46% of the domestic consumption. The level of the industry concentration is high, the 6 largest companies produce more than 18.5 mill. Lt. of wine - 50% of the total domestic production. Wine legislation is comparable to the Czech legislation, the purchasing power of the customers shows a positive development, but the cheap table wine imports still represent more than 50% of the total domestic consumption. The opportunity for Czech exporters is the factor represented by the size and growth of the market and the legislation, too. The situation is rather more positive for the re-export of cheap wine from other countries than the direct export of Czech wine to Slovakia in case of other analyzed factors. Keywords: attractiveness, bottled wine, bulk wine, exporter, Slovak wine sector, trend Journal: Agricultural Economics Pages: 430-439 Volume: 60 Issue: 9 Year: 2014 DOI: 10.17221/130/2013-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/130/2013-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201409-0004.txt Handle: RePEc:caa:jnlage:v:60:y:2014:i:9:id:130-2013-AGRICECON