Template-Type: ReDIF-Article 1.0 Author-Name: Martina RUSNÁKOVÁ Author-Workplace-Name: Department of Finance, Faculty of Economics, Technical University of Košice, Slovak Republic Title: Commodity price risk management using option strategies Abstract: In the world of increasing price volatility, it is more important than ever to understand how to manage the price risk. The paper deals with the price risk management issues associated with commodities. Using options is performed by an analysis of hedging strategies in the commodity market. The authors focus on the application of the vanilla option strategies to risk management in order to point out the advantages and disadvantages of each hedging strategy. Based on the general expressions of selling price intervals, there are modelled various hedged scenarios of wheat. The authors look at the wheat option contracts traded on the Chicago Board of Trade. The comparative comparison of the option hedging strategies has shown the best results for the commodity seller who hedges against a price decline. Keywords: commodity market, hedging strategies, vanilla options Journal: Agricultural Economics Pages: 149-157 Volume: 61 Issue: 4 Year: 2015 DOI: 10.17221/101/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/101/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201504-0001.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:4:id:101-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Pavel ŽAMBERSKÝ Author-Workplace-Name: Faculty of International Relations, University of Economics, Prague, Czech Republic Author-Name: Radek ČAJKA Author-Workplace-Name: Faculty of International Relations, University of Economics, Prague, Czech Republic Title: Taxation of exports - theory and practice Abstract: Taxation of export has been used by many countries. As of June 2014, there are 53 member countries of the WTO using export tariffs or taxes. Theoretically, a large country which is able to influence the world price of the given commodity could be better off by the export tax levied on it. Practically, there are many problems with implementing this tool of trade policy. Empirical case studies have shown that usually the objectives of this policy were not accomplished. The key problem connected with the export taxation of primary agricultural products is that it can even harm the poor because of the significant share of these products in their consumption. From the point of the world economy as a whole, this policy leads to distortions and efficiency losses. Therefore, it can never be the first-best policy. Keywords: developing countries, efficiency loss, primary agricultural products Journal: Agricultural Economics Pages: 158-165 Volume: 61 Issue: 4 Year: 2015 DOI: 10.17221/219/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/219/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201504-0002.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:4:id:219-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: K.M. Thomé Author-Name: A.B.P. Soares Title: International market structure and competitiveness at the malted beer: from 2003 to 2012 Abstract: Barley malt beer is the world's most consumed alcoholic drink and its industry represents a multibillion dollar international trade. The paper's main goal is to contribute with the analysis of this industry in terms of its international competitiveness and market structure. It utilizes the data regarding exports and imports for malted beer available in the International Trade Centre's Trade Map database and it refers to the period of ten years (2003-2012). The method used to expose the industry's competitiveness and market structure consisted in the calculation of (i) Revealed Comparative Advantage (RCA); (ii) Relative Position of Market (RPM); (iii) Hirschman-Herfindahl index (HHI) and (iv) Net Export Index (NEI). The findings show a high concentration for both the import and export markets and the detainers of the largest shares are: (1) the United States of America for imports and (2) Mexico, the Netherlands, Belgium and Germany for exports. It was possible to identify the players in the market structure based on exporters, importers and both importers and exporters, stressing their position in the market. Keywords: international market structure, international competitiveness, malted beer Journal: Agricultural Economics Pages: 166-178 Volume: 61 Issue: 4 Year: 2015 DOI: 10.17221/189/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/189/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201504-0003.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:4:id:189-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Sandeep SINGH Author-Workplace-Name: School of Management Studies, Thapar University, Patiala, India Author-Name: Ravi KIRAN Author-Workplace-Name: School of Behavioral Sciences and Business Studies, Thapar University,, Patiala, India Author-Name: Dinesh GOYAL Author-Workplace-Name: Department of Biotechnology & Environmental Sciences Thapar University, Patiala, India Title: Identification of key factors for enhancing competitiveness: an exploratory study of the selected agri-biotech firms of Punjab in India Abstract: The present study covers empirical research on the selected Agri-Biotech firms of Punjab. The sample has been chosen from the state of Punjab covering the sectors Food Processing Industry, Fertilizer and Pesticides Industry. On the basis of factor analysis, the study has also identified key factors influencing competitiveness. These are Threat of new competition; Threat of substitute products or services; Bargaining power of suppliers; Intensity of competitive rivalry; Bargaining power of customers; Rivalry among existing firms. The study also tries to evaluate the findings on the basis of the author-factor matrix. The aim is to identify the key factors influencing competiveness. It analyses the difference in competitive factors on the basis of the nature of the industry and on the basis of scale of the firms. Then finally it tries to determine the key competitive factors influencing the market share. The results indicate that the Threat of new competition and Threat of substitutes/services emerge as the important predictors. Intensity of competitive rivalry; Preparedness for Competition; and Bargaining power of suppliers also emerge as significant predictors. These variables explain 79.6% of variation in the model. Keywords: bargaining power, suppliers, competitive rivalry Journal: Agricultural Economics Pages: 179-188 Volume: 61 Issue: 4 Year: 2015 DOI: 10.17221/26/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/26/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201504-0004.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:4:id:26-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Javed SHEIKH Author-Workplace-Name: Department of Social and Development Sciences, Faculty of Human Ecology, University Putra, Serdang, Malaysia Author-Workplace-Name: Department of Rural Sociology, Faculty of Agricultural Social Sciences, Sindh Agriculture University, Tandojam, Pakistan Author-Name: Ma'rof REDZUAN Author-Workplace-Name: Department of Social and Development Sciences, Faculty of Human Ecology, University Putra, Serdang, Malaysia Author-Name: Asnarulkhadi Abu SAMAH Author-Workplace-Name: Department of Social and Development Sciences, Faculty of Human Ecology, University Putra, Serdang, Malaysia Author-Name: Nobaya AHMAD Author-Workplace-Name: Department of Social and Development Sciences, Faculty of Human Ecology, University Putra, Serdang, Malaysia Title: Identifying sources of social capital among the farmers of the rural Sindh province of Pakistan Abstract: Social capital is the spirit of social relations. While it contains social resources, and is interrelated with other forms of capitals, there are some delusions among the scholars over its generation. The study was conducted to identify the factors possibly involved in the fluctuation of social capital, in which the structural social capital, bonding social capital and linking social capital of the water-user associations were measured, and it was linked to various socioeconomic, demographic and farm characteristics of farmers. The multiple linear regression analysis revealed that the social capital was significantly influenced by the canal water availability, age, the drainage system availability, land holding, the farming experience and the family size. Furthermore, the canal water availability was found the most dominant indicator in relation to social capital to make it dynamic, in the rural Sindh province of Pakistan. Keywords: rural community development, socio-economic status, water management Journal: Agricultural Economics Pages: 189-195 Volume: 61 Issue: 4 Year: 2015 DOI: 10.17221/144/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/144/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201504-0005.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:4:id:144-2014-AGRICECON