Template-Type: ReDIF-Article 1.0 Author-Name: Jan HRON Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic Author-Name: Tomas MACAK Author-Workplace-Name: Department of Management, Faculty of Economics and Management, Czech University of Life Sciences Prague, Prague, Czech Republic Title: Mixture design for food packaging in a modified atmosphere Abstract: In the past, food packaging was primarily used to support product sales and protect food from contamination or environmental effects which would reduce the life of the food. According to the World Health Organization (WHO), in the United States, from 6.5 to 33 million cases of food borne diseases occur each year, and nearly 9000 of these result in death. For this reason, we use active and intelligent packaging to extend the shelf life of food and improve its quality. This article aims to create an optimisation scheme for an optimum blend preference in food packaging with an active atmosphere. This will be accomplished by setting criteria for the production of antimicrobial food packaging. Keywords: antimicrobial technology, shelf life of food, simplex lattice design, response optimiser Journal: Agricultural Economics Pages: 393-399 Volume: 61 Issue: 9 Year: 2015 DOI: 10.17221/182/2015-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/182/2015-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201509-0001.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:9:id:182-2015-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Monika HARČARIKOVÁ Author-Workplace-Name: Department of Finance, Faculty of Economics, Technical University of Košice, Košice, Slovak Republic Title: Proposal of new outperformance certificates in agricultural market Abstract: The paper analyses new structured financial products in agricultural market with the aim to gain in the declining trends. There are presented the reverse outperformance and the capped reverse outperformance certificates from the point of view of their investors and provided detailed descriptions of the profit functions in the analytical form. It is shown that the payoff of these certificates is an engineered from a combination of the traditional financial instrument and derivative products, especially the vanilla options. Further, there are developed formulas for pricing of these certificates and specified the conditions under which the issuer is profitable in the primary market. Also the profitability for the individual investor at the future trade date is presented. Several certificates for these types of certificates associated with the soybean futures contracts are designed and compared with the best results for the investor. The presented approach is based on the soybean options contracts traded on the Chicago Board of Trade. Keywords: capped reverse outperformace certificate, commodity vanilla options, option pricing, reverse outperformace certificate Journal: Agricultural Economics Pages: 400-409 Volume: 61 Issue: 9 Year: 2015 DOI: 10.17221/199/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/199/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201509-0002.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:9:id:199-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Ayhan KAPUSUZOGLU Author-Workplace-Name: Department of Banking and Finance, Business School, Yildirim Beyazit University, Ankara, Turkey Author-Name: Merve KARACAER ULUSOY Author-Workplace-Name: Department of Marketing, Business School, Yildirim Beyazit University, Ankara, Turkey Title: The interactions between agricultural commodity and oil prices: an empirical analysis Abstract: The purpose of the study is to analyse the short and long-term relationships between the world oil prices (Europe Brent Spot Price and West Texas Intermediate Spot Price) and the agricultural commodity prices (Wheat, Corn and Soybeans). The analysis is based upon the data set covering the monthly period of 1990.01-2014.05. According to the Johansen co-integration tests results, there are no long-run relationships between each agricultural commodity prices and world oil prices at the 5% significance level. On the other hand, according to the results of the Granger causality tests, there are uni-directional causality relationships from the Europe Brent and West Texas Intermediate oil prices to Wheat at the 1% and 5% significance level respectively, to Corn at the 1% and 1% significance level respectively and to Soybeans at the 1% and 5% significance level respectively. No causality relationship from the agricultural commodity prices to world the oil prices has been observed. Keywords: causality, co-integration, commodity prices, world energy prices Journal: Agricultural Economics Pages: 410-421 Volume: 61 Issue: 9 Year: 2015 DOI: 10.17221/231/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/231/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201509-0003.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:9:id:231-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Debdatta PAL Author-Workplace-Name: Indian Institute of Management Raipur, Raipur, India Author-Name: Subrata Kumar MITRA Author-Workplace-Name: Indian Institute of Management Raipur, Raipur, India Title: Impact of price realization on India's tea export: Evidence from Quantile Autoregressive Distributed Lag Model Abstract: The quantile autoregressive distributed lag model of Galvao et al. (2013) was employed to assess the impact of price realization on India's tea export. The results of the QADL varied significantly from the conditional mean estimates. It was found that the tea export from India had autoregressive impact, and that production and export price realization had asymmetric relationship with India's tea export that varied over quantiles. Keywords: export price realization, Quantile Autoregressive Distributed Lag model, India Journal: Agricultural Economics Pages: 422-428 Volume: 61 Issue: 9 Year: 2015 DOI: 10.17221/209/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/209/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201509-0004.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:9:id:209-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Lin LIANG Author-Workplace-Name: School of Economics and Management, Tongji University, Shanghai, P.R. China Author-Name: Shanlang LIN Author-Workplace-Name: School of Economics and Management, Tongji University, Shanghai, P.R. China Author-Name: Zuoxiong ZHANG Author-Workplace-Name: School of Economics and Management, Tongji University, Shanghai, P.R. China Title: Effect of the family life cycle on the family farm scale in Southern China Abstract: This study empirically analyses the impact of family life cycles on the family farm scale of rural households in Southern China. The ordered Probit modelling is applied to examine the survey data that comprise 2040 valid questionnaires distributed in 88 villages of the Fujian province in China. The family life cycle has a remarkable influence on the family farm scale as a whole. The numbers of children and farming people in a family have a positive significant effects on the family farm scale. In addition, the individual characteristics of female householders have significant effects on the family farm scale. Meanwhile, the family characteristics differ at five defined stages of the family life cycle. The study covers the gap in the literature on the effects of family structure on the rural household economic behaviour, in particular, on the impact of the family life cycles on the family farm scale. Keywords: farmland scale, ordered Probit modelling, rural Chinese households Journal: Agricultural Economics Pages: 429-440 Volume: 61 Issue: 9 Year: 2015 DOI: 10.17221/68/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/68/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201509-0005.txt Handle: RePEc:caa:jnlage:v:61:y:2015:i:9:id:68-2014-AGRICECON