Template-Type: ReDIF-Article 1.0 Author-Name: Zuzana LAJDOVA Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia Author-Name: Jan LAJDA Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia Author-Name: Peter BIELIK Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Slovak University of Agriculture in Nitra, Nitra, Slovakia Title: The impact of the biogas industry on agricultural sector in Germany Abstract: The whole concept of the biogas industry is an ongoing issue particularly because of its differences from the original purpose and the criticism about causing too many externalities. Its high costs and low efficiency compared to the traditional cheaper sources belong to the main problems. This issue is serious especially currently - at the times of a slow economic growth when a switch to renewable energy sources means yet another harm to the competitiveness of the EU producers as it increases their production costs. Another weak point is that the silage maize as the most common input material for the anaerobic digestion leads to the displacement of the food crops production and it is considered to be also a contributor to the food price increase. Biogas plants also compete for input with the livestock production that ends up in the biogas plants instead of e.g. feeding cows. The aim of the paper is to investigate the long-run relationship between the biogas industry and the agricultural sector in Germany - a leader in the technology with the most developed biogas sector among the European Union member states. The econometric analysis based on the Vector Correction Model confirms the stated assumptions and concludes that the production of biogas via the anaerobic digestion has a significant impact on agriculture in Germany. Keywords: agriculture, anaerobic digestion, biogas plnats, VECM Journal: Agricultural Economics Pages: 1-8 Volume: 62 Issue: 1 Year: 2016 DOI: 10.17221/292/2015-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/292/2015-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201601-0001.txt Handle: RePEc:caa:jnlage:v:62:y:2016:i:1:id:292-2015-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Luboš SMUTKA Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Author-Name: Miroslav SVATOŠ Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Author-Name: Karel TOMŠÍK Author-Workplace-Name: Department of Economics, Faculty of Economics and Management, Czech University of Life Sciences, Prague, Czech Republic Author-Name: Olga Ivanovna SERGIENKO Author-Workplace-Name: State University of Information Technologies, Mechanics and Optics, St. Petersburg, Russia Title: Foreign trade in agricultural products in the Czech Republic Abstract: The article analyses trends in the territorial and commodity structure of the Czech foreign agrarian trade and aims to identify changes which have occurred during the last decade. The main emphasis has been put on the period after the accession to the EU. Primarily such changes are identified, that occurred in the relation to the EU-Member States and to third countries. The results show that the value of agricultural exports and imports was growing during the surveyed period while the growth rate of agricultural exports was above the growth rate of agricultural imports. Agricultural exports increased from CZK 78 billion in 2005 to more than CZK 160 billion in 2013 and the imports rose from CZK 103 billion to more than CZK 184 billion in the same period. The territorial structure of the foreign agrarian trace is continuously concentrating on the EU-Single Market, both in terms of exports and imports. Exports of milk, milk products, cereals, beverages, food preparations, tobacco and tobacco manufactures, cereal preparations, food residues and waste, oilseeds, vegetable fats and oils, sugar and confectionery belong to the most important commodity aggregations. The share of processed products in the total exports increased and reached currently about 7%. The export - import coverage ratio reached a satisfactory trend as well. Although the Czech Republic does not have ideal conditions for the export-oriented agriculture, the country is able to gain comparative advantages, at least at the level of following aggregations: HS10, HS01, HS12, HS24, HS04, HS17, HS15, HS11, HS16, HS22, HS03 a HS13. Keywords: agricultural trade, CIS, commodity and territorial structure, competitiveness, development, EFTA, European Union, exports, export import coverage, import balance, ODME, third countries, trend Journal: Agricultural Economics Pages: 9-25 Volume: 62 Issue: 1 Year: 2016 DOI: 10.17221/18/2015-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/18/2015-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201601-0002.txt Handle: RePEc:caa:jnlage:v:62:y:2016:i:1:id:18-2015-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Achilleas KONTOGEORGOS Author-Workplace-Name: Department of Business Administration of Food and Agricultural Enterprises, University of Patras, Agrinio, Greece Author-Name: Fotios CHATZITHEODORIDIS Author-Workplace-Name: Department of Agricultural Technology, Division of Agricultural Economics, Technological Education Institute of Western Macedonia, Florina, Greece Author-Name: Efstratios LOIZOU Author-Workplace-Name: Department of Agricultural Technology, Division of Agricultural Economics, Technological Education Institute of Western Macedonia, Florina, Greece Title: Adaptation strategies for the Greek agricultural cooperatives during the economic crisis Abstract: Because of the Greek economic crisis, almost all businesses are facing difficult times with severe consequences for employment and the whole economy. Responding to the economic crisis, the companies cut off investments, wages and reduced personnel. However, the companies have to adapt their business strategies to cope with the crisis. This paper conducts a strategic assessment of the Greek agricultural cooperatives during the first half of 2013 using in-depth interviews with cooperative executives in order to illustrate how they have responded to the crisis and also to investigate their strategic options for the upcoming period. The results of the analysis show that agricultural cooperatives have chosen the retrenchment and cost-cutting strategies by restraining their activities while they appear eager to export their production. In addition, the cash shortage forced them to count exclusively on their members to finance any new economic activity. According to the cooperatives' executives, their adaption strategies exclude abandoning the activities and selling the equipment and their real estate properties, while they involve exports, the experienced personnel and marketing investments. These results could provide helpful directions not only for the agricultural cooperatives' management boards but also for the food industry businesses operating under a severe economic situation such as the present Greek economic crisis. Keywords: investments, liquidity, resilience, strategic management Journal: Agricultural Economics Pages: 26-34 Volume: 62 Issue: 1 Year: 2016 DOI: 10.17221/22/2015-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/22/2015-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201601-0003.txt Handle: RePEc:caa:jnlage:v:62:y:2016:i:1:id:22-2015-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Parvadavardini SOUNDARRAJAN Author-Workplace-Name: Department of Humanities, PSG College of Technology, Coimbatore, India Author-Name: Nagarajan VIVEK Author-Workplace-Name: PSG Institute of Management, PSG College of Technology, Coimbatore, India Title: Green finance for sustainable green economic growth in India Abstract: Green finance is a core part of the low carbon green growth, because it connects the financial industry, environmental improvement and economic growth. The objective of this paper is to study the green finance and to validate the concept as feasible in the Indian industries for balancing the ecological depreciation due to the assimilation of carbon gases in atmosphere. Green Finance is a market-based investing or lending program that factors environmental impact into risk assessment, or utilizing environmental incentives to drive business decisions. Therefore, the paper also discusses the recent trends and the future opportunities and challenges in green finance in the emerging India. Green investing recognizes the value of the environment and its natural capital and also seeks to improve the human well-being and social equity while reducing environmental risks and improving the ecological integrity. Keywords: green finance, financial industry, economic growth, ecological depreciation, risk assessment Journal: Agricultural Economics Pages: 35-44 Volume: 62 Issue: 1 Year: 2016 DOI: 10.17221/174/2014-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/174/2014-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201601-0004.txt Handle: RePEc:caa:jnlage:v:62:y:2016:i:1:id:174-2014-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Yung-Chang WANG Author-Workplace-Name: Department of Banking and Finance, Chinese Culture University, Taipei, Taiwan Title: The optimal capital structure in agricultural cooperatives under the revolving fund cycles Abstract: Due to the financial features specific to agricultural cooperatives, the paper constructs a constrained-maximizing model under the assumption that the financial objective of an agricultural cooperative is to maximize the present value of the patron after-tax total income on an infinite time horizon by choosing the dividend rate, the cash patronage refund rate, and the length of the revolving fund cycles. The model is solved numerically in a numerical illustration. In equilibrium, the optimal capital structure is derived for the agricultural cooperative. The effects of the changes in personal tax rates and discount rates are also explored. Keywords: cash patronage refund rate, constrained-maximizing model, dividend rate, present value Journal: Agricultural Economics Pages: 45-50 Volume: 62 Issue: 1 Year: 2016 DOI: 10.17221/204/2015-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/204/2015-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-201601-0005.txt Handle: RePEc:caa:jnlage:v:62:y:2016:i:1:id:204-2015-AGRICECON