Template-Type: ReDIF-Article 1.0 Author-Name: Jindřich Špička Author-Workplace-Name: Department of Economics of Agrarian Sector, Institute of Agricultural Economics and Information, Prague, Czech Republic Author-Name: Petr Dereník Author-Workplace-Name: Liaison Agency FADN CZ, Institute of Agricultural Economics and Information, Prague, Czech Republic Title: How opportunity costs change the view on the viability of farms? Empirical evidence from the EU Abstract: The post-2020 Common Agricultural Policy targets at supporting small and medium-sized farms. Capping and redistribution of direct payments would have a direct impact on the economic viability of farms. Calculation of economic income is a reasonable way how to calculate the economic viability of firms. However, accounting profit has been preferred for its estimation so far. The article aims to compare the income from accounting and economic point of view and reveal how much the results differ across the EU. The literature review, an empirical analysis based on Farm Accountancy Data Network (2016-2018), and a clustered heat map were applied. The results provide clear evidence of high variability of opportunity costs when calculating the economic viability in the EU, especially between countries with small intensive farms and some post-communist countries where larger farms dominate. Keywords: accounting income, agriculture, cluster analysis, economic income, equity, FADN (Farm Accountancy Data Network), impact evaluation, international comparison, labour, land Journal: Agricultural Economics Pages: 41-50 Volume: 67 Issue: 2 Year: 2021 DOI: 10.17221/412/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/412/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202102-0001.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:2:id:412-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Yessica C.Y. Chung Author-Workplace-Name: Department of Agribusiness Management, National Pingtung University of Science and Technology, Pingtung, Taiwan Author-Name: Hung-Hao Chang Author-Workplace-Name: Department of Agricultural Economics, National Taiwan University, Taipei, Taiwan Author-Name: Yukinobu Kitamura Author-Workplace-Name: Institute of Economic Research, Hitotsubashi University, Tokyo, Japan Title: Digital and traditional media advertising and business performance of agribusiness firms - Empirical evidence in Japan Abstract: Can digital media advertising strategies benefit agribusiness farms? This study addresses this issue by investigating the extent to which digital and traditional media advertising strategies affect agribusiness performance and the underlying factors associated with agribusiness farms' adoption decisions. We estimate a non-linear simultaneous equation system and use a population-based survey data of agricultural processing farms in Japan. We find that female and younger farm operators', as well as incorporated agribusiness farms, are more likely to adopt digital media advertising. The sales value of digital media advertising users is higher by 51% than that of non-users. Moreover, the effect of digital advertising is not equally distributed among farms. Family farms and farms located in rural areas benefit more from the adoption of digital media advertising. Keywords: advertising strategy, agricultural processing farm, digital technology, Japanese farm Journal: Agricultural Economics Pages: 51-59 Volume: 67 Issue: 2 Year: 2021 DOI: 10.17221/393/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/393/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202102-0002.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:2:id:393-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Dejan Živkov Author-Workplace-Name: Novi Sad School of Business, University of Novi Sad, Novi Sad, Serbia Author-Name: Petra Balaban Author-Workplace-Name: Technical School of Professional Studies, University of Novi Sad, Novi Sad, Serbia Author-Name: Boris Kuzman Author-Workplace-Name: Institute of Agricultural Economics, Belgrade, Serbia Title: How to combine precious metals with corn in a risk-minimizing two-asset portfolio? Abstract: This paper tries to find out which precious metal futures are the best hedging tools for corn spot commodity, taking into account three different risk measures - variance (Var), value at risk (VaR), and conditional value at risk (CVaR). For computation purposes, we use an optimal dynamic conditional correlation (DCC) specification for every considered pair. Our findings indicate that portfolio with gold outperforms the other three precious metals (silver, platinum, and palladium) with respect to all three risk metrics. The reason for such findings is two-fold. First, gold has the lowest average dynamic correlation with corn (below 11%), and gold also has the lowest average risk of all precious metals. The second-best combination is corn-platinum, whereas the corn-silver pair gives the worst hedging results. This happens because silver has the highest average dynamic correlation with corn (14.5%), but more importantly, silver is the riskiest commodity, which makes this asset unsuitable for combining with corn. According to the results, the ratio between corn and gold in a two-asset portfolio should be about 27 : 73. Keywords: different risk measures, dynamic correlations, dynamic weights Journal: Agricultural Economics Pages: 60-69 Volume: 67 Issue: 2 Year: 2021 DOI: 10.17221/411/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/411/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202102-0003.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:2:id:411-2020-AGRICECON Template-Type: ReDIF-Article 1.0 Author-Name: Fatima Lambarraa-Lehnhardt Author-Workplace-Name: Farm Economics and Ecosystem Services Group, Leibniz Centre for Agricultural Landscape Research (ZALF), Müncheberg, Germany Author-Workplace-Name: CRC-PEG, University of Göttingen, Germany Author-Name: Rico Ihle Author-Workplace-Name: Agricultural Economics and Rural Policy Group, Wageningen University, Wageningen, The Netherlands Author-Name: Khadija Mhaouch Author-Workplace-Name: Direction Provinciale de l'Agriculture, Al Khmissat, Morocco Title: Geographical indications for supporting rural development in the context of the Green Morocco Plan: Oasis dates Abstract: Origin labelling is one of the most prominent approaches in the Green Morocco Plan with which the Moroccan government aims to support the marketing of domestically produced food and then improve the income of smallholder farmers. We analyse the preferences and attitudes of Moroccan consumers towards the recently established Protected Geographical Indication label "Majhoul dates of Tafilalet". The analysis is based on a survey of 303 Moroccan consumers and focuses on the influence of the label as extrinsic attribute on consumer choice. We use cluster analysis to segment the market and the Analytical Hierarchy Process to shed light on preferences of consumers under this labelling strategy. Results indicate two consumer types. The largest group seeks authenticity, origin, and quality. The label of origin in general and the origin from the oasis of Tafilalet in particular are the most important attributes affecting the purchasing decisions which fit with the goal of the labelling strategy implanted as part of the policy. The acceptance of the labelling by Moroccan consumers implies that the neighbouring countries might pursue similar approaches to support rural livelihoods in arid areas. Keywords: Middle East and North Africa, oasis agriculture, origin labelling, Plan Maroc Vert, protected geographic indication Journal: Agricultural Economics Pages: 70-79 Volume: 67 Issue: 2 Year: 2021 DOI: 10.17221/226/2020-AGRICECON File-URL: http://agricecon.agriculturejournals.cz/doi/10.17221/226/2020-AGRICECON.html File-Format: text/html X-File-Ref: http://agriculturejournals.cz/RePEc/caa/references/age-202102-0004.txt Handle: RePEc:caa:jnlage:v:67:y:2021:i:2:id:226-2020-AGRICECON