Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultura...Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultural Estate housing an integrated fish farm was set up in the commune of Bandafassi, in the village of Itato. Since its creation, this production unit has been faced with the problem of sourcing high-quality, low-cost, monosex male Oreochromis niloticus fry. In order to overcome this constraint, the present research focuses on the contribution of Garcinia kola to the productivity and economic profitability of the Itato farm. The aim of the research is to assess fish production in the experimental set-up and the production costs of tilapia in a controlled environment. The comparative study of the various production factors shows disparities only in the input factor, where scenarios 2 and 3 use additional products. These are 17-α-methytestosterone for scenario 2 and Garcinia kola for scenario 3. These products significantly interfere with fish production, with a fairly high mortality rate for scenario 2 (25% for two production cycles/ cohort2 (B5, B6, B7 and B8) treated with 17-α-methytestosterone). As for scenarios 1 and 3, mortalities are 5% with or without recourse to additional products (G. kola). In addition, average fish production for the three (03) scenarios is estimated at 28687.5 kg/2 cycles. It varies from one scenario to another, i.e. 30937.5 kg/2 cycles for scenarios 1 and 3 and 24187.5 kg/2 cycles for scenario 2. It is therefore higher in scenarios 1 and 3 than in scenario 2. This difference is due to the fairly large losses of individuals in scenario 2. Furthermore, the analysis of the profit and loss accounts for tilapia production varies from one scenario to another depending on the type of farm: 476 Franc CFA for scenario 1, 610 Franc CFA for scenario 2 and 472 Franc CFA for scenario 3 (F CFA = franc of the French Colonies of Africa). The Average operating income for all the fish farming units is 34,726,142 Franc CFA. The highest (41,638,075 Franc CFA) and lowest (29,281,075 Franc CFA) ERs were observed in scenarios 3 and 2 respectively. It was 33,259,275 Franc CFA for scenario 1. The difference between the NERs of the three scenarios is more or less significant in terms of results. The operating result (OR) is positive in all 3 scenarios in our study. However, the scenario 3 system generates a higher rate of return (the ratio between an income and the capital employed to obtain that income) (74%) than that generated by the scenario 1 system (69%). As for the scenario 2 system, it generates a lower financial return than the two previous systems (67%). Above all, this work made it possible to construct an approach that would make it possible to answer such a question by relying successively on various methods: a typology, according to the production factors involved in the operation of the Community Agricultural Estate fish farm.展开更多
The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impa...The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impact of regulation on the efficiency and profitability of banks.This study aims to examine the impact of the introduction of two major regulatory changes(Basel II and Basel III)on bank performance,in terms of bank size and bank-specific and macroeconomic variables.A two-stage empirical anal-ysis was conducted on a sample of 433 European commercial banks over the 2006–2015 period.In the first stage,relative efficiency was calculated using non-parametric data envelopment analysis.In the second stage,the generalized method of moments was used to examine the impact of bank-specific and macroeconomic variables as well as regulation on bank performance,that is,profitability and efficiency.Consider-ing bank size,the results show a diverse impact of regulation on bank performance.Regarding large-and medium-sized banks,regulation positively affects both efficiency and profitability,whereas,for small banks,it negatively affects performance.The results suggest that larger banks have skillfully adapted to the new regulatory environment.In contrast,small banks have problems with profitability and efficiency because the new regulatory framework has imposed additional administrative and regulatory burdens.This could result in future failure or mergers with larger banks,resulting in a higher concentration in the banking sector and increased systemic risk.Our results strongly suggest that regulation should not be implemented equally for all banks;that is,on a one size fits all terms.A distinction between small and large banks when introducing new regulatory frameworks should be made if a reasonable level of competition is to be preserved.展开更多
Intercropping involves the cultivation of more than one crop on a plot of land at a particular time.Tea intercropping with other crops can increase the profitability of farmers and the development of tea plants.The st...Intercropping involves the cultivation of more than one crop on a plot of land at a particular time.Tea intercropping with other crops can increase the profitability of farmers and the development of tea plants.The study estimated the profitability level of intercropped tea farms and determined the factors affecting the profitability of tea intercropping systems in the study area.Information was obtained from two hundred and four tea farmers using a well-structured questionnaire.The analytical techniques used in the study were descriptive analysis and linear regression.The results revealed that the majority(95.6%)of the farmers are from Kakara and Nyiwa towns.There are few(2.9%)women involved in tea farming in Taraba State.29%of the tea farmers are young less than 30 years and old above 60 years.Fifteen percent of the farmers are single,83.8%are married and 1.5%are divorced.About 40%of the tea farmers had no formal education,21%have between 1-6 years of education,19%had 7-12 years of education and 21%had greater than 12 years of education.The gross margin is N289,900,581.9 and the gross margin per farmer is N1,421,081.28.The net income is N2,879,055,533.3 and the net income per farmer is N1,411,301.63.The amount of profit tea farmers make in Taraba State is N1,425,001 and the profit per farmer is N6,985.30.Labour costs(weeding,pruning,application of insecticide,watering)and cost of materials(cutlass,file,chemical,bag and others)are significant determinants of the profit level of the tea intercropping system in Taraba State.Tea intercropping farming is profitable in Taraba State Nigeria.展开更多
The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation...The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation (REDD). Net Present Value was used for comparing profits of different types of investment (e.g. different type of land use). Rapid Rural Appraisal was used to gather information on farm budget data for each land use, including prices, production, labor and other input. The results of the profitability analysis showed that all land uses, both on mineral soil and peat land, were profitable. Oil palm, both in large plantations and smallholder gardens, was the most profitable land-use system. However, the profitability of smallholder oil palm on peatland was lower than on mineral soils yet oil palm was still more competitive than rubber on mineral soils. The competitiveness of mixed gardens with oil palm was higher on peatland and the threat of converting other land uses to oil palm was higher on mineral soil than on peat. For crop systems, irrigated paddy had the highest profitability.展开更多
Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, instit...Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, institutional, and financial drivers of FinTechprofitability and the time it takes for these firms to break even. The database includesrelevant qualitative factors, such as foundational characteristics, the technologicalprofile of the startup, and its funding structure. Using the full population of FinTechstartups operating in Spain from 2005 to 2017, we observe that most of these firms areunprofitable within three years of their inception. Combining panel data and survivalanalyses, we empirically find that large and solvent FinTech firms founded by singleentrepreneurs in an incubator or accelerator program are more likely to be profitableand prevail. FinTech firms reach their break-even points faster if they receive fundingthrough seed capital.展开更多
Dear Editor,We read with interest the recently published study by Trigueros et al^([1]),highlighting the financial and management conditions of femtosecond laser-assisted cataract surgery(FLACS).The authors derived a ...Dear Editor,We read with interest the recently published study by Trigueros et al^([1]),highlighting the financial and management conditions of femtosecond laser-assisted cataract surgery(FLACS).The authors derived a simulation to展开更多
This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estim...This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estimate of cost efficiency.We have used an unbalanced panel dataset from a sample of emerging economic MENA countries over the period between 2011 and 2017.We find out that have a significant and negative impact of competition on profitability of banks.The empirical findings of this study suggest that(1)MENA banks should more improve the process of managing and monitoring the loan segment business;the result which reducing in the level of credit risk which leads to higher profitability(2)MENA banks should shrink higher level of banking sector development.(3)MENA banks should make full conduct of available funds to engage in various natures of businesses;if there is an issue of insolvency,robust government support would give protection to MENA banks.Finally,it also provides some compulsory policy implications which will be very much beneficial for a wide range of stakeholders.展开更多
In Faranah Province(Guinea), the ratio of supply and demand of corn is approximately 1 : 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn prod...In Faranah Province(Guinea), the ratio of supply and demand of corn is approximately 1 : 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn production by evaluating the effects of increasing doses of mineral fertilizers on the yield and economic profitability of corn. The experiment was conducted on a farm in Kamedankoude in a split plot with three replicates. Treatments included two varieties of maize(Perta and Kilissi113) and five doses of chemical fertilizers(D0=unfertilized control, D1=300 kg NPKS+200 kg urea · hm^(-2); D2=400 kg NPKS+800 kg urea · hm^(-2); D3=200 kg NPKS+400 kg urea-· hm^(-2) and D4=500 kg NPKS+600 kg urea · hm2). The results showed that all the agronomic parameters increased with increasing dose of fertilizers, except for the number of ears per plant. The two varieties of corn tested produced similar yields. However, the profitability of mineral fertilizers decreased with increased doses and with value/cost ratio of 3. We recommended a mineral fertilizer dose of 300 kg NPKS + 200 kg urea. The high prices of mineral fertilizers were often barriers to intensive maize cultivation, especially for low-income farmers. This study was a contribution to rational fertilization and adapted the socio-economic conditions of the region, with the background knowledge that most farmers in the regions earned low incomes.展开更多
Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The pe...Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The persistent low production arises from poor cultivation methods,low soil fertility,poor quality seed,pests and diseases,among others.This study compared the profitability of improved cultivation methods for African indigenous vegetables(AIVs),i.e.,pure stand and in lines,versus traditional practice(mixing seeds of different AIVs then broadcast),both for leafy and seed production.The AIVs included:Nakati(Solanum aethiopicum L.),Bugga(Amaranthus blitum L.)and Jobyo(Gynadropsis gynandra L.),arranged in completely randomized(CR)design with three replicates.Results showed that Nakati was more profitable when grown for leafy compared to seed production with benefit:cost ratio(BCR)9.2 and 4.0 for leafy and seed,respectively.Bugga for seed was more profitable compared to leafy production(BCR 18.0 and 2.7 for seed and leafy,respectively).Growing Jobyo for seed was more profitable than leafy production(BCR 14.9,2.4 for seed and leafy,respectively).Growing indigenous vegetables(IVs)for seed in mixed broadcast system,out of the three IVs farmers stand to economically maximize benefits for one crop(BCR 0.9,1.7 and 10.2 for Bugga,Nakati and Jobyo,respectively)compared to pure stand and in lines(BCR 18.0,4.2 and 14.9 for Bugga,Nakati and Jobyo,respectively).Thus,famers stand to benefit more if they grow IVs as pure stand and in lines as opposed to mixed and broadcast,whether for leafy or seed production.展开更多
A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigati...A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigation water amounts and K fertilizer rates for increasing farmer profitability. Three irrigation amounts (70%, 100% and 120% ETo), three K fertilizer levels (57, 86 and 114 K2O kg/ha) and four intercropping patterns of sunflower and peanut (different spatial arrangements) were implemented. The experimental design was strip split plot with three replications. The results showed that there were no significant differences between 100% and 120% ETo on most of yield traits of the intercrops. The highest K fertilizer level had the highest values of most yield traits of the intercrops. The highest values of peanut and sunflower traits were obtained from intercropping sunflower with peanut, where peanut seeds were sown on both sides of all the raised beds, sunflower seeds were sown on one row above the raised beds and the following bed was left without intercropping (P1). Thus, to attain the highest yield of intercrops and water equivalent ratio (WER), the lowest competitive pressure and the highest farmer profitability, 120% ETo, 114 K2O kg/ha and P1 intercropping pattern should be implemented. This research found that the result of competitiveness was consistent with the result of profitability.展开更多
The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean diff...The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean difference between adopters and non adopters ranged from 2819.63 Kg to 4766.59 Kg per unit area of production. For food security status, the average mean quantity of maize consumed at home level was 615.54 Kg with the mean difference ranged from 377.29 Kg to 474.68 Kg. For market participation, the average treatment effect of the treated (ATT) of quantity of maize sold was 11,694.24 Kg while the mean difference ranged from 7165.98 Kg to 9015.60 Kg. The Average Treatment Effect of the Treated market price was 213 Frws/Kg while the mean difference ranged from 44.51 Frws/Kg to 48.3053 Frws/Kg. The Average Treatment Effect of the Treated of farmer’s revenues for the users was 938,772 Frws/ha, however, the mean difference between adopters and non adopters ranged from 1,732,942 Frws to 2,007,039 Frws. The Average Treatment Effect of the Treated of farmer’s net farm income was 1,066,393 Frws while mean difference between users and non users ranged from 803,967 Frws to 854,141 Frws. For profitability analysis, the cost benefit ratio (CBR) was taken into account. The total benefit per unit area was 2,434,509 Frws and total average mean cost of 1,382,313 Frws and CBR = 1.761 > 1. The findings of this study will help the policy makers for deeper sector planning and also, it will facilitate other stakeholders to invest in irrigation technology to improve the livelihoods of Rwandan farmers and other surroundings.展开更多
Based on the latest data, this paper analyses the profitability status of Chinese enterprises and the reasons behind profitability. The authors hold that the profitability of Chinese industrial enterprises has improve...Based on the latest data, this paper analyses the profitability status of Chinese enterprises and the reasons behind profitability. The authors hold that the profitability of Chinese industrial enterprises has improved significantly whilst the degree of monopolization and extent of entry barriers in the industrial sector has decreased. With the exception of a few resource and administrative monopolizing industries, the increasing profitability of Chinese enterprises indicates rising competitiveness. Improved management level, efficient assets operation, enhanced investment benefits and salary-transfer-profit are all contributing to the profitability of enterprises.展开更多
This paper is aiming to evaluate the effect of cost control strategy on the profitability of Coca-Cola Company from year 2015 to 2017 by using the ratio analysis and offer essential recommendations for the company.Thi...This paper is aiming to evaluate the effect of cost control strategy on the profitability of Coca-Cola Company from year 2015 to 2017 by using the ratio analysis and offer essential recommendations for the company.This paper is divided into three parts.First part is to introduce the current business operation activities and basic background information.This paper adopts desk research as data collection method.The major sources of information are the annual report of Coca-Cola Company,the database of World Health Organisation and other scholastic websites such as Wan Fang Database.Second,financial statements analysis and profitability analysis.This part contains three data analysis methods that are horizontal analysis and ratio analysis.Third part is the conclusion which is from year 2015 to 2017,that Coca-Cola Company has strengthened its profitability through cost control strategy but there are fatal hazards in the profitability of Coca-Cola Company that is the worse utilization of its assets to generate profit and dispute with IRS.The recommendations are also provided based on the conclusion which could be referenced by other companies to some extent.展开更多
The objective of the study is to explore determinants of bank liquidity and its impact on bank profitability in Ethiopia by using two-stage least square(2SLS)balanced panel estimation method from 2014-2019.The two dep...The objective of the study is to explore determinants of bank liquidity and its impact on bank profitability in Ethiopia by using two-stage least square(2SLS)balanced panel estimation method from 2014-2019.The two dependent variables to be considered under 2SLS balanced panel estimation methods were liquidity risk and bank profitability.The first equation i.e.liquidity risk specified as a function of major explanatory variable i.e.bank profitability,real GDP growth,net loan growth,and foreign exchange availability.Whereas,the second equation i.e.bank profitability specified as a function of bank liquidity,non-interest income,non-interest expense and expectation.The empirical result of the first equation of the study reveals that bank profitability,foreign exchange availability,and real GDP growth have positive significant impact on bank liquidity while net loan and advance has a negative significant impact on bank liquidity.The empirical result of the second equation depicts that bank liquidity has positive effect on bank profitability even if it is insignificant but total non-interest income and expectation have a positive significant effect on bank profitability.Since the paper has also tested some diagnostic check,the result shows that the model has passed the diagnostic test.展开更多
The concern on climate change and on the limitations of fossil fuels is leading to the promotion of renewable-based energy options. However, the assessment of the energy profitability of a technology is still a contro...The concern on climate change and on the limitations of fossil fuels is leading to the promotion of renewable-based energy options. However, the assessment of the energy profitability of a technology is still a controversial topic, especially when renewable-based systems are compared with non-renewable ones and when the depletion of the stocks of available resources is not accounted properly. As a matter of fact, some popular energy indicators do not seem to cover all the aspects of the problem, with the risk of drawing ambiguous conclusions. A set of life cycle-based indicators is proposed in order to establish a more reliable approach to the assessment of energy products which decouples the different contributions given by renewable and non-renewable resources. The proposed set of indicators has been quantified for different groups of energy products and compared with an energy indicator frequently used (i.e. EROI). A coherent assessment of the depletion of energy resources and of the energy profitability of the products is presented. The indicators could even contribute to understand the feasibility of energy projects and plans by evaluating their impact on the stock of energy resources.展开更多
A firm’s profitability is critical to its competitiveness and sustainability. This research looked at the elements that influence airline profitability in Nigeria. From 2005 to 2019, two airlines were picked, and the...A firm’s profitability is critical to its competitiveness and sustainability. This research looked at the elements that influence airline profitability in Nigeria. From 2005 to 2019, two airlines were picked, and their data were retrieved from Nigerian Civil Aviation Authority (NCAA). From estimated quarterly panel data using E-views 8 and SPSS 22, the overall findings of the regression study demonstrate that with ROA used as a proxy for profitability, the R-square is 83.6 per cent and 89.4 per cent, respectively for Aero contractors and Medview airline, representing 83.6 per cent and 89.4 per cent of the changes in profitability of the Aero contractors and Medview in the sample, respectively, could be explained by changes in the study’s independent variables, namely growth, liquidity, leverage, lease, tangibility, fuel cost and personnel cost. Besides the total of the explanatory variables, growth, leverage and tangibility are statically significant at a 5% level of significant Aero Contractors. Growth, leverage, leasing cost, fuel cost, and staff cost, on the other hand, are statistically significant at the 5% level of significance for Medview airlines. Profiteering, expansion, leverage, and tangibility are the primary activities of any airline firm. Lease cost, fuel cost, and staff cost show a statistically significant positive link with the profitability metric ROA. As a result, stakeholders of Nigerian airlines should prioritize profitability over other criteria in this study. Airline executives should do a comprehensive analysis of all potential elements impacting their company’s profitability in the literature, including aspects other than economic variables. According to the findings of this study, political issues account for a greater proportion of the reasons why airlines fail in Nigeria.展开更多
A SWOT analysis is the method to evaluate the internal weaknesses and strengths of an organization as well as evaluating the threats and opportunities of its external environment.This is considered as an effective fra...A SWOT analysis is the method to evaluate the internal weaknesses and strengths of an organization as well as evaluating the threats and opportunities of its external environment.This is considered as an effective framework to plan and manage the organizational resources to achieve certain goals in a specific period of time.The purpose of implementing SWOT analysis in an organization is to formulate the strategy of a business based on existing internal and external factors.There may be several disadvantages associated with running a SWOT analysis;however,its efficiency in determining the future strategy of a business is more indeed.Although the origin of SWOT analysis is uncertain,there is a long historical background about its uses to facilitate the decision-making process in every complex environment.The final result of a SWOT analysis can be presented in a matrix which is a combination of the four factors and determines strengths and weaknesses that a company involves,with opportunities and threats that it may face.This article provides a study of SWOT analysis basics and provides several practical insights of steps to provide a SWOT matrix.展开更多
<strong>Background</strong>: <span style="font-family:;" "=""><span style="font-family:Verdana;">Economic theory suggests that monetary policy through interes...<strong>Background</strong>: <span style="font-family:;" "=""><span style="font-family:Verdana;">Economic theory suggests that monetary policy through interest rates affects bank profitability. There is limited empirical evidence on the relationship between monetary policy and profitability of commercial banks in Uganda. </span><b><span style="font-family:Verdana;">Objective: </span></b><span style="font-family:Verdana;">This study seeks to examine the effect of monetary policy on the profitability of commercial banks in Uganda. </span><b><span style="font-family:Verdana;">Methodology:</span></b><span style="font-family:Verdana;"> The study adopts a causal relationship research design. </span><span style="font-family:Verdana;">Data, covering 9 years from 2010-2018, was collected from all the registered commercial banks which were in operation over the study period. Various monetary policy variables are included in the empirical model as predictor variables. </span><span style="font-family:Verdana;">Return on </span></span><span style="font-family:Verdana;">A</span><span style="font-family:;" "=""><span style="font-family:Verdana;">ssets is used as a measure of bank profitability</span><span style="font-family:Verdana;">. A </span><span style="font-family:Verdana;">dynamic two-step System Generalized Method of Moments panel estimator is applied to estimate the empirical model. </span><b><span style="font-family:Verdana;">Findings:</span></b><span style="font-family:Verdana;"> Estimates show that monetary policy in terms of its link to the lending rate</span></span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">has a significant causal effect on Return on Assets, suggesting that interest rate changes predict bank profitability of commercial banks in Uganda.</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">Further, results</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">show that a rise in core inflation has a significant negative causal effect on</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">the banks’ profitability and that there is a significant lagged effect of Return on Assets.</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">The 91-day treasury bill rate </span><span style="font-family:;" "=""><span style="font-family:Verdana;">and money supply were insignificant in predicting bank profitability. </span><b><span style="font-family:Verdana;">Originality:</span></b><span style="font-family:Verdana;"> Unlike previous related studies which have focused on major advanced economies and a limited number of studies which have considered only a few developing countries like Nigeria and Kenya, the current study provides empirical evidence on the link between monetary policy and commercial bank profitability in Uganda. </span><b><span style="font-family:Verdana;">Practical Implications:</span></b><span style="font-family:Verdana;"> Policy makers in the financial sector may use the study results as a basis of implementation of appropriate monetary policy actions that enhance the profitability of Uganda’s commercial banks. For instance, the central</span></span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">bank should promote low and stable core inflation in order to enhance bank profitability, and should ensure that the monetary policy transmission to interest rates is efficient.</span>展开更多
The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the th...The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the theoretical plant was 200,000 tons per year and the raw wood materials used were birch pulpwood, spruce pulpwood, pine pulpwood, and energy wood. These wood materials were young delimbed wood from early thinnings. The main goal of the paper was to illustrate that the energy content differences of raw wood materials affect the economic profitability of a bio-coal pellet plant at regional level. In this case, wood type also has a regional economic impact, which the pellet plant can influence through its raw wood material choices. The raw material comparison was based on measured data and not computational or literary data alone. The study found that lower solid wood energy densities caused higher relative costs for the total supply chain. A parallel phenomenon occurred with the required gross margin of the pellets, where lower energy content caused higher required gross margin for pellet sales. The gross margin was also sensitivity analyzed at different discount rates from 5% to 20%. At each required discount rate, the highest annual economic impact on the region was found for birch pellets, with values of 36.95 - 42.66 million €. Spruce pellets had the smallest annual economic impact, although it had the highest final pellet price in the same cases. The different economic effects were caused by the energy volumes sold.展开更多
The study examined profitability of tomato production in Yamaltu-Deba Local Government Area of Gombe State.A three-stage sampling technique was used to select 96 tomato producers.Data were collected using a stru...The study examined profitability of tomato production in Yamaltu-Deba Local Government Area of Gombe State.A three-stage sampling technique was used to select 96 tomato producers.Data were collected using a structured questionnaire and were analysed using descriptive statistics,farm budget model,and t-test analysis.The results revealed that,the mean age of tomato producers was 38.94 years,92.48%were males,71.56%were married with the majority(95.44%)had family size ranging from 1-6 persons,and had 6.55 mean years of farming experience,having an average of 0.6 ha farm size holding.Furthermore,the result revealed that only 8.74%that have attained tertiary education.The results also revealed average variable costs constituted 88.98%and 88.84%of the average total costs of production in the dry and rainy seasons respectively.The per hectare average net income realised were found to be₦154,444.20($398.05)and₦39,725.14($102.38)in the dry and rainy seasons respectively.Hence,the returns per naira invested was₦0.67($0.00173)in dry season and₦0.18($0.00046)in rainy season(P<0.05).Moreover,the results revealed positive and desirable gross and operating ratios of<1;implying the tomato farms in the study area maintained profitability levels both in the short and long run.However,inadequate capital was critical;which was attributed to lack of affordable sources of credits.Lack of storage and processing facilities were among the impediments to large scale tomato production in the study area.However,improvement in the existing patterns and as well as the provision of adequate essential factors of production will help expand the present scale of operations.Therefore,governments and other financial institutions should do more to provide soft loans to the farmers to improve efficiency.展开更多
文摘Inland fishing predominates in the Kedougou region, which has no coastline. This type of fishing does not yet meet the local population’s demand for fish products. In response to this concern, a Community Agricultural Estate housing an integrated fish farm was set up in the commune of Bandafassi, in the village of Itato. Since its creation, this production unit has been faced with the problem of sourcing high-quality, low-cost, monosex male Oreochromis niloticus fry. In order to overcome this constraint, the present research focuses on the contribution of Garcinia kola to the productivity and economic profitability of the Itato farm. The aim of the research is to assess fish production in the experimental set-up and the production costs of tilapia in a controlled environment. The comparative study of the various production factors shows disparities only in the input factor, where scenarios 2 and 3 use additional products. These are 17-α-methytestosterone for scenario 2 and Garcinia kola for scenario 3. These products significantly interfere with fish production, with a fairly high mortality rate for scenario 2 (25% for two production cycles/ cohort2 (B5, B6, B7 and B8) treated with 17-α-methytestosterone). As for scenarios 1 and 3, mortalities are 5% with or without recourse to additional products (G. kola). In addition, average fish production for the three (03) scenarios is estimated at 28687.5 kg/2 cycles. It varies from one scenario to another, i.e. 30937.5 kg/2 cycles for scenarios 1 and 3 and 24187.5 kg/2 cycles for scenario 2. It is therefore higher in scenarios 1 and 3 than in scenario 2. This difference is due to the fairly large losses of individuals in scenario 2. Furthermore, the analysis of the profit and loss accounts for tilapia production varies from one scenario to another depending on the type of farm: 476 Franc CFA for scenario 1, 610 Franc CFA for scenario 2 and 472 Franc CFA for scenario 3 (F CFA = franc of the French Colonies of Africa). The Average operating income for all the fish farming units is 34,726,142 Franc CFA. The highest (41,638,075 Franc CFA) and lowest (29,281,075 Franc CFA) ERs were observed in scenarios 3 and 2 respectively. It was 33,259,275 Franc CFA for scenario 1. The difference between the NERs of the three scenarios is more or less significant in terms of results. The operating result (OR) is positive in all 3 scenarios in our study. However, the scenario 3 system generates a higher rate of return (the ratio between an income and the capital employed to obtain that income) (74%) than that generated by the scenario 1 system (69%). As for the scenario 2 system, it generates a lower financial return than the two previous systems (67%). Above all, this work made it possible to construct an approach that would make it possible to answer such a question by relying successively on various methods: a typology, according to the production factors involved in the operation of the Community Agricultural Estate fish farm.
基金supported by the University of Rijeka projects uniri-mladi-drustv-20-5.and uniri-drustv-18-228.
文摘The latest regulatory framework,which has been introduced globally in the form of Basel III,and its implementation in the legislation of the member states of the Euro-pean Union has generated much interest in the impact of regulation on the efficiency and profitability of banks.This study aims to examine the impact of the introduction of two major regulatory changes(Basel II and Basel III)on bank performance,in terms of bank size and bank-specific and macroeconomic variables.A two-stage empirical anal-ysis was conducted on a sample of 433 European commercial banks over the 2006–2015 period.In the first stage,relative efficiency was calculated using non-parametric data envelopment analysis.In the second stage,the generalized method of moments was used to examine the impact of bank-specific and macroeconomic variables as well as regulation on bank performance,that is,profitability and efficiency.Consider-ing bank size,the results show a diverse impact of regulation on bank performance.Regarding large-and medium-sized banks,regulation positively affects both efficiency and profitability,whereas,for small banks,it negatively affects performance.The results suggest that larger banks have skillfully adapted to the new regulatory environment.In contrast,small banks have problems with profitability and efficiency because the new regulatory framework has imposed additional administrative and regulatory burdens.This could result in future failure or mergers with larger banks,resulting in a higher concentration in the banking sector and increased systemic risk.Our results strongly suggest that regulation should not be implemented equally for all banks;that is,on a one size fits all terms.A distinction between small and large banks when introducing new regulatory frameworks should be made if a reasonable level of competition is to be preserved.
文摘Intercropping involves the cultivation of more than one crop on a plot of land at a particular time.Tea intercropping with other crops can increase the profitability of farmers and the development of tea plants.The study estimated the profitability level of intercropped tea farms and determined the factors affecting the profitability of tea intercropping systems in the study area.Information was obtained from two hundred and four tea farmers using a well-structured questionnaire.The analytical techniques used in the study were descriptive analysis and linear regression.The results revealed that the majority(95.6%)of the farmers are from Kakara and Nyiwa towns.There are few(2.9%)women involved in tea farming in Taraba State.29%of the tea farmers are young less than 30 years and old above 60 years.Fifteen percent of the farmers are single,83.8%are married and 1.5%are divorced.About 40%of the tea farmers had no formal education,21%have between 1-6 years of education,19%had 7-12 years of education and 21%had greater than 12 years of education.The gross margin is N289,900,581.9 and the gross margin per farmer is N1,421,081.28.The net income is N2,879,055,533.3 and the net income per farmer is N1,411,301.63.The amount of profit tea farmers make in Taraba State is N1,425,001 and the profit per farmer is N6,985.30.Labour costs(weeding,pruning,application of insecticide,watering)and cost of materials(cutlass,file,chemical,bag and others)are significant determinants of the profit level of the tea intercropping system in Taraba State.Tea intercropping farming is profitable in Taraba State Nigeria.
文摘The purpose of the research was to compare the profitability of existing land uses in Tanjung Jabung Barat, Jambi province, Indonesia, for formulating a strategy to reduce emissions from deforestation and de-gradation (REDD). Net Present Value was used for comparing profits of different types of investment (e.g. different type of land use). Rapid Rural Appraisal was used to gather information on farm budget data for each land use, including prices, production, labor and other input. The results of the profitability analysis showed that all land uses, both on mineral soil and peat land, were profitable. Oil palm, both in large plantations and smallholder gardens, was the most profitable land-use system. However, the profitability of smallholder oil palm on peatland was lower than on mineral soils yet oil palm was still more competitive than rubber on mineral soils. The competitiveness of mixed gardens with oil palm was higher on peatland and the threat of converting other land uses to oil palm was higher on mineral soil than on peat. For crop systems, irrigated paddy had the highest profitability.
基金support from the FUNCAS Foundation,PGC2018–099415–B–100 MICINN/FEDER/UE,and Junta de Andalucía P18-RT-3571 Project。
文摘Notwithstanding the emergence of FinTech startups in the financial services industry,most of these companies face significant difficulties in breaking even and surviving.This study examines the main managerial, institutional, and financial drivers of FinTechprofitability and the time it takes for these firms to break even. The database includesrelevant qualitative factors, such as foundational characteristics, the technologicalprofile of the startup, and its funding structure. Using the full population of FinTechstartups operating in Spain from 2005 to 2017, we observe that most of these firms areunprofitable within three years of their inception. Combining panel data and survivalanalyses, we empirically find that large and solvent FinTech firms founded by singleentrepreneurs in an incubator or accelerator program are more likely to be profitableand prevail. FinTech firms reach their break-even points faster if they receive fundingthrough seed capital.
文摘Dear Editor,We read with interest the recently published study by Trigueros et al^([1]),highlighting the financial and management conditions of femtosecond laser-assisted cataract surgery(FLACS).The authors derived a simulation to
文摘This paper uses generalized method of moments(GMM),Least Squares(LS)and Generalized Linear Model(GLM)to examine the impact of competition on profitability of banks and Stochastic Frontier approach(SFA)is used to estimate of cost efficiency.We have used an unbalanced panel dataset from a sample of emerging economic MENA countries over the period between 2011 and 2017.We find out that have a significant and negative impact of competition on profitability of banks.The empirical findings of this study suggest that(1)MENA banks should more improve the process of managing and monitoring the loan segment business;the result which reducing in the level of credit risk which leads to higher profitability(2)MENA banks should shrink higher level of banking sector development.(3)MENA banks should make full conduct of available funds to engage in various natures of businesses;if there is an issue of insolvency,robust government support would give protection to MENA banks.Finally,it also provides some compulsory policy implications which will be very much beneficial for a wide range of stakeholders.
文摘In Faranah Province(Guinea), the ratio of supply and demand of corn is approximately 1 : 2. The production is low and the deficit is covered by maize importation. This study was initiated in order to improve corn production by evaluating the effects of increasing doses of mineral fertilizers on the yield and economic profitability of corn. The experiment was conducted on a farm in Kamedankoude in a split plot with three replicates. Treatments included two varieties of maize(Perta and Kilissi113) and five doses of chemical fertilizers(D0=unfertilized control, D1=300 kg NPKS+200 kg urea · hm^(-2); D2=400 kg NPKS+800 kg urea · hm^(-2); D3=200 kg NPKS+400 kg urea-· hm^(-2) and D4=500 kg NPKS+600 kg urea · hm2). The results showed that all the agronomic parameters increased with increasing dose of fertilizers, except for the number of ears per plant. The two varieties of corn tested produced similar yields. However, the profitability of mineral fertilizers decreased with increased doses and with value/cost ratio of 3. We recommended a mineral fertilizer dose of 300 kg NPKS + 200 kg urea. The high prices of mineral fertilizers were often barriers to intensive maize cultivation, especially for low-income farmers. This study was a contribution to rational fertilization and adapted the socio-economic conditions of the region, with the background knowledge that most farmers in the regions earned low incomes.
文摘Vegetables are important for nutrition and income of rural and urban households.However,vegetable consumption in Uganda is below World Health Organization(WHO)recommended guidelines,partly due to low production.The persistent low production arises from poor cultivation methods,low soil fertility,poor quality seed,pests and diseases,among others.This study compared the profitability of improved cultivation methods for African indigenous vegetables(AIVs),i.e.,pure stand and in lines,versus traditional practice(mixing seeds of different AIVs then broadcast),both for leafy and seed production.The AIVs included:Nakati(Solanum aethiopicum L.),Bugga(Amaranthus blitum L.)and Jobyo(Gynadropsis gynandra L.),arranged in completely randomized(CR)design with three replicates.Results showed that Nakati was more profitable when grown for leafy compared to seed production with benefit:cost ratio(BCR)9.2 and 4.0 for leafy and seed,respectively.Bugga for seed was more profitable compared to leafy production(BCR 18.0 and 2.7 for seed and leafy,respectively).Growing Jobyo for seed was more profitable than leafy production(BCR 14.9,2.4 for seed and leafy,respectively).Growing indigenous vegetables(IVs)for seed in mixed broadcast system,out of the three IVs farmers stand to economically maximize benefits for one crop(BCR 0.9,1.7 and 10.2 for Bugga,Nakati and Jobyo,respectively)compared to pure stand and in lines(BCR 18.0,4.2 and 14.9 for Bugga,Nakati and Jobyo,respectively).Thus,famers stand to benefit more if they grow IVs as pure stand and in lines as opposed to mixed and broadcast,whether for leafy or seed production.
文摘A two-year study was carried out at Ismailia Agricultural Research Station, Egypt during 2016 and 2017 summer seasons to evaluate competitive effects of intercropping sunflower and peanut under different drip irrigation water amounts and K fertilizer rates for increasing farmer profitability. Three irrigation amounts (70%, 100% and 120% ETo), three K fertilizer levels (57, 86 and 114 K2O kg/ha) and four intercropping patterns of sunflower and peanut (different spatial arrangements) were implemented. The experimental design was strip split plot with three replications. The results showed that there were no significant differences between 100% and 120% ETo on most of yield traits of the intercrops. The highest K fertilizer level had the highest values of most yield traits of the intercrops. The highest values of peanut and sunflower traits were obtained from intercropping sunflower with peanut, where peanut seeds were sown on both sides of all the raised beds, sunflower seeds were sown on one row above the raised beds and the following bed was left without intercropping (P1). Thus, to attain the highest yield of intercrops and water equivalent ratio (WER), the lowest competitive pressure and the highest farmer profitability, 120% ETo, 114 K2O kg/ha and P1 intercropping pattern should be implemented. This research found that the result of competitiveness was consistent with the result of profitability.
文摘The study aims to assess the effect of small scale irrigation adoption to farmers in Nasho sector, Kirehe District in Rwanda. The average yield was 12,309.73 Kg/2.62 ha or 4698.73 Kg/ha for adopters with the mean difference between adopters and non adopters ranged from 2819.63 Kg to 4766.59 Kg per unit area of production. For food security status, the average mean quantity of maize consumed at home level was 615.54 Kg with the mean difference ranged from 377.29 Kg to 474.68 Kg. For market participation, the average treatment effect of the treated (ATT) of quantity of maize sold was 11,694.24 Kg while the mean difference ranged from 7165.98 Kg to 9015.60 Kg. The Average Treatment Effect of the Treated market price was 213 Frws/Kg while the mean difference ranged from 44.51 Frws/Kg to 48.3053 Frws/Kg. The Average Treatment Effect of the Treated of farmer’s revenues for the users was 938,772 Frws/ha, however, the mean difference between adopters and non adopters ranged from 1,732,942 Frws to 2,007,039 Frws. The Average Treatment Effect of the Treated of farmer’s net farm income was 1,066,393 Frws while mean difference between users and non users ranged from 803,967 Frws to 854,141 Frws. For profitability analysis, the cost benefit ratio (CBR) was taken into account. The total benefit per unit area was 2,434,509 Frws and total average mean cost of 1,382,313 Frws and CBR = 1.761 > 1. The findings of this study will help the policy makers for deeper sector planning and also, it will facilitate other stakeholders to invest in irrigation technology to improve the livelihoods of Rwandan farmers and other surroundings.
文摘Based on the latest data, this paper analyses the profitability status of Chinese enterprises and the reasons behind profitability. The authors hold that the profitability of Chinese industrial enterprises has improved significantly whilst the degree of monopolization and extent of entry barriers in the industrial sector has decreased. With the exception of a few resource and administrative monopolizing industries, the increasing profitability of Chinese enterprises indicates rising competitiveness. Improved management level, efficient assets operation, enhanced investment benefits and salary-transfer-profit are all contributing to the profitability of enterprises.
文摘This paper is aiming to evaluate the effect of cost control strategy on the profitability of Coca-Cola Company from year 2015 to 2017 by using the ratio analysis and offer essential recommendations for the company.This paper is divided into three parts.First part is to introduce the current business operation activities and basic background information.This paper adopts desk research as data collection method.The major sources of information are the annual report of Coca-Cola Company,the database of World Health Organisation and other scholastic websites such as Wan Fang Database.Second,financial statements analysis and profitability analysis.This part contains three data analysis methods that are horizontal analysis and ratio analysis.Third part is the conclusion which is from year 2015 to 2017,that Coca-Cola Company has strengthened its profitability through cost control strategy but there are fatal hazards in the profitability of Coca-Cola Company that is the worse utilization of its assets to generate profit and dispute with IRS.The recommendations are also provided based on the conclusion which could be referenced by other companies to some extent.
文摘The objective of the study is to explore determinants of bank liquidity and its impact on bank profitability in Ethiopia by using two-stage least square(2SLS)balanced panel estimation method from 2014-2019.The two dependent variables to be considered under 2SLS balanced panel estimation methods were liquidity risk and bank profitability.The first equation i.e.liquidity risk specified as a function of major explanatory variable i.e.bank profitability,real GDP growth,net loan growth,and foreign exchange availability.Whereas,the second equation i.e.bank profitability specified as a function of bank liquidity,non-interest income,non-interest expense and expectation.The empirical result of the first equation of the study reveals that bank profitability,foreign exchange availability,and real GDP growth have positive significant impact on bank liquidity while net loan and advance has a negative significant impact on bank liquidity.The empirical result of the second equation depicts that bank liquidity has positive effect on bank profitability even if it is insignificant but total non-interest income and expectation have a positive significant effect on bank profitability.Since the paper has also tested some diagnostic check,the result shows that the model has passed the diagnostic test.
文摘The concern on climate change and on the limitations of fossil fuels is leading to the promotion of renewable-based energy options. However, the assessment of the energy profitability of a technology is still a controversial topic, especially when renewable-based systems are compared with non-renewable ones and when the depletion of the stocks of available resources is not accounted properly. As a matter of fact, some popular energy indicators do not seem to cover all the aspects of the problem, with the risk of drawing ambiguous conclusions. A set of life cycle-based indicators is proposed in order to establish a more reliable approach to the assessment of energy products which decouples the different contributions given by renewable and non-renewable resources. The proposed set of indicators has been quantified for different groups of energy products and compared with an energy indicator frequently used (i.e. EROI). A coherent assessment of the depletion of energy resources and of the energy profitability of the products is presented. The indicators could even contribute to understand the feasibility of energy projects and plans by evaluating their impact on the stock of energy resources.
文摘A firm’s profitability is critical to its competitiveness and sustainability. This research looked at the elements that influence airline profitability in Nigeria. From 2005 to 2019, two airlines were picked, and their data were retrieved from Nigerian Civil Aviation Authority (NCAA). From estimated quarterly panel data using E-views 8 and SPSS 22, the overall findings of the regression study demonstrate that with ROA used as a proxy for profitability, the R-square is 83.6 per cent and 89.4 per cent, respectively for Aero contractors and Medview airline, representing 83.6 per cent and 89.4 per cent of the changes in profitability of the Aero contractors and Medview in the sample, respectively, could be explained by changes in the study’s independent variables, namely growth, liquidity, leverage, lease, tangibility, fuel cost and personnel cost. Besides the total of the explanatory variables, growth, leverage and tangibility are statically significant at a 5% level of significant Aero Contractors. Growth, leverage, leasing cost, fuel cost, and staff cost, on the other hand, are statistically significant at the 5% level of significance for Medview airlines. Profiteering, expansion, leverage, and tangibility are the primary activities of any airline firm. Lease cost, fuel cost, and staff cost show a statistically significant positive link with the profitability metric ROA. As a result, stakeholders of Nigerian airlines should prioritize profitability over other criteria in this study. Airline executives should do a comprehensive analysis of all potential elements impacting their company’s profitability in the literature, including aspects other than economic variables. According to the findings of this study, political issues account for a greater proportion of the reasons why airlines fail in Nigeria.
文摘A SWOT analysis is the method to evaluate the internal weaknesses and strengths of an organization as well as evaluating the threats and opportunities of its external environment.This is considered as an effective framework to plan and manage the organizational resources to achieve certain goals in a specific period of time.The purpose of implementing SWOT analysis in an organization is to formulate the strategy of a business based on existing internal and external factors.There may be several disadvantages associated with running a SWOT analysis;however,its efficiency in determining the future strategy of a business is more indeed.Although the origin of SWOT analysis is uncertain,there is a long historical background about its uses to facilitate the decision-making process in every complex environment.The final result of a SWOT analysis can be presented in a matrix which is a combination of the four factors and determines strengths and weaknesses that a company involves,with opportunities and threats that it may face.This article provides a study of SWOT analysis basics and provides several practical insights of steps to provide a SWOT matrix.
文摘<strong>Background</strong>: <span style="font-family:;" "=""><span style="font-family:Verdana;">Economic theory suggests that monetary policy through interest rates affects bank profitability. There is limited empirical evidence on the relationship between monetary policy and profitability of commercial banks in Uganda. </span><b><span style="font-family:Verdana;">Objective: </span></b><span style="font-family:Verdana;">This study seeks to examine the effect of monetary policy on the profitability of commercial banks in Uganda. </span><b><span style="font-family:Verdana;">Methodology:</span></b><span style="font-family:Verdana;"> The study adopts a causal relationship research design. </span><span style="font-family:Verdana;">Data, covering 9 years from 2010-2018, was collected from all the registered commercial banks which were in operation over the study period. Various monetary policy variables are included in the empirical model as predictor variables. </span><span style="font-family:Verdana;">Return on </span></span><span style="font-family:Verdana;">A</span><span style="font-family:;" "=""><span style="font-family:Verdana;">ssets is used as a measure of bank profitability</span><span style="font-family:Verdana;">. A </span><span style="font-family:Verdana;">dynamic two-step System Generalized Method of Moments panel estimator is applied to estimate the empirical model. </span><b><span style="font-family:Verdana;">Findings:</span></b><span style="font-family:Verdana;"> Estimates show that monetary policy in terms of its link to the lending rate</span></span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">has a significant causal effect on Return on Assets, suggesting that interest rate changes predict bank profitability of commercial banks in Uganda.</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">Further, results</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">show that a rise in core inflation has a significant negative causal effect on</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">the banks’ profitability and that there is a significant lagged effect of Return on Assets.</span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">The 91-day treasury bill rate </span><span style="font-family:;" "=""><span style="font-family:Verdana;">and money supply were insignificant in predicting bank profitability. </span><b><span style="font-family:Verdana;">Originality:</span></b><span style="font-family:Verdana;"> Unlike previous related studies which have focused on major advanced economies and a limited number of studies which have considered only a few developing countries like Nigeria and Kenya, the current study provides empirical evidence on the link between monetary policy and commercial bank profitability in Uganda. </span><b><span style="font-family:Verdana;">Practical Implications:</span></b><span style="font-family:Verdana;"> Policy makers in the financial sector may use the study results as a basis of implementation of appropriate monetary policy actions that enhance the profitability of Uganda’s commercial banks. For instance, the central</span></span><span style="font-family:;" "=""> </span><span style="font-family:Verdana;">bank should promote low and stable core inflation in order to enhance bank profitability, and should ensure that the monetary policy transmission to interest rates is efficient.</span>
基金the Auramo Foundation for funding that made this study possible.
文摘The aim of this paper was to compare the annual economic impact of a large-scale bio-coal pellet plant by raw material specifically for the Finnish Lakeland region. In this study, the total production volume of the theoretical plant was 200,000 tons per year and the raw wood materials used were birch pulpwood, spruce pulpwood, pine pulpwood, and energy wood. These wood materials were young delimbed wood from early thinnings. The main goal of the paper was to illustrate that the energy content differences of raw wood materials affect the economic profitability of a bio-coal pellet plant at regional level. In this case, wood type also has a regional economic impact, which the pellet plant can influence through its raw wood material choices. The raw material comparison was based on measured data and not computational or literary data alone. The study found that lower solid wood energy densities caused higher relative costs for the total supply chain. A parallel phenomenon occurred with the required gross margin of the pellets, where lower energy content caused higher required gross margin for pellet sales. The gross margin was also sensitivity analyzed at different discount rates from 5% to 20%. At each required discount rate, the highest annual economic impact on the region was found for birch pellets, with values of 36.95 - 42.66 million €. Spruce pellets had the smallest annual economic impact, although it had the highest final pellet price in the same cases. The different economic effects were caused by the energy volumes sold.
文摘The study examined profitability of tomato production in Yamaltu-Deba Local Government Area of Gombe State.A three-stage sampling technique was used to select 96 tomato producers.Data were collected using a structured questionnaire and were analysed using descriptive statistics,farm budget model,and t-test analysis.The results revealed that,the mean age of tomato producers was 38.94 years,92.48%were males,71.56%were married with the majority(95.44%)had family size ranging from 1-6 persons,and had 6.55 mean years of farming experience,having an average of 0.6 ha farm size holding.Furthermore,the result revealed that only 8.74%that have attained tertiary education.The results also revealed average variable costs constituted 88.98%and 88.84%of the average total costs of production in the dry and rainy seasons respectively.The per hectare average net income realised were found to be₦154,444.20($398.05)and₦39,725.14($102.38)in the dry and rainy seasons respectively.Hence,the returns per naira invested was₦0.67($0.00173)in dry season and₦0.18($0.00046)in rainy season(P<0.05).Moreover,the results revealed positive and desirable gross and operating ratios of<1;implying the tomato farms in the study area maintained profitability levels both in the short and long run.However,inadequate capital was critical;which was attributed to lack of affordable sources of credits.Lack of storage and processing facilities were among the impediments to large scale tomato production in the study area.However,improvement in the existing patterns and as well as the provision of adequate essential factors of production will help expand the present scale of operations.Therefore,governments and other financial institutions should do more to provide soft loans to the farmers to improve efficiency.
