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This paper empirically studies the extent to which career concerns as part of a typical contract offer influence employees' work performance in a Japanese auto dealership firm. Because career movements and base-wage adjustments rely on performance evaluation over time, we develop a dynamic structural model that allows concerns for future payoffs to impact an employee's current work effort. A reform in personnel-management policies of the firm during the data period enables us not only to compare the performances across individuals, but also to compare within an individual the performance before and after the reform—this enhances the model identification. Our estimation results show that the added value from career movements on top of the monetary payoffs is more important than the monetary payoffs. Individuals respond to career movements and commissions differently, mainly due to varying cost of effort and different payoffs from career movements. Our counterfactual exercises suggest that, compared with the scenario when there is only monetary compensation, adding career movements in a contract package will greatly improve the firm's gross profit. The firm can improve its net profit by making commission and promotion more performance-based. This paper was accepted by Matt Shum, marketing. Funding: Financial support from the Social Sciences and Humanities Research Council of Canada [Grant 20190410-01] is gratefully acknowledged. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2023.4956. [ABSTRACT FROM AUTHOR]

Deer production options were modelled in two contrasting environments, Otago and Hawkes Bay, New Zealand, to estimate greenhouse gas emissions, productivity and profitability. A standard New Zealand deer farm was compared to the deer production scenarios: (1) increasing hind longevity through improved reproductive performance, (2) improving animal health management to increase weaner growth, (3) pre-winter finishing using larger hinds and superior growth genetics sires or (4) shifting to a mixed velvet antler/venison enterprise. Production (kg product/ha) increased as scenarios 1–3 were applied, being greatest for scenario 3, in both environments (+21% and +2% in the Otago and Hawkes Bay environments respectively). Production increases in the Hawkes Bay environment were muted by the inclusion of beef and sheep enterprises. Production in Otago and Hawkes Bay was reduced in scenario 4 by 12 and 7% but achieved increased gross margin (33% and 20% respectively). Some small differences in the magnitude of response were seen between the environments. Changes in total GHG emissions per hectare ranged between +4.6% and −6.7%. GHG emission per $ gross margin was reduced by up to 15%–21%. Altering production options in the deer industry altered total GHG emissions per hectare and reduced GHG emissions per kg of product. [ABSTRACT FROM AUTHOR]

Pit latrines are the most common household sanitation system in East African cities. Urbanisation reduces the space available for new latrines to be constructed when pits fill and they increasingly require emptying. But formal services that empty and transport sludge to safe disposal or treatment are often unaffordable to low-income households. Cross-subsidies have been suggested to fund services for low-income households but there are no academic studies assessing this funding mechanism. This study analyses empirical financial and operational data shared by a formal service provider in Kigali, Rwanda who is establishing a cross-subsidy model between corporate and high-income households, and low-income households in informal settlements. A semi-mechanical method is used to serve households which cannot be accessed from the road by an exhauster truck. We find that mechanical emptying is gross profitable when exhauster trucks are fully used, particularly large volume and corporate customers. Transferring sludge between vehicles for efficient transport reduces average cost. Cross-subsidies are found to be a viable funding method and a ten-fold increase in mechanical emptying by the service provider would generate 466,876 Int$ (2022 international dollars) gross profit to fund a cross-subsidy for all low-income households in Kigali which require semi-mechanical emptying. This study highlights the opportunities that city authorities have to organise funding to cross-subsidise emptying for low-income households. In addition, by using data from operational records rather than self-reported estimates the reliability of cost estimates is in improved. Further research is required to understand customer group size, demand and emptying frequencies to determine the structure of a citywide cross-subsidy. [ABSTRACT FROM AUTHOR]

This study investigated the economic performance of pastoralist small ruminant flocks in Kajiado county, Kenya, and the financial impact of mortalities and changes in performance indicators. A survey of 129 pastoralist small ruminant flocks captured production and economic data for a 12-month period via interview. Simulation models were then developed for flocks with different performance levels and trading activities. Their gross margins, and the financial impact from mortalities, were estimated. Sensitivity analyses were conducted for select performance indicators to assess their relative economic importance. On average, pastoralists who were not purchasing supplementary feed (79% of flocks) had gross margins of KSh 3,016 - KSh 3,123 per reproductive female. Goat production generated 2.43-2.51 times greater returns than sheep production. High efficiency mixed flocks achieved 2.04-2.06 times greater returns than medium efficiency flocks, and 12.19-14.25 times greater returns than low efficiency flocks. Pastoralist-only flocks had 3.82-4.01 times greater returns than pastoralist-traders. Financial losses due to mortality were on average 17.81% of the starting flock value. Fecundity and abortion rates in sheep, and parturition rate in goats, had the greatest economic impact. The developed models could support decision-making toward improving the economic performance of pastoralist flocks and the evaluation of interventions and external shocks. [ABSTRACT FROM AUTHOR]

By improving soil properties, cover crops can reduce wind erosion and sand damage to emerging cotton (Gossypium hirsutum L.) plants. However, on the Texas High Plains, questions regarding cover crop water use and management factors that affect cotton lint yield are common and limit conservation adoption by regional producers. Studies were conducted near Lamesa, TX, USA, in 2017–2020 to evaluate cover crop species selection, seeding rate, and termination timing on cover crop biomass production and cotton yield in conventional and no-tillage systems. The no-till systems included two cover crop species, rye (Secale cereale L.) and wheat (Triticum aestivum L.) and were compared to a conventional tillage system. The cover crops were planted at two seeding rates, 34 and 68 kg ha−1, and each plot was split into two termination timings: optimum, six to eight weeks prior to the planting of cotton, and late, which was two weeks after the optimum termination. Herbage mass was greater in the rye than the wheat cover crop in three of the four years tested, while the 68 kg ha−1 seeding rate was greater than the low seeding rate in only one of four years for both rye and wheat. The later termination timing produced more herbage mass than the optimum in all four years. Treatments did not affect cotton plant populations and had a variable effect on yield. In general, cover crop biomass production did not reduce lint production compared to the conventional system. [ABSTRACT FROM AUTHOR]

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Beekeeping is a vital economic activity for smallholder farmers; therefore, it is essential to provide beekeepers with information regarding the profitability and productivity of box hives to encourage them to embrace the technology. However, scant information is available to comprehensively compare the profitability and output of traditional and modern beehives. This study seeks to compare the performance of traditional and modern beehives in Baringo South Sub-County. Simple random sampling was used in conjunction with a cross-sectional survey to collect data from the 197 beekeepers who participated in the study. A gross margin analysis was performed to understand the returns of traditional and modern hives. According to the findings, individuals who used traditional beehives had a higher overall operational cost of Ksh. 1449.44 per hive, whereas those who used modern hives had a total operational cost of Ksh. 1000.73. In addition, the study also demonstrated that those that utilised modern beehives received larger gross margins in Kenyan shillings 7917.74, whilst those who used traditional beehives received Ksh. 5590.59. According to the study’s findings, modern beekeeping generates higher returns than traditional beekeeping. As a result, farmers should be encouraged to employ modern beehives to generate higher returns. [ABSTRACT FROM AUTHOR]

This paper provides a theoretical framework and empirical support for an examination of corporate financial performance (CFP) from the perspective of an effect that is analogous to corporate social responsibility (CSR) advertising. We propose that not all companies are capable of "doing well by doing good." Through an analytic model, we identify three key elements for determining a company's CSR advertising‐analogous effect on CFP: the incremental margin (gross profit rate), the sales–CSR elasticity and sales demand in the market (market share). By re‐examining the equivocal relationship between CSR and CFP based on a sample of publicly held US companies from 1991 to 2018, we document that companies in the best position to undertake CSR activities (with gross profit rates, sales–CSR elasticities and market shares above the industry medians) have a superior advertising‐analogous effect to other companies. Moreover, our empirical results show that companies in the best position to undertake CSR activities face less severe agency problems when they conduct more CSR activities than other companies. Finally, in a test of whether regular advertising expenditures and CSR devotion could jointly enhance current CFP, the results show that the positive joint effect is more pronounced for companies in the best position to undertake CSR activities than for other companies. [ABSTRACT FROM AUTHOR]

This study investigates the correlation between corporate financial ratios and cultural dimensions across countries in order to guide technology firms in adapting to the current financial landscape characterized by limited borrowing options and higher interest rates. Using Hofstede's subregional continental classification, it examines the relationship between capital structure and value among 4,237 publicly listed technology firms in 46 countries. The study analyzes financial ratios and connects them with Hofstede's subdimensions of individualism and uncertainty avoidance culture. The findings reveal a significant relationship between cultural dimensions and financial ratios, with individualism and uncertainty avoidance being influential factors. Countries emphasizing individuality tend to have higher borrowing rates, whereas those with a strong preference for uncertainty avoidance exhibit higher gross margins and total debt-to-equity ratios. The borrowing rate variable does not directly affect the dimensions of femininity versus masculinity and uncertainty avoidance; however, it impacts the dimension of individualism versus collectivism. Overall, this study provides valuable insights to enable technology firms to make informed decisions, manage financial structures, and effectively navigate the current financial landscape. [ABSTRACT FROM AUTHOR]

This paper explores the theoretical economic outcome of management changes that result in different levels of antimicrobial use (AMU) in two types of UK pig farm. A static farm economic pig production model (FEPM) was used on a representative 'Top-third' most profitable farm and a representative 'Midrange' profitable farm. Three AMU theoretical management scenarios were investigated; (a) management changes leading to a reduction of AMU by 35% (AMU35); (b) more extensive management changes leading to a reduction of AMU by 95% (AMU95); and (c) implementing depopulation of the herd (AMU Depop). A sensitivity analysis was conducted to determine the effect of increases or decreases in pig revenue and feed price on farm gross margin under these scenarios. Over a single year, the AMU35 scenario was estimated to have a small positive impact (+3%) on both farm types. The other two AMU reduction scenarios had higher AMU reduction on farms but required higher variable cost and hence they resulted in lower farm profitability. There was a substantial reduction (up to -50%) in farm gross margin under these two AMU reduction scenarios in the modeled short-term time-period. The impact of the alternative AMU scenarios was slightly higher on a farm representing the 'Top-third' farm type, reducing farm gross margin further by 7% compared to the 'Mid-range' farm. Nevertheless, both farm types stay profitable under all three AMU scenarios. The results showed that in the modeled short-term implementing management changes that result in a reduction of on-farm AMU by 35% had a good economic outcome. In practice, the other two scenarios would be considered as longer-term strategies. Although both require higher initial costs to implement, the improved biosecurity and hygiene will benefit from lower disease occurrence for a longer term. Farm gross margins were, however, found to be highly sensitive to changes on market prices especially increasing feed prices. An increase of more than 15% in feed price moved a profitable farm into a loss-making farm. It will be economically challenging for uptakes of these, or similar, AMU reduction scenarios on farms if the market prices become un-favorable to pig farmers. [ABSTRACT FROM AUTHOR]

This research examines the management of fishing efforts on small pelagic purse seine vessels. Fishing business management that includes revenue profit, contribution margin (CM), breakeven point (BEP), payback period (PP), revenue cost ratio (R/C), and return on investment (ROI) on small pelagic purse seine vessels is necessary to determine the feasibility of a business. Based on the research results, the gross profit was IDR 1,045,192,000, and the net profit was IDR 830,561,667. CM obtained IDR 1,045,192,000. The BEP found that catch production should reach 17,337 kg with a sales value of IDR 570,956,377. The return period, or PP, is 3 years and 5 months. R/C is 1.43. The ROI calculation is 29%. Based on the calculations that have been made, the fishing business on small pelagic purse seiners at PPP Bajomulyo is considered a profitable business, so it is worth continuing. [ABSTRACT FROM AUTHOR]

Featured Application: Pulsed Electric Fields (PEF), a non-thermal technology, can assist conventional olive oil extraction with a positive impact on production efficiency, maintaining the extra-virgin classification. This study evaluated the impact of PEF on the "Galega Vulgar" cultivar for the first time on a pilot scale. Its application at the industrial level should be investigated based on the promising results obtained. This study aimed to investigate the impact of Pulsed Electric Fields (PEF) technology in the extraction of olive oil on a pilot scale, using the "Galega Vulgar" olive variety as raw material. The extraction assisted by PEF had a malaxation time of 30 min and was compared with the traditional process of 45 min of malaxation. The main quality parameters of olive oil and the PEF's cost-benefit assessment were performed. The incorporation of PEF in olive oil production reduced the malaxation stage by 33% without compromising the yield or extra-virgin classification. This efficiency leads to a potential 12.3% increase in annual olive oil production, with a 12.3% and 36.8% rise in revenue and gross profit, respectively. For small-scale production, the considerable upfront investment required for PEF equipment may be a challenge in terms of return on investment. In this scenario, opting for a renting scheme is the best economic solution, especially given the seasonal nature of olive oil production. In medium- to large-scale production, the investment in PEF is a sound investment since it is possible to achieve, with an equipment cost of EUR 450,000 and a production output of 5 tons per hour, an annual ROI of 20%. [ABSTRACT FROM AUTHOR]

This paper gives empirical evidence from Tanzania on the influence of financing decisions on the performance of non-financial firms listed in the Dar Es Salaam Stock Exchange (DSE). The study used secondary data from 2007 to 2021. EViews software was used to perform the analysis in which descriptive statistics, correlation, and regression analysis were performed. Two leverage ratios were used to measure financing decisions, short-term debt to total assets (STDTA) and total debt to total assets (TDTA), and three accounting-based measures, return on assets (ROA), return on equity (ROE) and gross profit margin (GPM) as a proxy of firm performance. At the same time, firm size (FS) and sales growth (GR) were used as control variables. The findings based on descriptive statistics revealed that non-financial firms depend mainly on shortterm debt for their investments. Also, the panel regression model results indicated that STDTA and TDTA negatively impact ROA. Similarly, TDTA was statistically significant with ROA. Moreover, STDTA and TDTA showed mixed results for ROE and GPM, with a significant negative and positive association with ROE, respectively. FS is reported to significantly impact firms' performance, while GR appears to impact ROA positively. The study concludes that the financing decisions of listed non-financial firms in Tanzania weakly influence the performance of firms. Researchers suggest that companies should make suitable financing decisions with attention to lower the cost of capital, enhancing financial stability, and maintaining firm performance. [ABSTRACT FROM AUTHOR]

The paper presents the results of the gross margin of three lines of production of medicinal herbs: mint, lemon balm and marshmallow. The importance of improving the production of these herbs has been presented in the form of gross margins. All three herb species achieved the highest gross margins in 2023, which was the criterion for choosing them for the research. The structure and participation of individual variable costs for all three production lines has been presented in relation to total variable costs. A sensitivity analysis was performed, in order to study the impact of price and yield changes (10% and 20% increase and decrease in all three production lines, and the impact of changes in the two largest costs for each production line, 10% and 20% increase and decrease in costs). Based on all the analyses, it can be concluded that the production of mint, lemon balm and marshmallow is very profitable, where around EUR 4,000-EUR 7,500 per ha of profits can be achieved. [ABSTRACT FROM AUTHOR]

This study, which aims to analyze the causes of Cameroon's permanent dependence on rice imports, is inspired by the observation that the expense linked to rice imports has a very negative influence on the Cameroonian trade balance; however, the country produces rice which is mainly exported to certain neighboring countries. To carry out this study, the objectives were set to analyze the marketing channels of Cameroonian rice, and to identify the factors that favors rice consumption. The target populations are traders and consumers of rice in Cameroon. The regions covered are those of the Far North, North, and Center, which produce most of the rice in Cameroon. To collect data in the field, questionnaires and interview guides were developed. As for the traders, an interview guide was used to collect information, after carrying out a categorization. For this purpose, local wholesalers of paddy rice, foreign wholesalers of paddy rice, foreign wholesalers of processed rice, retailers of markets close to production areas, local wholesalers of processed rice, wholesale retailers, supermarkets, and shopswere identified. At the consumer level, populations residing in production areas, populations in metropolises close to production areas, and populations in metropolises far from production areas were identified. The data collected was analyzed using software such as SPSS and Excel spreadsheet. The tables and figures made it possible to clearly present the results, and thus facilitate their interpretation. It therefore appears that wholesalers of paddy rice who sell it directly to foreign buyers, making a gross margin for an 80 kg bag which varies between 2,000 and 3,000 FCFA, while those who process before reselling on the local market make barely a margin of 500 FCFA. In addition to this observation, we observe that wholesalers of processed rice who sell their products in metropolises far from the production basins have a gross margin which is completely double that observed in the metropolises close to the production basins; which is justified by the presence of intermediaries, and the transport costs necessary to ensure the transition of rice from production areas to consumption centers. The results show that 43.2% of Cameroonians consume on average 1 kg of rice per day; but unfortunately, most are not aware of the existence of locally produced rice, and even those who are aware of it cannot easily find it on the market. In the metropolises of the southern zone of Cameroon, for example, we have around 50% of the population who are not aware of the fact that there is rice produced in Cameroon, 30% of the population who are informed but never had the opportunity to consume it. In view of all these parameters, Cameroonian rice is oriented primarily towards neighboring countries which are closer to the production basins, while the country continues to import rice from outside to satisfy the needs of its populations. [ABSTRACT FROM AUTHOR]

The aim of this study was to evaluate the effect of replacing soybean meal with cottonseed cake in the diet offered to Santa Inês sheep on their performance, carcass yield and economic viability. Thirty-two uncastrated male sheep (27.48 ± 4.96 kg and 12 months old) were distributed in a completely randomized design, with 4 treatments (replacement of 0, 14, 28 and 42% of soybean meal with cottonseed cake in dry matter basis) and 8 replications. The inclusion levels of cottonseed cake in their diet provided a reduction in performance, thoracic perimeter, body capacity (measured in vivo), slaughter body weight, hot and cold carcass weights, external length, rump perimeter, thoracic perimeter, carcass compactness index, and leg compactness index (p < 0.05). The weights of the left half carcass, shoulder, neck, loin, and leg were reduced with increasing levels of cottonseed cake in their diet (p < 0.05). The quadratic effect was observed for the rib weight and the yield (p < 0.05). Diets with cottonseed cake had lower total feed costs/animal, revenue, gross margin, and leveling price, and had a higher benefit/cost. Under experimental conditions, despite reducing the feed costs and presenting an improvement in the cost ratio benefit, the use of levels up to 42% of cottonseed cake in sheep diets is not recommended, as it negatively affects the animal performance, carcass weights, and commercial cuts. [ABSTRACT FROM AUTHOR]

Small-scale aquaculture in Malawi contributes to nutrition and food security, and serves as a rural income diversification strategy. Nevertheless, its adoption is low. Drawing on a recent survey of 732 small-scale fish farms across the country, this study assesses the production, yield, profit, and profit per square metre of small-scale fish farms and explores their determinants using regression analysis. Most fish farms are owned and managed by individual farm-households, though communally owned farms are also present. Small-scale aquaculture is found to be profitable, though the gross margins are slim. Regression results reveal that production and profit are positively associated with the use of farms for both fingerling and grow-out production and the number of years the farm has existed, while yield and profit/m2 are positively associated with the use of high-quality inputs such as commercial feed and inorganic fertilisers. These results suggest that small-scale fish farmers in Malawi and other similar settings should adopt improved technologies and follow best on-farm management practices to increase production and profits. This study contributes to the discourse on the pathway through which aquaculture in Malawi can best contribute to the country's development. [ABSTRACT FROM AUTHOR]

To develop a simple and robust generic tool to measure the impacts of livestock diseases on New Zealand dairy, beef and sheep farms using enterprise gross margin models. The most recent (2018–2020) livestock production benchmarking data was extracted from industry-led economic surveys. Gross margin models were built for each enterprise type, accounting for 11 dairy farm types and 16 farm types for beef and sheep. Disease parameters, including changes in mortality, reproduction performance, milk yield, price of animals and culling rate, as well as additional expenses for veterinary intervention, were applied to the infected compartment of the herd/flock using the assumed annual within-herd disease incidence. Farm-level disease impacts were estimated as the difference in annual profit between the baseline and infected farm. The baseline gross margin models were validated against the industry data. The disease impact models were validated using a recently published study on bovine viral diarrhoea (BVD). The impact assessment tool, LIME-NZ, was developed using the statistical software R and implemented in the web-based R package Shiny. The input parameters can be varied interactively to obtain a range of disease impacts for uncertain disease parameters. The baseline gross margin models demonstrated reasonable accuracy with a mean percentage error of <14% when compared with the industry reports. The estimated annual impacts of BVD were comparable to those reported in the BVD study, NZ$38.5–140.4 thousand and $0.9–32.6 thousand per farm per year for dairy and beef enterprises, respectively. LIME-NZ can be used to rapidly obtain the likely economic impacts of diseases that are endemic, recently introduced or at increased risk of introduction in the New Zealand context. This will aid communication and decision-making among government agencies and the livestock industry, including veterinarians and livestock producers, about the management of diseases, until refined information becomes available to improve decision-making. [ABSTRACT FROM AUTHOR]

Aim: A positive resection margin (RM) is associated with poor survival after gastrectomy for gastric cancer (GC). However, the adequate RM length to avoid a positive RM remains controversial. We performed a systematic review to examine the RM length required to avoid a positive RM in gastrectomy for GC. Methods: This systematic review involved all relevant articles identified in PubMed, the Cochrane Library, Web of Science, and ClinicalTrials.gov until August 2023. The incidence of a positive RM related to the RM length and the possible incidence of a positive RM estimated from the discrepancy between the gross and pathological RM length were evaluated. The Newcastle–Ottawa Scale was used to quantify study quality. Results: Thirteen studies involving 8983 patients were analyzed. Investigation of the incidence of a positive RM in relation to the RM length showed that a proximal RM length of 6 cm guaranteed a negative RM in gastrectomy. Analyses of the possible incidence of a positive RM revealed that a negative RM would be guaranteed if the proximal RM length was 6 cm in distal gastrectomy, if the esophageal resection length was 2 cm in total gastrectomy for GC without esophageal invasion and 2.5 cm in total or proximal gastrectomy for GC with esophageal invasion or esophagogastric junction cancer, and if the distal RM length was 4 cm in proximal gastrectomy for early GC. Conclusions: The adequate RM lengths to ensure a pathologically negative RM in each type of gastrectomy for GC were herein suggested. [ABSTRACT FROM AUTHOR]

The selection of suitable highbush blueberry cultivars is a prerequisite for obtaining an optimal yield that determines the profitability of production and competitiveness on the market. The study assessed the production efficiency of highbush blueberry cultivars concerning the fruiting period, taking into account the size of the plantation, and evaluated the economic efficiency of the fruiting period. Production efficiency was assessed based on yields obtained according to data from 15 production plantations from all over Poland in 2020-2022. Economic efficiency was determined by analysing the production value, the amount of costs, and the Gross Margin. It was shown that yields of highbush blueberry cultivars differed depending on the ripening time. Generally, the highest yields were obtained in cultivating varieties with middle ripening time. The analyses show that the most prolific varieties in the three-year study, starting from the early to late ones, were Spartan and Duke, Bluecrop, Chandler, Aurora and Nelson. The cultivation of highbush blueberries was profitable in all the analysed plantation groups in the analysed years, although the level of economic production efficiency differed depending on the fruiting period of the cultivated varieties. [ABSTRACT FROM AUTHOR]

The sustainable implementation of resources and the transition to low-carbon construction is on the world's daily agenda. This paper describes the development of criteria for the efficient management of material resources in low-carbon construction. Net income, gross profit, balance sheets, and equity are proposed as indicators that serve as criteria for assessing the efficient use of resources. Nonlinear regression models were the methodological basis for the establishment of cause-and-effect relationships of the volume of construction of transport structures. It was established that since construction companies do not purchase materials for storage, the cost of materials for use in low-carbon technological construction work is directly proportional to the cost of construction. The volume of production in the construction industry is determined by construction costs. More efficient use of low-carbon materials reduces cost and construction waste. In this paper, we have established the relationship between the indicator of efficiency for the functioning of the construction enterprises in Ukraine and the use of low-carbon materials for the construction of transport structures. The practical value of the obtained results for low-carbon construction management lies in proving the relationship between the performance indicators of the construction enterprise (net profit, gross profit, output volume, balance sheets, and equity capital) and the use of low-carbon material resources. Our results form the basis for future research into the use of a cost-based model for low-carbon economy transition in municipalities and regions. [ABSTRACT FROM AUTHOR]

This paper addresses one of the key challenges in the China Railway Express (CR Express) service industry, which is the asymmetry of information between the government and a CR Express operator. We formulate the CR Express service delivery problem with asymmetric information and other unique characteristics as the incentive compensation problem via the principal-agent approach. This is the first paper to develop an incentive-compatible (IC) compensation mechanism to improve CR Express service in the presence of adverse selection and moral hazard. Compared to the generic form of compensation, this paper proves that such an IC scheme with a linear compensation contract is optimal. Our optimal compensation mechanism provides a "positive incentive", where the monetary compensation is higher for the CR Express operator with lower operating costs, as opposed to the current compensation policy, which can create a "negative incentive". We find both underestimation and underinvestment problems, which become smaller when the CR Express operator's gross margin is relatively high. When the CR Express service level is discrete-valued, it is optimal to adopt a fixed compensation scheme. Finally, in the scenario with multiple CR Express operators, we propose a generalized Vickrey (GV) auction, which implicitly obtains both true gross margin and service level. The compensation offered by the government is indeed negative in the case of GV auction. Surprisingly, in this scenario, we find problems of both underestimation and overestimation. • This is first paper on compensation mechanism for government and logistics providers. • A novel generalized Vickrey auction can induce providers to tell true information. • The proposed compensation mechanism extends existing principal-agent theory. • Some interesting economic and managerial insights are given. [ABSTRACT FROM AUTHOR]

We analyze the factors that explain banks' profitability globally and by region. With increasing globalization, knowing the different aspects of bank profitability is essential for countries' financial stability and economic growth. This study used a sample of 2,091 commercial banks operating in 110 countries grouped into major world regions. With random effect regression models, the global results show that the internal factors that explain the bank´s profitability are listed entities, impaired loans, efficiency, gross interest margin, and capitalization. For its part, the most significant external factors are related to the position of the countries in the ranking by assets, inflation, unemployment, interest rates, and economic growth. From a regional perspective, the results allow us to deduce with high robustness the existence of variable sets that determine bank profitability in each region and that regional models outperform global models in most cases. [ABSTRACT FROM AUTHOR]

Cow-calf systems are at the core of Argentina´s significant national beef industry. The objectives were: i) to characterize the productive state of traditional cow-calf systems, named BASE, from the northern region of Santa Fe province, ii) to identify technologies for the productive improvement of the BASE system, and iii) to quantify the productive and economic impact of the adoption of the identified technologies. To characterize the BASE system, the available published data were systematized and validated in a workshop with leading regional experts in the field. To identify the technologies for improvement, a survey was conducted among regional farm advisors. Finally, to quantify the impact of adopting improvements in the BASE system, a modelling study was conducted. The results showed that traditional cow-calf systems have low productive and reproductive efficiency (45 kg LW ha-1 year-1 and 48% weaning rate) and little adoption of herd management and forage production technologies. The technologies identified were grazing management, training of farmers and farm staff, and seasonal mating. The modelling study showed that improvements in the production and use of forage and herd management practices would increase beef production and the gross margin of the BASE system by 70% and 96%, respectively. [ABSTRACT FROM AUTHOR]

Context. Australian grain producers may need to report their farm greenhouse emissions. Accordingly, nitrogen fertiliser application strategies will need to include consideration of their environmental as well as economic impacts. Aims. We aim to identify the nitrogen application strategies suited to dryland cropping in Western Australia that are highly profitable and that generate lower emissions. Methods. Simulation modelling is used to examine the gross margins and emissions associated with four broadly different nitrogen strategies at 14 locations in the grainbelt of Western Australia for different frequencies of cropping. Key results. Strategies that generate high gross margins and moderate emissions often focus on maximising the gross margin of crop production, and apply a decile 5 view of unfolding seasonal conditions. A similarly useful strategy applies nitrogen in a fixed ratio where a tonne of expected cereal receives 45 units of nitrogen from various sources, and a tonne of expected canola receives 70 units of nitrogen from various sources. Where a farmer prefers to apply a constant rate of nitrogen, then exceedingly high or low rates of application should mostly be avoided, either for economic or for environmental reasons, with the better option at many locations being to apply 50 or 75 kg N/crop ha. Conclusions. A few preferred nitrogen application strategies are suggested to be applicable to dryland cropping in the study region. The strategies achieve high profits and generate moderate or low emissions. Implications. Selection of highly profitable and lower emission nitrogen application strategies across the study region can deliver sizeable economic and environmental benefits. [ABSTRACT FROM AUTHOR]

In recent years, web marketing has thrived, and online coupon distribution has become a significant marketing measure that leads to increased sales. However, randomly distributing coupons risks lowering the profit ratio of companies. Therefore, it is important to estimate the effect of coupons and analyze the causal relationship between coupons and results. The potential purchase intention (PPI) of users is believed to influence the effect of coupons. For example, distributing coupons to users with a low PPI is likely to increase the gross profit of companies, whereas distributing coupons to users with a high PPI is likely to decrease the gross profit. Therefore, by analyzing the relationship between PPI and the effect of coupons, highly effective targeting can be conducted based on the PPI. In this paper, we propose an experimental design based on machine learning to analyze the effect of coupons, which varies depending on the PPI. We propose a method to predict users' PPI based on their purchase history data using machine learning and analyze the relationship between PPI and the effect of coupons. Finally, we demonstrate the effectiveness of the proposed framework by applying it to real-world data. [ABSTRACT FROM AUTHOR]

In this study, it was aimed to analyze the cost and profitability of carnation production in Isparta province, Türkiye. The main material of the study was the data obtained by survey method from producers growing carnations in Isparta province. Data were collected by face-to-face interviews with producers. 25 producers were interviewed according to the complete count method. Farms were examined by dividing them into two groups according to their size. According to the research results, total land assets, carnation production area and number of parcels per farms II it was found to be higher in the group. Carnation area accounted for 85.70% of all land assets. It was found that the farms under investigation grew the Standard and Spray carnation kinds. Production costs per decare were lower in Group I. Production costs per branch were lower in the farms in Group II due to higher productivity. Average gross and net profit per decare IIt was found to be higher in group farms. Profit margin per branch and the ratio of profit margin to sales price are similarly shown in the group II were higher in group farms. As a result, it can be said that large farms are more advantageous in terms of economic criteria. Therefore, it is important to support farmers in growing their carnation-producing regions. [ABSTRACT FROM AUTHOR]

This study aims to conduct an economic analysis of the farms breeding rainbow trout in cages in Türkiye. The study was carried out at Karacaören-I Dam Lake in the Western Mediterranean Region of Türkiye. The primary material of the study was the data gathered using the survey approach from all 21 farms. The farms were divided into three groups according to their capacities. According to the results, it was determined that as the size of the farm increased, the production costs per tonne decreased, and the gross and net profits, as well as the relative return, increased. In Groups I, II, and III, production costs per tonne were determined as $1,975.57, $1,703.01, and $1,384.23, respectively, and net profit was $514.21, $724.60, and $1,388.31. It was found that the profit margin of 1 kg of trout and the ratio of profit margin to sales price increased as the farm groups grew. Accordingly, farms in Group III made a profit of 48.90% from each kg of trout they sold, while farms in Group I earned 18.33% and in Group II made a profit of 28.23%. With these results, it was established that large farms were more advantageous from an economic standpoint. [ABSTRACT FROM AUTHOR]

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Sustainability of the rice production and farmers’ income in Nigeria raises a serious concern due to the rising costs of production inputs and other factors beyond farmers’ control. As a result, the study compared the cost and returns of rice production in North central, Nigeria. A multistage sampling technique was used to select 387 rice farmers in the study area. Descriptive statistics, gross margin analysis and seeming unrelated regression were used to analyze the dataset collected. The findings revealed that most of the rice farmers were male, averagely young and have at least 9 family members in their respectively households. Results from Kwara State showed that total cost is higher among the upland rice farmers compared to their lowland counterparts, but reverse was the case in term of net profit, as this favoured the lowland rice farmers. For Niger State and pooled data, the lowland rice farmers had higher net profit than the upland rice farmers. Seemingly unrelated regression estimates indicated that costs associated with fertilizer, herbicide, seed, pesticide and labour used were significant and influencing factors affecting the revenue of rice farmers in the study area. While inaccessibility to cheap farm inputs was the major constraint affecting the rice farmers, other challenges include lack of storage, inadequate rainfall and inadequate credit facilities. The study recommended seamless access to improved rice varieties by the farmers as this can scale up adoption of improved technologies, boost production and ultimately the net revenue of rice farmers. Farmers are also advised to join and/or form a registered occupational groups through which credit facilities can easily be accessed, to expand the farming operations because of the positive and complementary role of social group and access to credit. [ABSTRACT FROM AUTHOR]

SMEs are pivotal in South Africa's economic growth path and the sector is identified as the key provider of employment, projecting that by 2030, ninety percent of jobs in SA will be created through SMEs. Unemployment in South Africa is at an all-time high, more than 30 percent of the economically active population is without jobs since South Africa's democratically elected government. Thus, this study explored the operational efficiency factors that are largely controlled by SMEs, which could impact their growth. Data from a quantitative research design using an online survey was analyzed using descriptive and inferential statistical techniques. It was ascertained that operational efficiency (OE) is positively related to SME growth. The study tested eight (8) factors of growth, namely, the number of people employed, sales, revenue, gross profit, value of assets, number of customers, number of vendors and number of suppliers. The findings reveal that all eight (8) growth measures combine to form a reliable composite variable that can be used to measure growth in small businesses. A significant contribution of the study is that the seven OE practices, namely, Lean practice, Supply Chain Management, Human Resource Management, Technology, Innovation, Marketing, and Quality, that comprise sub-elements of OE, Technological Practices and Innovation are significant predictors of small business growth. Thus, SMEs that embrace technological and innovation practices are more likely to survive and grow and consequently create jobs. [ABSTRACT FROM AUTHOR]

Background: Price setting is a determinant of a company's profitability especially in the sector of creative industry (CI) and is intensively discussed in academic and business area. Purpose: The aim of this research paper is to investigate whether a well-defined and successfully implemented pricing strategy can significantly affect the profitability of companies in the creative industry. Study design/methodology/approach: This study investigates the differences in interval variables, including financial indicators, number of price management techniques, and price management metrics, between companies that have implemented pricing strategies and those that have not. To assess this, a two-sample ttest was used to compare the variables between the two groups. Since the creative industry is highly heterogeneous, we have analyzed the profitability of creative sub-industries more in detail through ANOVA test. Findings/conclusions: As it turned out, the analyzed parameters do not differ significantly in their average values, except for the parameter "Gross margin", where a statistically significant difference in average values was confirmed. Based on the findings of studies conducted by other authors as well as our own analyses, we conclude that assessing CI's profitability relative to other industries is inappropriate and represents only a simplistic view of the industry's performance. It is important to observe the profitability in each subindustry of CI, because the nature of the product (output) is different in each segment of this industry. Limitations/future research: Despite the initial findings, it was recognized that the research was limited to a single country and a specific industry. To gain further insight into the pricing and profitability of companies in the creative sub-industries and cultural industry, subsequent research should be conducted. It would also be useful to link the topic of pricing and profitability with the theme of revenue models including pricing models, pricing metrics and payment systems. [ABSTRACT FROM AUTHOR]

Due to the growth in the consumption of avocado in recent years, the amount of waste caused by avocado peel and seed has increased. Avocado waste can be transformed into valuable products such as energy, biofuels, and biological products using integrated processes in a biorefinery. This paper considers the detailed modeling, simulation, and optimization of a biorefinery for the production of phenolic compounds, bioethanol, biological xylitol, syngas, and electrical power from avocado seed and peel, using Aspen Plus in equation-oriented mode as a process simulation tool. For a biorefinery in nominal conditions, it is possible to achieve a gross profit of approximately 30 × 10 6 USD/year for capital costs of USD 31.4 × 10 6 , while the combined effect of process optimization and heat integration allows reaching a gross profit of 37 × 10 6 USD/year for capital costs of USD 30.7 × 10 6 . These results of the optimized plant show its potential to take advantage of avocado seed and peel in a profitable and sustainable way. This detailed equation-based model paves the way for superstructure optimization of a biorefinery for avocado waste processing. [ABSTRACT FROM AUTHOR]

In this study a linear programming model was applied and the main structural and economic characteristics of the optimal organization of Greek goat farms were analyzed. The analysis was based on farm accounting data collected from 96 goat farms in northern Greece, through face-to-face interviews with farmers. The farm size in terms of does was used as a classification criterion and three farm size groups were formulated (small/medium/large size farms). Based on technical and economic data calculated for the surveyed farms and on specific indicators defined by livestock experts, a linear programming model was implemented for each of the three size groups of farms and the optimal plans under which farms maximize their gross margin were estimated. The optimal plans reveal the main structural characteristics of the farms and indicate the adjustments required to fully exploit the available technology. The results show that under the optimal plan all farms should increase the number of animals they rear. Small farms make full use of the available grazing land, while there is a small reduction in the use of grazing land in medium and large size farms. The farms under the optimal plans recommend to reduce production of feed on-farm and procure feed from the market, and produce cheese on-farm. The optimal structure indicates that goat farming should return to its traditional features and become a purely livestock farming activity operating under extensive production systems, making use of pastures of mountainous/disadvantaged areas, and avoiding excessive use of fodder. Under the production pattern, the farms will reduce production costs and improve their resilience and sustainability. [ABSTRACT FROM AUTHOR]

The marketing of fresh tomatoes is faced with many challenges mainly due to their high perishability and seasonality. This sometimes results in a lot of wastage and thus a decrease in the profits of the marketers. The study analyzed the marketing of fresh tomatoes in Abeokuta North Local Government Area of Ogun State with the aim of determining how profitable the venture was in the study area. A two-stage sampling technique was used to select 240 tomato marketers for the study. Primary data collected from the respondents with the use of well-structured questionnaires were used for the study. The objectives of the study were achieved using descriptive statistics, gross margin analysis, marketing margin analysis, and multiple regression analysis. The study revealed that the majority (76.7%) of the marketers were female. Most (70.9%) were within the age bracket of 31-50 years and 22.5% of them had no formal education. The cost and return analysis revealed that all of the marketing (100%) costs were variable and 90.4% was the cost of purchase. The total revenue was ₦181,845.35 (about 227 USD) and the marketing margin was 27.03%. The enterprise was profitable, with a gross margin of ₦55,102.45 (about 69 USD), and returns per naira invested were ₦1.43k. Gender, purchase price of tomatoes, transportation costs, marketing experience, and level of education were significant determinants of the quantity of the produce purchased by marketers for sale. The study concluded that fresh tomatoes marketing is a profitable venture in the study area. Therefore, the study suggested, among other things, that the government should construct new access roads and rehabilitate existing ones to make transportation of fresh tomatoes from the farms easier and cheaper for marketers. [ABSTRACT FROM AUTHOR]

Purpose: This research investigates safety practice compliance among urban vegetable farmers in Ghana's Ashanti Region and its implications for the environment, farmers' health, and consumer safety. Design/methodology/approach: An empirical approach was adopted, utilizing field survey data from 387 urban vegetable farmers in key vegetable-producing communities. The study employed various data analytical techniques, including frequency distributions, a Bonferroni multiple comparisons test, and ordered logistic regression. Findings: The research emphasizes the need for enhanced awareness and education among farmers to ensure adherence to safety practices. It reveals a significant positive relationship between farmers' awareness and compliance, underlining the role of informed decision-making and knowledge dissemination. Additionally, higher gross margin values are associated with increased compliance, indicating the motivating influence of profitability in allocating resources for safety measures. Furthermore, farming experience is positively linked to compliance, emphasizing the importance of practical knowledge and expertise. Practical implications: Based on the findings, the research offers policy recommendations to promote compliance with safety practices. These include enhancing farmer education and awareness programs, improving profitability and market access, fostering knowledge-sharing platforms, addressing affordability concerns, and strengthening enforcement and monitoring. Implementing these measures will enhance compliance, safeguarding the well-being of farmers, consumers, and the environment, thereby ensuring the long-term sustainability and growth of Ghana's urban vegetable sector. Research limitations/implications: While this study focused specifically on urban vegetable farmers, pesticide usage extends beyond vegetable production in Ghana. Future research should incorporate essential crops like maize, cassava, and rice to provide a more comprehensive assessment of pesticide practices and their implications in the broader agricultural context. [ABSTRACT FROM AUTHOR]

Purpose of the Study: Ube has a significant production volume in Quirino Province, but it faces challenges in generating high profits due to limited post-harvest activities and low awareness of its nutritional composition. To address these issues, this comprehensive evaluation aims to examine the nutritional value, financial viability, and profitability of fried ube noodles. Methodology: Ube-based products' nutritional value is analyzed using the IPO model and various methods such as the Biuret Method and Moisture Analyzer. The study also evaluates manufacturing costs and profitability using gross profit margin (GPM), net profit margin (NPM); and return on investment (RoI). Main Findings: The analysis demonstrates that the product is profitable, with a GPM of 54.35%, NPM of 19.43%, and ROI of 24.11%. The 6 Ps study suggests various strategies, including awareness campaigns, involvement of health professionals, product diversification, collaborations with local farmers, research publication, patent opportunities, and lobbying for industry policies. Implications: These strategies leverage the nutritional value of fried ube noodles to increase market visibility and support sustainable growth across People, Services, Products, Places & Partnerships, Publication, Patents, and Policy. The study provides fried ube noodle operators with comprehensive information for decision-making and strategic planning. [ABSTRACT FROM AUTHOR]

This study investigates the stock valuation implications of the strategic spin-off plan involving Tawal, the biggest telecom tower infrastructure provider in Saudi Arabia, a 100% owned subsidiary of the Saudi Telecommunications Company (STC). Saudi Public Investment Fund (PIF) has sent a nonbinding offer to acquire 51% of Tawal's shares from the STC group, which is aligned with the Saudi Vision 2030 strategy. The findings of this research contribute nuanced insights into the relationship between spin-offs and stock valuation within the context of the telecommunications industry. By scrutinizing the anticipated impact of the Tawal spin-off on STC stock price, this study provides valuable information for investors and the STC group navigating the strategic decisions and their implications for the stock value. The research employs a comprehensive stock valuation framework with absolute-relative valuation, internal-external analysis, and risk assessment to gauge the potential effects on STC's respective stock values of the Tawal spin-off. Comparative analyses conducted within the telecommunications sector in Saudi Arabia offer valuable benchmarks for assessing the performance of STC Group. According to the intrinsic valuation approach and the Discounted Cash Flow model, STC stock price is undervalued compared to the stock price of 19th November 2023 by 38.3 SAR. Assuming the spin-off failed, obtaining the fair price at 41.5 SAR per share based on the DCF model and 54.2 SAR based on the relative valuation PE ratio. If the Spin-off is agreed upon and concluded, the fair price is valued at 42.6 SAR per share based on the DCF model. Sensitivity analysis and Monte Carlo simulation resulted in two results: the gross profit margin is a sensitive variable of the stock price movement, and the buy option is preferable. In line with that, STC has a solid holding organization, is financially healthy, and has sustained a competitive advantage. STC is expected to deploy the liquidity into investment and expansion in the region and globally, generating a higher return to satisfy the investor interest. [ABSTRACT FROM AUTHOR]

The article attempts to answer the question posed in the title -- is the tax wedge in Poland non-linear? The aim of the article is to present changes in the size of the tax wedge with the increase in gross pay, and to examine whether there is a pay threshold beyond which the size of the tax wedge decreases. In the course of the research, the impact of gross pay on the size of the tax wedge was compared. The study also attempts to indicate the gross pay, beyond which the size of the tax wedge increases again. A hypothesis was formulated that there is a pay threshold beyond which the tax wedge loses its linear character. The comparative analysis of the size of the tax wedge was carried out on twenty-three variants of gross pay. The results show that after exceeding the gross spay of PLN 20,100, the tax wedge loses its linear character. [ABSTRACT FROM AUTHOR]

Purpose: The aim of this paper is to test the hypothesis of the occurrence of increased margin values in the mining and extraction industry in an environment of increased CPI inflation rates in selected EU countries. Design/methodology/approach: The study used selected quantitative methods, including: categorising companies by mean and standard deviation and the Kruskal-Wallis test for nonparametric independent variables. Findings: The study showed that an increase in margins was observed in France and Italy in the 2021 and 2022 periods analysed. The largest increase was found in France, where the median gross profit margin increased from 3.5 per cent between 2015 and 2020 to 7.3 and 6.3 per cent, respectively, between 2021 and 2022. Research limitations/implications: A significant limitation is the limited access to complete data. In addition, the analysis included countries that differ in terms of the availability of raw material deposits and also have varying levels of socio-economic development. As soon as more data becomes available, it would be worth expanding the area of analysis. Practical implications: The occurrence of increased gross profit margins is a phenomenon limited to selected countries and not generally observable in the global market. These findings can be valuable for understanding economic trends in specific regions and can help isolate countries where companies experience higher margins compared to others. Our research provides basic information that can provide a starting point for decision-makers involved in the extractive sector at both EU and individual EU member state level. The conclusions drawn by the authors suggest the need for further exploration of the identified research area. Originality/value: To our knowledge, this is one of the first articles on the verification of elevated margin values in the mining and extraction industry. The study contributes to the assessment of the adaptability of the European Union mining and quarrying industry and the phenomenon of increased margins. [ABSTRACT FROM AUTHOR]

Context: Production of rainfed (dryland) cotton (Gossypium hirsutum L.) occurs in many places globally, and is always burdened with greater uncertainties in outcomes than irrigated cotton. Assessing farm financial viability helps farmers to make clearer and more informed decisions with a fuller awareness of the potential risks to their business. Aim: We aimed to highlight key points of uncertainty common in rainfed cotton production and quantify these variable conditions to facilitate clearer decision-making on sowing dates and row configurations. Methods: The consequences of these decisions at six locations across two states in Australia, given estimates of plant-available water at sowing, are expressed in terms of comparable probability distributions of cotton lint yield (derived from crop modelling using historical weather data) and gross margin per hectare (derived from historical prices for inputs and cotton lint yield), using the copula approach. Examples of contrasting conditions and likely outcomes are summarised. Key results: Sowing at the end of October with solid row configuration tended to provide the highest yield; however, single- and double-skip row configurations generally resulted in higher gross margins. Places associated with higher summer-dominant rainfall had greater chance of positive gross margins. Conclusion: In order to maximise the probability of growing a profitable crop, farmers need to consider the variabilities and dependencies within and across price and yield before selecting the most appropriate agronomic decisions. Implications: Given appropriate data on growing conditions and responses, our methodology can be applied in other locations around the world, and to other crops. We highlight key points of uncertainty common in rainfed cotton production and quantify these variable conditions to facilitate clearer decision-making on sowing dates and row configurations. The potential profits at six locations in Australia were derived by combining simulated yields and historical cost data, and were compared under different growing conditions. Given appropriate data on growing conditions and responses, our methodology can be applied in other locations around the world, and to other crops. [ABSTRACT FROM AUTHOR]

In recent years the question of labour productivity has gained new relevance as a result of digitalization and economic crises, and their effects on the transformation of distributive trade business. The purpose of this study is to make a comparative analysis of labour productivity in the wholesale and retail trade in Bulgaria and ten countries of Central and Eastern Europe that have made the transition to a market economy and to bring out the trends and reasons for the labour productivity gap. The analysis is descriptive and mainly uses the outpace ratio to measure the productivity gap between Bulgaria and each of the countries through a comparison of two main indicators: turnover and gross margin per person employed. The data from Eurostat are used with a focus on the period between the two economic crises in 2008 and 2020-2021. [ABSTRACT FROM AUTHOR]