High Level Of Profitability Research Articles

Economic analysis of fish processing and marketing in Ogun Waterside Local Government, Ogun State, Nigeria

This study examined the economic analysis of fish processing and marketing in Ogun Waterside Local Government Area of Ogun State, Nigeria using structured, validated and pre-tested interview schedules to collect primary data from one hundred and thirteen respondents. Descriptive analysis was used to analyze the socio-economic characteristics, access to productive resources and constraints faced by fish processors while budgetary analysis was used to determine profitability. The result reveals that 99.0% of the respondents were females, 57.4% were within their active economic age group (41 - 50 years), about 50.0% were educated and 82.3% were married. The scale of operation was on small scale level. The result of the budgetary analysis show that average total cost of N53,530.08 was incurred, average total revenue of N58,340.71 was realized and a returning gross margin of N37,088.44. The profitability ratio gave a benefit-cost ratio of 1.089 and expense structure ratio of 0.0603. This is an indication that fish processing business is profitable and viable in the study area. Despite the high profitability of the business, fish processors identified lack of collateral security for bank loan (96.5%), erratic power supply (92.0%) and lack of modern fish processing facilities (43.4%) as their most prevailing problems. With this high level of profitability and viability in fish processing and marketing, it is recommended that Government, cooperative societies, private bodies and non-governmental organizations should provide basic amenities such as storage facilities, electricity, transportation facilities and modern fish processing facilities in other to boost fish production in Nigeria as well as single digit Bank loan with civil servants as guarantors as means of collateral security.

Performance evaluation on aquatic product cold-chain logistics

Purpose: The requirements for high quality and diversification aquatic products are increasing with the improvement of Chinese living standard. However, the distribution between place of production and place of consumption are uneven, which results in large cold-chain logistics demand for aquatic products. At present, the low-level development of cold chain logistics has a bad impact on the circulation of aquatic products in China. So it is very urgent to develop cold-chain logistics in China. Design/methodology/approach: In order to do this, we apply performance evaluation, a well-known management tool, to study Chinese aquatic product cold-chain logistics. In this paper we first propose SISP(Subjects, Indexes, Standards, and Phases of performance evaluation) model and ACSSN model(Aquatic product, Customer, Supply Chain, Society, and Node enterprises of supply chain) for aquatic products cold-chain logistics performance evaluation. Then an ANP-Fuzzy method is proposed to evaluate the operational performance of Shandong Oriental Ocean Sci-Tech Co., Ltd. Furthermore, a system dynamic model is built to simulate the impact of temperature on the profits in aquatic products cold-chain sales section. Findings: We find out within a reasonable temperature range, lower temperature brings higher profit level. Also, performance improvement methods are proposed and the simulation of performance evaluation system is developed. Practical implications: Our findings can help to improve the level of aquatic product cold-chain logistics in China. Originality/value: The paper proposes the SISP (Subjects, Indexes, Standards, and Phases of performance evaluation) model and ACSSN model (Aquatic product, Customer, Supply Chain, Society, and Node enterprises of supply chain) for aquatic products cold-chain logistics performance evaluation.

Effectiveness analysis of WHEAT growth using elements of Mathematical Modelling in Economics

Selective breeding results, quality of seeds and other factors have a significant impact on the efficiency of crops. Mathematical Modelling in Economics is being used to determine the impact of factors on the value of performance indicators, The aim of the article is to research factors that influence the effective growth of wheat in Kyiv region. Approach and methodology of a research. A parameterization technique of regression equations was used in order to study the influence of factors on performance indicators of wheat growth. Parameters of linear regression were found by using of least square method. Results. Recommended quality coefficient of wheat seeds in Kyiv region was measured. There are three groups of regions created according to the quality coefficient value of wheat seeds. As the value of mentioned coefficient increases, the growth of wheat yields takes place. During the last three years, the regions of the groups with the highest coefficient have the highest level of profitability and incomes per a single group enterprise. The impact of factors on the level of profitability of wheat, the linear regression analysis (that is based on least square method) was used for more detailed analysis. A check of regression models conformity and authenticity criteria showed that the most credible is the model of 2013. In such a model the substantial impact on the level of profitability of wheat growth have production expenditures for 1 seeding hectare and the share of seed cost in the structure of production expenditures. Results application area. The results can be used by regional and district authorities of agricultural administration for planning and business decision making, connected to cultivation and realization of crop production. The results can be used by enterprises for the evaluation of economic results and identifying opportunities to increase production.

Perbedaan Pembiayaan Model Bagi Hasil dan Non Bagi Hasil Terhadap Profitabilitas dan Resiko (Studi Kasus BMT Amanah Ummah)

This research is conducted to identify the relationship between profit sharing financing, non-profit-sharing, risk, and profitability of the BaitulMaalwatanwil. While the purpose of this study was conducted to determine the difference between the two financing available in BMT Amanah Ummah Karah Surabaya branch (profit sharing and non-sharing).The method used in this study is qualitative approach, using the case study method. The collection of the data done by linking the questions asked, the data collected with the conclusions drawn from interviews with secretaries and marketing lending at headquarter of BMT Amanah Ummah Karah Surabaya branch.The results showed that non-profit-sharing financing have a higher level of profitability than the profit sharing financing. Meanwhile, from the level of risk, profit sharing financing have a higher degree of risk compare to non-profit sharing financing.

Strategic Trading and Delayed Disclosure by Informed Traders

The current SEC regulation section 13(f) allows financial institutions to delay the disclosure of their quarter-end stock holdings up to 45 days. Motivated by a recent regulatory debate about the appropriate length of delay for disclosures, I develop a model to examine a financial institution’s optimal response in different regulatory environments in terms of permitted delay. I show that an institution with access to better information about stocks optimally chooses to delay filing its disclosure for as long as permitted by the regulations. I demonstrate that this forbearance results in higher levels of profits for the financial institution relative to the case with immediate disclosure. Furthermore, delayed disclosure has nuanced implications on market quality: while longer delays by financial institutions with access to private information render the markets less liquid, they result in prices that are more reflective of the fundamentals.

THE INTERACTION OF WORKING CAPITAL MANAGEMENT AND PROFITABILITY MEASURES

Abstract In this article, the interaction between working capital management success and different measures of profitability was examined. When components of net working capital are kept at optimal levels, this situation benefits company to use resources more efficiently and helps profitability. Similarly, high levels of profitability helps avoiding idle working capital practices. By using a sample consisting of 172 non-financial companies traded Borsa Istanbul (BIST) in Turkey, and 5-year data covering 2009-2013, regressions were run to analyze how profitability affects working capital management which is measured in terms of Cash Conversion Cycle (CCC) and also how CCC affects profitability measures. Most of the alternative cases tested have given significant results. Decreasing CCC affect positively profitability measures. Similarly, improved level of profitability helps a better working capital management and affects inventory turnover, receivables collection and payable deferral. Although long-term financial decisions and policies have an important role in the sustainability and profitability of the companies, short-term financial management and working capital management which is the most important policy in this sense can also have a profound effect on the company success. Keywords: Working capital, profitability, liquidity Jel Codes: G30, L25, C23

Enterprise Combination in Livestock Sector in Southwestern, Nigeria

This study examined the optimal combination of enterprises in livestock industry in South-West Nigeria. Stratified random sampling technique was employed in collecting data from 360 livestock farmers. Descriptive statistics, budgetary technique and linear programming model were employed for data analysis. Six livestock enterprises, non-integrated poultry, piggery and fishery and horizontally integrated poultry/fishery, poultry/piggery and poultry/piggery/fishery were identified. Livestock farmers in the area are aged with low level of education and large household size do not operate at optimal level based on the available resources. The budgetary analysis shows that the most profitable enterprise combination is integrated poultry and piggery while the enterprise that yielded the least net farm income is non-integrated poultry enterprise. The profitability of integrated and non-integrated livestock enterprises is limited by high cost of production in which the feed cost constitutes the lion’s share. The optimal enterprise combinations are the integrated poultry and fishery and integrated poultry/piggery enterprise with poultry/piggery combination being the most efficient. The policy implication from this study requires that both farmers and government must team up to find a means of reducing feed cost by financing livestock research centers and state agricultural development programmes to develop genetically improved breeds of livestock which efficiently converts feed. Labour as a resource was the most limited in the area, there is therefore the need for research to focus critically on indigenously automated livestock equipment that can perform tasks like feeding, vaccination, etc. Farmers in South-West Nigeria and by extension, Nigeria as a whole should concentrate and intensify their livestock combination practices especially that of poultry/piggery, which is the optimal combination enterprise and that of poultry/fishery enterprise combination because of their high profitability levels.

Value Chain Agribisnis Mangga Gedong Gincu (Mangifera Indica l) di Kabupaten Majalengka

The objective of this research was to analyze the value chain and efficiency of gedong gincu mango agribusiness in Majalengka Regency. The data collection was conducted by interview techniques, using questionnaire. The samples of this study were: 88 farmers gedong gincu mango taken by using proportional random sampling, 28 sellers taken by snowball sampling, consisted of 15 local collectors, 3 big traders and 10 retailers. Value chain was analyzed using R/C ratio. Marketing efficiency was analyzed by calculating the marketing margin, profit margin, farmer's share and marketing efficiency. The results showed that R/C ratio of farmers, small collectors, big collectors and retailers were >1. Highest profit level was achieved by farmers. Based on marketing margins, farmer's share and marketing efficiency, all marketing channels were categorized as efficient.

Расчетные дозы удобрений и формирование запланированного урожая картофеля в условиях лесостепи Среднего Поволжья

The studies revealed the role of fertilizers application method, under the influence of which there was a significant increase in the productivity of potato. Fertilizers, carried in local way, increased the photosynthetic activity of potato plants. The maximum leaf area at flowering stage, depending on the variety, increased to 1.4-2.5 thousands square metre per hectare. The highest leaf area of 50.1 and 47.7 thousands square metre per hectare for both methods of mineral fertilizers was on the plant of Nevskiy variety. Local application of fertilizers by two ribbons increased the productivity, depending on the variety to 2.19-3.10 tons per hectare. The most high-yielding variety was Nevskiy, which, depending on the fertilizers application method, carried 34.65 and 36.84 tons per hectare tuber yield. The Nevskiy variety tubers, depending on the mineral fertilizers application method, contained starch 13,85-14,64%, Adretta variety – 15.68-16.02 and Valiza variety contained 14.44-15.01% of starch. More protein was at tubers of varieties Valiza variety (3.34-3.71%), the lower (2.87-3.11%) at Nevskiy one. The largest shareware net income (127.8 thousands rubles per hectare) and high level of profitability (137%) was obtained at the cultivation of Nevskiy variety with locally application of mineral fertilizers.

The Impact of Credit Policy on the Performance of Nigerian Commercial Banks

The major financial intermediary in any economy is the bank. As financial intermediaries, banks provide means by which funds can be transferred from the surplus unit of the economy to the deficit unit. This role is performed primarily through the acceptance of deposits of different categories and characteristics for onward lending to the numerous customers by way of loans and credits. The study tries to access the impact of credit policy on the performance of Nigerian Commercial Banks using Zenith Bank Plc as case study. Primary data were collected through questionnaires served on sixty (60) respondents (staff: 32 and customer: 28) of the bank. The questionnaires were analysed with the use of chi-square (X2). The findings from the study show that having a good credit policy in place goes a long way in minimizing the incidence of bad debts. It was also discovered that prudent credit assessment and disbursement, dynamic credit monitoring and decisive actions when there are warning signals, have all helped the bank to maintain a high quality of assets and a high level of profitability.

The implication of banking competition: Evidence from African countries

This paper examines how bank efficiency and stability are affected by the market power in Africa. Our results show that the higher degree of market power is associated with high level of efficiency and profitability. The banks with more market power operating are able to be in command of the price and hence improve their profit. The market power has a benefit in both stability and risk. Hence, gain in market will increase the stability and reduce the risk for banking system. Our findings do not support the argument that competition should not be based on a “quiet life hypothesis”.

Emerging Web 2.0 applications in open access scholarly journals in the field of agriculture and food sciences

Purpose – The study aims to focus on the application of Web 2.0 tools in Agriculture and Food Sciences open access journals. The changing trends in scholarly publishing processes have revolutionised the academic world. The shifting of academic journals to open access mode has been on the rise because of the numerous benefits associated with it. The high level of profitability reaped from open access titles has forced them to experiment with new and innovative technologies, including Web 2.0. The new shift in the form of Web 2.0 has sifted in to the open access journal world. Open access journals in the field of Agriculture and Food Sciences are growing and so are the features and functionalities within them. Because of these new innovative tools there is an urgent need to focus on their adoption. Design/methodology/approach – Directory of Open Access Journals, being one of the growing open access journal directories, was selected for the purpose of data gathering. The journals selected for the study included those titles which were currently active. Findings – The open access journal landscape in the field of Agriculture and Food Sciences is influenced by the Web 2.0 revolution. The degree of experimenting with Web 2.0 in open access journals in Agriculture and Food Sciences is evident and can prove an excellent platform for the dissemination of agricultural information in a more advanced mode. Researchlimitations/implications – The study will be helpful for journal administrators who belong to the field of Agriculture and Food Sciences to know the actual status of Web 2.0 adoption by the journals in their field. The study can also be helpful for journal administrators for the adoption of Web 2.0 tools to achieve a better, more innovative and interactive scholarly platform. It will also enable us to know how the new pioneering technology – Web 2.0 – can help to explore new innovative ways of managing information in the scholarly world in general and the Agriculture and Food Sciences discipline in particular. Originality/value – The study can be extended to harness the effects of Web 2.0 on the research activities of the scholars associated with various disciplines of Agriculture and Food Sciences. How Agricultural scientists make use of Web 2.0 for sharing and exchange of information for their academic development can also be researched. The impact of Web 2.0 tools on the citation counts of open access journals can also be studied.

Fatores Determinantes para a Realização de Ofertas Iniciais de Ações (IPO) de Empresas Brasileiras

A literatura sobre ofertas iniciais de ações (IPOs) ainda é pouco explorada no Brasil haja vista que o crescimento do mercado de capitais ocorreu apenas recentemente. O objetivo deste artigo é identificar quais os fatores determinantes para as ofertas iniciais de ações das empresas brasileiras através do método de regressão logística utilizado em uma amostra com empresas listadas e não listadas. Os resultados indicam que as empresas fizeram seu IPO em períodos de altos investimentos, alto nível de rentabilidade e/ou quando estavam com alto nível de endividamento. A captação de recursos nos IPOs foi usada como alternativa para adequar a estrutura de capital e/ou captar recursos para continuar investindo em seu crescimento. As empresas que se tornaram públicas aproveitaram a janela de oportunidade oferecida no período e o tamanho não foi significante para determinar a listagem de ações.

Adaptive capacities and beef productivity of calves of different breeds depending on breeding technology

The expediency of raising of bull calves of Kazakh white-headed and Simmental breeds within the winter period in the feedlot, and black-and-white bull calves indoors is defined. During raising in the feedlot, the lysozyme and bactericidal activity of blood increases and the state of the animal hair improves. Furthermore, the intensity of growth of the Kazakh white-headed bull calves reduced to a smaller degree and the bull calves of the black-and white breed reduced to a greater degree. However, while growing indoors, the absolute and average daily gain in all animals was higher. The highest level of profitability of beef production was in the bull calves of the Kazakh white-headed and Simmental breeds while growing in the feedlot.

Management Practices in Russian Multinational Subsidiaries: The Case of Knauf CIS

This paper analyzes the growth and evolution of Knauf CIS Group from 1992 to 2012. The study defines the features and characteristics of the firm’s corporate policies including production and operations, marketing, HR management, and societal engagement. These policies have enabled Russian industrial enterprises, Knauf’s subsidiaries, to achieve global standards of efficiency and quality with a high level of profitability. This study focuses on the measures that can be employed to increase production efficiency and have the potential to be replicated by other Russian companies.

Factors associated with the publication of a CEO letter

Purpose– In most European code-law oriented Latin countries, the publication of a CEO's letter to shareholders in a company's annual report is a fairly recent phenomenon. In this paper, the authors seek to determine the characteristics that explain why companies in one such country, i.e. Portugal, published a CEO letter.Design/methodology/approach– The paper's holistic theoretical framework draws on elements of agency theory, institutional theory and signalling theory. To understand the characteristics of Portuguese holding companies that published CEO letters, the authors used a logistic regression model to explore 266 observations over the years 2006-2011.Findings– The publication of a CEO letter becomes more likely if a firm is audited by a Big 4 accounting firm; has a higher level of profitability; and has a high number of foreign subsidiaries. Other findings are that finance companies are slightly more likely to publish a CEO letter than non-finance companies. The number of CEO letters increased to a peak in 2008, and then declined.Practical implications– The increasing number of companies now publishing a CEO letter raises the concern for regulatory authorities of whether the content of the CEO letter should be audited, since any numbers presented in the management report have to be audited in Portugal.Originality/value– To the best of the authors' knowledge this is the first empirical exploration of the characteristics that explain why companies publish a CEO letter. Mimetic and normative isomorphism is revealed to be a potentially important influence, since there is a tendency of companies audited by Big 4 accounting companies, and with foreign subsidiaries, to publish a CEO letter.

Profitability of Firms in Copyright-Intensive Industries

Firms in the copyright-intensive industries frequently complain that copyright infringement causes significant lost sales, lost revenues, lost profits, and lost jobs. However, as has been noted in numerous impartial studies, the actual impact of infringement on individual firms, on industry sectors, and on the U.S. economy as a whole, is extremely difficult to quantify.In contrast, what can be quantified with relative ease is the performance of firms in the copyright-intensive industries in terms that matter to investors: revenue, profit, and most importantly, profit margin. Furthermore, the performance of firms in the copyright-intensive industries can readily be compared with the performance of firms in other industries. In this study, we have examined the performance over the past ten years of five leading firms in three copyright-intensive industries: motion pictures, publishing, and software. We then examined the performance of five leading firms in three other industries: construction, transportation, and mining. Finally, we compared the profitability of the firms in these six industries.We found that the firms in the copyright-intensive industries were significantly more profitable than the firms in the other industries in every period examined. Moreover, in this ten-year period, the copyright-intensive industries’ profit margins on average grew by 3.98%, while the other industries’ profit margins on average decreased by 0.75%.The high level of profitability of the copyright-intensive industries suggests that the copyright system serves these industries effectively, and that they are not in need of special government assistance in the form of new legislation or law enforcement resources.

A Note on the Benefits of Aggregate Evaluation of Budget Proposals

ABSTRACT Budgeting admits significant management control problems due to information asymmetries within organizations. We extend the Antle, Bogetoft and Stark (1999) principal agent analysis of budgeting, performing comparative statics on the potential benefit of bundling projects. Bundling projects confers a type of diversification benefit similar to portfolio diversification. We find this benefit is maximized at intermediate levels of profitability. The rationale for this finding is that at high levels of profitability the control problem is trivial and at low levels of profitability individual evaluation is necessary to screen for only the most profitable projects. For similar reasons bundling is most beneficial at intermediate levels of slack potential. We further find that when bundling is strictly beneficial to the principal its benefit is decreasing in the correlation between the projects' profitability. The intuition for this finding is (positive) correlation diminishes the diversification benefit found with aggregation. Finally, we sketch a setting with heterogeneous projects that differ with respect to ex ante profitability. We demonstrate that the benefit of aggregation is decreasing in project heterogeneity. The intuition is that when projects are sufficiently heterogeneous the ability to tailor the contracts to the individual projects dominates the diversification benefits.

Exploring the performance effect of HPWS on professional service supply chain management

PurposeThe aim of this study is to better understand service supply chain management by analysing the professional service supply chain in professional service firms (PSFs) and exploring how the high performance work systems (HPWS) influence professional service supply chain performance. In addition, this study seeks to examine the relationship between professional service supply chain performance and the overall organizational performance.Design/methodology/approachAnalysis of PSF suggests a three‐step of professional service supply chain as the clients' requests, partners forming working teams or so‐called team formation and utilization, and delivering of solutions or services to clients. Based on extensive literature review, the authors hypothesize that HPWS have a positive impact on the professional service supply chain performance and the team formation and utilization mediates the link. They also hypothesize the positive link between the professional service supply chain performance and the overall organisational firm performance. Employing survey method, data was collected from 93 accounting firms at two time points. In May 2010 (Time 1), a survey including questions on HPWS, team formation and utilization and professional service supply chain performance were sent out to the managing partners and HR directors in accounting firms based in Ireland. Around one year later (Time 2), another survey measuring firm performance was sent out. This data allowed the authors to establish causal pattern in their results. Hierarchical regression analysis was used to analyse data to test hypotheses.FindingsThe results indicate the positive link between HPWS and the professional service supply chain performance. The team formation and utilization mediates the above relationship. In addition, professional service supply chain performance was found to be positively linked to the firm performance.Research limitations/implicationsThe present study is limited in terms of sample size, single industry and self‐report data. Future research also needs to examine more mediators or moderators – the mechanisms through which HPWS work on the professional service supply chain.Practical implicationsFirms using higher level of HPWS experience better professional service supply chain performance. Human resource management practices that promote employees' ability, motivation and opportunities which allow teams to be formed more effectively to work with clients enhance organizational performance and higher profit levels. Managers able to effectively adopt and implement these teamwork‐based HR practices and encourage and support employees' collaboration through such practices enhance the firm's professional service supply chain effectiveness and its organisational performance.Social implicationsThe authors' study focuses on the service supply chain management operations within the professional service firms. In doing so, their research answers the call by Ellramet al.for more supply chain management research with respect to the service sector. It addresses a significant research gap identified by Rahman and Wu, namely, “relatively little attention has been given to the service suppliers' perspective”. By linking service supply chain management and human resource management, this study also answers a few calls for more research on the interaction of human resource management and supply chain management, service supply chain and human resource management in professional service firms.Originality/valueThis is one of the few studies to analyse the professional service supply chain management and assess the human resource management and supply chain management link. Moreover, it is the first study which empirically establishes the link between human resource management and professional service supply chain performance in PSFs.

Application of fuzzy logic for determining of coal mine mechanization

The fundamental task of mining engineers is to produce more coal at a given level of labour input and material costs, for optimum quality and maximum efficiency. To achieve these goals, it is necessary to automate and mechanize mining operations. Mechanization is an objective that can result in significant cost reduction and higher levels of profitability for underground mines. To analyze the potential of mechanization, some important factors such as seam inclination and thickness, geological disturbances, seam floor conditions and roof conditions should be considered. In this study we have used fuzzy logic, membership functions and created fuzzy rule-based methods and considered the ultimate objective: mechanization of mining. As a case study, the mechanization of the Tazare coal seams in Shahroud area of Iran was investigated. The results show a low potential for mechanization in most of the Tazare coal seams.