Sales Income Research Articles

ACCOUNTING OF RESULTS OF RENT RELATIONS

In the conditions of the implementation of the concept of sustainable development, the study of accounting reflection of the results of rent relations becomes relevant in view of solving a number of strategic tasks that today face economic entities. The solution to this problem is proposed on the basis of the definition in the system of accounting concepts of economic nature of results of rent relations arising owing to the involvement of renting factors in the economic process. The purpose of the research is to determine the formulation of proposals for the accounting reflection of the results of rental relations. The methodological basis of the study is the historical and logical method used to study the evolution of rent and approaches to the disclosure of its economic meaning. The dialectical method and comparative analysis are used to identify significant differences in the definition of rent, formed at different stages and forms of economic relations. Methods of analysis, synthesis, induction, deduction, abstraction, idealization, and generalization are used to identify the results of rent relations in the system of accounting concepts and the formulation of proposals for accounting rent and rent payments. Scientific results. Based on the critical assessment of the plurality of researchers’ opinions regarding the disclosure of the economic content of the rent, it has been established that: the rent is an integral part of the value added, but the added value in the accounting system is not accounted; the rent is a component of the income from operating activities carried out with the use or exploitation of limited natural resources; the complication of the previous value appraisal of rent makes it impossible to reflect it as a part of income; the amount of rent depends on the demand for the goods. If the product is sold at cost or below the cost, there will be no rent. The higher the sales price, the greater the share of rent in sales income. Taking into account the above, the rent as an income from the extraction/use of natural resources, as well as the use of other renting factors, is proposed to be reflected on the off-balance sheet account “Rent” with the allocation of sub-accounts by type of economic rent received. Rent payments are proposed to be attributed to operating expenses since their inclusion in production costs contradicts the economic nature of such costs, unjustifiably increases the prime cost, and contradicts the principle of equitable distribution of rent. The practical importance of the study is to increase the level of disclosure of information for making managerial decisions, in particular: determining the maximum allowable reduction in the price of sales of finished products, while maintaining an acceptable level of profitability for increasing demand, expanding the market and, consequently, increasing profits; directing the entire amount of rent or its part to the implementation of environmental measures, modernization of the material and technical base, activation of innovation activities, etc. Value/originality. The main advantages of the research conducted are the determination of the subject and object composition of rental relations, justification of the expediency of identifying the economic rent as an additional income, presenting proposals for the accounting of rent and rent payments, which will help to solve problems of the organization and methodology of the results of rent relations, as well as improving the reporting of economic entities.

SOCIAL CAPITAL CLASSIFICATION OF SEAWEED CULTIVATORS (CASE STUDY IN LIYA MAWI VILLAGE, SOUTH WANGI-WANGI DISTRICT IN WAKATOBI REGENCY, INDONESIA)

Social capital plays a vital role in a business as so does in seaweed cultivation. The aims of this study are to know the social capital of cultivators and to analyze the relation of social capital toward business successfulness of seaweed cultivators in Liya Mawi village. The variable of the study is social capital, such as trust, network, and norm; and business achievement based on sales volume and income. This study used the descriptive analysis and correlation test with rank spearman correlation test. The result of this study showed that the social capital of seaweed cultivators in Liya Mawi village are in the medium category to high at around 44.68% have medium level of trust and 55.32% have a high trust level and there is no respondents who have a level of low trust category; Networking category is as high as 42.55% and 57.45%, and there are no farmers are included in the category of low network; and the level of compliance with the norm being as much as 23.40% and a high level of norms compliance as much as 76.60%, while for the low category does not exist. The results of data analysis showed that social capital has a relationship with the level of success of the venture, while the views of the elements of social capital, only the network level that has a relationship with the level of business successfulness.

Intertemporal optimal portfolio choice based on labor income within shadow costs of incomplete information and short sales

This paper examines the optimal portfolio choice in the presence of risky labor income, retirement horizon and shadow costs of incomplete information and short sales. The optimal allocation to stocks is larger for employed investors than for retired investors within idiosyncratic labor income risk, incomplete information and short sales. Investors’ willingness to save is increased when increasing idiosyncratic labor income risk in the presence of incomplete information and short sales, while it is decreased when retired investors still keep partial of their income flow. Hence, they reduce their stock portfolio allocation towards the level of retired investors. The presence of a positive correlation between labor income and stock returns reduces stockholdings below the level of retired investors within the assumptions of the existence of shadow costs of incomplete information. Our results generalize previous findings in the literature by accounting for the additional impact of information costs and short sales constraints.

Comparative study

PurposeThis paper aims to investigate the role of corporate social responsibility (CSR) funding through Partnership and Development Nurturing Program (PDNP) in the development of entrepreneurial attitude and the small and micro entrepreneurs’ (SMEs’) income in Pekanbaru.Design/methodology/approachPrimary data were obtained from the SMEs’ response to the development of entrepreneurial attitude, income of sales and expenses before and after getting PDNP fund. Secondary data were obtained from the publication of firms and relevant authorities. The sample used in this study comprised 95 respondents, including the SMEs in Pekanbaru who received PDNP fund in 2013 and who were selected by purposive sampling. Generalized structural component analysis (GSCA) was used to analyze the data for inner model (hypothesis testing for structural model) and outer model (measurement model for unobservable variables). Sobel test (under GSCA model) was used to test whether a variable is a mediating variable that assesses the relationship between endogenous variables and exogenous variables.FindingsCSR funding (by PNBP fund) is significantly effective for entrepreneurial attitude. The higher value of CSR funding (by PNBP fund), which is reflected in the high values of turnover (X1), marketing coverage (X2), partnership program (X3) and sales (X4), will lead to a higher value of entrepreneurial attitude, which is reflected in the high value of planning (M1), confidence (M2), orientation to task (M3), risk taking (M4), leadership (M5) and honesty (M6). Entrepreneurial attitude significantly affects the income of SMEs. The higher value of entrepreneurial attitude, which is reflected in the high value of planning (M1), confidence (M2), orientation to task (M3), risk taking (M4), leadership (M5) and honesty (M6), will lead to a higher value of income of SMEs, which is reflected in the high value of effectivity (Y1), efficiency (Y2) and economist (Y3). CSR funding (by PNBP Fund) has a significant effect on the SMEs’ income with a mediation effect of entrepreneurial attitude. A high value of CSR funding (by PNBP Fund), which is reflected in the high values of turnover (X1), marketing coverage (X2), partnership program (X3) and sales (X4), will lead to a higher value of income of SMEs, which is reflected in the high value of effectivity (Y1), efficiency (Y2) and economist (Y3), if the value of entrepreneurial attitude is higher, which is reflected in the high values of planning (M1), confidence (M2), orientation to task (M3), risk taking (M4), leadership (M5) and honesty (M6).Originality/valueA gap exists between the expected goals of SMEs, which is to increase people’s income through the development of their entrepreneurship, and the realization of the program. Hence, it is necessary to improve the implementation of the partnership program, which needs improvement in planning, process and the evaluation of the program. This phenomenon motivated the researcher to conduct this study so that the partnership and the community development program, as a form of CSR, benefit SMEs to increase their income.

TREVPAR’s Rates Development, Average Income and OCC of Brazilian’s Resorts During 2014/2015 Two-Year-Time

This article talks about the sales performance and income generation of Brazilian resorts based in enterprises associated with the Associação Brasileira de Resorts-ABR (Brazilian Association of Resorts -BAR) during 2014-2015. The article purpose understands how much the circumstantial factors interfere in rates generation in the hotel industry. The sales performance was measured by the occupancy rates related to the income through the TREVPAR’s average income meters. These resorts were analyzed, first, in a general group of performance and, later, were segmented and analyzed into subgroups according to their geographical location – country side or the beach - and the daily rate - all-inclusive or other kind of rates (half board, etc). After rates obtained, it was concluded that the circumstantial and sector factors has strong influence in the resorts income. In addition to the overall performance of sales indices, could be noted that when put into subgroups, the resorts had different performances along the tow-year-period.

On Parr: The Use and Propriety of Appraisal Methods in Computing Fracking Awards

Parr v. Aruba Petroleum, Inc. made headlines in 2014 for being the first hydraulic fracturing (“fracking”) case to result in a jury verdict. In Parr, a Texas jury awarded $2.925 million to compensate the Parr family for injuries sustained as a result of Aruba Petroleum’s nearby fracking activities. Of the nearly $3 million verdict, the jury awarded $275,000 for diminution in property value. Thanks to the fiercely litigated and highly publicized trial and appeal, scholars, practitioners and academics received a rare glimpse into an area of litigation otherwise insulated from public view by out of court resolutions and confidential settlement agreements.In this interdisciplinary paper we will provide an overview of the valuation process, addressing issues specific to diminution in value in the context of fracking and similar incidences of environmental contamination. We will then explain the various appraisal methods within the context of real estate litigation, including the Sales Comparison Approach, Income Approach and Cost Approach. Using Parr as a test case, we will then analyze the unique appraisal challenges presented by the hydraulic fracturing and analogous toxic torts fact patterns, evaluating the probative value and persuasive necessity of each approach. Finally, we will make predictions about the rapidly evolving fracking litigation sphere, analyzing new challenges presented to homeowners, energy companies and the judiciary when faced with allegations of diminished property values.

The sales income analysis of agricultural cooperatives

This paper aim is to define impact factor of cooperative sales income and recommend ways to increase cooperative income. The hypotheses were: the Government subsidy on raw material is key income factor of cooperative total income and cooperative characteristic influence to the their income. The economic survey conducted to 176 rural cooperatives and research methods are by inductive, deductive, comparative analysis and regression analysis. The 40% of Mongolian cooperatives are agricultural cooperatives and half of them cooperatives with members 201-300. The Government subsidy on raw material procurement is main advantage of agricultural cooperatives and lack of financial source and climate and nature condition are main disadvantage of cooperatives. In the research result, cooperative activities are unsustain, however Mongolian Government approved and implemented programs and projects for cooperative development. The sales income of cooperatives depends on income from animal raw materials, mainly Government subsidy on wool and cashmere procurement by econometric analyses of using Stata program. The cooperative working age (experience) significant to the sales income, also. With diversification cooperative activities in the future and Government support on multi-income generation for cooperatives for cooperative development.

An Assessment of the Market Structure of Sesame among Farmers, Wholesalers and Retailers in Nasarawa State, Nigeria

The study assessed principally the level of equality/inequality in the sales distribution of sesame among farmers, wholesalers and retailers. The sampling procedure used involved a random selection of 120 sesame farmers, 40 wholesalers, and 60 retailers proportionately drawn from the three agricultural zones of Nasarawa State. The instrument for data collection was a structured questionnaire. Tools of data analysis were descriptive statistics, regression technique and measures of market concentration such as Lorenz curve, Gini coefficient and Herfindahl index. The results which showed Gini coefficient index values of 0.686, 0.331 and 0.589 and Herfindahl index values of 0.115, 0.442 and 0.118 for farmers, wholesalers, and retailers, respectively, were indications of varying levels of inequality in the distribution of sesame sales income and the existence of some monopolistic forces in sesame market. Socio-economic variables which affected sales income (the main determinant of market concentration) positively and significantly (p≤0.01) were education, total value of investment and non-farm sources of income. As farmers and middlemen are indispensably interdependent, deliberate policy intervention is required in areas such as adequate formal credit, diversification of enterprises and human capital development to make them (farmers and middlemen) more competitive in the rapidly evolving global economy.

Empirical Econometric Model of an Enterprise

Abstract This work will present an empirical econometric model describing an enterprise within the category of medium-sized companies (according to European Union classification). The company, code-named ENERGY, carries out a manufacturing, commercial, and service business activity. The statistical data used was in the form of quarterly time series, containing 24 statistical observations from the years 2008–2013. A hypothetical model of the enterprise is a system of interdependent equations. The econometric model is composed of seven stochastic equations. The empirical model is missing the equation describing investments in the enterprise. It results from the fact, that during the years 2008–2013 the company suffered meagre investments. Investment output equation, therefore, does not provide any relevant systemic information for the management, since most statistical information in the time series assumes zero values. An empirical model of the company ENERGY is a system of interdependent equations, with statistically significant feedback between labour efficiency (EFEMP) and the average pay per 1 employee (APAY). Additionally, there is recurrence of the relationships between the fixed assets (FIXAS), employment volume (EMP), and the size of the net sales income (SNET). The empirical equations of the model are characterized by a description accuracy of individual endogenous variables. The model also has good decision-making and forecasting qualities.

Commercial or non-commercial? Trends in funding and distributing Finnish academic journals

Watch the VIDEO of the presentation.This paper examines trends in funding and distributing academic journals in Finland. Scholarly societies have been major actors in the field of academic publishing since the nineteenth century. First, they funded their own journals but the system of government subsidies was created already in the middle of the nineteenth century. Hence, the societies were freed of the necessity of selling publications. Instead, publications were distributed by exchanging them with other societies and institutions. At the time, the scholarly community was often called “Republic of Letters” – the concept mirrored an ideal of free, egalitarian and collaborative world of researchers. Exchange of publications was a part of this ideal. Commercial scientific publishing began to prosper in Germany at the end of the nineteenth century. Only in the 1980s, did the trend towards commercial distribution strengthen in Finland. Bookstore Tiedekirja was founded to promote selling and marketing society publications. Societies were advised to restrict the number of exchanges and promote selling instead. The government subsidy was restricted to cover only a minor share of costs of publishing. The national service for electronic distribution of journals “Elektra” was based on the license fees paid by the research libraries. Yet, the income of sales and licenses remained modest. The subscription fees were very low. Income from Elektra was far from sufficient so that the journals had to maintain their printed versions. The international Open Access movement, which actually is not so far from the old ideal of the “Republic of Letters”, was introduced in Finland, in 2004. Its first agents were libraries and some universities. In the 2010s, it became the policy of the ministry of education and major research funders. Yet, the structures of commercial distribution created in the 1980s and 1990s proved to be an obstacle in making the scholarly journals open. Even though the money involved in publishing was insignificant in comparison with major international publishers, the societies were cautious in abandoning the sources of income they had managed to establish. Therefore, to promote Open Access publishing, a new funding model is needed. The history of academic publishing can be understood as a closing circle – from the non-commercial system of exchanges via period of commercializing to the non-commercial open world. This vision supports the funding system where journals or articles are funded collectively, e.g. via a consortium of institutions which need the domestic journals as a publication forum. Another way to look at history is to see varying trends, which leads one to predict an era of commercial interests. In the era of open publishing, the commercial vision probably manifests in funding by article processing charges.

Evaluation of the economic viability of forest management by the Forest Experimental Station in Krynica

Abstract The Forest Experimental Station (FES) in Krynica is a unit specialized in teaching activities. However, it also fulfils other educational, ecological and social functions. Additionally, as the FES in Krynica operates on the free market and needs to be competitive, primarily with respect to the raw timber prizes, it is also a forest management unit that can be subjected to economic evaluation. The aim of this study was to analyze the income, costs and overall financial outcome of the FES in Krynica for the years of 2008–2012. A financial analysis, using indicators of financial liquidity, profitability, economic activity and liabilities, was also carried out to evaluate the economic effectiveness and efficiency of the forest management unit’s operation. The data was obtained from financial documents, particularly balance sheets, as well as profit and loss accounts. In the years of 2008–2012, mean income and costs of the FES in Krynica amounted to 7 121.1 thous. PLN/year and 6 478.2 thous. PLN/year, respectively. The net financial outcome was positive and amounted to a mean of 628.8 thous. PLN/year. The proportion of the sale income compared to the total income from all activities carried out by the unit increased from 93% to 96%. This included income from the sale of products, goods and materials, which increased by 57% mainly due to an increase in the income from timber sales (ca. 83%). Costs incurred by the unit increased as well, being 40% higher in 2012 than in 2008, while the cost level indicator decreased by ca. 8%. In the examined time period, the economic effectiveness and efficiency of the unit’s operation improved, as evidenced by the increasing profits and the values of the profitability indicators. Results obtained in the comprehensive analysis of the financial situation in the FES in Krynica provide a basis for the evaluation of economic processes and for appropriate decision making concerning wealth management and the direction of future development. In the evaluation of the economic and financial activity of the FES in Krynica, the increase inprofitability in the analysed time period, as concluded from the indicator of turnover profitability, was particularly noteworthy. The financial indicator values greatly exceed reference values only on the level of financial liquidity. The liability indicators served as evidence of obvious financial independence of the FES in Krynica.

Searching for a Tolerable Tax

A growing number of states are pursuing strategies to combat declining fuel tax revenue and fund road construction and maintenance, including the use of sales taxes, income taxes, and tolls; raising fuel tax rates; and adopting road mileage user fees. We use data from a nationally representative survey to compare public acceptability of a mileage user fee with each of these alternative revenue mechanisms. We find that support for the revenue options varies from 13.4 percent for income taxes to 33.8 percent for tolls, with higher gasoline tax rates, mileage user fees, and sales taxes in the middle. The evidence also points to stronger intensity of opposition than intensity of support across all alternatives. Finally, we find that, conditional on opposition to the mileage user fee, public acceptability is highest for tolls, followed by higher fuel taxes, sales taxes, and income taxes. Policy implications are discussed.

Kebijakan Harga dan Kebijakan Distribusi dalam Meningkatkan Daya Saing Industri Urea

Abstract: Urea is a chemical compound which is composed from the elements of carbon, hydrogen,oxygenand nitrogen. Approximately 90% of the urea used as chemical fertilizers in the form of prills as a supplier of nitrogen element (macro nutrient) needed by the plants. Fertilizer includes in the manufacturing industry that provides a major contribution to Gross Domestic Product (PDB) after the agriculture, Forestry, Fisheries, and mining sector (BPS, 2012). In the group of non oil and gas,fertilizer industry group is rank1 of 9 industry groups which have the opportunity to generate foreign exchange.The problems faced by the fertilizer industry in Indonesia are: (1) the availability of raw materials for producing urea namely natural gas, (2) the factory has been an old age and the old technology so that inefficient, (3) very low domestic sales policycauses the loss of opportunities for manufacturers to get the maximum margin. This study aims to analyze the factors influencing the income and profit in increasing the competitiveness of urea industry. The research to determine the relationship of competitiveness and the factors thataffectcompetitiveness is analyzed with multiple linear regression with the method of Ordinary Least Squared (OLS). As the independent variable it is the price policy (domestic price and export price) and the distribution policy (production volume and export volume) and the dependent variable are the competitiveness and the results of sales as the intervening variable. The data use in this research is secondary datacoming from the annual report of PT Pupuk Indonesia (Persero) and Urea Outlook from Fertecon Analysis. The results showed that the price policy (domestic price and export price) and the distribution policy (production volume and export volume) are significantly influences toward the income and the profit that will increase and stregthen the company’s competitiveness. For the domestic price variables did not significantly affect the results of sales(income) so that the policy of domestic price regulation is the same as the export price that will increase the income and the competitiveness of company. While the production volume and the export volume inflluence the results of sales so that it strengthens the competitiveness of company.

A OPERACIONALIZAÇÃO DO MERCADO INSTITUCIONAL DE ALIMENTOS NO CONTEXTO DO VALE DO RIO PARDO-RS

O presente estudo tem como objetivo analisar a construção do mercado institucional de alimentos no contexto do Vale do Rio Pardo, através de um estudo de caso da Cooperativa Leoboqueirense de Agricultores Familiares – COOPERLAF. O ponto de partida é a existência consolidada e predominante da cadeia produtiva do tabaco nesta região, o que implica avaliar o mercado institucional de alimentos (através do PAA e do PNAE) enquanto possibilidade concreta de diversificação da produção da agricultura familiar e de conquista de autonomia por parte dos agricultores. Constata-se que a inserção dos agricultores familiares no mercado institucional de alimentos através da COOPERLAF está possibilitando a abertura de novos canais de comercialização e geração de renda, diminuindo o seu nível de dependência em relação à produção de tabaco. Assim, sob a perspectiva conceitual da recampesinização, sugere-se que as políticas públicas de SAN representam a oportunidade de um desenvolvimento regional de caráter endógeno e, portanto, sustentável no Vale do Rio Pardo, a partir da valorização da agricultura familiar enquanto produtora de alimentos saudáveis.

Impact of Tax and Transfers on Income Inequality and Budget Deficit: A CGE Analysis for Pakistan

This paper analyzes the impact of tax and transfers on income distribution. We use a simple Computable General Equilibrium model for Pakistan (CGEP) adapted from Lofgren et al. (2001). Our CGE model takes into account the market interactions, that is, the effects of pricing outcomes of one market in other markets; which in turn create ripples throughout the whole economy, even to the extent of affecting the price-quantity equilibrium in the original market. We use Social Accounting Matrix (SAM) 2008 as developed by Debowicz et al (2012). To explore the impact of tax and transfers on income inequality, two sets of simulation exercises are performed. Further, we examine the inequality effects using Theil T, Theil L, Theil S and Hoover’s Indexes. Our results show that a policy mix of sales tax, income tax and government expenditures helps in reducing income inequality; while, at the same time it lessens the economy’s financial dependency.

Permanent sales increase and investment

Abstract When firms experience increases in sales that they consider to be permanent, the present value of expected profits also increases, leading to increases in the firms' investments. Our study investigates the permanent sales hypothesis (PSH) of firms' investment; it examines whether investment decisions are influenced by changes in the permanent, in contrast to transitory, component of sales income increases. Using the co-integration test and the structural vector auto-regression (SVAR) framework, our paper finds strong support for the hypothesis that investment behavior is primarily explained by permanent changes in sales income. Empirical multiple time series regression results also confirm that investments are a function of a number of past yearly sales changes. Our results show that larger, more liquid, and lower debt ratio firms follow PSH more closely than smaller, less liquid, higher debt ratio firms. Recent studies on corporate investment (i.e., Fazzari, Hubbard, and Petersen, 1988) have argued that the higher the dependence on the internal source of funding of the investment, the stronger the severity of financing constraints. Our study shows that the more dependent on the permanent cumulative increase of internal source of funding a firm's funding on investment, the less financially constrained firms.

지급보증이 존재하는 부동산 PF 사업에서 건설사 우발채무의 발생시기 추정

PF scheme has been widely used for its efficiency in dealing with risks and maximizing returns on investment in real estate development. However, since the weight of capital financed by Special Purpose Vehicle to buy land and support early stage of project is relatively low compared to total project cost and most of construction cost is financed from sales income in Korea, success rate of PF is radically low under high level of market uncertainty. For this reason, debt investors in real estate PF have tries to take loan guarantee agreement, which imposes contingent liability on construction firm under uncertain economy condition, from construction firm. In light of this, it seems important to take an effort to estimate occurring time of construction firm's contingent liability in that information taken from this trial can help joining entities in a project including construction firm prepare impending risks but reality is related research just has been focused in understanding and scrutinizing mechanism or quantitative amount of construction firm's contingent liability. Therefore, this paper is to suggest theoretical framework to evaluate occurring time of construction firm's contingent liability based on relevant financial and economic theories in real estate PF with loan guarantee.

Land‐use impacts on small‐scale Mpologoma wetland fishery, eastern Uganda: A socio‐economic perspective

AbstractSmall‐scale fisheries in developing countries are characterized by uncertain futures attributable to ever‐increasing pressures on wetland resources. Data on the interconnectivity between wetland fishery, land‐use changes and the socio‐economic situation in the Mpologoma wetland, Uganda, were obtained through interviews and structured questionnaire surveys at sampling sites exhibiting differing different levels of environmental disturbance (ranging from less disturbed to highly disturbed). Rice production was the major economic activity at the highly disturbed sites, while maize production was the major activity at the less‐disturbed sites. Of the secondary activities, the Clarias gariepinus (Burchell, 1815) and Protopterus aethiopicus (Heckel, 1851) fishery was more important at the less‐disturbed sites. The high daily fish sale income ranging from US$ 8 to 12 and the high‐percentage (52%) catch preference of all large wetland fish species were observed for the less‐disturbed sites. A high percentage of respondents from the area of the less‐disturbed sites had higher annual incomes, resulting in more accumulated wealth than for the highly disturbed Nsango site, whose fishery was affected by large‐scale rice schemes. The overall socio‐economic impact of the small‐scale fishery, based on the data regarding the number of fishermen and their dependents, and the income from fish sales and other wetland activities, was low, with differences between sites being attributed to the level of wetland disturbance. The Mpologoma wetland is threatened by overexploitation of its fisheries services, but also overlooked and undervalued by policymakers because of inadequate fisheries statistics. Thus, the information derived from this study will facilitate the formulation and design of riverine wetland‐specific and small‐scale fisheries management strategies.

Multiperiod planning tool for multisite pig production systems.

This paper presents a multiperiod planning tool for multisite pig production systems based on Linear Programming (LP). The aim of the model is to help pig managers of multisite systems in making short-term decisions (mainly related to pig transfers between farms and batch management in fattening units) and mid-term or long-term decisions (according to company targets and expansion strategy). The model skeleton follows the structure of a three-site system that can be adapted to any multisite system present in the modern pig industry. There are three basic phases, namely, piglet production, rearing pigs, and fattening. Each phase involves a different set of farms; therefore, transportation between farms and delivering of pigs to the abattoir are under consideration. The model maximizes the total gross margin calculated from the income of sales to the abattoir and the production costs over the time horizon considered. Production cost depends on each type of farm involved in the process. Parameters like number of farms per phase and distance, farm capacity, reproduction management policies, feeding and veterinary expenses, and transportation costs are taken into account. The model also provides a schedule of transfers between farms in terms of animals to be transported and number of trucks involved. The use of the model is illustrated with a case study based on a real instance of a company located in Catalonia (Spain).

A comparative analysis of funding schemes for public infrastructure spending in Quebec

The economic literature has been investigating the positive relation between public infrastructure spending and the productivity of the private sector since Munnell (1992). We have introduced this relationship into a recursive dynamic computable general equilibrium model of the Quebec economy to investigate various funding schemes to scale up infrastructure spending in the province. We draw our assumptions from Estache et al. (2010) combined with sectoral elasticity parameters. We conduct a comparative analysis where the funding comes from debt alone, and debt with sales tax, income tax and business tax. Our main finding is that the income tax seems to produce the most positive effects and the businesses tax the most negative effects, though differences are small.