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Article
Publication date: 8 February 2016

Emmanuel K. Bunei, Gerard McElwee and Robert Smith

The purpose of this paper is to provide an analysis of the changing practices of cattle rustling in Kenya from a relatively small isolated and opportunistic activity to a…

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1231

Abstract

Purpose

The purpose of this paper is to provide an analysis of the changing practices of cattle rustling in Kenya from a relatively small isolated and opportunistic activity to a much more planned and systematic entrepreneurial business involving collusion and corruption.

Design/methodology/approach

This paper provides a conceptual approach using key literature and documentary evidence to show how, in the northern part of Kenya, cattle rustling is common occurrence with criminals taking advantage of remote rural environments with minimal surveillance and consequently less opportunity of being stopped and searched by police.

Findings

Results evidence significant differences in how rustling is perceived and valorized. Rustling in Kenya is now an entrepreneurial crime with the involvement of rural organized criminal gangs (ROCGs), who are operating in food supply chains throughout Kenya and the African continent.

Practical/implications

This paper suggests that a more nuanced understanding of the entrepreneurial nature of some illegal practices in a rural Kenya is necessary and how it requires multi-agency investigation.

Originality/value

The paper is unique in that it considers how cattle rustling is becoming a more entrepreneurial crime than previously. Little prior work on this subject exists in Kenya. The paper utilizes the framework of Smith and McElwee (2013) on illegal enterprise to frame cattle rustling as an entrepreneurial crime.

Details

Society and Business Review, vol. 11 no. 1
Type: Research Article
ISSN: 1746-5680

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Article
Publication date: 16 August 2019

Fehintola Oyebola, Evans S. Osabuohien and Barnabas Olusegun Obasaju

The purpose of this paper is to investigate how the development of cattle value chain can influence employment creation and income of both cattle farmers and merchants…

Abstract

Purpose

The purpose of this paper is to investigate how the development of cattle value chain can influence employment creation and income of both cattle farmers and merchants. The study focusses on cattle farmers in Lagos, Ogun and Oyo States where there are the largest cattle farms and live cattle merchants in Southern Nigeria.

Design/methodology/approach

It employs a research approach that uses key informant interviews and structured questionnaire in garnering needed information from cattle farms, abattoirs and merchant.

Findings

The results suggest that with some minimal supports, employment creation and income generation can be improved.

Originality/value

None of the reviewed empirical studies is specific to the cattle value chain in South Western Nigeria. Among other values, the study identifies employment and income opportunities in corporate and non-corporate farms in the cattle value chain in South Western Nigeria.

Details

African Journal of Economic and Management Studies, vol. 11 no. 2
Type: Research Article
ISSN: 2040-0705

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Article
Publication date: 4 July 2016

Edgar Edwin Twine, James Unterschultz and James Rude

The purpose of this paper is to evaluate Alberta’s cattle loan guarantee program. It measures the risk premiums on lending that would accrue to banks participating in the…

Abstract

Purpose

The purpose of this paper is to evaluate Alberta’s cattle loan guarantee program. It measures the risk premiums on lending that would accrue to banks participating in the program, estimates the value (price) of the loan guarantee, and estimates the interest subsidy provided by the program.

Design/methodology/approach

A cash flow model of cattle feeding is used. The model estimates a measure of risk that is applied to option pricing models to estimate the value of the guarantee.

Findings

Insurance premiums for the credit risk to lenders are 0.20 percent of the value of the loan for the entire feeding period, and 0.41 percent for backgrounding but negligible for finishing. The price of the loan guarantee estimated by the Black-Scholes model is 4.43 percent of the value of the loan and is comparable to prices estimated by the binomial model. The program provides a subsidy rate of 4.58 percent.

Research limitations/implications

Charging a guarantee fee can potentially eliminate the interest subsidy inherent in the program. But this would necessitate determining the impact of the guarantee fee on the additional access to credit that has been achieved through the program.

Practical implications

Different levels of risk for backgrounding and finishing imply different risk premiums on cattle loans. Therefore interest on cattle loans should reflect not only the individual farmer’s risk profile but also the nature of the feeding operation.

Originality/value

This is the first paper to simultaneously estimate risk premiums on cattle feeding loans, the value of the loan guarantee provided by the Alberta Feeder Association Loan Guarantee Program, and the inherent interest subsidy.

Details

Agricultural Finance Review, vol. 76 no. 2
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 1 July 2014

Hernan Tejeda and Dillon Feuz

The purpose of this paper is to determine and contrast the risk mitigating effectiveness from optimal multiproduct time-varying hedge ratios, applied to the margin of a…

Abstract

Purpose

The purpose of this paper is to determine and contrast the risk mitigating effectiveness from optimal multiproduct time-varying hedge ratios, applied to the margin of a cattle feedlot operation, over single commodity time-varying and naive hedge ratios.

Design/methodology/approach

A parsimonious regime-switching dynamic correlations (RSDC) model is estimated in two-stages, where the dynamic correlations among prices of numerous commodities vary proportionally between two different regimes/levels. This property simplifies estimation methods for a large number of parameters involved.

Findings

There is significant evidence that resulting simultaneous correlations among the prices (spot and futures) for each commodity attain different levels along the time-series. Second, for in and out-of-sample data there is a substantial reduction in the operation's margin variance provided from both multiproduct and single time-varying optimal hedge ratios over naive hedge ratios. Lastly, risk mitigation is attained at a lower cost given that average optimal multiproduct and single time-varying hedge ratios obtained for corn, feeder cattle and live cattle are significantly below the naive full hedge ratio.

Research limitations/implications

The application studied is limited in that once a hedge position has been set at a particular period, it is not possible to modify or update at a subsequent period.

Practical implications

Agricultural producers, specifically cattle feeders, may profit from a tool using improved techniques to determine hedge ratios by considering a larger amount of up-to-date information. Moreover, these agents may apply hedge ratios significantly lower than one and thus mitigate risk at lower costs.

Originality/value

Feedlot operators will benefit from the potential implementation of this parsimonious RSDC model for their hedging operations, as it provides average optimal hedge ratios significantly lower than one and sizeable advantages in margin risk mitigation.

Details

Agricultural Finance Review, vol. 74 no. 2
Type: Research Article
ISSN: 0002-1466

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Article
Publication date: 1 January 2005

Colin G. Brown, Scott A. Waldron and John W. Longworth

The Chinese government has increasingly turned to industry policy as a means of promoting rural development. These industry policies have not necessarily led to an…

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2236

Abstract

Purpose

The Chinese government has increasingly turned to industry policy as a means of promoting rural development. These industry policies have not necessarily led to an improvement in rural incomes nor to the achievement of other social and environmental goals. This paper examines ways of designing these policies to achieve better rural development outcomes.

Design/methodology/approach

The approach adopts a detailed micro‐level analysis of industry policy through the window of the cattle and beef industries. Intensive fieldwork and interviews are conducted with all segments of and participants in the industry in all major beef production and consumption regions. A series of normative analyses examines issues of integration, scale of development, regionalism and specialisation.

Findings

Industry policy is a powerful mechanism by which to influence regional and rural development. Improving development outcomes requires that central and local government goals converge and that regions in inland China are well integrated with other regions and sectors of the economy. Large‐scale development projects must be carefully designed to avoid displacing individual households from industry development.

Originality/value

By crossing institutional, geographic and industry segment lines in a comprehensive manner, the research will aid Chinese decision makers concerned with rural development in the design of their industry development policies.

Details

International Journal of Social Economics, vol. 32 no. 1/2
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 17 June 2019

Gustavo Magalhães de Oliveira, Christiano França da Cunha, Silvia Morales De Queiroz Caleman and Roberta Luiza Gomes Maia

The purpose of this paper is to investigate information asymmetry in cattle supply transaction in Brazil. While the literature traditionally explores the seller’s…

Abstract

Purpose

The purpose of this paper is to investigate information asymmetry in cattle supply transaction in Brazil. While the literature traditionally explores the seller’s information asymmetry advantages, the authors, in turn, draw attention to buyer’s role. This paper aims to show what farmer characteristics present negative correlation with slaughterhouses’ information asymmetry advantages. By slaughterhouses’ advantages, the authors refer to slaughterhouses’ opportunistic appropriation of value due to hidden information, such as quality measurement and remuneration of difficult-to-measure attributes. In doing so, this paper addresses the following research question: what are the farmer’s characteristics with negative correlation with slaughterhouses’ information asymmetry advantages?

Design/methodology/approach

This paper employs a logit model regression on a survey of 89 Brazilian cattle breeders. Drawing on transaction cost economics, this study empirically evaluates farmers’ technology level, level of education, family tradition, farm size and efforts to collect price information, to test which of these characteristics present negative correlation with slaughterhouses’ information asymmetry advantages.

Findings

The results illustrate that the cattle breeders’ level of education is negatively correlated with buyers’ information asymmetry advantages. Additionally, the authors find a controversial result presenting efforts to collect price information as positively correlated with this kind of information asymmetry advantages. Farmer’s farm size, family tradition and the level of technology were not influential. These findings suggest that a possible value appropriation from buyers’ information asymmetry is a problem for several types of producers, even varying size, family tradition in the activity or transaction costs to collect price information (e.g. lack of transparency). Initiatives should try to reduce this problem to these farmers to avoid value appropriation resulting from information asymmetry problems, especially in the lack of transparency.

Originality/value

This paper adopts a survey about information asymmetry in cattle supply transactions in Brazil, which is well known as one of the most relevant producer and consumer of meat. The main contribution is to shed light on the understanding of buyers’ information asymmetry advantages in farmer-slaughterhouse transactions to avoid potential conflicts. Given some singularities of the Brazilian cattle industry, the authors can empirically test buyers’, not sellers’, information asymmetry advantages.

Details

British Food Journal, vol. 121 no. 8
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 January 2007

Wen Gong, Kevin Parton, Rodney J. Cox and Zhangyue Zhou

The purpose of this study is to examine key factors that affect cattle farmers’ selection of marketing channels and draw implications for China's beef supply chain…

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2479

Abstract

Purpose

The purpose of this study is to examine key factors that affect cattle farmers’ selection of marketing channels and draw implications for China's beef supply chain development.Design/methodology/approach – A questionnaire was designed and face‐to‐face interviews were conducted with a random sample of 153 farmers located in three major cattle producing regions across China.Findings – Several variables related to transaction costs (chiefly, in the form of negotiation costs and monitoring costs), as well as socio‐economic factors, were identified as of significant influence on farmers’ choices of cattle marketing channels.Research limitations/implications – Further research should be conducted to measure the effects of risk preference in marketing decisions. Caution needs to be exercised when generalising the findings of this study to cattle farmers in other regions that are significantly different from the surveyed ones.Practical implications – This study will contribute to a better understanding of cattle producers’ marketing channel selection. Further, it will contribute to identifying which factors encourage or discourage farmers from using forward contracts; information needed urgently by private and public policy makers.Originality/value – This paper presents a model and case study that show how transaction cost minimisation affects the adoption of vertical coordination. Studies examining this area for China are scarce and this paper makes an important contribution to the literature.

Details

Management Research News, vol. 30 no. 1
Type: Research Article
ISSN: 0140-9174

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Article
Publication date: 21 August 2007

Sylvain Charlebois and Ronald D. Camp

The paper intends to identify and explain key managerial principles for vertical integration in the cattle industry during a key period of environment uncertainty.

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1137

Abstract

Purpose

The paper intends to identify and explain key managerial principles for vertical integration in the cattle industry during a key period of environment uncertainty.

Design/methodology/approach

Following Yin's advice on using case studies for exploratory theory development, this study builds on existing theories of vertical integration through a case study that explores potential prospects for cattle producers in a uniquely uncertain environment and the execution of a higher degree of vertical integration in a mature market.

Findings

The creation of NVF is a result of a well‐groomed uncertainty management scheme designed to attain a higher degree of vertical integration within an enterprising community. Some key managerial principles have been identified that can be applied to a thriving vertical integration endeavour in the cattle industry. History has proven that such an undertaking is taxing. Nevertheless, by looking at NVF's business model, it can be seen that environmental uncertainty can facilitate vertical integration projects in the cattle industry, given the right community‐oriented doctrine.

Research limitations/implications

This case study does not include cases where cattle producers were not so successful.

Practical implications

It provides advice for managing vertical integration by networks of small business owners in the cattle industry. The BSE crisis seems to have triggered efforts to decrease dependency, especially by outside stakeholders. NVF focused its members on building a business model and long‐term objectives beyond the specific uncertainties created by bovine spongiform encephalopathy (BSE), such as whether the border reopened or stayed permanently closed to foreign markets. Domestic consumers were their core marketing priority at the outset. In addition, future plans were set in motion to create a strategy to seek other foreign markets, including the EU.

Originality/value

The case study presented in this paper provides an example of vertical integration as a strategic response to market uncertainty enhanced by a political and economic crisis in a rural community. This paper also outlines key events of the Canadian BSE crisis, the Canadian beef industry and surrounding communities, and the relevance of past research on environmental uncertainty and vertical integration in explaining why vertical integration has been strategically unnatural to cattle producers but occurred in this situation.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 1 no. 3
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 15 May 2019

Aleksan Shanoyan, Sandra Mara Schiavi Bankuti and Lechan Colares-Santos

With recent shifts in market forces driven by food safety and quality concerns, managers in the Brazilian beef processing industry are forced to reevaluate their…

Abstract

Purpose

With recent shifts in market forces driven by food safety and quality concerns, managers in the Brazilian beef processing industry are forced to reevaluate their procurement arrangements with cattle producers. The purpose of this paper is to provide insight on the effect of live-weight (LW) and dead-weight (DW) procurement arrangements on farmers’ incentives to invest in cattle quality.

Design/methodology/approach

The research methods involve a conceptual model based on principal-agent framework and data from targeted interviews of cattle farmers and slaughterhouse managers in the Western Region of São Paulo state of Brazil.

Findings

Findings highlight the potential for adverse selection of low-quality cattle producers under LW arrangement and misaligned incentives for quality improvement, they also illustrate incentive compatibility of DW arrangement when the carcass yield is verifiable by producers. The evidence from field data was largely consistent with the predictions of the model and highlighted the important role of trust for a lasting procurement relationship under DW arrangement.

Research limitations/implications

Due to the lack of publicly available data and the challenges associated with the collection of primary field data, the sample is limited to 30 cattle producers and 5 processing firms.

Originality/value

This paper provides a theoretical and empirical platform for developing further research on coordination at the producer–processor interface of beef supply chain in Brazil and other countries with similar transaction characteristics. The findings will assist in designing more incentive compatible and self-enforcing arrangements between cattle farmers and slaughterhouses to enhance the product quality and the overall efficiency of the supply chain.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 9 no. 2
Type: Research Article
ISSN: 2044-0839

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Article
Publication date: 20 November 2019

Salim Al Idrus, Ansari Saleh Ahmar and Abdussakir Abdussakir

This paper aims to reveal the effect of organizational learning on market orientation, job satisfaction on market orientation, organizational learning on business…

Abstract

Purpose

This paper aims to reveal the effect of organizational learning on market orientation, job satisfaction on market orientation, organizational learning on business innovation, job satisfaction on business innovation and market orientation on business innovation.

Design/methodology/approach

Research was designed to use quantitative approach to understand causal relationship of variables. partial least squares structural equation modeling (PLS-SEM) was used to facilitate this approach. Questionnaire was given to 46 dairy cattle milk cooperatives in East Java, Indonesia.

Findings

Research findings are explained as follows: both high organizational learning and high job satisfaction can produce high market orientation, organizational learning reduces business innovation, job satisfaction increases business innovation and market orientation reduces business innovation of dairy cattle milk cooperatives in East Java, but this reduction is not statistically significant.

Research limitations/implications

This research has identified that business innovation is affected by job satisfaction, while market orientation is affected by organizational learning and job satisfaction. Next research shall be conducted on another business type or business group but in greater population.

Practical implications

It is expected that the results of this research will provide guidance for dairy cattle milk cooperatives in East Java concerning with how to improve market orientation and business innovation based on organizational learning and job satisfaction.

Originality/value

This research has determined factors that affect market orientation and examined its impact on business innovation after observing the aspects of organizational learning and job satisfaction.

Details

Journal of Science and Technology Policy Management, vol. 10 no. 5
Type: Research Article
ISSN: 2053-4620

Keywords

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