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The United States (US) sugar program protects domestic sugar farmers from unrestricted imports of heavily-subsidized global sugar. Sugar-using firms (SUFs) criticize that program for causing US sugar prices to be higher than world sugar prices. This study examines the financial performance of publicly traded SUFs to determine if they are performing at an economic disadvantage in terms of accounting profitability, risk and economic profitability compared to other industries.

Firm-level financial accounting and market data from 2010 to 2019 were utilized to construct financial metrics for publicly traded SUFs, agribusinesses and general US firms. These financial metrics were analyzed to determine how SUFs compare to their agribusiness peer group and general US companies. The comprehensive financial analysis in this study covers: (1) accounting profit rates, (2) drivers of profitability, (3) economic profit rates, (4) trend analysis and (5) peer comparisons. Quantile regression analysis and Wilcoxon–Mann–Whitney statistics are employed for statistical comparisons.

Regarding various profitability and risk measures, SUFs outperform their agribusiness peers and the general benchmark of all US firms in terms of accounting profit rates, risk levels and economic profit rates. Furthermore, compared to other US industries using the 17 French and Fama classifications, SUFs have the highest return on investment and economic profit rate―measured by the Economic Value Added® margin―and the second-lowest opportunity cost of capital, measured by the weighted average cost of capital.

This study finds nothing to suggest that the US sugar program hinders the financial success of SUFs, contrary to recent claims by sugar-using firms. Notably in this analysis is the evaluation of economic profit rates and a series of robustness techniques.

Premium subsidy rates were increased in 2019 and 2020 for livestock risk protection (LRP) insurance, which is price insurance for cattle producers. The authors examined if the LRP subsidy rate changes affected the LRP coverage levels purchased by feeder and fed cattle producers.

The authors collected the United States Department of Agriculture Risk Management Agency summary of business sales data for daily LRP purchases from 2015 to 2023. The authors estimated a multinomial logit model to determine if subsidy rate changes were associated with the likelihood of LRP policies being purchased at different coverage levels.

After the 2019 and 2020 subsidy rate changes, the likelihood of producers buying LRP-feeder cattle policies with coverage over 95% increased relative to the policies with coverage less than 89.99% but did not influence the likelihood of producers buying LRP-feeder cattle policies with coverage between 90 and 94.99% relative to policies with coverage less than 89.99%. Marginal effects show these subsidy rate changes increased the likelihood of buyers purchasing LRP-feeder cattle policies with greater than 95% coverage. The subsidy change did not affect the purchase of LRP-fed cattle policies.

The results demonstrate the influence of the recent LRP policy adjustments on insurance purchases, which could be important for agency officials and policy makers. This is the first study to explore the LRP policy purchases which provides the United States cattle industry insight into the LRP price insurance take-up, which can guide producer extension education on managing price risk.

The objective of this research was to determine the optimal age and pregnancy status for buying and selling replacement of beef females for risk-neutral and risk-averse producers.

A hedonic pricing model was estimated to measure how age, pregnancy status, breed and cull cow prices impact the sale price of these cattle. Data came from an annual heifer and cow sale in Tennessee between 2009 and 2018. A financial simulation model was developed to generate distributions of net present value (NPV) for buying replacement females at various ages and pregnancy status and then selling that female at various ages and pregnancy status.

The hedonic pricing model indicates sale prices were highest for five-year-old cows that were between four to five months pregnant. NPV was higher for buying heifers versus buying cows and for buying an open female versus a pregnant female. Regardless of age and pregnancy status when purchased, NPV was higher when the female was sold as pregnant prior to the end of her productive life. The risk analysis showed that risk aversion, buying older open cows and selling them as pregnant earlier in their productive life was preferred

This research offers unique insight into how pregnancy status and age at sale impacts the animal's NPV while considering risk. These results have implications for educating producers on purchasing and selling decisions of heifers and cows as well as for lenders who finance these purchases.

This study aims to determine whether consumers are willing to pay a premium for locally produced hard apple cider and examine the factors influencing this premium. This study examines the influence of hard apple cider attributes and consumer characteristics on consumer preferences for local hard apple cider.

Data from a 2019 survey of 875 Tennessee consumers regarding their preferences for a local hard apple cider were obtained. Probit estimates were used to calculate the premium consumers were willing to pay for a locally made hard apple cider and factors influencing this premium. A multivariate probit was used to ascertain factors influencing the importance of attributes (e.g. heirloom apples, sweetness/dryness, sparking/still and no preservatives added) on local hard apple cider preference.

Consumers would pay a $3.22 premium for local hard apple cider compared with a $6.99 reference product. Local foods preferences, urbanization, weekly purchases of other alcoholic beverages and shopping venues influenced premium amounts. Other important attributes were sweetness/dryness and no preservatives. Influence of consumer demographics suggests targeted marketing of local ciders could be successful.

Few studies examine consumer preferences for hard apple ciders. This study represents a cross-sectional analysis of the premium consumers would pay for local hard apple ciders and the importance of other hard apple cider attributes.

The purpose of this paper is to investigate the impact of January sentiment on investors’ asset allocation decisions in the US corporate bond market during the rest of the year. Specifically, the study evaluates if the shift in January sentiment is a predictor of corporate bond spreads from February to December.

Using corporate bond trades reported in TRACE between 2005 and 2014, the authors examine the ability of the Index of Consumer Sentiment and the Index of Investor Sentiment to predict bond spreads over the 11 months following January. The study evaluates both the sign of the change in sentiment and the magnitude of the change in sentiment using two generalized linear models, controlling for industry, bond and firm fixed effects. Portfolios are analyzed based on yield, firm size and firm leverage. Additional analysis is performed to ensure results are robust to the impacts of the subprime financial crisis.

This paper finds that the changes in the sentiment measures in January predict bond spreads associated with bond trades in the subsequent 11 months, and this phenomenon, which the authors label as the “January sentiment effect,” has opposing impacts on risky and less risky bond portfolios.

This paper adds to the literature on the relationship between sentiment and investor’s allocation decisions. The evidence documented in this study is the first known to find that investors’ allocation decisions in a year are driven by their sentiment in January.

To evaluate current apparel industry Misses grading practices in providing good fit and propose grading practices to improve fit.

Participants representing Misses sizes 6‐20 based on ASTM D 5585 were selected. The fit of garments from traditionally graded patterns was assessed. Garments were fit‐to‐shape on participants. Traditionally graded patterns were compared to fit‐to‐shape patterns using quantitative and qualitative visual analysis.

Current apparel industry grading practices do not provide good fit for consumers. The greatest variation between the traditionally graded patterns and the fit‐to‐shape patterns occurred between sizes 14 and 16. For size 16 and up, neck and armscye circumferences were too large and bust dart intakes were too small.

This study was limited to a sheath dress in Misses sizes 6‐20. Future research should assess the fit of garments from traditionally graded patterns for other size ranges.

Multiple fit modes are needed in a range of more than five sizes. The fit model should be at the middle of a sizing group that does not range more than two sizes up or down.

There are few studies on apparel grading that test fit of actual garments on the body. The analysis documents the real growth of the body across the size range and suggests that changes in body measurements and shape determine the fit of a garment. These findings impact future research in apparel and the practices of apparel manufacturers.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this chapter is to explore the phenomenon of innovation in a particular setting in Japan, and more specifically to trace a local initiative toward the creation of an “innovation ecosystem” in a large city and its surrounding region in Western Japan, with the aim of fostering entrepreneurship and economic revitalization.

The analysis in this chapter is based on ethnographic fieldwork, including participant-observation in meetings and events held to promote entrepreneurship and collaboration in the region, as well as interviews with city officials, managers, and entrepreneurs related to the activities of the creation of the “innovation ecosystem.”

In the chapter, I show how the emergence of the ecosystem metaphor for business innovation informs practices and imaginaries in which relations, co-creation, and natural growth become central as models of and for innovation processes in a context of crisis, in ways that generate not only innovation but the ecosystem itself.

The chapter provides historical and social context to the metaphor of the innovation ecosystem that is receiving increasing interest globally, and provides insights into how innovation activities and the enacting of the “innovation ecosystem” take place in practice.

The objective was to provide research‐based insights from two groups of respondents as to their perceptions, preferences and desire to purchase Chinese – influenced Western dress.

Ten images of models in designer clothing were selected that varied in degree of Chinese influence. College students from a US and a Chinese university, numbering 55 and 56 respectively, were asked to respond by ranking each image to discern their perceptions of ethnic influence and their preferences for and desire to purchase each of the ten images. Responses were compared and analyzed.

A conclusion based upon analysis of responses was that degree of Chinese influence was less critical than the aesthetic character of the form itself. Some disagreement occurred in respondent's highest ranked preferences. Regarding preference and desire to purchase, US respondents ranked them similarly, while Chinese students ranked them differently.

The sample was confined to College students with similar majors in the two countries. Limiting the sample in this way offered control in age and interest, but also limited application of results.

This study addressed the perceptions, preferences and purchasing desires for dress with Chinese influence in a cross cultural perspective. Respondents in this study preferred effective design of the whole image and not simply a borrowing of disparate ethnic attributes.

Results provide a managerial guide for ethnic fashion marketers.