Assessing the financial condition and accounts receivable risk among US farmer cooperatives

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gerald Mashange ◽  
Brian C. Briggeman
Keyword(s):  
Stress Test ◽  
Test Model ◽  
Test Results ◽  
Content Type ◽  
Accounts Receivable ◽  
Financial Condition ◽  
Farmer Cooperatives ◽  
Retained Earnings ◽  
Bad Debt ◽  
Over Time

PurposeThe purpose of this paper is to examine the financial condition and ability of farmer cooperatives to withstand significant increases in bad debt expense.Design/methodology/approachA unique data set of farmer cooperative financial statements that spans from 1996 to 2019 is used to examine the changes in profitability, solvency, liquidity and accounts receivable risk. Also, a deterministic stress test model is designed to shock bad debt expense and the resulting write-off of accounts receivable for farmer cooperatives. The stress test provides insights to the resiliency of farmer cooperatives.FindingsResults find that farmer cooperatives are in a strong financial position, which has improved over time. The majority of farmer cooperatives are able to absorb a substantial increase in bad debt expense because of their sizable, retained earnings position. However, cooperatives that have significant profitability challenges do experience much larger losses, especially mixed farmer cooperatives (roughly equally amounts of grain and farm supply sales) and large cooperatives with more than $500 million in sales.Practical implicationsThe stress test results suggest farmer cooperative managers and boards of directors could re-examine their credit policies and consider extending additional credit. Also, cooperatives should consider monitoring and identifying an optimal accounts receivable to retained earnings ratio, which is similar to how banks examine their tier 1 capital ratios.Originality/valueThe value of this study is having data that allows for the examination of the financial condition of farmer cooperatives over time. Also, having current data means the accounts receivable stress test results are more relevant and timelier. This is important because these accounts receivable are primarily tied to crop input supplies, and farmer cooperatives are a significant market participant in the crop input supply market.

Characterising the airtightness of dwellings

2019 ◽  
Vol 38 (1) ◽  
pp. 89-106 ◽  
Author(s):  
Minnie M.A. Ashdown ◽  
Jenny Crawley ◽  
Phillip Biddulph ◽  
Jez Wingfield ◽  
Robert Lowe ◽  
...  
Keyword(s):  
Test Results ◽  
Reinforced Concrete Frame ◽  
Construction Technique ◽  
Data Set ◽  
Content Type ◽  
Timber Frame ◽  
Concrete Frame ◽  
Construction Methods ◽  
Over Time

Purpose The purpose of this paper is to investigate the distribution of dwelling airtightness test results for a developer, between 2007 and 2011. The changes in airtightness test results over time are discussed, and links between the airtightness test results and the construction technique are investigated. Design/methodology/approach A data set of airtightness test results was statistically analysed by applying probabilistic model of the distribution and using Bayesian parameter estimation techniques. Findings The inferred background distributions, those estimated to describe dwelling performance before secondary sealing, suggest an improvement in airtightness between 2008 and 2011, the mode decreases from 5.46±0.09 m3/m2h to 4.12±0.07 m3/m2h with a corresponding shift in practice towards a more target-driven approach. The most airtight dwellings are constructed from reinforced concrete frame, followed by “traditional” (dry lined masonry), timber frame and lightweight steel frame. Research limitations/implications This study is limited by the size of the available data set (901 dwellings), and by the fact that the data set contains a larger proportion of flats to houses; however, the metadata has enabled the exploration of the link between construction practices and airtightness. Practical implications Developers need better guidance surrounding how to meet more stringent airtightness requirements through improvements to the primary air barrier, with incentives and support to deliver changes in practice. Furthermore, if a large number of dwellings undergo secondary sealing, this may have implications for the long-term efficiency of the dwelling stock. Originality/value This analysis investigates two issues that have not previously been studied on a significant number of dwellings: the changes to the distribution of airtightness results over time and the link between construction methods and airtightness.

Business incubator training management model to increase graduate competency

2019 ◽  
Vol 26 (3) ◽  
pp. 773-787 ◽  
Author(s):  
I Made Sudana ◽  
Delta Apriyani ◽  
Eko Supraptono ◽  
Arasinah Kamis
Keyword(s):  
Training Model ◽  
Test Model ◽  
Test Results ◽  
Business Incubator ◽  
Study Program ◽  
Final Model ◽  
Content Type ◽  
Second Development ◽  
Beauty Salon ◽  
Model Determination

Purpose The purpose of this paper is to produce a business incubator training model for students to form graduates in order to have competence in the field of entrepreneurship in an effort to reduce high unemployment. Design/methodology/approach The method used in this study was research and development (R&D) that consisted of the following five stages: first, planning based on the result of initial observation in the field, second, development of training model, third, validity test model, fourth, limited test and fifth, final model determination. This research used and involved 12 beauty successful beauty salon entrepreneurs as validator models of business incubator training management. Findings The test results show that the training model developed is effective in forming entrepreneurship competence of graduates, so it is feasible to be applied in Beauty Education Study Program, Engineering Faculty of Universitas Negeri Semarang. Practical implications The resulted model can be used as a learning model that can develop the skill of entrepreneurship level for students. Originality/value This study provides contribution to the unemployment level decrease and employment acceleration.

scholarly journals Clinical judgement in chest pain: a case report 

2021 ◽  
Vol 15 (1) ◽  
Author(s):  
Mishita Goel ◽  
Shubhkarman Dhillon ◽  
Sarwan Kumar ◽  
Vesna Tegeltija
Keyword(s):  
Chest Pain ◽  
Coronary Artery ◽  
Tobacco Use ◽  
Stress Test ◽  
Artery Bypass ◽  
Pretest Probability ◽  
Clinical Judgement ◽  
Test Results ◽  
Cardiac Stress ◽  
History Of

Abstract Background Cardiac stress testing is a validated diagnostic tool to assess symptomatic patients with intermediate pretest probability of coronary artery disease (CAD). However, in some cases, the cardiac stress test may provide inconclusive results and the decision for further workup typically depends on the clinical judgement of the physician. These decisions can greatly affect patient outcomes. Case presentation We present an interesting case of a 54-year-old Caucasian male with history of tobacco use and gastroesophageal reflux disease (GERD) who presented with atypical chest pain. He had an asymptomatic electrocardiogram (EKG) stress test with intermediate probability of ischemia. Further workup with coronary computed tomography angiography (CCTA) and cardiac catheterization revealed multivessel CAD requiring a bypass surgery. In this case, the patient only had a history of tobacco use but no other significant comorbidities. He was clinically stable during his hospital stay and his testing was anticipated to be negative. However to complete workup, cardiology recommended anatomical testing with CCTA given the indeterminate EKG stress test results but the results of significant stenosis were surprising with the patient eventually requiring coronary artery bypass grafting (CABG). Conclusion As a result of the availability of multiple noninvasive diagnostic tests with almost similar sensitivities for CAD, physicians often face this dilemma of choosing the right test for optimal evaluation of chest pain in patients with intermediate pretest probability of CAD. Optimal test selection requires an individualized patient approach. Our experience with this case emphasizes the role of history taking, clinical judgement, and the risk/benefit ratio in deciding further workup when faced with inconclusive stress test results. Physicians should have a lower threshold for further workup of patients with inconclusive or even negative stress test results because of the diagnostic limitations of the test. Instead, utilizing a different, anatomical test may be more valuable. Specifically, the case established the usefulness of CCTA in cases such as this where other CAD diagnostic testing is indeterminate.

scholarly journals Rough diamonds in emerging markets: legacy, competitiveness, and sustained high performance

2019 ◽  
Vol 26 (3) ◽  
pp. 363-386
Author(s):  
Seung Ho Park ◽  
Gerardo R. Ungson
Keyword(s):  
Human Capital ◽  
Emerging Markets ◽  
High Performance ◽  
Core Competencies ◽  
Market Potential ◽  
Government Support ◽  
Screening Tests ◽  
Institutional Voids ◽  
Content Type ◽  
Over Time

Purpose The purpose of this paper is to uncover the underlying drivers of sustained high performing companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies provides a complementary way of appraising the growth, development and transformation of emerging markets. The authors synthesize the findings in an overarching framework that covers six strategies for building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming institutional voids, inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. The authors relate these strategies to different levels of development using Prahalad and Hart’s BOP framework. Design/methodology/approach This study examines the underlying drivers of sustained high-performance companies based on field studies from an initial set of 105,260 BRIC companies and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the selection, the authors constructed cases using primary interviews and secondary data, with the assistance of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to arrive at an extended integrative framework. Findings From the cases, the authors examine six strategies for building and sustaining legacy that lead to high performance over time: overcoming institutional voids, creating inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. To address the evolving state of institutional voids in these countries, the authors employ similar methods to hypothesize the placement of these strategies in the context of the world economic pyramid, initially formulated as the “bottom of the pyramid” framework. Originality/value This paper synthesizes and extends the authors’ previous works by proposing the concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets. This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state. Altogether, the paper provides a complementary narrative on assessing the market potential of emerging markets by adopting several categories of performance.

scholarly journals Beyond agency and stewardship theory: shareholder–manager relationships and governance structures in family firms

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ann Sophie K. Löhde ◽  
Giovanna Campopiano ◽  
Andrea Calabrò
Keyword(s):  
Social Exchange ◽  
Family Business ◽  
Social Exchange Theory ◽  
Family Firms ◽  
Governance Structure ◽  
Managerial Behavior ◽  
Exchange System ◽  
Content Type ◽  
The One ◽  
Over Time

PurposeChallenging the static view of family business governance, we propose a model of owner–manager relationships derived from the configurational analysis of managerial behavior and change in governance structure.Design/methodology/approachStemming from social exchange theory and building on the 4C model proposed by Miller and Le Breton-Miller (2005), we consider the evolving owner–manager relationship in four main configurations. On the one hand, we account for family businesses shifting from a generalized to a restricted exchange system, and vice versa, according to whether a family manager misbehaves in a stewardship-oriented governance structure or a nonfamily manager succeeds in building a trusting relationship in an agency-oriented governance structure. On the other hand, we consider that family firms will strengthen a generalized exchange system, rather than a restricted one, according to whether a family manager contributes to the stewardship-oriented culture in the business or a nonfamily manager proves to be driven by extrinsic rewards. Four scenarios are analyzed in terms of the managerial behavior and governance structure that characterize the phases of the relationship between owners and managers.FindingsVarious factors trigger managerial behavior, making the firm deviate from or further build on what is assumed by stewardship and agency theories (i.e. proorganizational versus opportunistic behavior, respectively), which determine the governance structure over time. Workplace deviance, asymmetric altruism and patriarchy on the one hand, and proorganizational behavior, relationship building and long-term commitment on the other, are found to determine how the manager behaves and thus characterize the owner's reactions in terms of governance mechanisms. This enables us to present a dynamic view of governance structures, which adapt to the actual attitudes and behaviors of employed managers.Research limitations/implicationsAs time is a relevant dimension affecting individual behavior and triggering change in an organization, one must consider family business governance as being dynamic in nature. Moreover, it is not family membership that determines the most appropriate governance structure but the owner–manager relationship that evolves over time, thus contributing to the 4C model.Originality/valueThe proposed model integrates social exchange theory and the 4C model to predict changes in governance structure, as summarized in the final framework we propose.

Changes in commitment to change among leaders in home help services

2015 ◽  
Vol 28 (3) ◽  
pp. 216-227 ◽  
Author(s):  
Kristina Westerberg ◽  
Susanne Tafvelin
Keyword(s):  
Organizational Change ◽  
Structured Interviews ◽  
Change Initiatives ◽  
Commitment To Change ◽  
Content Type ◽  
Team Meetings ◽  
Home Help ◽  
Home Help Services ◽  
One Year ◽  
Over Time

Purpose – The purpose of the this study was to explore the development of commitment to change among leaders in the home help services during organizational change and to study this development in relation to workload and stress. During organizational change initiatives, commitment to change among leaders is important to ensure the implementation of the change. However, little is known of development of commitment of change over time. Design/methodology/approach – The study used a qualitative design with semi-structured interviews with ten leaders by the time an organizational change initiative was launched and follow-up one year later. Thematic content analysis was used to analyze the interviews. Findings – Commitment to change is not static, but seems to develop over time and during organizational change. At the first interview, leaders had a varied pattern reflecting different dimensions of commitment to change. One year later, the differences between leaders’ commitment to change was less obvious. Differences in commitment to change had no apparent relationship with workload or stress. Research limitations/implications – The data were collected from one organization, and the number of participants were small which could affect the results on workload and stress in relation to commitment to change. Practical implications – It is important to support leaders during organizational change initiatives to maintain their commitment. One way to accomplish this is to use management team meetings to monitor how leaders perceive their situation. Originality/value – Qualitative, longitudinal and leader studies on commitment to change are all unusual, and taken together, this study shows new aspects of commitment.

New product and emerging business growth in Kwara State

2016 ◽  
Vol 12 (3) ◽  
pp. 207-227 ◽  
Author(s):  
Seun Oladele ◽  
Femi Oladele
Keyword(s):  
Market Share ◽  
Manufacturing Industry ◽  
Service Industry ◽  
New Product ◽  
Sales Volume ◽  
Test Results ◽  
Business Growth ◽  
Content Type ◽  
Product Service ◽  
Service Portfolio

Purpose – The purpose of this paper is to examine the effect of new product on growth of emerging businesses (EBs) through sales volume and market share. Design/methodology/approach – The study surveyed 137 EBs in Kwara State. Two hypotheses were formulated and tested using correlation and regression analyses. Findings – Results show that service industry is dominant among EBs while the manufacturing industry trails. Many EBs are aware of the complexities of new product, its development and contribution to increasing sales volume, market share and ensuring competitive advantage with apparent infrastructural deficiencies. Test results show that there is a significant positive relationship and effect on sales volume and market share. Originality/value – Encouraging EBs to step up and focus on improving product/service portfolio to transform their fortune is explored giving focus to the benefits of increasing sales volume and market share.

Design of Static Test Model for Three-Tower Cable-Stayed Self-Anchored Suspension Composed Bridge

2011 ◽  
Vol 243-249 ◽  
pp. 1528-1535
Author(s):  
Yu Zhao ◽  
Yong Jun Zhou ◽  
Jing Sun ◽  
Jin Tao Tang ◽  
Xu Li
Keyword(s):  
Complex System ◽  
Finite Element ◽  
Element Model ◽  
Test Model ◽  
Test Results ◽  
Static Test ◽  
Whole Process ◽  
Aesthetic Appearance ◽  
Load Carrying ◽  
Novel Structures

Cable-stayed self-anchored suspension composed bridges have novel structures and aesthetic appearance with complex system and difficulty for design and construction. In order to acquire a better knowledge of the load-carrying capability of this type of bridges, based on a real bridge and the theory of abnormal similarity, a full-bridge scaled down(1:20) test model was built to simulate the whole process of construction. The test results were preferably fit the theoretical calculation value. It can be seen that the design of the bridge was reasonable, and the accuracy of the calculation of finite element model was verified at the same time. The test and the related results can be used as the reference for the test and design of the similar bridges.

scholarly journals Limiting the Pitch Count in Youth Baseball Pitchers Decreases Elbow Pain

2021 ◽  
Vol 9 (3) ◽  
pp. 232596712198910
Author(s):  
Tetsuya Matsuura ◽  
Yuki Takata ◽  
Toshiyuki Iwame ◽  
Jyoji Iwase ◽  
Kenji Yokoyama ◽  
...  
Keyword(s):  
Range Of Motion ◽  
Stress Test ◽  
Daily Maximum ◽  
Test Results ◽  
Level Of Evidence ◽  
Valgus Stress ◽  
Radiographic Images ◽  
Elbow Pain ◽  
Youth Baseball ◽  
Baseball Pitchers

Background: Reducing the number of pitches thrown is regarded as the most effective way to prevent throwing injuries in youth baseball pitchers. However, few studies have compared the effectiveness of limiting the pitch count versus the limiting the number of innings pitched in terms of elbow injuries. Hypothesis: We hypothesized that, compared with inning limits, pitch count limits would lead to greater decreases in elbow pain, range of motion deficits, positive moving valgus stress test results, and the risk of capitellar osteochondritis dissecans (OCD). Study Design: Cohort study; Level of evidence, 3. Methods: This study retrospectively reviewed baseball pitchers aged 8 to 12 years in 2017 and 2018. Inning and pitch count limits in games were set to a daily maximum of 7 innings in 2017 and 70 pitches in 2018. Elbow pain, range of motion, and moving valgus stress test results were evaluated. The presence of capitellar OCD was assessed on ultrasonographic and radiographic images. Results: A total of 352 pitchers in 2017 and 367 pitchers in 2018 participated. The mean pitch count per game was lower in the pitch count limit (CL) group (52.5 ± 16.0) than in the inning limit (IL) group (98.2 ± 19.5) ( P < .001). Compared with the IL group, the CL group had significantly lower rates of elbow pain (40.9% vs 31.9%, respectively; P = .01) and reduced flexion (19.0% vs 10.6%, respectively; P = .001). Multivariate analysis revealed a significant association between elbow pain and age in both the IL and the CL groups ( P < .0001 and P = .02, respectively) and between OCD and elbow pain in the CL group ( P = .04). Conclusion: A pitch count limit of ≤70 pitches per day for baseball pitchers ≤12 years could be more protective against elbow pain and reduced flexion than a limit of ≤7 innings per day, but it may not be effective for reducing the risk of capitellar OCD.

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