scholarly journals THE ROLE OF CAP RISK MANAGEMENT IN INCOME STABILISATION: EMPIRICAL EVIDENCE OF IST IN SLOVAKIA

2021 ◽  
Author(s):  
Andrea Boháčiková ◽  
◽  
Tatiana Bencová ◽  
Keyword(s):  
Risk Management ◽  
Agricultural Sector ◽  
Annual Income ◽  
The European Union ◽  
Income Volatility ◽  
Income Loss ◽  
Income Risk ◽  
Managing Risk ◽  
High Level ◽  
Average Annual Income

In the European Commission (EC) proposals for the Common Agricultural Policy (CAP) post2020 is emphasized the aim to better support the resilience of agricultural systems in the European Union (EU). This resilience is based on the concern that the agricultural sector should be supported in responding to current and future economic, societal, and environmental challenges and risks. Managing risk in farming includes number of activities and strong effort of farms and policy makers. One part of risk management refers to income stabilisation, aimed at decreasing the unstable financial situation and high level of income volatility in European agriculture. In the EU, every year at least 20% of farmers experience an income loss of more than 30% compared with their average income in the three previous years. The public instruments to mitigate the income risk of farmers included under the Pillar II (insurance premiums, mutual funds, and the Income stabilisation tool) have been implemented only by very low number of EU countries. In the paper, we analyze the ability to decrease the instability of Slovak farmers with the use of Income stabilisation tool of CAP. The Income stabilisation tool (IST) can be used to indemnify the farmers, who experienced a “severe drop” in income, reflecting the income loss of more than 20% or 30% compared to the 3-years average annual income, or the 5-years average annual income, excluding highest and lowest entry (Olympic average). The IST has not been used in the Slovakia, or any other European country operationally so far.

scholarly journals Risk factors in the agriculture sector

2017 ◽  
Vol 63 (No. 6) ◽  
pp. 247-258 ◽  
Author(s):  
Jankelova Nadezda ◽  
Masar Dusan ◽  
Moricova Stefania
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Agricultural Sector ◽  
Price Risk ◽  
Income Risk ◽  
Legal Form ◽  
Agriculture Sector ◽  
Individual Character ◽  
The Individual ◽  
High Level

The agricultural sector je characterized by the fact that there is a high level of risk. It was always this case, but in the last years, there is a tendency of the increasing of the risk. The ability of early detection and effective management of the risks is an integral part of the strategic management of every agricultural organization. The paper presents the procedure and outcomes of the questionnaire survey aimed at the occurrence of the risk factors and approaches to the risk management in the enterprises of the primary agricultural production in Slovakia. The survey is focused on the individual character of the risk. The results of the survey point out the fact, that Slovakian farmers perceive the price risk, production or income risk as the most important risk factors, and the diversification as a most important strategy of the risk management. The most significant positive correlations were found between the land size and the perception of the price risk importance, between the number of years in office and the perception of the price risk importance. Concerning the production or income risk, the significant positive correlation was found in the legal form of business. As the most important, there was evaluated the risk perceived by the self-employed farmers.  

scholarly journals THE EFFECT OF INCOME STABILISATION TOOL ON SLOVAK AGRICULTURE

2020 ◽  
Author(s):  
Andrea Boháčiková ◽  
◽  
Tatiana Bencová ◽  
Zuzana Kapustová ◽  
◽  
...  
Keyword(s):  
Mutual Fund ◽  
Public Support ◽  
Potential Effect ◽  
Income Volatility ◽  
Income Loss ◽  
Income Risk ◽  
Policy Makers ◽  
The Common ◽  
The Individual ◽  
The Eu

Managing income risk in agriculture is one of the important issues for farmers and policy makers nowadays. There exist a set of instruments and mechanisms for farmers to face the income volatility, including the individual or public support. Under II Pillar, the Common Agricultural Policy (CAP) offers the support for less favoured farms in the way of insurance, mutual fund, and Income stabilisation tool. The Income Stabilisation Tool (IST) represents the compensation to farmers for a “severe drop” in income, if the farm experienced an income loss of more than 30% compared to the 3-years average or the Olympic average of the preceding five-year income realizations. However, none of the EU countries has been currently using the tool operationally. The main objective of the paper is to investigate the potential effect of the Income Stabilisation Tool on mitigation of income risk in Slovak agriculture. The results of the paper show the existing possibility to improve financial situation and reduce the income inequality of particular Slovak farms in the future.

scholarly journals Handel produktami rolno-spożywczymi w Umowie o partnerstwie gospodarczym między UE a Japonią

2019 ◽  
Vol 19(34) (2) ◽  
pp. 89-102
Author(s):  
Andżelika Kuźnar ◽  
Jerzy Menkes
Keyword(s):  
Text Analysis ◽  
Agricultural Sector ◽  
Trade Agreements ◽  
The European Union ◽  
Trade Data ◽  
Economic Partnership Agreement ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
High Level ◽  
The Eu

In 2018, the European Union and Japan concluded an Economic Partnership Agreement (EPA), which is one of the widest and most comprehensive trade agreements signed by the Parties to date. This Agreement covers issues related to access to agricultural markets of both Parties, assuming the liberalization of tariff and non-tariff barriers. Due to the greater importance of the agricultural sector in EU exports to Japan than vice versa, as well as the high level of protection of the Japanese market, the Agreement is of great importance for the EU, including Poland’s agri-food exporters. The aim of the paper is to determine the possible effects of EPA on the development of exports of agri-food products from EU countries, in particular from Poland to Japan. The study was based on EPA text analysis and the latest trade data.

GLOBALIZATIONAL AND NORMATIVE DETERMINANTS OF THE IMPROVEMENT OF THE BANKING CREDIT RISK MANAGEMENT IN POLAND

2018 ◽  
Vol 4 (2) ◽  
pp. 257-293
Author(s):  
Beata Domańska-Szaruga ◽  
Dariusz Prokopowicz ◽  
Wioletta Wereda
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Financial Institutions ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
The European Union ◽  
Credit Risk Management ◽  
Polish Economy ◽  
High Level ◽  
Banking Credit

Since the beginning of the nineties, globalization processes have also been progressing faster in Poland. One of the sectors of the Polish economy in which globalization is proceeding relatively quickly is the financial sector, especially commercial banking. This is related to the acquisition of Polish banks by foreign financial institutions, i.e. the process that most intensively occurred in the 90s of the last century. In addition, Poland's accession in 2004 to the structures of the European Union and the development of electronic banking, the development of technologies and Internet services are factors that have accelerated globalization processes in Poland in recent years. The high level of globalization also applies to the capital market, both from the side of the organization and the nature of transactions made at the Warsaw Stock Exchange. The result of this high level of globalization of financial markets in Poland was the rapid appearance of negative market and cyclical effects of the global financial crisis in the autumn of 2008. The source of this crisis was the acceptance of an excessively high level of credit risk in US investment banks. However, the negative economic consequences of this crisis also quickly appeared in Poland. In addition to the significant depreciation of market valuations of shares of companies listed on the War-saw Stock Exchange, significant macroeconomic effects have also appeared in the form of a decline in the economic growth of the Polish economy. The existing situation indicates the need to continue the improvement of banking prudential regulations and credit risk management instruments in financial institutions.

CONCEPTUALISING RISK CULTURE ON ERM IMPLEMENTATION IN CONSTRUCTION COMPANIES

2020 ◽  
Vol 17 (1) ◽  
pp. 59
Author(s):  
Ching Ching Wong
Keyword(s):  
Risk Management ◽  
Risk Identification ◽  
The Body ◽  
Risk Indicators ◽  
Construction Companies ◽  
Risk Appetite ◽  
Risk Culture ◽  
Risk Treatment ◽  
Managing Risk ◽  
The Relationship

Enterprise Risk Management (ERM) is an effective technique in managing risk within an organization strategically and holistically. Risk culture relates to the general awareness, attitudes and behaviours towards risk management in an organisation. This paper presents a conceptual model that shows the relationship between risk culture and ERM implementation. The dependent variable is ERM implementation, which is measured by the four processes namely risk identification and risk assessment; risk treatment; monitor and consult; communicate and consult. The independent variables under risk culture are risk policy and risk appetite; key risk indicators; accountability; incentives; risk language and internal relationships. This study aims to empirically test the relationship between risk culture and ERM implementation among Malaysian construction public listed companies. Risk culture is expected to have direct effects and significantly influence ERM. This study contributes to enhance the body of knowledge in ERM especially in understanding significant of risk culture that influence its’ implementation from Malaysian perspective.

10. Designing an online curriculum supporting risk management and patient safety

2007 ◽  
Vol 30 (4) ◽  
pp. 33
Author(s):  
T. Gondocz ◽  
G. Wallace
Keyword(s):  
Risk Management ◽  
Medical Education ◽  
Patient Safety ◽  
Online Learning ◽  
Online Courses ◽  
Learning System ◽  
Online Curriculum ◽  
For Profit ◽  
Not For Profit ◽  
Managing Risk

The Canadian Medical Protective Association (CMPA) is a not for profit mutual defence organization with a mandate to provide medico-legal assistance to physician members and to educate health professionals on managing risk and enhancing patient safety. To expand the outreach to its 72,000 member physicians, the CMPA built an online learning curriculum of risk management and patient safety materials in 2006. These activities are mapped to the real needs of members ensuring the activities are relevant. Eight major categories were developed containing both online courses and articles. Each course and article is mapped to the RCPSC's CanMEDS roles and the CFPC's Four Principles. This poster shares the CMPA’s experience in designing an online patient safety curriculum within the context of medico-legal risk management and provides an inventory of materials linked to the CanMEDS roles. Our formula for creation of an online curriculum included basing the educational content on real needs of member physicians; using case studies to teach concepts; and, monitoring and evaluating process and outcomes. The objectives are to explain the benefits of curricular approach for course planning across the continuum in medical education; outline the utility of the CanMEDS roles in organizing the risk management and patient safety medical education curriculum; describe the progress of CMPA's online learning system; and, outline the potential for moving the curriculum of online learning materials and resources into medical schools.

Statistical evaluation and forecasting of human resources support by specialists and workers of mass professions of agricultural organizations of the grainsheep-breeding zone of Stavropol region

2020 ◽  
pp. 58-75
Author(s):  
Alexey Gerasimov ◽  
Evgeny Gromov ◽  
Oksana Grigor'eva
Keyword(s):  
Agricultural Sector ◽  
Import Substitution ◽  
Educational Institutions ◽  
Industrial Complex ◽  
Stavropol Region ◽  
Breeding Zone ◽  
The Creation ◽  
Business Structures ◽  
Agroindustrial Complex ◽  
High Level

Improving the efficiency of agricultural production and the competitiveness of agricultural products is impossible without the creation of professional teams with a high level of productivity. The formation and development of the personnel potential of the agro-industrial complex comes to the fore in the light of ensuring the country’s food security and solving the problems of import substitution. The development of the industry relies more on the creation of a vertical education system, the development of rural territories, etc. Compilation of forecasts for the staffing of the agroindustrial complex will coordinate the efforts of educational institutions, business structures, and authorities in organizing the training and retraining of personnel for the agricultural sector.

scholarly journals Economic and financial position of agricultural enterprises in the period before the accession to the European Union

2012 ◽  
Vol 50 (No. 11) ◽  
pp. 486-494
Author(s):  
Z. Chrastinová
Keyword(s):  
European Union ◽  
Agricultural Sector ◽  
Agricultural Land ◽  
Agricultural Products ◽  
Cold Weather ◽  
Business Success ◽  
Agricultural Cooperatives ◽  
The European Union ◽  
Adverse Weather ◽  
Legal Entities

In the year before the accession to the European Union, the Slovak agricultural sector reported a loss of SKK 2.4 billion and following a profitable year, the earnings were reduced by SKK 2.8 billion. The situation was caused by a number of reasons, namely reduced sales of agricultural products, damage resulting from adverse weather effects (cold weather, hail, drought and  swine fever), as well as widening of the price gap compared to the year before (increasing input prices in agriculture and decreasing purchase prices of agricultural products, especially in livestock production). Legal entities and natural persons experienced mixed business success. While 51% of legal entities made profit, the figure rose to 76% in the group of natural persons. Both the agricultural cooperatives and trading companies performed with a loss. The loss per hectare of agricultural land (a.l.) was substantially lower in the case of business companies. Natural persons - private farmers were profitable over the period. The gap between the profitable and loss-making enterprises has widened. Some 60% of profitable enterprises owned by legal entities made only a small profit below SKK 0.5 million. The loss-making performance was typical for more productive areas of Slovakia. This was related to stronger effects of adverse climate in 2003.

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