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Essays on pig production efficiency and farmers' financial decisions under uncertainty

Labajova, Katarina. (2018). Essays on pig production efficiency and farmers' financial decisions under uncertainty. Diss. (sammanfattning/summary) Uppsala : Sveriges lantbruksuniv., Acta Universitatis Agriculturae Sueciae, 1652-6880 ; 2018:37
ISBN 978-91-7760-214-9
eISBN 978-91-7760-215-6
[Doctoral thesis]

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Abstract

Recent structural changes in agricultural production towards fewer, but larger, units pose challenges for farmers in decision making about practical production and about managerial practices to increase efficiency, which are vital for farm productivity and profitability. In studies using mathematical programming and econometric models, this thesis evaluated farm-specific characteristics related to the individual technical efficiency (TE) of each input and output factor and of managerial characteristics associated with persistent TE (PTE) and residual TE (RTE). Regarding farm-specific variables, the results indicated that advisory services, farm location and most housing practices were not significant for technical efficiency, with the exception of recent technology such as heated floors. Use of written instructions on feeding and in preventing infectious diseases was associated with higher technical efficiency. For the best results, decision makers should use separate approaches depending on pig production specialisation and the input or output efficiency requiring improvement. Regarding managerial practices, managerial experience, economy-driven goals and use of strategic management accounting practices were drivers of PTE. In contrast, conducting bookkeeping checks more frequently and focusing on meeting market demands in terms of quality were negatively associated with PTE. Joint time significance evaluation of lagged individual technical efficiency on variables of structural change in the regression model confirmed the long-term nature of investments in Swedish pig farming.

Under uncertainty, decisions made by farmers may be biased, producing suboptimal solutions. For example, illusion of control can give a sense of controlling power in situations where the outcome is determined by chance. Alternative ways to collate and analyse data are needed to evaluate behaviours under uncertainty. Presence of illusion of control in farmers’ financial decisions was explored in a study with a framed economic experimental design, survey data and a psychological scale. The results did not indicate the presence of illusion of control in the sample of Swedish farmers studied. The outcome measures showed low levels of correlation, suggesting that different methods and measurement instruments are complements, rather than substitutes.

Findings provide information that could help farmers in their complex production and managerial decisions.

Authors/Creators:Labajova, Katarina.
Title:Essays on pig production efficiency and farmers' financial decisions under uncertainty
Series/Journal:Acta Universitatis Agriculturae Sueciae (1652-6880)
Year of publishing :May 2018
Depositing date:14 May 2018
Volume:2018:37
Number of Pages:59
Papers/manuscripts:
NumberReferences
ILabajova, K., Hansson, H., Asmild, M., Göransson, L., Lagerkvist, C.J. & Neil, M.(2016). Multidirectional analysis of technical efficiency for pig production systems: The case of Sweden. Livestock Science187, 168-180.
IIManevska-Tasevska, G., Hansson, H. & Labajova, K. (2017). Impact of management practices on persistent and residual technical efficiency –a study of Swedish pig farming. Managerial and Decision Economics38, 890-905.
IIILabajova, K., Hansson, H. & Lagerkvist, C.J. (2017). Effect of technical efficiency on structural changes in Swedish pig production. (manuscript)
IVLabajova, K., Lagerkvist, C.J. & Rommel, J. (2018). Exploring illusion of control in Swedish farmers’ investment and financing decisions. (manuscript)
Place of Publication:Uppsala
Publisher:Department of Economics, Swedish University of Agricultural Sciences.
ISBN for printed version:978-91-7760-214-9
ISBN for electronic version:978-91-7760-215-6
ISSN:1652-6880
Language:English
Publication Type:Doctoral thesis
Full Text Status:Public
Agris subject categories.:E Economics, development, and rural sociology > E10 Agricultural economics and policies
E Economics, development, and rural sociology > E16 Production economics
E Economics, development, and rural sociology > E20 Organization, administration and management of agricultural enterprises or farms
Subjects:(A) Swedish standard research categories 2011 > 4 Agricultural Sciences > 401 Agricultural, Forestry and Fisheries > Agricultural Science
(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Economics
(A) Swedish standard research categories 2011 > 5 Social Sciences > 502 Economics and Business > Business Administration
Agrovoc terms:piggeries, animal husbandry, decison support, management information systems, efficiency, economic behaviour, risk assessment, stochastic models, Sweden
Keywords:behavioural finance, data envelopment analysis, framed field economic experiments, multidirectional efficiency analysis, risk and uncertainty, stochastic frontier, structural change, Swedish pig industry, technical efficiency
URN:NBN:urn:nbn:se:slu:epsilon-e-4881
Permanent URL:
http://urn.kb.se/resolve?urn=urn:nbn:se:slu:epsilon-e-4881
ID Code:15461
Faculty:NJ - Fakulteten för naturresurser och jordbruksvetenskap
Department:(NL, NJ) > Dept. of Economics
Deposited By: Katarina Labajova
Deposited On:16 May 2018 07:38
Metadata Last Modified:25 May 2018 02:53

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