Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
Cover of the book

2022 | OriginalPaper | Chapter

1. The Effect of Financial and Non-financial Factors on the Productivity and Profitability of the Goat Industry: A Modelling Approach to Structural Equations

Authors : Maria Tsiouni, Spyridon Mamalis, Stamatis Aggelopoulos

Published in: Food Policy Modelling

Publisher: Springer International Publishing

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

Goat farming is an important production sector of Greece, as it contributes to the family economy in rural areas. Despite the importance of the goat industry, this sector has experienced economic difficulties due to poor management and increased production costs; as a result, the sector presents reduced efficiency and low competitiveness. This study investigates the factors affecting the inter-organizational relationships in the goat industry in Greece and assesses the influence that the financial and non-financial factors have on the financial performance of these firms. To identify the factors determining farmers’ economic performance, a structural equation model was used. Research hypotheses describe the effects between inter-organizational relationships in correlation to gross revenue. The model hypothesizes that gross revenue is predicted by labour in hours, loans, feed in kg, fixed capital expenditures, education level and the age of the farmers. Data were gathered from a questionnaire administered via a direct survey to goat farmers in the Greek regions of Thessaloniki and Larisa. The sample consisted of 272 farms and the survey took place during 2020. Results point out the direct and indirect contributions that these factors have on gross revenue, and by extension, to the productivity and profitability of the goat industry.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
next chapter Initiating Transition to Agro-ecological Farming Systems in Market-Oriented Arable Farming with Soil Conservation Practices: A Case Study in Hungary
Literature
Aggelopoulos, S., Soutsas, K., Pavloudi, A., Sinapis, E., & Petkou, D. (2009). Suggestions for reformation in sheep farms based on production cost. Journal of food Agriculture and Environment, 7(3 & 4), 561–566.
Aggelopoulos, S., Soutsas, K., Pavloudi, A., & Menexes, G. (2011). Business ranking based on qualitative economic parameters: Application of a methodological pattern on sheep farms. International Journal of Engineering and Management, 3(2), 65–76.
Akram, K., Iqbal, M., & Hayat, M. (2020). The role of formal and informal credit in agriculture sector: A case study of district Faisalabad, Pakistan. Journal of Economic Impact, 2(3), 99–102.CrossRef
Anang, B. T., Sipilainen, T., Backman, S., & Kola, J. (2015). Factors influencing smallholder farmers’ access to agricultural microcredit in northern Ghana. African Journal of Agricultural Research, 10, 2460–2469.CrossRef
Asfaw, A., & Admassie, A. (2004). The role of education on the adoption of chemical fertilizer under different socioeconomic environments in Ethiopia. Agricultural Economics, 30(3), 215–228.CrossRef
Baxevanos, K., Menexes, G., Lazaridou, A., Coolidge, T., Topitsoglou, V., & Kalfas, S. (2021). Dental caries and psychosocial factors: Testing a conceptual model in adolescents. Community Dentistry and Oral Epidemiology, 49, 314–321.CrossRef
Blomstrom, M., Lipsey, R., & Zejan, M. (1996). Is fixed investment the key to economic growth? Quarterly Journal of Economics, 111(4436), 269–276.CrossRef
Bojnec, S. (2011). Financing availability and investment decisions of Slovenian farms during the transition to a market economy. Journal of Applied Economics, 14(2), 297–317.CrossRef
Bollen, K. A. (1989). Structural equations with latent variables. John Wiley & Sons.CrossRef
Bonazzi, G., & Iotti, M. (2014). Interest coverage ratios (ICRs) and financial sustainability: Application to firms with bovine dairy livestock. American Journal of Agricultural and Biological Sciences, 9(4), 482–489.CrossRef
Cabrera, V. E., Solís, D., & Del Corral, J. (2010). Determinants of technical efficiency among dairy farms in Wisconsin. Journal of Dairy Science, 93, 387–393.CrossRef
Castel, J., Mena, Y., Delgado-Pertíñez, M., Camúñez, J., Basulto, J., Caravaca, F., Guzmán-Guerrero, J., & Alcalde, M. (2003). Characterization of semi-extensive goat production systems in southern Spain. Small Rum. Res., 47(2), 133–143.CrossRef
Chandio, A., Jiang, Y., Rehman, A., Twumasi, M., Pathan, A., & Mohsin, M. (2020). Determinants of demand for credit by smallholder farmers’: A farm level analysis based on survey in Sindh, Pakistan. Journal of Asian Business and Economic Studies, ahead-of-print(ahead-of-print).
Chapoto, T., & Aboagye, A. (2017). African innovations in harnessing farmer assets as collateral. African Journal of Economic and Management Studies, 8(1), 66–75.CrossRef
Chisasa, J. (2014). The finance-growth nexus in South Africa’s agricultural sector: A structural equation modeling approach. Banks and Bank Systems, 9, 4.
Cimino, O., Vassallo, M., Henke, R., & Vanni, F. (2021). Income diversification strategies of Italian Peri-urban farms: A structural equation Modeling approach. Land, 10(8), 790.CrossRef
Czubak, W., Pawłowski, K., & Sadowski, A. (2021). Outcomes of farm investment in central and Eastern Europe: The role of financial public support and investment scale. Land Use Policy, 108, 105655.CrossRef
Djokoto, J. G., Owusu, V., & Awunyo-Vitor, D. (2016). Adoption of organic agriculture: Evidence from cocoa farming in Ghana. Cogent Food Agric, 2(1), 1–15.
EC (2019). Rural development in the European Union. Statistical and economic information. Directorate-General for Agriculture and Rural Development.
Ferto, I., Bojnec, S., Fogarasi, J., & Viira, A. H. (2020). Agricultural soft budget constraints in new European Union member states. Journal of Institutional Economics, 16(1), 49–64.CrossRef
Giannakis, E., & Bruggeman, A. (2015). The highly variable economic performance of European agriculture. Land Use Policy, 45, 26–35.CrossRef
Guesmi, B., Serra, T., Kallas, Z., & Gil Roig, J. M. (2012). The productive efficiency of organic farming: The case of grape sector in Catalonia. Spanish Journal of Agricultural Research, 10(3), 552–566.CrossRef
Iliopoulos, C. (2012). Support for farmers’ cooperatives; country report Greece. In Wageningen UR:Wageningen. The.
Jöreskog, K. G., & Sörbom, D. (2007). LISREL8.80: Structural equation modeling with the SIMPLIS command language. IL Scientific Software International.
Karantininis, K. (2017). A new paradigm for Greek agriculture (112 p.). Swedish University of Agricultural Sciences.CrossRef
Khan, K., Kamal, M., Ramazan, S., Khan, G., Ali, G., & Ahmed, S. (2018). Impact of agricultural credit on livestock income: A case study of district Lasbela. Balochistan. Sarhad Journal of Agriculture, 34(2).
Khan, K., Khan, G., Zahri, M., & Altaf, M. (2015). Role of livestock in poverty reduction: A case study of district Lasbela, Balochistan, Lasbela. University of Science and Technology, 4, 153–156.
Kirchweger, S., & Kantelhardt, J. (2015). The dynamic effects of government-supported farm-investment activities on structural change in Austrian agriculture. Land Use Policy, 48, 73–93.CrossRef
Kitsopanidis, G. I. (2005). Viability and profitability of extensive beef cattle farming under present conditions in Greece. In Animal production and natural resources utilization in the Mediterranean mountain areas. EAAP (Vol. 115, pp. 401–405).
Koloszko-Chomentowska, Z., & Sieczko, L. (2016). Effectiveness of fixed assets in agriculture of selected new member states in European Union//15th International Scientific Conference Engineering for Rural Development, Jelgava 25–27 May, 2016, Proceedings Paper 708–713.
Machek, O., & Machek, M. (2014). Factors of business growth: A decomposition of sales growth into multiple factors. WSEAS Transactions on Business and Economics, 11, 380–385.
Marenya, P. P., Kassie, M., Jaleta, M., & Erenstein, O. (2017). Predicting minimum tillage adoption among smallholder farmers using micro-level and policy variables. Agric. Food Econ., 5, 12.CrossRef
Martin-Collado, D., Rose, G., Diaz, C., Zaralis, K., & Yañez-Ruiz, D. (2017). Priority innovations for European sheep and goat industry members. In Proceedings of the 8th Conference on international and Communication Technologies in Agriculture, Food and Environment (HAICTA 2017), Chania, Greece, 21–24 September 2017; pp. 652–657.
Mitsopoulos, I., Tsiouni, M., Pavloudi, A., Gourdouvelis, D., & Aggelopoulos, S. (2021). Improving the technical efficiency and productivity of dairy farms in Greece. Studies in Agricultural Economics, 123(2), 95–100.CrossRef
Muzangwa, L., Mnkeni, P. N. S., & Chiduza, C. (2017). Assessment of conservation agriculture practices by smallholder farmers in the eastern cape province of South Africa. Agronomy, 7, 46.CrossRef
Paraskevopoulou, C., Theodoridis, A., Johnson, M., Ragkos, A., Arguile, L., Smith, L. G., Vlachos, D., & Arsenos, G. (2020). Sustainability assessment of goat and sheep farms: A comparison between European countries. Sustainability, 12, 3099.CrossRef
Pavloudi, Α., Aggelopoulos, S., Tabakis, Ν., & Theocharopoulos, Α. (2013). Evaluation of cost- performance models in sheep breeding farms and competitiveness improvement of the sector: The case of Greece. Woulfenia Journal, 20(4), 275–293.
Pimentel, D., & Pimentel, M. H. (2008). Food, energy and society; CRC press: Boca Raton. FL.
Popescu, A., & David, L. (2015, May 7-8). The use of cobb-Douglas production function to analyze the relationship between gross domestic product, fixed assets and employment in Romania’s agriculture//proceeding of 25th international business information management association conference “innovation vision 2020: From regional development sustainability to global economic growth”, Amsterdam, : 1366–1378.
Posadas-Domínguez, R., Arriaga-Jordán, C., & Martínez-Castañeda, F. (2013). Contribution of family labour to the profitability and competitiveness of small-scale dairy production systems in Central Mexico. Tropical Animal Health and Production, 46(1), 235–240.CrossRef
Pulina, G., Milán, M., Lavín, M., Theodoridis, A., Morin, E., Capote, J., Thomas, D., Francesconi, A., & Caja, G. (2018). Invited review: Current production trends, farm structures, and economics of the dairy sheep and goat sectors. Journal of Dairy Science, 101(8), 6715–6729.CrossRef
Qiao, Y., Martin, F., He, X., Zhen, H., & Pan, X. (2018). The changing role of local government in organic agriculture development in Wanzai County, China. Canadian Journal of Development Studies, 1–14.
Ragkos, A., Koutsou, S., & Manousidis, T. (2016). In search of strategies to face the economic crisis: Evidence from Greek farms. South European Society and Politics, 21, 319–337.CrossRef
Ragkos, A., Koutsou, S., Theodoridis, A., Manousidis, T., & Lagka, V. (2018). Labor management strategies in facing the economic crisis. Evidence from Greek livestock farms. New Medit., 17, 59–71.CrossRef
Robb, D. H. F., & Crampton, V. O. (2013). On-farm feeding and feed management: Perspectives from the fish feed industry. On-farm feeding and feed management in aquaculture. In M.R. Hasan and M.B. New, eds. FAO Fisheries and Aquaculture Technical Paper No. 583 (pp. 489–518). Rome.
Roessali, W., Masyhuri, M., Nurtini, S., & Darwanto, D. (2011). Factors influencing farmers’ decision to increase beef cattle business scale in Central Java Province. Journal of the Indonesian Tropical Animal Agriculture, 36(1).
Shi, D., Lee, T., & Maydeu-Olivares, A. (2019). Understanding the model size effect on SEM fit indices. Educational and Psychological Measurement., 79(2), 310–334.CrossRef
Sidhu, R. S., Vatte, K., & Arjinder, K. (2008). Dynamics of institutional agricultural credit and growth in Punjab: Contribution and demand-supply gap. Agricultural Economics Research Review, 21, 407–414.
Skevas, T., Wu, F., & Guan, Z. (2018). Farm capital investment and deviations from the optimal path. Journal of Agricultural Economics, 69(2), 561–577.CrossRef
Solano, C., Bernués, A., Rojas, F., Joaquıín, N., Fernandez, W., & Herrero, M. (2000). Relationships between management intensity and structural and social variables in dairy and dual-purpose systems in Santa Cruz, Bolivia. Agricultural Systems, 65(3), 159–177.CrossRef
Srivastava, A. (2017). Role of institutional credit for agricultural development in Bihar. Journal of Rural Development, 36(1), 33.CrossRef
Svoboda, J., Lososová, J., & Zdeněk, R. (2016). Subsidies on investments in the EU member states. AGRIS on-Line Papers in Economics and Informatics, 8(4), 153–162.CrossRef
Theodoridis, A., Ragkos, A., Roustemis, D., Galanopoulos, K., Abas, Z., & Sinapis, E. (2012). Assessing technical efficiency of Chios sheep farms with data envelopment analysis. Small Ruminant Research, 107, 85–91.CrossRef
Toma, L., Stott, A. W., Heffernan, C., Ringrose, S., & Gunn, G. J. (2013). Determinants of biosecurity behavior of British cattle and sheep farmers-a behavioral economics analysis. Preventive Veterinary Medicine, 108(4), 321–333.CrossRef
Tsiouni, M. (2018). Financial structure and efficiency of the goat farms. In Ph.D. thesis, school of agriculture. Aristotle University of Thessaloniki.
Tsiouni, M., Aggelopoulos, S., Chioteris, C., Pavloudi, A., & Papanagiotou, E. (2016, September 14-16). A structural equation modeling approach to factors that influence the goat sector: The case of Greece. In Proceedings of the 9th Annual Conference of the EuroMed Academy of Business.
Tzanopoulos, J., Kallimanis, A. S., Bella, I., Labrianidis, L., Sgardelis, S., & Pantis, J. D. (2011). Agricultural decline and sustainable development on mountain areas in Greece: Sustainability assessment of future scenarios. Land Use Policy, 28, 585–593.CrossRef
Tzouramani, I., Sintori, A., Liontakis, A., & Alexopoulos, G. (2012). Assessing financial incentives for Greek dairy sheep farmers. Journal of Food, Agriculture & Environment, 10(2), 493–499.
Vilkeviciutė, J., & Koloszko-Chomentowska, Z. (2020). Costs of maintaining fixed assets in agriculture–Case of Poland and Lithuania. Management Theory and Studies for Rural Business and Infrastructure Development, 42(3), 248–258.CrossRef
Welteji, D., Mohammed, K., & Hussein, K. (2017). The contribution of productive safety net program for food security of the rural households in the case of bale zone, Southeast Ethiopia. Agriculture & Food Security, 6(1).
Zdeněk, R., & Lososová, J. (2014). Factors influencing the labour productivity in dairy sector in EU. Review of Agricultural and Applied Economics, 17(02), 38–44.CrossRef
Zdeněk, R., & Lososová, J. (2020). Investments of Czech farms located in less favoured areas after EU accession. Agricultural Economics (Zemědělská ekonomika), 66(2), 55–64.CrossRef
Zhou, S., Huang, Y., Yao, C., Lu, R., & Liu, X. (2013). Labor cost analysis for pome production in different cultivation modes in Hebei Province. Asian Agricultural Research, 4, 36–40.
Metadata
Title
The Effect of Financial and Non-financial Factors on the Productivity and Profitability of the Goat Industry: A Modelling Approach to Structural Equations
Authors
Maria Tsiouni
Spyridon Mamalis
Stamatis Aggelopoulos
Copyright Year
2022
Book
Food Policy Modelling

Print ISBN: 978-3-031-08316-7

Electronic ISBN: 978-3-031-08317-4

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-031-08317-4_1