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| Registros recuperados: 11 | |
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| Hudson, Michael A.; Hughes, Matthew W.; Lins, David A.. |
| The financial performance of meat and poultry manufacturing and wholesaling firms is examined for the period from 1970 to 1986. Measures of liquidity, solvency, profitability, cash generation, and efficiency reported in the Robert Morris Associates Annual Statement Studies are used to examine relative performance across the different industries. The results suggest a similar performance in the wholesaling and manufacturing industries across the period in terms of liquidity. Profitability levels are similar for meat and poultry firms, although the poultry firms show a higher level of variability across the period. It appears that poultry firms leveraged themselves relatively more than did meat firms during the period. In terms of cash generation and... |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1988 |
URL: http://purl.umn.edu/26955 |
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| Zapata, Hector O.; Hudson, Michael A.; Garcia, Philip. |
| A Monte Carlo investigation is used to examine the performance of two commonly used tests for Granger causality for univariate and bivariate nonstationary ARMA (p,q) processes. Tests are applied to raw data, first differences of the raw data, and detrended versions of the series. The results indicate that for independent series the tests are robust regardless of sample size. With bivariate series and nonstationarity, the tests results are sensitive to the ARMA specification, whether the data are filtered and the type of filter used, and the sample size. |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1988 |
URL: http://purl.umn.edu/32108 |
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| Koontz, Stephen R.; Hudson, Michael A.; Hughes, Matthew W.. |
| The efficiency of livestock futures markets continues to receive attention, particularly with regard to their forward pricing or forecasting ability. The purpose of this paper is to present a more general theory that encompasses the forward pricing concept. It is argued that futures contract prices for competitively produced nonstorable commodities, such as live cattle and live hogs, follow a rational formation process. Futures contract prices reflect expected market conditions when contracts are sufficiently close to the delivery month that the supply of the underlying commodity cannot be changed. However, prior to the period when future supplies are relatively fixed, futures contract prices should adjust to reflect the competitive equilibrium, where... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Livestock Production/Industries. |
| Ano: 1992 |
URL: http://purl.umn.edu/30384 |
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| Evans, Kevin J.; Streeter, Deborah H.; Hudson, Michael A.. |
| An understanding of changes in price volatility is of value to policy makers and exchange committee members as well as other participants in commodity futures markets. Previous research has studied volatility by measuring: 1) the flow of new information into the market, or 2) the effect that the structure of the futures market has on price volatility. In this paper, a model is developed which integrates these two themes in the literature to measure and explain price volatility in live cattle futures prices. The model is subjected to a battery of diagnostic tests so that a comparison can be made between the integrated model and models from previous research. Also, since price volatility from the underlying commodity is a major component in the determination... |
| Tipo: Working Paper |
Palavras-chave: Livestock Production/Industries; Marketing; Risk and Uncertainty. |
| Ano: 1992 |
URL: http://purl.umn.edu/121352 |
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| Registros recuperados: 11 | |
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