Bagnarosa G., Cummins M., Dowling M., Kearney F. (2022). Commodity risk in European dairy firms. European review of agricultural economics, 01/01/2022, vol. 49, n. 1, p. 151181.
https://doi.org/10.1093/erae/jbab050
https://doi.org/10.1093/erae/jbab050
Titre : | Commodity risk in European dairy firms (2022) |
Auteurs : | G. Bagnarosa ; M. Cummins ; M. Dowling ; F. Kearney |
Type de document : | Article |
Dans : | European review of agricultural economics (vol. 49, n. 1, January 2022) |
Article en page(s) : | p. 151181 |
Langues : | Anglais |
Langues du résumé : | Anglais |
Catégories : |
Catégories principales 10 - INDUSTRIES ; 10.5 - Produits LaitiersThésaurus IAMM INDUSTRIE LAITIERE ; GESTION DU RISQUE ; MATIERE PREMIERE ; GESTION FINANCIERE ; PRODUIT LAITIER ; PERFORMANCE DE L'ENTREPRISE ; PRODUCTION LAITIERE ; EUROPE |
Résumé : | We apply a multivariate mixed-data sampling (MIDAS) conditional quantile regression technique to understand the dairy commodity exposure of European dairy firms. Leveraging a theoretically sound hedonic dairy pricing framework, we show that our approach is able to identify both market and operational risk. Profit margins for butter and milk price are particularly important for operational performance. Additional tests are provided, including an application of MIDAS quantile on a period of amplified dairy market risk. Our approach thus allows dairy firms to gain new perspectives on the significant risks posed by the current structure of dairy production in Europe. |
Cote : | En ligne |
URL / DOI : | https://doi.org/10.1093/erae/jbab050 |