This study analyzed the financial profitability and the impacts of socioeconomic factors on hiring an external labor force in tilapia farming in Southern Togo.We obtained the primary data from 75 randomly selected til...This study analyzed the financial profitability and the impacts of socioeconomic factors on hiring an external labor force in tilapia farming in Southern Togo.We obtained the primary data from 75 randomly selected tilapia farmers for socioeconomic analysis by a structured questionnaire.Logit regression and return on investment(ROI)were performed to analyze the influence of socioeconomic factors on the decision of tilapia farmers to hire an external labor force and financial profitability of tilapia farming in the study area,respectively.The results indicate that tilapia farming contributes to employment opportunities in the study area.However,the key variables such as economic diversification,farming experience and educational attainment significantly affect the farmers’decision to hire an external labor force in their farms.Furthermore,tilapia farming is a profitable activity based on the positive mean gross margin and mean net farm income.The ROI was 0.31,which implies that a return of USD 0.31 was obtained for the investment of every single dollar.The government must pay more attention by organizing training or re-training workshops for tilapia farmers,which would improve their socio-economic status.展开更多
文摘This study analyzed the financial profitability and the impacts of socioeconomic factors on hiring an external labor force in tilapia farming in Southern Togo.We obtained the primary data from 75 randomly selected tilapia farmers for socioeconomic analysis by a structured questionnaire.Logit regression and return on investment(ROI)were performed to analyze the influence of socioeconomic factors on the decision of tilapia farmers to hire an external labor force and financial profitability of tilapia farming in the study area,respectively.The results indicate that tilapia farming contributes to employment opportunities in the study area.However,the key variables such as economic diversification,farming experience and educational attainment significantly affect the farmers’decision to hire an external labor force in their farms.Furthermore,tilapia farming is a profitable activity based on the positive mean gross margin and mean net farm income.The ROI was 0.31,which implies that a return of USD 0.31 was obtained for the investment of every single dollar.The government must pay more attention by organizing training or re-training workshops for tilapia farmers,which would improve their socio-economic status.
