The paper studies the relationship, adjustment ability, path, efficiency and intensity of price transmission in the swine industry chain in China, which consists of the prices of corn, compound feed for fattening pig,...The paper studies the relationship, adjustment ability, path, efficiency and intensity of price transmission in the swine industry chain in China, which consists of the prices of corn, compound feed for fattening pig, piglet, pig and pork. Monthly prices covering a period of 18 yr （1994-2011） are analyzed using a Market-Chain Cooperated Model （MCM）. The empirical results show that there exists a stable long-term cointegration and short-term dynamic relationship in the price system. First, the adjustment speed of each price series is very slow and the transmission path is top-down and one-way significantly. Second, the price from upstream to downstream lags about 2 mort, while there is no lag in price transmission from midstream to downstream. Third, in terms of price transmission intensity, the price of pig impacted greatly on pork price, not only in the current period but also through the whole period. Besides, the price of corn has the largest lagged effects on pork price. According to the above empirical results, we suggest that government should strengthen monitoring and early warning of the swine industry chain, especially the upstream and midstream, attach great importance to the timely adjustment of feed prices and perfect the measures of price subsidy.展开更多
Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct in...Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014. It obtained following results:( i) The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.( ii) Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency. In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.( iii) The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.( iv) The total asset turnover ratio,equity concentration,and R & D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.展开更多
基金supported by the Key Projects of National Key Technology R&D Program during the 12th Five-Year Plan period(2012BAH20B04)the 948 Program of MoA of China(2012-Z1)the Technology and Construction of Agricultural Information Monitoring and Early Warning System of China(2012-ZL017)
文摘The paper studies the relationship, adjustment ability, path, efficiency and intensity of price transmission in the swine industry chain in China, which consists of the prices of corn, compound feed for fattening pig, piglet, pig and pork. Monthly prices covering a period of 18 yr （1994-2011） are analyzed using a Market-Chain Cooperated Model （MCM）. The empirical results show that there exists a stable long-term cointegration and short-term dynamic relationship in the price system. First, the adjustment speed of each price series is very slow and the transmission path is top-down and one-way significantly. Second, the price from upstream to downstream lags about 2 mort, while there is no lag in price transmission from midstream to downstream. Third, in terms of price transmission intensity, the price of pig impacted greatly on pork price, not only in the current period but also through the whole period. Besides, the price of corn has the largest lagged effects on pork price. According to the above empirical results, we suggest that government should strengthen monitoring and early warning of the swine industry chain, especially the upstream and midstream, attach great importance to the timely adjustment of feed prices and perfect the measures of price subsidy.
基金Supported by Young Scholar Project of Humanities and Social Science Foundation of Ministry of Education"Study on Stability Mechanism of Symbiosis Network of the Swine Industry"(15YJC630118)
文摘Listed companies of the swine industry,as an important form of agricultural industrialized operation,are typical representatives of large-scale production and the level of their operation efficiency exerts a direct influence on the healthy development of the swine industry.Using the DEA-based Malmquist method,this paper made a static and dynamic evaluation of the operation efficiency of 16 listed companies in China's swine industry in 2010-2014. It obtained following results:( i) The overall efficiency of listed companies of China's swine industry remained at high level and the development trend was excellent.( ii) Different types of enterprises had difference in the overall efficiency,pure technical efficiency and scale efficiency. In general,pig feed processing companies had the best performance,followed by slaughtering and deep processing companies,and swine breeding companies were the worst.( iii) The total factor productivity characterized by the Malmquist index declined year by year in 2010-2013 and was improved in 2014,mainly due to technological progress.( iv) The total asset turnover ratio,equity concentration,and R & D management level had a significantly positive impact on the operation efficiency of listed companies in the swine industry,while the human capital had a significantly negative impact.
