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Articles 1 - 25 of 25
Full-Text Articles in Agribusiness
National Halo And Culture Mixing: U.S. Consumer Acceptance Of Korean Cultivated Meat Made With Seaweed Components, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
National Halo And Culture Mixing: U.S. Consumer Acceptance Of Korean Cultivated Meat Made With Seaweed Components, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
Research Collection Lee Kong Chian School Of Business
The purpose of this qualitative study was to investigate U.S. consumers’ perception and acceptance of a “culturally mixed” product – i.e., cultivated meat (beef) made with Korean seaweed components – a product that involves the blending of a foreign cultural element (Korean seaweed) with a local cultural element (cultivated beef) to create a mixed cultural representation. Subsequently, it aimed to assess if the product’s country of origin (i.e., South Korea) would influence consumer perception and acceptance. Online in-depth interviews were conducted with 20 U.S. consumers recruited through two market research companies. The interview transcripts were analyzed by two trained coders …
Eliciting Supplier Cooperation For Value Chain Decarbonization: A Field Experiment With Smallholder Farmers In India, Sukti Ghosh, Jasjit Singh
Eliciting Supplier Cooperation For Value Chain Decarbonization: A Field Experiment With Smallholder Farmers In India, Sukti Ghosh, Jasjit Singh
Research Collection Lee Kong Chian School Of Business
Many firms are attempting to reduce greenhouse gas emissions across their value chain. However, this requires convincing suppliers to adopt relevant decarbonization practices, which is challenging when the suppliers perceive such practices as risky or detrimental for their economic well-being. We employ a field experiment to examine relational investments (i.e., investments intended to promote mutual benefit for the exchange partners) as a tool for overcoming this challenge. In a research collaboration with a global firm pursuing decarbonization of its agricultural supply chain in India, we investigated the effectiveness of complementing training their supplier farmers on climate-friendly agricultural practices with also …
On-Site Sensory Experience Boosts Acceptance Of Cultivated Chicken, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
On-Site Sensory Experience Boosts Acceptance Of Cultivated Chicken, Mark Chong, Angela K. Y. Leung, Tricia Marjorie Fernandez
Research Collection Lee Kong Chian School Of Business
This study set out to assess if presenting cultivated chicken in the context of a familiar meal, in a familiar dining setting, would motivate repeat consumption and recommendation. A survey of 107 diners was conducted at Huber's Butchery and Bistro in Singapore – the world's first butchery to serve cultivated meat – from April to June 2023. The findings showed that eating cultivated chicken significantly boosted post-consumption acceptance levels. In addition, cultivated chicken's tastiness may be a more important factor than its integration into a familiar meal or dish in fostering repeat consumption. Implications for the cultivated meat industry, limitations, …
Economic And Environmental Implications Of Biomass Commercialization In Agricultural Processing, Bin Li, Onur Boyabatli, Buket Avci
Economic And Environmental Implications Of Biomass Commercialization In Agricultural Processing, Bin Li, Onur Boyabatli, Buket Avci
Research Collection Lee Kong Chian School Of Business
Motivated by the agricultural industries, this paper studies the economic and environmental implications of biomass commercialization; that is, converting organic waste into a saleable product, from the perspective of a processor that uses a commodity input to produce both a commodity output and biomass. We characterize the economic value of biomass commercialization and examine how input and output spot price uncertainties affect this value. Using a model calibration, we find that lower input spot price variability or higher output spot price variability or correlation between the two spot prices increases this value for a typical palm oil mill. To measure …
Social Acceptance Vital To Success Of Novel Food Technologies, Mark Chong, Mark Chong
Social Acceptance Vital To Success Of Novel Food Technologies, Mark Chong, Mark Chong
Research Collection Lee Kong Chian School Of Business
In a joint commentary, SMU Associate Professor of Communication Management (Practice) Mark Chong and Andrew Powell , CEO of Asia BioBusiness Pte Ltd, discussed how social acceptance is vital to the success of novel food technologies. They also explained how companies should be guided by the science of risk perception and behavioural science, and why a risk communication and engagement strategy is an essential component of risk management.
Endogeneity Of Commodity Price In Freight Cost Models, Kian Guan Lim
Endogeneity Of Commodity Price In Freight Cost Models, Kian Guan Lim
Research Collection Lee Kong Chian School Of Business
In this paper, we answer a novel question on how the value of goods carried can affect the freight cost. We focus on the issue based on a more specialized freight market involving transport of seaborne iron ore from mining ports to Qingdao in China during the period 2014 to 2019. We construct simultaneous systems of demand–supply equations on both the iron ore market and the freight market. In the models, we explain how endogeneity of iron ore as a regressor can arise due to the nexus between the two markets, and that the freight demand is largely a derived …
Procurement Management In Agricultural Commodity Processing, Onur Boyabatli, Bin Li
Procurement Management In Agricultural Commodity Processing, Onur Boyabatli, Bin Li
Research Collection Lee Kong Chian School Of Business
This chapter provides insights on the optimal procurement decisions of a commodity processing firm that sources a primary input from a quantity flexibility contract (which is characterized by a unit reservation price and a unit exercise price), to produce two outputs in fixed proportions. The firm faces uncertainties in input spot price and output demands. Our objective is twofold. First, in a single-contract setting, we investigate the role of demand correlation in the presence of fixed proportions technology and show that the firm benefits from a higher demand correlation. Second, we investigate the firm’s optimal contract selection strategy between the …
Capacity Management In Agricultural Commodity Processing, Onur Boyabatli, Jason (Quang) Dang Nguyen
Capacity Management In Agricultural Commodity Processing, Onur Boyabatli, Jason (Quang) Dang Nguyen
Research Collection Lee Kong Chian School Of Business
This chapter examines the capacity investment decisions of an agricultural processing firm that produces a commodity output and a byproduct using a commodity input. We model the firm’s problem as a finite-horizon stochastic dynamic program where the firm makes one-time input processing capacity and output storage capacity investment decisions—in addition to periodic processing and inventory decisions—when facing uncertainty in both input and output spot prices as well as output yield. We characterize the optimal capacity investment portfolio in closed form. Using a model calibration based on the palm industry, we compare the performance of the optimal investment policy against capacity …
Dynamic Crop Allocation In The Presence Of Two-Season Crop Rotation Benefits, Onur Boyabatli, Javad Nasiry, Yangfang Zhou
Dynamic Crop Allocation In The Presence Of Two-Season Crop Rotation Benefits, Onur Boyabatli, Javad Nasiry, Yangfang Zhou
Research Collection Lee Kong Chian School Of Business
The objective of this chapter is twofold. First, to study how a farmer should dynamically allocate farmland between two crops when the crops have rotation benefits across growing seasons, i.e., when it is more profitable to grow a crop on rotated farmland (where the other crop was grown) than on non-rotated farmland (where the same crop was grown). Second, to develop a practically implementable heuristic allocation policy and examine its performance in comparison with other heuristic policies commonly suggested in the literature. While the chapter is based on our companion paper (Boyabatlı et al (Management Sci 65(5):2060–2076, 2019)), we characterize …
Pinduoduo: Empowering Farmers With An E-Commerce Platform, Hao Liang, Sin Mei Cheah
Pinduoduo: Empowering Farmers With An E-Commerce Platform, Hao Liang, Sin Mei Cheah
Research Collection Lee Kong Chian School Of Business
A case study on how Pinduoduo's dedicated portal has helped farmers during the Covid-19 outbreak.
Oil At Risk: Political Violence And Accelerated Carbon Extraction In The Middle East And North Africa, Ryan Knowles Merrill, Anthony W. Orlando
Oil At Risk: Political Violence And Accelerated Carbon Extraction In The Middle East And North Africa, Ryan Knowles Merrill, Anthony W. Orlando
Research Collection Lee Kong Chian School Of Business
What effect does the threat of expropriation have on resource extraction? Much of the economic literature suggests that uncertainty reduces investment, but the theory of risk-induced extraction suggests the opposite. In this paper, we test this theory in the context of political violence, which poses a real threat of state destabilization and violent expropriation of property rights. Facing this uncertainty, we find that oil producers in the Middle East and North Africa increase oil production in response to political violence. This finding has important negative consequences for the world in terms of climate change and demonstrates a previously untested mechanism …
Predictive Insights For Improving The Resilience Of Global Food Security Using Artificial Intelligence, Meng Leong How, Yong Jiet Chan, Sin Mei Cheah
Predictive Insights For Improving The Resilience Of Global Food Security Using Artificial Intelligence, Meng Leong How, Yong Jiet Chan, Sin Mei Cheah
Research Collection Lee Kong Chian School Of Business
Unabated pressures on food systems affect food security on a global scale. A human-centric artificial intelligence-based probabilistic approach is used in this paper to perform a unified analysis of data from the Global Food Security Index (GFSI). The significance of this intuitive probabilistic reasoning approach for predictive forecasting lies in its simplicity and user-friendliness to people who may not be trained in classical computer science or in software programming. In this approach, predictive modeling using a counterfactual probabilistic reasoning analysis of the GFSI dataset can be utilized to reveal the interplay and tensions between the variables that underlie food affordability, …
Wti Crude Oil Option Implied Var And Cvar: An Empirical Application, Giovanni Barone-Adesi, Marinela Adriana Finta, Chiara Legnazzi, Carlo Sala
Wti Crude Oil Option Implied Var And Cvar: An Empirical Application, Giovanni Barone-Adesi, Marinela Adriana Finta, Chiara Legnazzi, Carlo Sala
Research Collection Lee Kong Chian School Of Business
Using option market data we derive naturally forward-looking, non-parametric and model-free risk estimates, three desired characteristics hardly obtainable using historical returns. The option-implied measures are only based on the first derivative of the option price with respect to the strike price, bypassing the difficult task of estimating the tail of the return distribution. We estimate and backtest the 1%, 2.5%, and 5% WTI crude oil futures option-implied value at risk and conditional value at risk for the turbulent years 2011–2016 and for both tails of the distribution. Compared with risk estimations based on the filtered historical simulation methodology, our results …
Crop Planning In Sustainable Agriculture: Dynamic Farmland Allocation In The Presence Of Crop Rotation Benefits, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou
Crop Planning In Sustainable Agriculture: Dynamic Farmland Allocation In The Presence Of Crop Rotation Benefits, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou
Research Collection Lee Kong Chian School Of Business
This paper examines crop planning decision in sustainable agriculture---that is, how to allocate farmland among multiple crops in each growing season when the crops have rotation benefits across growing seasons. We consider a farmer who periodically allocates the farmland between two crops in the presence of revenue uncertainty where revenue is stochastically larger and farming cost is lower when a crop is grown on rotated farmland (where the other crop was grown in the previous season). We characterize the optimal dynamic farmland allocation policy and perform sensitivity analysis to investigate how revenue uncertainty of each crop affects the farmer's optimal …
How Does Energy Matter? Rural Electrification, Entrepreneurship, And Community Development In Kenya, Antoine Vernet, Jane N. O. Khayesi, Vivian George, Gerard George, Abubakar S. Bahaj
How Does Energy Matter? Rural Electrification, Entrepreneurship, And Community Development In Kenya, Antoine Vernet, Jane N. O. Khayesi, Vivian George, Gerard George, Abubakar S. Bahaj
Research Collection Lee Kong Chian School Of Business
We examine the impact of rural electrification on individuals and businesses within a community in order to test a resource-based theory of entrepreneurship. We show that access to electricity increases average households’ income and entrepreneurial activities. The impact of electricity on entrepreneurial activity has wide-ranging implications for development policy in countries where access to electricity is sparse. Results show a significant difference in entrepreneurial opportunities with respect to firm formation, with the electrified site reporting more new micro-enterprises than the control site after implementation. Electrification affects both households’ income, individuals’ perceptions of their social position, and opportunities for business development. …
Corn, Soybeans Or Fallow: Dynamic Farmland Allocation Under Uncertainty, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou
Corn, Soybeans Or Fallow: Dynamic Farmland Allocation Under Uncertainty, Onur Boyabatli, Javad Nasiry, Yangfang (Helen) Zhou
Research Collection Lee Kong Chian School Of Business
This chapter develops a theoretical basis for understanding the trade-offs facing a farmer for allocating his farmland among several crops over multiple growing seasons. Specifically, we focus on the farmland allocation among two cash crops (corn and soybeans) and letting the farmland lay fallow to rejuvenate the soil and increase the revenue for the crop grown on this farmland in the subsequent seasons. In each growing period, the farmer chooses the allocation in the presence of revenue uncertainty for each cash crop, and crop rotation benefits across periods, where revenue is stochastically larger and farming cost is lower when a …
The Impact Of An Electrical Mini-Grid On The Development Of A Rural Community In Kenya, Abubakr Bahaj, Luke Blunden, Christopher Kanani, Patrick James, Issac Kiva, Zoe Matthews, Heather Price, Hildah Essendi, Jane Ealkingham, Gerard George
The Impact Of An Electrical Mini-Grid On The Development Of A Rural Community In Kenya, Abubakr Bahaj, Luke Blunden, Christopher Kanani, Patrick James, Issac Kiva, Zoe Matthews, Heather Price, Hildah Essendi, Jane Ealkingham, Gerard George
Research Collection Lee Kong Chian School Of Business
Electrical mini-grids can provide electrification to rural communities far from the national network. However the benefits of such schemes are disputed. We observed changes in two matched trading-centres in Makueni County, Kenya, neither of which were initially electrified. During the study a solar photovoltaic mini-grid scheme (13.5 kWp) was constructed in one of the trading-centres. After electrification there were relative increases in the number of businesses and business income. Comparing the households in the areas around the trading centres, perceived wealth increased more around the electrified trading centre. Qualitative interviews indicated improvements in service provision by the local school and …
Volatility Spillovers Among Oil And Stock Markets In The Us And Saudi Arabia, Marinela Adriana Finta, Bart Frijns, Alireza Tourani-Rad
Volatility Spillovers Among Oil And Stock Markets In The Us And Saudi Arabia, Marinela Adriana Finta, Bart Frijns, Alireza Tourani-Rad
Research Collection Lee Kong Chian School Of Business
In this article, we use high frequency data and an identification via changes in volatility approach to assess the volatility spillovers among oil and the US and Saudi Arabian stock markets. We document the existence of asymmetry in contemporaneous spillover effects. Particularly, during the times when oil’s trading hours overlap with the US and Saudi Arabian stock markets, the volatility spillover from oil to the stock markets is higher than the other way around. We highlight the importance of taking into consideration the information present during continuous trading hours of oil, especially during simultaneous trading hours with the stock markets. …
Commodity Return Predictability: Evidence From Implied Variance, Skewness And Their Risk Premia, Marinela Adriana Finta, Jose Renato Haas Ornelas
Commodity Return Predictability: Evidence From Implied Variance, Skewness And Their Risk Premia, Marinela Adriana Finta, Jose Renato Haas Ornelas
Research Collection Lee Kong Chian School Of Business
This paper investigates the role of realized and implied and their risk premia (variance and skewness) for commodities’ future returns. We estimate these moments from high frequency and commodity futures option data that results in forward-looking measures. Risk premia are computed as the difference between implied and realized moments. We highlight, from a cross-sectional and time series perspective, the strong positive relation between commodity returns and implied skewness. Moreover, we emphasize the high performance of skewness risk premium. Additionally, we show that their portfolios exhibit the best risk-return tradeoff. Most of our results are robust to other factors such as …
Capacity Management In Agricultural Commodity Processing And Application In The Palm Industry, Onur Boyabatli, Jason Quang Dang Nguyen, Tong Wang
Capacity Management In Agricultural Commodity Processing And Application In The Palm Industry, Onur Boyabatli, Jason Quang Dang Nguyen, Tong Wang
Research Collection Lee Kong Chian School Of Business
This paper examines the capacity investment decisions of a processor that uses a commodity input to produce both a commodity output and a byproduct in the context of agricultural industries. We employ a multi-period model to study the optimal one-time processing and (output) storage capacity investment decisions---in addition to the periodic processing and inventory decisions---when both input and output spot prices as well as production yield are uncertain. We characterize the optimal decisions and perform sensitivity analysis to investigate how spot price uncertainty affects the processor's optimal capacity and profitability. Using a calibration based on the palm industry, we study …
Product Safety Failure And Restoring Reputation Across Markets: Fonterra's Management Of The 2013 Bacterial Contamination Crisis, Augustine Pang
Product Safety Failure And Restoring Reputation Across Markets: Fonterra's Management Of The 2013 Bacterial Contamination Crisis, Augustine Pang
Research Collection Lee Kong Chian School Of Business
Modern distribution systems often stretch beyond national borders such that a highly-visible product failure in a single country may negatively influence the reputation and market share of all identifiable supply chain members-even those that are blameless-in multiple countries, especially when the product is related to food safety. This study considers how Fonterra's response to its 2013 bacterial contamination crisis influenced its own reputation and that of the New Zealand dairy milk industry. It first traces how the crisis started in March 2013 and how it ended in August when investigations showed that the bacteria found did not cause botulism, a …
The Principles Of The Dry Bulk Ffa Market, Ron Wilson
The Principles Of The Dry Bulk Ffa Market, Ron Wilson
Research Collection Lee Kong Chian School Of Business
No abstract provided.
An Integrated Framework For Rural Electrification: Adopting A User-Centric Approach To Business Model Development, Simon J. D. Schillebeeckx, Priti Parikh, Rahul Bansal, Gerard George
An Integrated Framework For Rural Electrification: Adopting A User-Centric Approach To Business Model Development, Simon J. D. Schillebeeckx, Priti Parikh, Rahul Bansal, Gerard George
Research Collection Lee Kong Chian School Of Business
Rural electrification (RE) has gained prominence over the past two decades as an effective means for improving living conditions. This growth has largely been driven by socio-economic and political imperatives to improve rural livelihood and by technological innovation. Based on a content analysis of 232 scholarly articles, the literature is categorized into four focal lenses: technology, institutional, viability and user-centric. We find that the first two dominate the RE debate. The viability lens has been used less frequently, whilst the user-centric lens began to engage scholars as late as 2007. We provide an overview of the technological, institutional and viability …
Perception Of The Risks And Benefits Of Bt Eggplant By Indian Farmers, Mark Chong
Perception Of The Risks And Benefits Of Bt Eggplant By Indian Farmers, Mark Chong
Research Collection Lee Kong Chian School Of Business
Several researchers most notably Lennart Sjoberg and his colleagues have proposed that the moral aspects of risk provide a better explanation of risk perception than the psychometric paradigm or Cultural Theory, neither of which accounts for moral concerns. This study is possibly the first to assess empirically the perception of the risks and benefits of a transgenic food crop transgenic Bt ( Bacillus thuringiensis ) eggplant by farmers in a developing country such as India. It also aims to assess if the moral aspects of risk figure in Indian farmers' perception of Bt eggplant and if economic benefits outweigh perceived …
Acceptance Of Golden Rice In The Philippine Rice Bowl, Mark Chong
Acceptance Of Golden Rice In The Philippine Rice Bowl, Mark Chong
Research Collection Lee Kong Chian School Of Business
Few science issues in recent years have elicited such polarized public reactions as modern biotechnology and its agricultural applications. Although a new study conducted by the University of Illinois at Urbana-Champaign and the International Service for the Acquisition of Agri-biotech Applications (Ithaca, NY, USA) indicates that Southeast Asian stakeholders generally hold positive views about agricultural biotechnology.