Tag Archives: Market Efficiency

Structure, Conduct and Performance of Rice Marketing in Kebbi State, Nigeria (Published)

The Study examined the Structure, Conduct and Performance of rice marketing in Kebbi State, Nigeria. Data were generated from a sample of 240 rice marketers using a well structured and pretested questionnaire between January and August 2018. A  multi-stage sampling technique was employed.  Data were analysed using descriptive statistics, gross margin analysis, return on investment, Gini coefficient and Lorenz curve. Results of the study revealed that marketing of rice was highly concentrated having a Gini Coefficient value of 0.70 in terms of structural distribution of the commodity among rice traders in the study area. Strategies utilized by the traders in their market conduct include; selling long grain rice (92%), treating customers well (90.42%), selling non-adulterated rice (81.67%), distributing rice to customers location (78.80%), selling rice on credit (72.90%) among others. The findings further revealed that marketing of rice is profitable realizing an average of N 316. 503.00 as profit. With an investment turnover of 1.17, the study indicates that rice marketing in the study area is efficient. This suggests that rice marketing is a viable business. It is recommended that investments should be tailored towards having more rice processing mills to ensure timely purchase and sales of rice.

Keywords: Conduct, Market Efficiency, Structure, profit

Market Structure and Chain Analysis of Haricot Bean (Phaseolus Vulgaris L) (Published)

Haricot bean is now becoming one of the most reputable crops for its role for human consumption. A research was undertaken in Enebse Sar Midir district, northern Ethiopia, with the objectives of identifying the different marketing channels, evaluating the marketing margins and examining the market structure. Data were gathered using formal and informal methods of data collection and processed using SPSS-20. The result revealed that a total of 15,200 tons of haricot bean was produced in the district in and of this; 13,468 tons was found to pass through the marketing channels during 2011/2012. Following the marketing chains, 7 marketing channels were identified. Market concentration measures indicated that markets were found to be strongly oligopolistic and inefficient in structure (with wide final consumers’ price spread). Gross marketing margin was maximum for city wholesalers (38.60%) and minimum for farmer traders (13.22%) of the consumers’ price). Net marketing margin was maximum (11.52%) for processors and minimum (7.36) for rural assemblers. In order to empower producers, marketing actors and intensify the existing business, the structure and efficiency of haricot bean markets have to be improved. Empowering producers with financially (facilitating credit) and training can improve the market structure and performance.

Keywords: Ethiopia, Market Concentration, Market Efficiency, Marketing Actors, Oligopoly.

Impact of the Moon Phases on Prices of 110 Equity Indices and Commodities (Published)

The influence of the moon on human behavior has been featured in many, not only scientific publications. This paper tests the hypothesis that the one-session rates of return of 107 stock indices and commodities, calculated for full moon and new moon phases (considering moon phases falling on Saturdays and Sundays – Regime 1, or ignoring them – Regime 2), are statis-tically different form zero (at the significance level of 95%). Calculations presented in this paper indicate that the one-session average rates of return for the sessions, when the moon was in new phase, are statistically different from zero. For Regime 1, the null hypothesis was rejected for 15 and 39 indices and commodities when the moon was in the full and noon phase (α=5%), respectively, and for Regime 2, the number of null hypothesis rejection was equal to 26 (full moon) and 45 (new moon) – for α=5%. In case of testing equality of average rates of return in two populations, the number of null hypothesis rejection was equal in the Regime 1: 5 and 21 (for full and new moon, respectively), whilst in the Regime 2, it mounted to 5 and 17. In case of testing the null hypothesis regarding equality of one-session average rates of return, computed for each day of the week, the result permit to reject in the Regime 1: 46 and 34 cases, and in the Regime 2: 39 and 54 cases (full and new moon, respectively). Calculations of one-session average rates of return, regarding moon phases falling in a specific month, displayed that they are statistically different from zero – in the Regime 1: in 131 and 70 cases and in the Regime 2: in 120 and 80 cases (for full and new moon, respectively).

Keywords: Calendar Effects, Market Anomalies, Market Efficiency, Moon Influence