Complementarity or Substitution: A Study of the Impacts of Internet Finance and Rural Financial Development on Agricultural Economic Growth

Based on the Chinese county-level panel data from 2014–2018, in the study reported in this paper, we empirically tested the “complementarity and substitution” effects of internet finance and rural finance on rural economic development using the feasible generalized least squares (FGLS) estimation method. The research data were obtained from the China County Statistical Yearbook. Similarly, the data of agricultural credit societies were obtained from the unique database of the agricultural credit societies of Shaanxi Rural Finance Research Center, while the internet finance development index was obtained from the Digital Finance Research Center of Peking University. In this research, we found that rural finance and internet finance contribute to rural economic growth. In the context of rural economic growth, internet finance and rural finance development show a substitution effect. The scale and efficiency of rural finance contribute to rural economic growth, while the structure of rural finance has the opposite effect. The development of internet finance reduces the marginal contribution of the rural financial scale and efficiency to rural economic growth. It weakens the negative effect of the rustic financial structure on rural economic growth. Furthermore, the development of internet finance contributes to the rural economic growth of counties of high economic levels but hinders the development of counties of low and medium economic levels. In counties with a high economic status, the development of internet finance and rural finance have a complementary effect on rural economic growth, while in counties of low and medium economic levels, we can observe a substitution effect. These assessments provide guidance, a source for policy recommendations and a reference for researchers and policy makers seeking to optimize the structure and break the monopoly pattern of agricultural credit cooperation in the rural financial market and to strengthen innovation and significantly improve the operational level of rural financial institutions. Moreover, the development of internet financial business and technology is necessary to overcome the demerits of traditional financial institutions.publishedVersio

Estimating farmers’ willingness to pay for photovoltaic industry to improve agricultural green resources and environment

Based on the consideration of the level of the regional radiation effect of the photovoltaic industry, four main regions were selected as case sites in Pingluo County, Ningxia Province, for this research. The study used the double-bound dichotomous CVM model and C-optimal design to revise the bidding value of the payment scheme that reduced the WTP range error. Five independent subsample questionnaires, including seven bidding value payment schemes, along with four internal range tests and six external range tests, were designed. The results showed that the comparison of the WTP for the improvement of agricultural resources and the environment among different independent sub-samples in the same region passed the external quantitative scope test, indicating that the questionnaire design, survey implementation, and WTP estimation results of the double-bound dichotomous CVM in this study were reliable. Saturation degree, diminishing marginal utility, and substitution effect are the main influencing factors of low marginal WTP added value and embedding effect. When the quantity range changes, the utility of respondents tends to saturate and marginal utility rapidly decreases. Influenced by the aforementioned factors, the sum of the independent estimates of the respondents on the WTP for the improvement of agricultural green resources and environment of the photovoltaic industry in the four research areas is 3.04 times the average value of the overall estimates of the four areas. In order to obtain and maintain the local photovoltaic industry for agricultural production resources and environmental improvement, the average WTP of each respondent was 99.80 yuan per year.publishedVersio

An Estimation of the Effect of Green Financial Policies and Constraints on Agriculture Investment: Evidences of Sustainable Development Achievement in Northwest China

Farming' community actively participating as micro-actors in green finance schemes is critical for regional planning and development. On the basis of the extent to which financial progress and sustainable development are coordinated, in a difference-in-differences approach, this article employed 2350 small investigations to estimate the influence of green-finance strategies on peasants' agriculture investment and developed a mediation effect method. It investigates the role of peasant managerial variability in mediating the influence of financial constraints. The results indicate that the introduction of a financial restriction variable reduces the positive impacts of green-finance regulations on peasants' agricultural investment. Moreover, peasants who participate in non-agricultural management exercises are more inclined to take advantage of green financing regulations and are affected via financial restrictions in mediate means. The building of a green-finance sector in remote regions should accomplish unique positioning and rapid growth.publishedVersio

Drivers of climate variability and increasing water salinity impacts on the farmer’s income risk with future outlook mitigation

Purpose The main aim of this study is to investigate the impact of climate change and water salinity on farmer’s income risk with future outlook mitigation. Salinity and climate change are a threat to agricultural productivity worldwide. However, the combined effects of climate change and salinity impacts on farmers' income are not well understood, particularly in developing countries. Design/methodology/approach The response-yield function and general maximum entropy methods were used to predict the impact of temperature, precipitation and salinity on crop yield. The target minimization of total absolute deviations (MOTAD)-positive mathematical programming model was used to simulate the impact of climate change and salinity on socioeconomic and environmental indicators. In the end, a multicriteria decision-making model was used, aiming at the selection of suitable climate scenarios. Findings The results revealed that precipitation shows a significantly decreasing trend, while temperature and groundwater salinity (EC) illustrate a significantly increasing trend. Climate change and EC negatively impact the farmer's income and water shadow prices. Maximum reduction in income and water shadow prices was observed for A2 scenario (−12.4% and 19.4%) during 2050. The environmental index was the most important, with priority of 43.4% compared to socioeconomic indicators. Subindex amount of water used was also significant in study area, with 28.1% priority. The technique for order preference by similarity to ideal solution ranking system found that B1 was the best climatic scenario for adopting climate change adaptation in the research region. Originality/value In this study, farmers' income threats were assessed with the aspects of different climate scenario (A1, A1B and B1) over the horizons of 2030, 2040 and 2050 and three different indicators (economic, social and environmental) in Northwestern region of Pakistan. Only in arid and semiarid regions has climate change raised temperature and reduced rainfall, which are preliminary symptoms of growing salinity.publishedVersio

How Does Capital Endowment Impact Farmers’ Green Production Behavior? Perspectives on Ecological Cognition and Environmental Regulation

Enhancing rural ecological protection and promoting the adoption of environmentally-friendly agricultural production practices largely depend on the implementation of green production methods by farmers. This research paper focuses on the green production behavior of farmers in Hainan Province, China, drawing insights from survey responses provided by 543 farmers. The study examines how farmers’ capital endowment, ecological cognition, and environmental regulation impact their multiple green production practices, using the ordered probit model, mediation effect model, and moderation effect model for analysis and further applying the Ivoprobit_CMP, PSM, and other methods for endogeneity treatment and a robustness test. The study reveals several key findings. Firstly, only a small proportion of farmers consistently adopt green production practices throughout various stages of agricultural production. Secondly, the research shows that capital endowment, including natural, economic, human, and social capital, has a significant influence on farmers’ green production behavior. Thirdly, the study finds that ecological cognition plays a crucial role in mediating the relationship between capital endowment and its dimensions (human and social capital) and the adoption of green production practices. Additionally, the research discovers that environmental regulation positively moderates the relationship between ecological cognition and farmers’ green production behavior. Finally, the research indicates that factors such as ethnicity, fluctuations in agricultural production, and the location of the village agricultural waste collection site are all significant determinants of farmers’ engagement in green production practices. The study also identifies significant regional disparities in farmers’ adoption of green production practices. To address the issue of farmers’ low adoption of green production practices, the paper recommends promoting the overall green transformation of the entire agricultural production process. This can be achieved by enhancing farmers’ capital endowment in multiple dimensions and improving their ecological cognition through various channels. Additionally, creating a supportive external environment that aligns with green production practices is deemed critical.publishedVersio

Accounting of public preferences and valuation of terrestrial and aquatic ecosystem services restoration: Evidence from Northwestern China

The emphasis of current study is on the assessment of households’ willingness to pay (WTP) and preference heterogeneity for the upgradation of degraded terrestrial and aquatic ecosystem services across sub-basins of Heihe River. A sum of 1679 households were interviewed through choice experiment, and random parameter logit model is applied for welfare estimation. The estimated results signified the importance of selected terrestrial and aquatic ecological attributes. Sampled respondents of upper and middle basins placed highest WTP for reducing the emission of greenhouse gases among all other attributes and the WTP amount was 99.27 and 66.49 Yuan/Year respectively. Whereas in lower basin, improvement in landscape of farmland was highly valued, i.e., 107 Yuan/Year. In terrestrial ecosystem services the lowest WTP was recorded for Ejinaqi oasis size in all sub basins. In aquatic ecosystem services, improving water quality was the most valued attribute in all sub basins, and the corresponding WTP values are 122.81, 99.87 and 177.43 Yuan/Year in upper, middle and lower basins respectively, which ensure the significance of water quality in the entire basin. In aquatic ecosystem services the lowest WTP amount was recorded for leisure and entertainment conditions in each sub basin.publishedVersio

IMPACT OF MACROECONOMIC VARIABLES ON FINANCIAL PERFORMANCE: EVIDENCE OF AUTOMOBILE ASSEMBLING SECTOR OF PAKISTAN STOCK EXCHANGE

The study examines the macroeconomic variables impact on financial performance, using the financial statement of listed companies in Automobile sector of Pakistan stock exchange. The study covered the period from 2007 to 2016. Before applying the GMM model the preliminary test was done. Firm performance is measured with three ratios i.e., return on assets (ROA), return on equity (ROE) and gross profit margin ratio (GPM). The results revealed that the selected macroeconomics variables have the negative relationship with return on equity, return on assets and gross profit margin and the inflation has positive relation with return on equity and negative relation with return on assets (ROA) and gross profit margin (GPM)

Assessment of Seed Priming Effect on Germination and Cotton Productivity of Two Cotton Varieties in Multan

Background: Cotton is one of the important cash crops for fiber production globally. It is highly sensitive to abiotic stresses such as temperature, drought and salinity resulting in poor seedling germination and emergence leading to a decline in cotton productivity. Seed germination can be improved through physiological techniques mainly seed priming, which is a pre-sowing treatment that enables the seed to germinate more efficiently. Therefore, to assess the effects of seed priming on growth and yield production an in vivo study was performed with two different cotton cultivars (namely, BS-13 and FH-Lalazar).Methods: A field trial was conducted at Multan that comprised six treatments including T1: non-primed seeds (control) and treated seeds such as T2: hydro-priming (water), T3 & T4: hormonal priming (two different concentrations of indole acetic acid) and T5 & T6: halo-priming (two different concentrations of KNO3). The data were collected to evaluate the rate of seed germination, growth and yield of cotton under the effect of seed priming.Results: The study revealed that halo priming treatment with KNO3 enhanced the rate of seed germination by 83% as well as seedling emergence by ~90% in both cotton cultivars. Results showed that seed priming with KNO3 (3 g L-1) had the most promising effect on growth traits up to a variant extent as compared to the control plant. Meanwhile, yield attributes such as the number of cotton bolls and boll weight per plant significantly increased by 45% as compared to non-primed plants. Similarly, priming with KNO3 treatment displayed a significantly high cotton yield by 17% (767 kg ha-1) in both cotton cultivars as compared to their respective control treatment.Conclusion: Current study concluded that seed priming is an efficient and cost-effective technique that plays a vital role in better crop establishment consequently increasing germination rate, plant growth attributes and productivity of the cotton crop.Keywords: Multan; Cotton; Seed germination; Seed priming; Yield; KNO3 

IMPACT OF MACROECONOMIC VARIABLES ON FINANCIAL PERFORMANCE: EVIDENCE OF AUTOMOBILE ASSEMBLING SECTOR OF PAKISTAN STOCK EXCHANGE

The study examines the macroeconomic variables impact on financial performance, using the financial statement of listed companies in Automobile sector of Pakistan stock exchange. The study covered the period from 2007 to 2016. Before applying the GMM model the preliminary test was done. Firm performance is measured with three ratios i.e., return on assets (ROA), return on equity (ROE) and gross profit margin ratio (GPM). The results revealed that the selected macroeconomics variables have the negative relationship with return on equity, return on assets and gross profit margin and the inflation has positive relation with return on equity and negative relation with return on assets (ROA) and gross profit margin (GPM)

Design and Implementation of Real-Time Kitchen Monitoring and Automation System Based on Internet of Things

Automation can now be found in nearly every industry. However, home automation has yet to reach Pakistan. This paper presents an Internet of Things smart kitchen project that includes automation and monitoring. In this project, a system was developed that automatically detects the kitchen temperature. It also monitors the humidity level in the kitchen. This system includes built-in gas detection sensors that detect any gas leaks in the kitchen and notify the user if the gas pressure in the kitchen exceeds a certain level. This system also allows the user to remotely control appliances such as freezers, ovens, and air conditioners using a mobile phone. The user can control gas levels using their phone with this system. In this paper, the ESP32, DHT11 Sensor, 5 V Relay X 8, and MQ-135 gas sensors create a smart kitchen by controlling the temperature, managing humidity, and detecting gas leakage. The system was built on an Arduino board that is connected to the Internet. The hardware was integrated and programmed using an Arduino, and a user Android application was developed. The project’s goal is to allow any Android smartphone to remotely control devices. This method is commonly used in homes, businesses, and grocery stores. Users will be able to control all of their instruments from anywhere, including switches, fans, and lights. Furthermore, simulation was performed using Matlab2016b on multiple houses. In the simulation, not only was the kitchen considered, but also two, four, and six houses. Each house has two bedrooms, one living room, one guest room, two bathrooms, and one kitchen. The results revealed that using this system will have a scientifically significant impact on electricity consumption and cost. In the case of the houses, the cost was USD 33.32, 32.64, 22.32, and 19.54 for unscheduled, two, four, and six houses, respectively. Thus, it was observed that the cost and power are directly proportional to each other. The results reveal that the proposed solution efficiently reduces the cost as compared to that of unscheduled houses.publishedVersio