Introduction: Increasing usage of chemical fertilizers imposes irreparable damages to the environment. Disadvantages of chemical fertilizers has led to more attention to the application of organic ...fertilizers and manures. The use of organic fertilizers and livestock, especially in nutrient poor soils, it is necessary to maintain soil quality. Plant growth promoting rhizobacteria (PGPR) occupy the rhizosphere of many plant species and have beneficial effects on the host plant. They may influence the plant in a direct or indirect manner. A direct mechanism would be to increase plant growth by supplying the plant with nutrients and hormones. Indirect mechanisms on the otherhand, include, reduced susceptibility to diseases, and activing a form of defese referred to as induces systematic resistance. Examples of bacteria which have been found to enhance plant growth, include Pseudomonas, Enterobacter and Arthrobacter. Biofertilizers contain organic compounds that increase soil fertility either directly or as a result of their decay (9, 10). Tomato (Lycopersicon esculentum L.) belongs to the nightshade family, Solanaceae. The plant typically grow 1-3 meters in height and a weak stem. It is a perennial in its native habitat, although often grown outdoors in temperate climates as an annual. An average common tomato weighs approximately 100 grams. Tomatoes contain the carotene lycopene, one of the most powerful natural antioxidants. In some studies, lycopene, especially in cooked tomatoes, has been found to help prevent prostate cancer. Lycopene has also been shown to improve the skin’s ability to protect against harmful UV rays. Tomatoes might help in managing human neurodegenerative diseases. The lycopene has no effect on the risk of developing diabetes, but may help relieve the oxidative stress of people who already have diabetes. The purpose of this study was the possibility of replacing chemical fertilizers with biofertilizers, reducing production costs and increasing product quality. Materials and Methods: In order to study the effects of different fertilizers on the quantity and quality characteristics of tomato (Lycopersicon esculentum Mill.), a split plot experiment based on RCBD design with three replications was conducted in 2009-10 growing season in research farm of Ferdowsi University of Mashhad, Iran. Two levels of poultry manure (zero and 20 ton ha-1) and five different fertilizers (nitroxin (A), phosphate solubizing bacteria (B), A+B, nitrogen and phosphorous chemical fertilizers and control) were considered as the main and sub factors, respectively. Studied traits were fruit number and weight per plant, total yield, marketable yield, spad number, brix index, c vitamin and lycopene content. Results and Discussion: The results showed that poultry manure increased total yield of tomato compared with control. Chemical fertilizers led to the production of highest total yield. Biophosphorous+nitroxin and biophosphorous increased marketable yield by 17 and 11 percent compared to control, respectively. The highest and the lowest contents of vitamin C were observed in nitroxin and chemical fertilizer, respectively. Biofertilizers and chemical fertilizers increased lycopene content compared with control, so that the maximum content of lycopene was obtained in the biophosphorous with 2.38 mg per 100 g sample, Also, the fruit yield of tomato was more in the first stage of harvesting rather than the second stage. It seems organic fertilizers and biofertilizers increased morphological characteristics and yield of tomato due to provide better conditions to absorption and transportation of nutrient to the plant. It has been reported that this ecological inputs provide favorable conditions for plant growth and development through improvement of physical, chemical and biological properties of the soil, therefore, it can be concluded that improvement of most of studied traits in the present study were due to use of organic fertilizers and biofertilizers. Conclusions: The cost of this study has been funded by Research and Technology Deputy of Ferdowsi University of Mashhad, Faculty of agriculture, the financial supports is appreciated.
A long-term field experiment was conducted with an annual rotation of tomato–radish–pakchoi to assess the effects of a commercial organic manure (COM) used as a partial substitute for chemical ...fertilizers on crop yield and nutrient balance in an intensive vegetable cropping system. Four treatments as chemical fertilizers (T1), chemical fertilizers
+
lower rate of COM (T2), chemical fertilizers
+
medium rate of COM (T3), and chemical fertilizers
+
high rate of COM (T4) were designed in the present experiment. The supplied doses of N, P, and K were equal for all treatments. Results showed that there were no significant differences in shoot biomass and market yields of tomato, radish and pakchoi among treatments (
P
>
0.05). It was found that positive P and K balance existed in the tomato–radish–pakchoi cropping system of all treatments. Compared with no manure treatment (T1), application of medium rate of COM (T3) decreased N, P runoff losses, increased N, P, K contents in crop tissues except N, P in pakchoi shoot, and lessened P, K accumulation in soils, accordingly, improved the efficiency of macronutrient. It was concluded that appropriate COM used as a partial substitute for chemical fertilizers could not only meet the crops’ nutrient requirement, but also improved the efficiency of macronutrient and remained positive balance of P and K in the intensive tomato–radish–pakchoi cropping system, which can be regarded as an effective measure for a contribution towards sustainable agriculture and a control pathway for reducing the potential risk of castoff to water environment.
This article is a literature review that discusses the articles of financial experts who popularized the method of calculating expected portfolio returns using economic factors that are considered to ...have an influence on the value of the portfolio greater than or equal to the influence exerted by market indices. The calculation method described in this study is an extension of the CAPM model introduced by Sharpe, Treynor, and Lintner in the 1960s. This article discusses starting from the method of Arbitrage Pricing Theory introduced by Ross in 1976, and the economic factors that become variables in the calculation of Arbitrage Pricing Theory proposed by NF. Chen, Roll, and Ross in 1986. then explained the calculation model Fama and French 3 Factor Model introduced in 1992, then Carhart 4 Factor Model which is an expansion of FF3FM, Pator-Stambaugh Model introduced by Lubos Pastor and Robert F. Stambaugh in 2001, and finally discusses the calculation model Fama and French Five Factor Model introduced in 2014 which is an expansion of FF3FM
Purpose - This paper discusses how to choose a measure or set of measures for the purposes of evaluating and rewarding general managers' performances. Design/methodology/approach - The paper ...describes a set of criteria that is useful for evaluating any measure or set of measures. Then it applies the criteria to an evaluation of three measurement alternatives in common use at general management organization levels: market measures, accounting measures, and combinations of measures. Findings - The paper shows that all of the measurement alternatives fail to satisfy one or more of the evaluation criteria and, hence, lead to less than optimal outcomes. But it also shows that some alternatives are better than others in specific situations. Originality/value - While comprehensive sets of evaluation criteria have been applied to financial accounting choice issues, this is the first such approach in management accounting. This approach can lead to improved performance measurement system choices. It can also be used to guide future research because the analysis also reveals major gaps in our knowledge about the qualities of performance measures in common use.
Banks have to be handled differently in the theory of corporate evaluation. After a critical discussion of existing approaches of corporate evaluation, the following results can be stated: As banks ...generate value by an efficient liability side, gross methods do not lead to reliable results concerning a bank’s value. Further, the effects of maturity transformation have to be separated as they do not increase the value of banks. The model developed by the author takes these aspects into consideration. By an integrated usage of the market interest rate method and the usage of secure cash flows, the CAPM approach could be avoided. The model separates the treasury effects and quantifies the value of a bank in a more realistic way. The first empirical test shows that the model works in practice.
We analyze the joint impact of country, regional and global market risks on daily changes in yield spreads of Mexico, Colombia and Brazil. In contrast to previous studies, we consider a homogenous ...set of liquid Eurobonds which are representative of current emerging bond markets. All risk-factor groups are significant but country-specific differences exist. Spread changes of all three countries are mainly driven by global risk. The second most important contributor to spread changes is country risk for Mexico and Brazil but regional risk for Colombia. The sensitivity of spread changes to risk factors varies with bond maturity.
Purpose - The purpose of this paper is to reexamine the value, momentum and size factors employed in the trading strategy originally proposed by Reinganum. Also to enhance our understanding of the ...impact of these factors over time; to evaluate the effectiveness of these factors; to develop new strategies through a framework presented by Chan et al.; and to investigate the possibility of limiting the number of filters to allow for a larger universe of eligible stocks without hurting performance for both long and short strategies.Design methodology approach - Using data from 1970 to 1983, Reinganum developed a profitable trading strategy based on four (or nine) variables to select stocks. First this paper shows why it is increasingly difficult to implement his original trading strategy, then tests his strategy on 23 additional years of data through 2006, and compares it to similar strategies that incorporate straightforward modifications to his filters. The analysis is further extended to a long short trading strategy similar to that of Chan et al.Findings - Using the Capital Asset Pricing Model, Fama-French's three-factor model and Carhart's four-factor model to evaluate returns following portfolio formation, significant and consistent alphas and portfolio sizes were found.Research limitations implications - It is concluded that strategies that mix value, momentum and size filter rules can be developed to produce consistently negative or non-positive (vs solely positive) alphas.Originality value - The paper shows that it is possible to form profitable short-only and long short strategies and to increase the number of eligible stocks in the sample despite our modifications to Reinganum's variables. By creating strategies based on mixed filter rules to produce either consistently positive (or negative) risk-adjusted returns, it can be concluded that slightly different versions of a given filter rule - often much simpler versions - not only enhance return performance but also increase its effectiveness in terms of portfolio size.
Purpose - This paper discusses how to choose a measure or set of measures for the purposes of evaluating and rewarding general managers' performances.Design methodology approach - The paper describes ...a set of criteria that is useful for evaluating any measure or set of measures. Then it applies the criteria to an evaluation of three measurement alternatives in common use at general management organization levels: market measures, accounting measures, and combinations of measures.Findings - The paper shows that all of the measurement alternatives fail to satisfy one or more of the evaluation criteria and, hence, lead to less than optimal outcomes. But it also shows that some alternatives are better than others in specific situations.Originality value - While comprehensive sets of evaluation criteria have been applied to financial accounting choice issues, this is the first such approach in management accounting. This approach can lead to improved performance measurement system choices. It can also be used to guide future research because the analysis also reveals major gaps in our knowledge about the qualities of performance measures in common use.
Purpose
The purpose of this paper is to reexamine the value, momentum and size factors employed in the trading strategy originally proposed by Reinganum. Also to enhance our understanding of the ...impact of these factors over time; to evaluate the effectiveness of these factors; to develop new strategies through a framework presented by Chan
et al.
; and to investigate the possibility of limiting the number of filters to allow for a larger universe of eligible stocks without hurting performance for both long and short strategies.
Design/methodology/approach
Using data from 1970 to 1983, Reinganum developed a profitable trading strategy based on four (or nine) variables to select stocks. First this paper shows why it is increasingly difficult to implement his original trading strategy, then tests his strategy on 23 additional years of data through 2006, and compares it to similar strategies that incorporate straightforward modifications to his filters. The analysis is further extended to a long/short trading strategy similar to that of Chan
et al.
Findings
Using the Capital Asset Pricing Model, Fama‐French's three‐factor model and Carhart's four‐factor model to evaluate returns following portfolio formation, significant and consistent alphas and portfolio sizes were found.
Research limitations/implications
It is concluded that strategies that mix value, momentum and size filter rules can be developed to produce consistently negative or non‐positive (vs solely positive) alphas.
Originality/value
The paper shows that it is possible to form profitable short‐only and long/short strategies and to increase the number of eligible stocks in the sample despite our modifications to Reinganum's variables. By creating strategies based on mixed filter rules to produce either consistently positive (or negative) risk‐adjusted returns, it can be concluded that slightly different versions of a given filter rule – often much simpler versions – not only enhance return performance but also increase its effectiveness in terms of portfolio size.
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