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The Most Important Agri-Culture Risk. The Risk Culture

Author

Listed:
  • Gheorghe HURDUZEU
  • C?t?lin HUIDUMAC
  • Raluca HURDUZEU

Abstract

The paper makes a short review of the agricultural risks in Romania. Through this research we want to rally to the latest concerns in the field worldwide, motivated by several reasons: 1) the role that agriculture plays in the Romanian economy and society; 2) the growing importance of the agricultural risks; 3) high volatility of yields, costs, prices, revenues and losses at farm level generated by these risks; 4) the fact that the risk defined as such, evaluated may constitute an essential element for the businesses in the agriculture; 5) in this context, ‘the risk culture’ with all it stands for, partially substitutes itself to physical crops. A solid culture of risk suposes the farmers’awareness of the sources and manifestations of these risks, and the ways these risks may be properlly managed, with significant effects on the profit of the business.

Suggested Citation

  • Gheorghe HURDUZEU & C?t?lin HUIDUMAC & Raluca HURDUZEU, 2014. "The Most Important Agri-Culture Risk. The Risk Culture," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 413-418, November.
    • Handle: RePEc:rom:mancon:v:8:y:2014:i:1:p:413-418
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    References listed on IDEAS

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    1. Key, Nigel D. & MacDonald, James M., 2006. "Agricultural Contracting Trading Autonomy for Risk Reduction," Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, United States Department of Agriculture, Economic Research Service, pages 1-6, February.
    2. Patrick L. Brockett & Mulong Wang & Chuanhou Yang, 2005. "Weather Derivatives and Weather Risk Management," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 8(1), pages 127-140, March.
    3. Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economic Reports 34081, United States Department of Agriculture, Economic Research Service.
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