文章基本信息

标题：Virtual Investment Concepts and the Ethanol Industry
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作者：Siebert, John W. ; Hagerman, Amy D. ; Park, John L. 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2008
卷号：39
期号：11
页码：67-80
出版社：Food Distribution Research Society
摘要：The fast-growing US ethanol industry has historically been characterized by large downstream investments made by farmers. The authors assess the value which the stock market may hold for downstream investment by farmers as well as by ethanol manufacturers themselves. The model framework used herein expands on the original VEST framework developed by Siebert, Jones and Sporleder. A word of caution, the model herein is not intended to provide an on-going, risk-reducing business strategy. However, it can and does provide a quick method to calculate the reasonableness of a downstream investment request that a farmer (or any business person) might be challenged to consider. Although virtual stock market investments may certainly assist in value added performance, they (just like brick and mortar processing plants) can provide no guarantee of performance.
关键词：cooperatives;corn;equities;ethanol;value added