Acquisitions - Juin 2015

Publié le :


Exposure to FX Rate Risk A Qualitative Analysis of German Fair Trade Importers

BRENNER, Sebastien ; REMER, Kersten – Lund University (Sweden), School of Economic Management, 2015/05, 79 p. - Site de

Abstract : « The aim of this paper is to investigate the exposure of Fair Trade (FT) importers in Germany, operating based on the principles of the World Fair Trade Organization (WFTO), to foreign exchange (FX) rate risk in the light of the current depreciation of the Euro. The ongoing high volatility of the Euro exchange rate strongly affects Fair Trade companies that import products mostly from developing countries and sell them in the European market. Previous research about hedging foreign exchange risk exposure focused either on large international corporations or on small and medium sized enterprises (SMEs) in terms of their derivative use. However, these studies insufficiently discuss the exposure of micro and small Fair Trade businesses. Their distinctive feature is rooted in the Fair Trade principles such as non-interest bearing pre-financing, lack of pass-through possibilities and Minimum Price. Using a four-stage qualitative research approach, we gained a unique data set conducting semi-structured interviews with CEOs of Fair Trade companies and financial institutions. Thereby, we can make statements about how micro, small and medium sized Fair Trade importers perceive and manage their FX exposure. Furthermore, we investigated how the demand arising from this exposure can be hedged using derivates. Our results suggest that vast majority of Fair Trade importers perceive FX volatility to have a strong impact on their businesses. Moreover, most Fair Trade importers do not know how to deal with currency volatility. We find indication that Fair Trade Importers cannot draw on financial instruments provided by banks since their specific derivative demand is mostly below the invisible line of €50,000. This situation is condensed in the FX exposure framework. Our findings indicate that a possible solution can be achieved by pooling a number of smaller hedging demands into larger tradable batches. « 



Sustainable Fisheries Business in Latin America : Linking in to Global Value Chain

World Journal of Fish, and Marine Sciences, 2015, vol.7, n°3, pp. 175-184 - Site de

Abstract : “During the last two decades cross-sector partnerships between businesses, nongovernmental organisations and scientists have accelerated in attempts to address complex social-ecological challe« nges. These collaborations have been particularly successful in global value chains, such as those of fisheries. A recent development in this field is adding on of social concerns to environmental challenges. This conjunction has widened the scope of sustainability beyond a buzzword.Sustainable fishing in Latin America offers a vehicle for systemically channelling the growing private sector interest in promoting certified sustainable productsand has the potential to build unified sustainable approaches and the economies of scale necessary to bring about meaningful change at the continental level. »



Impacts of smallholder participation in high quality coffee markets : The Relationship Coffee Model

Agecon Search, 2015/07 - Site de

Papier préparatoire pour la rencontre annuelle “Agricultural & Applied Economics Association and Western Agricultural Economics Association" à San Francisco, 2015/07/26-28, 55 p.

Abstract : « The Relationship Coffee Model (RCM) is an emerging business model in the coffee value chain that promotes long-term partnerships between coffee buyers and smallholder growers based on transparency, product quality and value sharing. However, to date,there are limited studies assessing outcomes for the smallholder growers participating in high-quality coffee value chains and specifically in models such as RCM. We developed a framework to examine how geography, environmental conditions , production practices and technology affect coffee quality, and consequently, grower’s ability to participate in RCM. In turn, we evaluated the impact of RCM participation on key environmental, socio-economic, and technological indicators. Using data collected from 265 Colombian smallholder growers , we examined relationships among socio-economic characteristics, soil quality indicators, coffee landscape characteristics, bird populations, and product quality scores. Our estimation based on propensity score matching indicated that RCM participants employ more environment ally-friendly resource management practices have better understanding of the coffee business and are more optimistic about the future of the industry, relative to non-participants. Although farm gate prices did not significantly differ between the two groups, RCM participants had increased access tocredit. Overall, the estimated impacts suggest that RCM contributes to integrate smallholder growers into global-coffee markets and generates socioenvironmental benefits. »



Role of Fair Trade and its Strategic Implications to Organization Decision Making

EZE, Sunday C. ; BELLO, Adenike O. - British Journal of Marketing Studies, 2015, vol. 3, n°4, pp.110-121, 12 p. - Site de

Les auteurs travaillent au Department of Business Studies, Landmark University Omu-Aran Kwara State, Nigeria.

Abstract : "Fair-trade is concerned with ensuring that producers are paid fair wages and that fair prices are charged consumers in a bid to promote equitable trading agreement (shaw et al 2006). This paper investigates recent discourse associated with fair trade particularly clothing companies. It argues for fair trade as a veritable tool for ensuring fair wages and prices but point sout some of the issues concerned with carrying out fair trade activities. This paper was based on secondary data. The findings suggest that despite the relevant rôles fair trade plays, and the high media publicity associated with it, most consumers still find it difficult to recognise fair trade products because of the negative practices and poor promotional efforts with companies. While this paper highlights some of the unethical practices organisations have engaged which impact negatively on fair trade, it suggests some of the remedies especially to organisations that have interest in practicing fair trade in future. The study recommendations that providing certified labelling will enable consumers read and identify fair trade product easily. It also recommends that ensuring adequate corporate social responsibility and quality of the products are way forward."



Viabilidad de una cooperativa exportadora de orito orgánico de pequeños productores en la zona de Bucay–Guayas

NIETO PAREDELES, Cynthia Carolina ; LEON CRESP, María Paula - Universidad Católica de Santiago de Guayaquil (Ecuador) Facultad de Especialidades Empresariales, 2015, 245 p. - Site de

Resumen : « El presente estudio permite conocer la viabilidad para la apertura de una cooperativa no financiera exportadora de orito orgánico basada en las leyes de la “Economía Popular y Solidaria”, en la cual pequeños productores tendrán la oportunidad de negociar directamente sin intermediarios. Se determina los bloques importantes para analizar las diferentes situaciones de procesos legales, datos socioeconómicos, mercado meta y producto. De tal manera se establece la logística de todo el proceso que se implementa en cuanto a certificaciones para el buen manejo del cultivo y comercio justo. Por medio del análisis financiero se reconoció la rentabilidad del proyecto y apuntar a la apertura de actividades. Las conclusiones y recomendaciones más trascendentes se basan en el desarrollo social y comunitario, así mismo como la organización de comercialización. »


Enfoque teórico epistemológico del comercio justo - Caso de estudio Ecuador

CRUZ VILLACRES, Inda Chantal - Universidad Politécnica Salesiana Sede Quito (Ecuador), Administracion de Empresas, 2015, 108 p. - Site de

Resumen : « El principal objetivo de este trabajo de grado ha sido elaborar una investigación del enfoque teórico - epistemológico del Comercio Justo, y comprender el concepto a su vez la aplicación del mismo dentro de la realidad ecuatoriana.La investigación se ha desarrollado a través de consultas bibliográficas, hemerográficas y webgrafía, para determinar que fundamentos y teorías definen el Comercio Justo. El Comercio Justo defiende diez principios a nivel mundial que tienen que ver con mejorar la calidad de vida del ser humano, la sostenibilidad del medio ambiente y mantener un intercambio económico justo, está dirigido a apoyar a los pequeños productores, trabajadores, artesanos, ganaderos, mineros, mediante certificaciones que validen dichos parámetros. En el Ecuador el 1% de las exportaciones no petroleras han sido realizadas con productos de Comercio Justo, no se tienen datos estadísticos registrados y actualizados acerca de este tipo de comercio denominado alternativo en el país, como tampoco no se ha definido una política para regular el mismo. El Ministerio de Comercio Exterior ha liderado la elaboración de una “Estrategia Ecuatoriana de Comercio Justo”, la misma que propone lineamientos que actualmente se encuentran en proceso de implementación para impulsar, regular y controlar este tipo de comercio que está en desarrollo. Se recomienda la asignación de una oficina u órgano estatal o gubernamental que norme y posteriormente regule la implementación de una política de Comercio Justo en el país, difunda sus teorías y apoye en el proceso a todos los beneficiarios. »



Fair Trade and its impact on the purchasing process

BUIS, Martinus ; JOHNSSON, Anna ; THORMANN, Tristan - Linnaeus University (Sweden), Master Thesis, 2015, 45 p. - Site de

Abstract : "The concept of fair trade is not recent following the academic literature as it has been around for many years. The connection between fair trade and how it impacts consumers purchase behaviour however is still unclear. The purpose of this study is to expand understanding on the relationship between fair trade and the consumer purchase process…”


Do labels capture consumers’ actual willingness to pay for Fair Trade characteristics ?

VLAEMINCK, Pieter ; VRANKEN, Liesbet – University of Leuven (Belgium), Division of Bioeconomics, Department of Earth and Environmental Sciences - Bioeconomics Working Paper Series, 2015/5, 24 p. - Site de

Abstract : "Labeling schemes are used as a mechanism to inform consumers about products with both public and private characteristics. Consumers are increasingly interested in the ethical characteristics of food products and are willing to pay the premium for it. Nevertheless, market shares of ethically produced food products remain low. Not much research has been directed towards the question whether labels completely incorporate the ethical characteristics they stand for and are able to convey these values to consumers. Using two, partially incentive compatible, stated choice experiments in a natural consumer environment and chocolate as study object, we are able to compare consumers’ willingness to pay for a Fair Trade label and for the label’s underlying characteristics. Results show that dispersion exists between the value of a Fair Trade label and the actual values consumers attach to the underlying characteristics of Fair Trade."