Thesis (MScAgric)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: The objective of this study was to consider whether smallholders operate within homogenous or differentiated farming systems i.e. a similar “‘one type”’ system or a system that could be described as a smallholder typology consisting of a number of farming types. The enquiry firstly described and analysed farm diversity and then developed risk attitude profiles of smallholder farmers in the Stellenbosch local municipal area in the Western Cape province of South Africa. The problem statements, directing this study is that there is a general misconception that smallholders are all “‘the same’” and that they all operate within one ‘“representative farming model”’; and that the majority of smallholders are risk averse. These views also argue that all smallholder farmers are not primarily directed at profit objectives, but that social considerations are most relevant and that different social orientations are shaping farming systems. These views are investigated in this study and the hypotheses directing this analysis is that smallholders in the study area are not a homogenous group; rather types within a broader farming typology, with different orientations and objectives and with different risk attitude profiles. The study originated as part of an international collaborative investigation – the South African Agrarian Diagnoses project, a joint research project of the Agro Paris Tech/Agence Francaise de Development, the Standard Bank Centre for Agribusiness Development and Leadership, Stellenbosch University and the University of Pretoria in to farmer diversity and farmer typologies in South Africa. This investigation looked at smallholder farming in different agrogeographical areas in South Africa, with this particular study focussing on potential smallholder farmer diversity in the Stellenbosch local municipal area. The Stellenbosch local municipality and Western Cape Department of Agriculture provided logistical support, information to this investigation and participated in focus group sessions. Smallholder activity in this study was defined to include both small scale farming activities and the mobilisation of smallholders/farm workers in so-called ‘“farm worker equity schemes’” – a type not included in the other regions. Data was collected from eight smallholders’ farming communities and the four different farm workers’ equity share schemes through surveys and interviews. The following towns and hamlets: Franschhoek, Kylemore, Lanquedoc (Herbal View and Spier Corridor), Pniel, Jamestown, Raithby, Lynedoch and Koelenhof; and four farm workers’ equity share schemes were: Swartrivier vineyard project, Koopmanskloof vineyard project, Enaleni Trust and Poker Hill vineyard project. Personal interviews and focus group discussions were conducted and cluster analysis was used for the diversity (typology) analysis and the Likert scale was employed to measure risk attitude profiles. A non-probability sampling approach was used to select a sample size of 49 respondents. The reason for using non-probability sampling technique was that when one wants to do the diversity analysis, one must try to include many respondents in the sample and the farmers that are included must be representative of the population from which they are selected. The variables selected as determinants of farm diversity included information about: demographics and households, land ownership and occupation, farming activities, farming objectives, agricultural inputs, labour, equipment, farming constraints, access to markets, financial support services, educational and training services, extension services and reasons for quitting farming activities. From this, different farming types and typologies were identified, described and structured. Preference indications for different risk management strategies were then used to measure and describe the risk attitudes of different types of smallholder farmers using the Likert risk attitudinal scale. The results and findings confirmed the study hypotheses relating to diversity in smallholder farming in the target area, namely that smallholders in this geographical area are not a homogenous group and rejects the stated hypotheses that most smallholder farmers are risk averse. A Stellenbosch smallholder typology, with six different farming types were established viz: type 1 – farmland-occupying but non-farming households (10.2% of the sample), type 2 – pensioner – livestock farmers (16.3% of the sample), type 3 – part-time cattle farmers (14.3% of the sample), type 4 – commercial equity share farmers (16.3% of the sample), type 5 – retirement planning crop producers (20.4% of the sample), and type 6 – commercial crop producers (22.5% of the sample). With regard to risk profiles, risk attitudes varied between these types and also within each type, hence risk attitudes for smallholders are also not found to be similar. The results revealed that those smallholder farmers moving on a development path towards commercial agriculture (types 4, 5 and 6) were risk preferring; less commercially orientated farm types (types 1, 2 and 3), showed risk averse and risk neutral orientations. The risk profile percentages of farmers interviewed were 43.2%, 34.1% and 22.7%, respectively for risk preferring, risk neutral and risk averse; this finding rejects the stated hypotheses. From these results, a number of issues, relevant to development support programmes, were proposed for further agricultural economic research. The most important of these are related to: appropriate development support strategies related to farm types and the potential development paths for each type; and the structuring of appropriate ‘“risk management instruments”’ for each type, in particular to support smallholder farmers; with a development trajectory towards commercial farming, i.e. to support emerging commercial farmers – an important category of farming listed in current government policy and in the National Development Plan. / AFRIKAANSE OPSOMMING: Die doelwit van hierdie studie was om ondersoek in te stel na die tipe kleinboere-stelsel (smallholder farming systems) wat voorkom in die Stellenbosch munisipale gebied in die WesKaap provinsie van Suid Afrika en die eenvormigheid al dan nie daarvan te ontleed. Eerstens is plaasdiversiteit ondersoek en ontleed; en daarna die risikohoudings van sondagie kleinboere. Die ontledings is dan gebruik om uitspraak te gee oor die eenvormigheid of diversiteit van kleinboerestelsels in die geogafiese gebied. Die probleemstelling wat hierdie studie gerig het, was dat daar ’n algehele wanbegrip mag bestaan dat kleinboere almal “dieselfde” is, of binne n ‘“eenvormige verteenwoordigende boerderymodel”’ funksioneer; en dat, gekoppel hieraan, die meerderheid kleinboere risikoafkerig is. Hierdie sienings hou ook voor dat alle kleinboere nie noodwendig op winsdoelwitte fokus nie, maar dat maatskaplike oorwegings ook relevant is en dat verskillende oriëntasies boerderystelsels vorm. Hierdie sienings word in hierdie studie ondersoek en die hipotese wat die analise rig, is dat die kleinboere in die studie nie ’n eenvormige of homogene groep is nie, eerder verskillende soorte/tipes kleinboere met verskillende oriëntasies en doelwitte en dus ook met verskillende risikohoudings. Die studie het sy oorsprong as deel van ’n internasionale samewerkende ondersoek – die South African Agrarian Diagnoses-projek van die Agro Paris Tech/Agence Francaise de Development, die Standard Bank Sentrum vir Agribesigheidsontwikkeling en Leierskap, Universiteit van Stellenbosch endie Universiteit van Pretoria oor die diversiteit en tipologieë van kleinboere in Suid Afrika. Hierdie ondersoek het gekyk na verskillende agro-geologiese gebiede in SuidAfrika, met hierdie studie wat gefokus het op die potensiële diversiteit van boere in die Stellenbosse plaaslike munisipale gebied. Die Stellenbosche Munisipaliteit en Departement van Landbou in die Wes Kaap het ondersteunend gestaan met logistiek en deelname aan fokusgroep gesprekke. Kleinboeraktiwiteit in hierdie studie is gedefinieer om beide kleinskaalse boerderyaktiwiteite op klein grond persele, as ook die mobilisering van kleinboere/plaaswerkers in sogenaamde gedeelde boerdery - eienaarskapskemas in te sluit – n unieke tipe wat nie in die ander streke ondersoek is nie.. Data is vanuit agt kleinboergemeenskappe en die vier verskillende gedeelde eienaarskapskemas vir plaaswerkers deur middel van opnames en onderhoude bekom. Die boerderygemeenskappe was in die volgende dorpe en klein dorpies gevestig: Franschhoek, Kylemore, Lanquedoc (Herbal View en Spier Corridor), Pniel, Jamestown, Raithby, Lynedoch en Koelenhof; en die vier gedeelde eienaarskapskemas vir plaaswerkers was: die Swartrivier wingerdprojek, die Koopmanskloof wingerdprojek, Enaleni Trust en die Poker Hill wingerdprojek. Persoonlike onderhoude en fokusgroepbesprekings is gehou en cluster analise is gebruik vir die diversiteit (tipologie) analise en die Likertskaal is gebruik risiko houding profiele te meet. 'N niewaarskynlikheidsteekproefneming benadering is gebruik om 'n steekproefgrootte van 49 respondente te kies. Die rede vir die gebruik van nie-waarskynlikheidsteekproefneming tegniek was dat wanneer 'n mens die diversiteit ontleding te doen, moet 'n mens probeer om soveel respondente in die monster en die boere wat ingesluit is, moet verteenwoordigend van die bevolking waaruit hulle gekies word om te sluit. Onderhoude is gedoen met sulke kleinboere en trosanalise is gebruik vir die analise van diversiteit (tipologie), en die Likert-skaal is gebruik om risikohoudingsprofiele te meet. Die veranderlikes wat as determinante van plaasdiversiteit gekies is, het inligting oor demografie en huishoudings, grondeienaarskap en -besetting, boerderyaktiwiteite, boerderydoelwitte, landboukundige insette, arbeid, toerusting, boerderybeperkings, marktoegang, finansiële ondersteuningsdienste, opvoedkundige en opleidingsdienste, uitbreidingsdienste en redes hoekom boerdery laat vaar is, ingesluit. Hieruit is verskillende boerderytipes geïdentifiseer en gekonstrueer. Voorkeure opsies vir verskillende risikobestuurstrategieë is gebruik om die risikohoudings van die deur middel van die Likert risikohoudingskaal te meet. Die resultate van hierdie studie het die hipotese oor die aanwesigheid van diversiteit bevestig, naamlik dat kleinboere in hierdie geografiese gebied nie ’n homogene groep is nie n verwerp die gestelde hipoteses dat die meeste kleinboere is risiko-sku. ’n Stellenbosch-tipologie, bestaande uit ses verskillende boerderytipes, is vasgestel: tipe 1 – huishoudings wat nie boer nie maar wat op landbougrond woon (10.2% van die monster), tipe 2 – pensioenaris-veeboere (16.3% van die monster), tipe 3 – deeltydse veeboere (14.3% van die monster), tipe 4 – kommersiële gedeelde eienaarskapskema boere (16.3% van die monster), tipe 5 – gewasprodusente wat aftrede beplan (20.4% van die monster), en tipe 6 – kommersiële gewasprodusente (22.5% van die monster). Met betrekking tot risikoprofiele het risikohoudings tussen die tipes en ook binne elke tipe gewissel, dus is die risikohoudings van kleinboere ook nie gevind om dieselfde te wees nie. Die resultate toon dat kleinboere wat in die rigting van kommersiële landbou beweeg (tipes 4, 5 en 6) risiko-voorkeurend is; daarenteen het minder kommersieel gerigte plaastipes (tipes 1, 2 en 3)risiko-afkerige en risiko-neutrale instellings getoon. In die geheel was die persentasies 43,2%, 34.1% en 22.7% vir risiko-voorkeurend, risiko-neutraal en risiko-afkerig onderskeidelik, wat ook die diversiteitshipotese ondersteun. Vanuit hierdie bevindings word ’n aantal kwessies wat relevant is vir ontwikkelingsondersteuningsprogramme vir kleinboere op verskillende ontwikkelingstrajekte, voorgestel vie verder elandbou ekonomiese navorsing. Die belangrikste hiervan hou verband met die aangewese ontwikkelingstrajekte per kleinboer tipe en daarmeegepaardgaande gepaste “risikobestuurinstrumente” – veral vir die ondersteuning van kleinboere met ’n ontwikkelingstrajek na kommersiële boerdery, m.a.w. opkomende kommersiële boere – ’n belangrike boerderykategorie wat in huidige regeringsbeleid en in die Nasionale Ontwikkelingsplan geprioritiseer word.

Graduation date: 1986

Thesis (Ph. D.)--Washington State University, 2005. / Includes bibliographical references. Available online via the WSU Dissertations Web Site.

Thesis (Ph.D.)--University of Western Sydney, Hawkesbury, 2001. / A thesis submitted to the Faculty of Environmental Management and Agriculture, University of Western Sydney, in fulfilment of the rquirements for the degree of Doctor of Philosophy, 2001. Bibliography : p. 252-276.

Thesis (Ph. D.)--Washington State University, 2005. / Includes bibliographical references.

A risk analysis approach for farm work-related injuries was proposed. For this study, risk is defined as the Expected Injury Cost (EIC) index per farm worker per year. Four steps are involved in the risk assessment analysis of farm injuries: (1) determination of risk factors, (2) injury severity classification, (3) cost estimation, and (4) risk characterization. Farm variables were examined to determine their influences on the rates of occurrence as well as the severity of injuries. Farm injuries were correlated with the risk factors of employment status, gender of farm worker, age of farm worker, hours of exposure, type of agricultural operation, and various hazardous conditions on a farm. By combining the probability of injuries due to a particular risk factor with the estimated costs of injuries, the EIC indices were derived for farm workers and activities. Agricultural safety education and research priorities were defined based upon the risk model developed in this study. A sensitivity analysis was conducted to determine the impact of the assumptions on the research priorities established. It was found that the research priorities were not affected by the uncertainty on the magnitude of injury costs and other variables used in this study. The risk-based approach can also provide input to farm insurance ratings. By combining the EIC index for each worker with the number of workers employed on a farm, a composite risk factor could be obtained for the farm enterprise. This composite risk factor can be used as a basis for adjusting farm insurance premiums. Adjustment of insurance premiums or related benefits could be used as an economic incentive to encourage adoption of safer farming practices so that preventable farm accidents and human suffering can be reduced. Other potential applications of the risk model presented in this study include safety management and loss control for a farm enterprise, and serving as a guide for the systematic collection of farm injury data. / Ph. D.

"November 2002." Bibliography: leaves 73-80. Identifies main sources of farming risk in the Upper Eyre Peninsula as climate variability and financial risk. Finds that farmers manage risk by having high equity and off-farm investment, using gross margin analysis, having farm management deposits, diversifying varieties, minimizing tillage, relying on experts for grain marketing and keeping stock for high price periods.

Thesis (MBA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: This study evaluates the use of information technology as a method to reduce production risk for irrigated potatoes. Risk in agriculture is discussed under climatic, market or price and production related risk. Production related risk covers the disciplines of planting, irrigation, fertilisation, disease and pest control as well as harvesting. It is in the above mentioned disciplines that information technology could possible be applied to reduce production risk in irrigated potatoes. The nature of this study can therefor be described as the investigation of the economic justification of information technology as a method to reduce production risk in irrigated potatoes. A brief introduction to put potato production in world and South African context into perspective, is provided. In South African context the importance and position of potato production relative to other crops is discussed. To better understand the economic conditions, under which potatoes are produced in South Africa, a financial breakdown of production cost for irrigated potatoes over regions is given. It is important to understand the economics of potato production before a proper assessment of thepossible benefits of information technology can be made. Various principles and instruments involved with information technology, as it applies to potato production under irrigation are also discussed. Irrigation scheduling as a discipline in which information technology can be applied, is also discussed. It is important to understand that irrigation scheduling can be based on two underlying principles, i.e. atmospheric modelling and soil moisture measurement. Various examples of measurement instruments are discussed. Climatic based disease modelling and petiole sampling as a method to determine nutritional status in the potato plant, was also discussed. A brief discussion of computerised agriculture management software was included to conclude the discussion on the principles and instruments available for information technology in irrigated potato production. The use of fertiliser scheduling, irrigation scheduling and climatic modelling to reduce fungal diseases in potatoes, as information technology methods, are explained in greater detail. It is shown that recommended levels for various nutrients do exist and that petiole analysis as a method to determine these levels at various growth stages, can be applied successfully. It is further argued that with various methods of irrigation scheduling, proper decision making about the amount and timing of irrigation needed, can be possible. The Plant-Plus system as a method to better control Late Blight on potatoes, is discussed. The results obtained through a commercial trial proves the validity of climatic modelling as a method of information technology to reduce production risk on potatoes, specifically the risk associated with Late Blight. The existence of and results obtained through the equipment and methods previuosly mentioned, raises the question of the economic viability of information technology at farm level. To investigate the perception of growers with regard to the applicability of information technology to reduce production risk and their readiness to adopt such . -- technology, a questionnaire was sent to 40 commercial potato growers throughout South Africa. Growers were tested on their perception with regard to the use of information technology on aspects such as financial management, irrigation scheduling, fertilisation, climatic measurement for fungal modelling as well as a profile analysis of the grower. The results of the survey are tabulated and analysed. Growers were on average positive about the value of information technology and indicated that under certain conditions, they were prepared to implement such technology. Margins in commercial potato production are under severe pressure and are in fact shrinking. Case studies presented in this investigation and results from the pilot survey indicate that the use of information technology is not only important for the reduction of risk in potato production but also imperative for sustainable and profitable potato production. It can therefore be concluded that, based on the results obtained in the pilot questionnaire, a statistical valid sample would probably support the findings in the pilot study. The pilot study indicated that reliable, affordable and practical information technology, as it has been presented in this investigation, does have a place in modern day irrigated potato production. / AFRIKAANSE OPSOMMING: Hierdie studie evalueer die gebruik van informasie tegnologie as 'n metode om produksie risiko in die verbouing van aartappels onder besproeiing, te verminder. Risiko in landbou word onder klimatologiese, mark of prys en produksie verwante risiko bespreek. Produksie verwante risiko kan weer onderverdeel word in risiko wat verband hou met plant of vestiging, besproeiing, bemesting, plaag en pes beheer asook oes. Dit is dan in die bogenoemde dissiplines waar informasie tegnologie moontlik aangewend kan word om produksie verwante risiko te verminder. Die kern van hierdie ondersoek kan gevolglik saamgevat word as 'n ondersoek na die ekonomiese regverdigbaarheid van informasie tegnologie as 'n metode om produksierisiko in die verbouing van aartappels onder besproeiing, te verminder. Daar word kortliks verwys na aartappel verbouing in wêreld en Suid Afrikaanse konteks. In Suid Afrikaanse konteks is die relatiewe belangrikheid van aartappelverbouing in vergelyking met ander gewasse uitgelig. Ten einde 'n beter begrip vir die ekonomiese omstandighede waaronder aartappels in Suid Afrika verbou word, word 'n afbraak van produksiekoste oor streke verskaf Dit is belangrik om die ekonomie van aartappelproduksie te verstaan voordat 'n deeglike evaluering van die moontlike voordele wat informasie tegnologie kan inhou, onderneem kan word. Verskeie beginsels en instrumente in die aanwending van informasie tegnologie, soos van toepassing in die verbouing van aartappels onder besproeiing, word ook toegelig. Hieronder word besproeiingskedulering as 'n metode bespreek. Dit is verder belangrik om te besef dat besproeiingskedulering op hoofsaaklik twee beginsels berus naamlik atmosferiese modellering en fisiese grondvog meting. Verskeie voorbeelde van meetinstrumente word bespreek. Klimatologiese siektemodellering en petioolontledings as 'n metode om die voedingstatus van aartappelplante te bepaal, word ook bespreek. Die gebruik van bemestingskedulering, besproeiingskedulering en klimatologiese modellering vir die beheer van laatroes op aartappels, as metodes van informasie tegnologie, word in groter besonderhede toegelig. Daar is aangetoon dat aanbevole peile vir verskeie nutriënte bestaan. Deur die neem van gereelde petiool ontledings kan hierdie peile suksesvol gedurende die opeenvolgende fenologiese stadia van die aartappelplant, gehandhaaf word. Daar is verder aangevoer dat deur die gebruik van verskeie metodes van besproeiingskedulering, deeglike besluitneming rakende die hoeveelheid en tydsberekening van 'n besproeiing, moontlik is. Die Plant-Plus sisteem as 'n metode om laatroes op aartappels te beheer, is toegelig. Resultate behaal in 'n kommersiële aanplanting het die geldigheid van klimatologiese modellering as 'n metode om produksierisiko - veral die risiko geassosieer met laatroes - te verminder, onderskryf. Die bestaan van resultate en instrumente soos voorgehou in Hoofstukke 3 en 4, onderskryf of bevestig die vermoede dat informasie tegnologie wel aangewend kan word om produksierisiko in aartappelverbouing te verminder. Die vraag is egter of dit ekonomies op plaasvlak aangewend kan word. Ten einde die persepsie met betrekking tot - die toepaslikheid en gereedheid van produsente in dié verband te evalueer, is 'n loodsvraelys na 40 respondente, wat die kommersiële aartappelprodusente regdeur Suid Afrika verteenwoordig, gestuur. Respondente is ge-evalueer met betrekking tot hul persepsie rakende die gebruik van informasie tegnologie in die dissiplines van finansiële bestuur, besproeiingskedulering, nutriëntskedulering en klimatologiese modellering vir die beheer van laatroes. Respondente was oor die algemeen positief met betrekking tot die nut van informasie tegnologie en dat onder seker voorwaardes, hulle dit sal gebruik. Marges in kommersiële aartappelverbouing is onder ernstige druk en is inderdaad besig om te krimp. Gevallestudies wat in hierdie ondersoek voorgehou is, asook resultate verkry uit die vraelys, dui aan dat informasie tegnologie nie alleen belangrik is vir die vermindering van risiko in aartappelverbouing me, maar ook noodsaaklik IS vir volhoubare en winsgewende aartappelproduksie. Dit kan gevolglik gestel word dat resultate verkry uit die loodsvraelys, daarop mag dui dat 'n statisties verifieerbare steekproef moontlik kan uitwys dat betroubare, bekostigbare en praktiese informasie tegnologie, soos voorgehou in hierdie ondersoek, wel 'n bestaansreg in die moderne verbouing van aartappels onder besproeiing het.

On t.p.: Masters of Agricultural management. / Thesis (MAgricAdmin)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: The need to take account of risk in agriculture must be part of every decision taken in agriculture. Yet risk is nothing to be too afraid of Risk is a choice rather than a fate. The actions we dare to take, which depend on how free we are to make choices, are what the theory of risk is all about. The task is rather to manage risk effectively, within the capacity of the farmer, business or group in order to withstand adverse outcomes. Some methods of managing risks are feasible for all types of farms. Others are only feasible for certain sizes and types of farms. Therefore, farmers in general need a systematic technique that will enable them to choose an efficient investment strategy from among all feasible strategies. Specifically, given n risky assets (such as the different enterprises in the PaarlIBerg River region), it is essential to seek a diversification strategy which yields a portfolio lying on the efficient frontier. The research question was whether different diversification models (Markowitz diversification model, Single Index Model and the Capital Asset Pricing Model) that are normally applied in capital markets for the construction of optimal diversified portfolios consisting out of different shares, are also applicable on risky portfolios in agriculture comprising different enterprises in the PaarlIBerg River region. The efficient frontier can be seen as the graphical representation of a set of portfolios that maximize expected return for each level of portfolio risk. The Microsoft Excel portfolio optimiser (SOLVER) programme was used to illustrate the investment proportions, expected returns, and standard deviations of the portfolios ofthe efficient frontier. The Single Index Model (SIM) can be used as an alternative to Markowitz diversification model. It drastically reduces the number of parameters needed to be estimated and yields the efficient set relatively easily without the technical difficulties characterising the fullrank solution. However, if the SIM assumptions are in contradiction to the actual data, the simplification of the calculations is achieved at the cost of getting imprecise results. The simplicity of SIM calculations was attained at a cost of constructing a sub-optimal portfolio, which does not lie on the corresponding efficient frontier. The Capital Asset Pricing Model (CAPM) reveals that there is a great deal of systematic risk in relation to the portfolio enclosed in this study. By using the CAPM it is possible to determine which part of the risk the producer can control (non-systematic risk) and which part the producer has no control over (systematic risk). The proportions of systematic risk that can be diversified away are small, relative to the total risk of the Farm Sector Portfolio. The success of these models depends on the efficiency of the market, as weU as a large, up-to-date and reliable data source. Many younger cultivars could not be included in this study, due to the limited availability of data. In the next few years as data become available, it will be possible to construct efficient frontiers out of a wider range of enterprises. Different enterprises and cultivars will increase the number of alternative uses for natural resources in the PaarlIBerg River region through diversification. This will result in more choices for the farmer, and more flexibility in the decision-making process. Without reliable data, the result will be "garbage in, garbage out." / AFRIKAANSE OPSOMMING: In elke besluit wat geneem word in landbou moet risiko as 'n faktor in ag geneem word. Tog is risiko nie iets om te vrees nie. Dit is eerder keuse as noodlot. Die stappe wat ons waag om te neem, wat afhang van hoe vry ons is om keuses te maak, is waaroor die teorie van risiko gaan. Die doel van die tesis is om risiko effektief te bestuur binne die vermoëns van die boer om sodoende negatiewe resultate die hoof te bied Sommige metodes van risikobestuur is lewensvatbaar vir alle soorte plase. Ander is slegs lewensvatbaar vir sekere groottes en tipes plase. Daarom benodig boere in die algemeen 'n tegniek wat dit vir hulle moontlik maak om 'n effektiewe beleggingstrategie te kies uit die verskillende uitvoerbare strategiee. Gegewe n as riskante aktiwiteite (soos die verskillende gewasse in die PaarllBergrivierstreek) is dit noodsaaklik om 'n diversifiseringstrategie te vind wat 'n portefeulje sal lewer wat raak aan die effektiewe grens. Die navorsingsvraag was of verskillende diversifiseringsmodelle (Markowitz diversifiseringsmodel (MVC), "Single Index Model" (SIM) en die "Capital Asset Pricing Model" (CAPM)) wat gewoonlik toegepas word in kapitaalmarkte vir die samestelling van optimale gediversifiseerde portefeuljes bestaande uit verskillende aandele, ook van toepassing sal wees op riskante portefeuljes in die landbou in die PaarlJBergrivierstreek, wat verskillende gewasse insluit. Die effektiewe grens kan gesien word as die grafiese voorstelling van 'n stel portefeuljes wat die verwagte winste vir elke vlak van portefeuljerisiko vermeerder. Die Microsoft Excel portefeulje optimeringsprogram (SOLVER) word gebruik om die beleggingsverhoudings, verwagte winste en standaardafwykings van die portefeuljes aan die effektiewe grens te illustreer. Die "Single Index Model" (SIM) kan gebruik word as 'n alternatief vir die Markowitz diversi:tikasiemodel. Dit verminder drasties die getal parameters en lewer maklik die effektiewe reeks, sonder die tegniese probleme wat ondervind word met die oplossing by die Markowitz model. Nietemin, indien die SIM die werklike data weerspreek sal die vereenvoudiging van die berekenings bereik word ten koste van onakurate resultate. Die eenvoud van die SIM is verkry ten koste van die samestelling van 'n suboptimale portfeulje, wat nie aan die ooreenstemmende effektiewe grens lê nie. Die "Capital Asset Pricing Model" (CAPM) wys dat daar baie sistematiese risiko gekoppel is aan die portfeulje ingesluit in hierdie studie. Deur gebruik temaak van die CAPM is dit moontlik om vas te stel watter deel van die risiko (nie-sistematies) die produsent kan beheer en watter deel die produsent nie kan beheer nie (sistematiese risiko). Die verhouding van sistematiese risiko wat weggediversifiseer kan word is klein in verhouding tot die algehele risiko van die boerderysektor portefeulje. Die sukses hang afvan die doeltreffendheid van die mark, sowel as 'n groot tot-op-datum en betroubare bron van data. Baie van die jonger aangeplante kultivars kan nie ingesluit word in hierdie studie nie as gevolg van beperkte data In die volgende paar jaar, soos data beskikbaar word, sal dit moontlik wees om effektiewe grense van 'n wye reeks gewasse saam te stel. Verskillende gewasse en kultivars sal die hoeveelheid alternatiewe gebruike van natuurlike hulpbronne in die PaarllBergrivierstreek vermeerder deur diversifikasie. Dit sal lei tot meer keuses vir die boer en meer buigsaamheid in die besluitnemingsproses. Sonder betroubare data kan betroubate resultate nie verkry word me.

This thesis studies the role accounting plays in the monitoring and reporting of soil quality in one sector of the agricultural industry, broadacre farming. A survey was conducted with broadacre farmers in the Loddon Catchment, Victoria, Australia. The primary aim was to determine the effectiveness accounting plays in providing information to decision makers relative to the productive capacity in soil quality and not just on profits. The capital asset in this study was defined as soil quality. Soils and soil quality in particular, are major elements in determining land value. The concern is decisions are being made by potential buyers and other decision makers, particularly policy makers, with regards to soil quality on the basis of incomplete and often misleading information. It is proposed that a major reason is due to the fact that different participants in the agricultural and accounting industries require and use different information. The accounting systems used by farmers are those that have been developed for the manufacturing sector which may not be appropriate for managing long-term, complex resources such as soil. The farmers themselves did not find formal accounting reports useful for decision making because these reports are based on uniform standards and market prices. The topic of soil quality and land degradation is viewed from two perspectives. In one perspective, the proprietary view; the accounting emphasis is on the ownership of assets and the change, both in income and capital, in these assets over time. In this case the accounting equation is seen as assets - liabilities = equities. The proprietor takes all the risk. A more recent perspective in accounting, the entity view, emphasises the assets whether financed from equity or debt and where the accounting equation is seen as assets = equities. The emphasis changes to the income flow from these assets and more interest is shown in current market prices as a reflection of the future value of these assets Profit is not necessarily a good indicator of what farmers are doing for their capital asset. There needs to be greater emphasis on costs undertaken for the conservation of soil. Those costs should be considered an investment and put into the balance sheet and not the profit and loss statement. The major finding of study demonstrates that decision making groups have different