Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00027251%3A_____%2F22%3AN0000001" target="_blank" >RIV/00027251:_____/22:N0000001 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.mdpi.com/1911-8074/15/8/366" target="_blank" >https://www.mdpi.com/1911-8074/15/8/366</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/jrfm15080366" target="_blank" >10.3390/jrfm15080366</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic

Popis výsledku v původním jazyce

The objective of the study was to identify the main factors influencing farmers’ willingness to take up agricultural insurance and participate in a mutual fund for non-insurable risks in the Czech Republic. Responses from 214 representative farms were processed using descriptive statistics, paired t-tests, binary logistic regression, and contingency analysis. The regression model showed the influences of agricultural area, distrust in insurance companies, the probability of losing more than 20% of production, the price of insurance premiums, and having a developed formal strategy on the likelihood of taking up agricultural insurance. Unlike previous empirical studies, this study did not attempt to look at agricultural insurance as an isolated risk management tool but rather to show the interrelationship between farmers’ decisions to join a mutual fund and their choice of agricultural insurance. Farmers expect most agricultural production risks to become significantly more important. With the ongoing economic crisis in the EU, there is growing pressure to reduce ad hoc public spending on coverage of non-insurable risks and to seek alternative solutions. The study also shows the need for a holistic approach to the design of risk management support systems in EU countries.

Název v anglickém jazyce

Factors Influencing the Take-Up of Agricultural Insurance and the Entry into the Mutual Fund: A Case Study of the Czech Republic

Popis výsledku anglicky

The objective of the study was to identify the main factors influencing farmers’ willingness to take up agricultural insurance and participate in a mutual fund for non-insurable risks in the Czech Republic. Responses from 214 representative farms were processed using descriptive statistics, paired t-tests, binary logistic regression, and contingency analysis. The regression model showed the influences of agricultural area, distrust in insurance companies, the probability of losing more than 20% of production, the price of insurance premiums, and having a developed formal strategy on the likelihood of taking up agricultural insurance. Unlike previous empirical studies, this study did not attempt to look at agricultural insurance as an isolated risk management tool but rather to show the interrelationship between farmers’ decisions to join a mutual fund and their choice of agricultural insurance. Farmers expect most agricultural production risks to become significantly more important. With the ongoing economic crisis in the EU, there is growing pressure to reduce ad hoc public spending on coverage of non-insurable risks and to seek alternative solutions. The study also shows the need for a holistic approach to the design of risk management support systems in EU countries.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

JOURNAL OF RISK AND FINANCIAL MANAGEMENT

ISSN

1911-8066

e-ISSN

1911-8074

Svazek periodika

15

Číslo periodika v rámci svazku

8

Stát vydavatele periodika

CH - Švýcarská konfederace

Počet stran výsledku

17

Strana od-do

nestrankovano

Kód UT WoS článku

000845541700001

EID výsledku v databázi Scopus

2-s2.0-85136781953