Purpose – The purpose of this paper is to introduce a novel measure of access to credit suited to estimate the relative change in credit reserves. Design/methodology/approach – A debt possibility frontier is estimated using data envelopment analysis and the Malmquist index is calculated. The...

Marketing of milk and meat in Denmark is dominated by two large cooperatives, Arla Foods in the dairy sector and Danish Crown in the pork sector. Members in these cooperatives practically have no possibility for price risk management on their main product. Futures markets for dairy and pork are...

In this paper, we present a theoretical model for adjustment costs and investment utilisation that illustrates their causes and types and shows in which phases of an investment they occur. Furthermore, we develop an empirical framework for analysing the size and the timing of adjustment costs...