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Statistical Price Analysis for Management Information Systems : An Indonesian Cocoa Exports Example
Oleh:
Djunaidi, Harjanto
;
Tilley, Daniel S.
;
Brorsen, B. Wade
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Jurnal Manajemen Prasetiya Mulya vol. I no. 2 (1994)
,
page 43-50.
Topik:
STATISTICAL
;
statistical price
;
management information systems
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ10.1
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The challenge faced by the management at all levels is to create a management information system that provides all participants in the system with the information they need in a form that can be used for decision making. Knowledge of the factors that affect product selling prices allows producers to evaluate the returns from altering marketing strategies to create characteristics for which premiums are paid. Understanding the relative importance of factors affecting the selling prices of the company's products may alllow producers and processors to increase returns to its products in the market altering production systems and marketing strategies. A hedonic pricing function can be applied to commodities and consumer goods to understand the relative importance of factors affecting a company's product selling price as well as its reputation in the industry. To demonstrate that a hedonic price model can be used as a tool to understand such factors and the company selling reputation, we applied the hedonic price model to indonesian cocoa exports. The hedonic price model that is applied to indonesian cocoa export price shows how characteristics of 361 lots of fine and 50 lots of bulk cocoa influenced the selling price of java cocoa from march 190 to december 1991. Size of the lots, grade and seasonality affect prices received for fine cocoa. Fine cocoa price premiums are paid for smaller lots and higher cocoa grades (larger, heavier beans). Prices of fine cocoa are found to exhibit a significant seasonal pattern. Company of origin was significant at the 11 percent level. Fine cocoa prices are not related to time until delivery. Fine cocoa prices are not positively related to cocoa futures prices. Bulk cocoa prices are positively related to cocoa future prices an dexhibit a seasonal trend. Bulk cooca prices are not related to lot size, days until delivery, grade and company of origin. Hedonic price functions could be incorporated in management information systems to analyze changes in premiums and discounts and to develop price expectations.
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