Multifactor productivity analysis in the sample of agricultural enterprises

Jaroslav Svoboda and Martina Novotná
Additional contact information
Jaroslav Svoboda: Katedra účetnictví a financí, Jihočeská univerzita v Českých Budějovicích, Studentská 13, 370 05 České Budějovice, Česká republika
Martina Novotná: Katedra ekonomiky, Jihočeská univerzita v Českých Budějovicích, Studentská 13, 370 05 České Budějovice, Česká republika

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2011, vol. 59, issue 7, 395-402

Abstract: The assessment of Total Factor Productivity (TFP), i.e. inclusion of all factors of production seems to be an easy task. However, its calculation can meet with some difficulties. The calculation of inputs is complicated as different factors of production, which are processes to outputs, has to be transformed to a common factor. The aim of the paper was to analyse relations of efficiency of factors of production measured by factor productivity based on economic profit and returns (profitability) of enterprise measured by the most synthetic profitability indicator (Return on Assets, ROA). A partial aim was to consider risk analysed through ratio of cost to capital (Weighted Average Cost of Capital - WACC) performed in the sample on agricultural enterprises in 2004-2008. The database used for the research consisted of 622 agricultural enterprises. The methodology of calculation was based on an approach according to Neumaierová and Neumaier (2002) considering the economic profit. This methodology suits well to conditions of Czech financial statements (a balance sheets and a profit and loss statement). The TFP assessment was connected to the return on assets and the correlation analysis revealed dependences of calculated indicators. The paper is a part of the MSM 6007665806 research project.

Keywords: Total Factor Productivity (TFP); Weighted Average Cost of Capital (WACC); Return on Assets (ROA); efficiency of production factor; correlation analysis; farms (search for similar items in EconPapers)
Date: 2011
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://acta.mendelu.cz/doi/10.11118/actaun201159070395.html (text/html)
http://acta.mendelu.cz/doi/10.11118/actaun201159070395.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2011059070395

DOI: 10.11118/actaun201159070395

Access Statistics for this article

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis is currently edited by Markéta Havlásková

More articles in Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis from Mendel University Press
Bibliographic data for series maintained by Ivo Andrle ().