 An Approach To Understanding And Assessing The Governance Efficiency Of Agricultural EnterprisesEconomic Archive, 2022, issue 2 Year 2022, 21-38 Abstract: This article incorporates the New Institutional Economy and proposes an approach for understanding and assessing the governance efficiency of farms. It corroborates that a farm is efficient if it manages all its transactions and activities in the most economical (equal or more efficient) way compared to any other organization. Moreover, farms must have a good potential to adapt to permanently changing market, institutional, technological and natural environments in order to have high (overall) governance efficiency. Nature of the problems in effective organization for the main farm transactions for securing needed factors of production and output realization is used as an indicator for farm’s comparative efficiency. The analysis of survey data found that the overall level of governance efficiency of Bulgarian farms is acceptable the efficiency of 60% of them is low. There are huge differences in the level of efficiency of farms of different legal form, size, specialization and location as well as in the share of farms with different levels of efficiency in each group. Keywords: governance; efficiency; farm; transaction costs (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:dat:earchi:y:2022:i:2:p:21-38 Access Statistics for this article Economic Archive is currently edited by Andrey Zahariev More articles in Economic Archive from D. A. Tsenov Academy of Economics, Svishtov, Bulgaria Contact information at EDIRC. |
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