Industry Differences in Productivity—In Agriculture and Tourism by Lake Balaton, Hungary

Zsuzsanna Bacsi, Lóránt Dénes Dávid () and Zsolt Hollósy ()
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Zsuzsanna Bacsi: Institute of Agricultural and Food Economics, Hungarian University of Agriculture and Life Sciences, HU-2100 Gödöllő, Hungary
Lóránt Dénes Dávid: Faculty of Economics and Business, John von Neumann University, HU-6000 Kecskemét, Hungary
Zsolt Hollósy: Institute of Agricultural and Food Economics, Hungarian University of Agriculture and Life Sciences, HU-2100 Gödöllő, Hungary

Sustainability, 2022, vol. 14, issue 19, 1-19

Abstract: The paper compared the performance of firms in agriculture and in tourism in two countryside areas of Hungary, assessing 2613 firms for 16 years (2004–2019). The data are from tax reports of all firms of the analysed areas. Agriculture and countryside tourism depend on environmental factors, thus they are more seriously affected by adverse environmental events than other production or service industries. The research was aimed at identifying differences between the two industries, and reveal time patterns and size-related traits of performance. Labour force, sales revenues, total assets, labour productivity, and total factor productivity (TFP) were analysed with descriptive statistics and panel regression analysis. Results reveal that the performance of firms in these industries differ significantly regarding total assets, sales revenues, labour force, and labour productivity, but does not differ in TFP, and differences are associated either with average levels of indicator values or their temporal tendencies. Our results underline that firm performance considerably differs by firm size, smaller firms are generally more labour-efficient than larger ones, and labour efficiency is positively impacted by total asset level, but TFP is not. Agriculture was found to be not less efficient than tourism, contrary to general assumptions.

Keywords: industry characteristics; firm efficiency; firm size; agriculture; tourism; panel regression (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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