Acta Univ. Agric. Silvic. Mendelianae Brun. 2011, 59, 57-68
Published online 2014-01-26

Components of the financial performance of agricultural enterprises

Michaela Beranová, Marcela Basovníková

Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika

Financial performance of agricultural enterprises is discussed mainly in relation to agricultural subsidies policy of the Government. Agriculture is undoubtedly a specific sector of the national economy because the market conditions do not ensure a settlement of production costs of agricultural commodities. Than the most of agricultural enterprises have negative financial performance measured with the Economic Value Added (EVA).
The aim of this paper is to identify and determine the main factors influencing the value of the EVA indicator in agricultural enterprises while the analysis is focused especially on four variables directly entering the calculation of economic value added. But the fact that these four variables are functions of other variables has to be also taken into account. Constructed multi-dimensional regression model corresponds with the fundamental logic of the calculation of economic value added. It has been observed that the strongest influence on the value of EVA stands on the side of operating profit. But in agricultural enterprises, the important part of this profit consists just in the agricultural production subsidies. This way, these subsidies become the substantial part of the performance of agricultural enterprises.


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