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Production function in agriculture in the Czech Republic

Author

Listed:
  • Monika Burghauserová

    (Institute of Technology and Business in České Budějovice, Czech Republic)

  • Zuzana Rowland

    (Institute of Technology and Business in České Budějovice, Czech Republic)

  • Lenka Novotná

    (Institute of Technology and Business in České Budějovice, Czech Republic)

Abstract

Correct setting of value drivers of agricultural companies plays an important role, as every company strives for maximizing its profit. The goal of the paper was to determine the dependence of profit on production factors and to identify important production factors. Variables verified as value drivers were land, material, personnel costs, and depreciation of fixed tangible and intangible assets. The selected method of data processing is multiple regression analysis. The data were represented using a normal probability plot of residuals and a distribution histogram. The results show that 51.44 % of significant variables are material, personnel costs and depreciation of fixed tangible and intangible assets. The findings also imply that multiple regression analysis is a suitable statistical method. In conclusion, it can be stated that material, personnel costs, and depreciation of fixed tangible and intangible assets are important value drivers.

Suggested Citation

  • Monika Burghauserová & Zuzana Rowland & Lenka Novotná, 2022. "Production function in agriculture in the Czech Republic," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(1), pages 453-466, September.
    • Handle: RePEc:ssi:jouesi:v:10:y:2022:i:1:p:453-466
    DOI: 10.9770/jesi.2022.10.1(25)
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    References listed on IDEAS

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    More about this item

    Keywords

    agricultural companies; value drivers; profit; multiple regression analysis; production function;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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