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Risk Management in Agriculture: Lesson from Bulgaria

In: Eurasian Business and Economics Perspectives

Author

Listed:
  • Hristina Harizanova-Bartos

    (University of National and World Economy)

  • Zornitsa Stoyanova

    (University of National and World Economy)

Abstract

Agriculture is a traditional sector in Bulgaria. The relevance of the challenges faced by the agricultural sector and the achievement of sustainability leads to a practical need to minimize the risks of the activity. The aim of the article is to evaluate the risk management mechanisms in Bulgaria and on this basis to be prepared conclusions about the most applicable for the Bulgarian agricultural holdings and to be given recommendation for improvement of risk management. In 2020, a survey was conducted among 50 farmers by prepared special questionnaire to study the risk. The contributions are related to proposals for improvement of risk management processes in Bulgarian agriculture. Our findings demonstrate that many risk-reduction mechanisms are not applied, and that there is a considerable disparity in risk-reduction mechanisms used between different agricultural specializations and according to the economic size. Greater attention should be paid to the specifics of activities in different agricultural sub-sectors and to manage those which will reduce the economic losses from the activity.

Suggested Citation

  • Hristina Harizanova-Bartos & Zornitsa Stoyanova, 2023. "Risk Management in Agriculture: Lesson from Bulgaria," Eurasian Studies in Business and Economics, in: Mehmet Hüseyin Bilgin & Hakan Danis & Ender Demir & Leszek Wincenciak & S. Tolga Er (ed.), Eurasian Business and Economics Perspectives, pages 167-178, Springer.
    • Handle: RePEc:spr:eurchp:978-3-031-36286-6_10
    DOI: 10.1007/978-3-031-36286-6_10
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