Analysis of Production Function of Agricultural Holdings

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00027251%3A_____%2F19%3AN0000016" target="_blank" >RIV/00027251:_____/19:N0000016 - isvavai.cz</a>
Result on the web
<a href="https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf" target="_blank" >https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Analysis of Production Function of Agricultural Holdings
Original language description
Agricultural holdings differ in their production amount due to the size, different yields, technology or weather conditions. The aim of the paper is to find appropriate model for modelling the production function that would account for this heterogeneity and to find the main determinants of the agricultural production. There are panel data available (2 268 observations for 2014–2017), so fixed versus random effects model are considered, compared and tested to choose appropriate model. Cobb-Douglas production function was modelled. The production of farm (sales of own products and services) was explained by the consumption of material, capital, number of employees, and acreage. Results of fixed effects model were not economically meaningful. Hausmann test proved that random effects model is preferred. Increase of consumed material by 1% caused the increase of production by 0.52%, of tangible long-term assets by 1% caused increase in production by 0.17%, increase of number of employees by 1% caused increase in production by 0.01%, and of land by 0.02%. The production of Czech agricultural holdings is influenced the most by the amount of consumed material, while the number of employees and acreage are less significant.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
37th International Conference on
ISBN
978-80-7394-760-6
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
85-90
Publisher name
University of South Bohemia in České Budějovice, Faculty of Economics
Place of publication
České Budějovice
Event location
České Budějovice
Event date
Sep 11, 2019
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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