Analysis of Production Function of Agricultural Holdings

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

Analysis of Production Function of Agricultural Holdings

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Analysis of Production Function of Agricultural Holdings

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

37th International Conference on

ISBN

978-80-7394-760-6

ISSN

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e-ISSN

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Počet stran výsledku

6

Strana od-do

85-90

Název nakladatele

University of South Bohemia in České Budějovice, Faculty of Economics

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

11. 9. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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