What drives total factor productivity and its growth in post-communist countries? The case of the Czech food industry

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43310%2F20%3A43917965" target="_blank" >RIV/62156489:43310/20:43917965 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/61384399:31130/20:00055119

Výsledek na webu

<a href="https://doi.org/10.1108/JADEE-04-2019-0050" target="_blank" >https://doi.org/10.1108/JADEE-04-2019-0050</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1108/JADEE-04-2019-0050" target="_blank" >10.1108/JADEE-04-2019-0050</a>

Jazyk výsledku

angličtina

Název v původním jazyce

What drives total factor productivity and its growth in post-communist countries? The case of the Czech food industry

Popis výsledku v původním jazyce

Purpose: The paper aims to investigate factors that drive the total factor productivity (TFP) and its growth in the Czech food industry over 2003-2017. The authors&apos; analysis focuses on firm-level characteristics such as location choice, sub-sector affiliation, use of debt, liquidity, asset turnover, firm size and firm age. Design/methodology/approach: The determinants of productivity were tested econometrically by estimation of multivariate regression models. The firm-level panel data set consisted of 14,488 observations (data of 980 firms spanning 15 years). TFP was estimated by three regression-based techniques - ordinary least squares (OLS) regression, instrumental variables (IV) approach and two-way generalized method of moments (GMM) regression. All three measures of TFP were used as outcome variables to estimate the impact of firm-level determinants on both TFP level and growth. Findings: The results have shown statistically significant and reversed U-shaped relationship between the firm age and the TFP level (with a turning point in the age of 12.5 years). However, the dynamic models investigating the TFP growth have found that younger firms achieve higher productivity growth in comparison with older ones. Higher market share and assets turnover were positively associated with both TFP level and its growth. Research limitations/implications: This study brings several relevant propositions for future research. First, the authors recommend future researchers to study not only differences in the levels of productivity but also determinants of its growth. Second, the authors believe that adding a non-linear component to age as a factor explaining changes in the levels of productivity might be a very relevant contribution to the literature. Originality/value: Although it is generally accepted that successful and sustainable growth of firms, regions and economies can be achieved particularly through viable companies with high productivity, there is still a limited number of firm-level studies explaining the determinants of productivity levels and growth in agribusiness sectors in transition economies. Therefore, this study is expected to contribute to a better understanding of this important topic.

Název v anglickém jazyce

What drives total factor productivity and its growth in post-communist countries? The case of the Czech food industry

Popis výsledku anglicky

Purpose: The paper aims to investigate factors that drive the total factor productivity (TFP) and its growth in the Czech food industry over 2003-2017. The authors&apos; analysis focuses on firm-level characteristics such as location choice, sub-sector affiliation, use of debt, liquidity, asset turnover, firm size and firm age. Design/methodology/approach: The determinants of productivity were tested econometrically by estimation of multivariate regression models. The firm-level panel data set consisted of 14,488 observations (data of 980 firms spanning 15 years). TFP was estimated by three regression-based techniques - ordinary least squares (OLS) regression, instrumental variables (IV) approach and two-way generalized method of moments (GMM) regression. All three measures of TFP were used as outcome variables to estimate the impact of firm-level determinants on both TFP level and growth. Findings: The results have shown statistically significant and reversed U-shaped relationship between the firm age and the TFP level (with a turning point in the age of 12.5 years). However, the dynamic models investigating the TFP growth have found that younger firms achieve higher productivity growth in comparison with older ones. Higher market share and assets turnover were positively associated with both TFP level and its growth. Research limitations/implications: This study brings several relevant propositions for future research. First, the authors recommend future researchers to study not only differences in the levels of productivity but also determinants of its growth. Second, the authors believe that adding a non-linear component to age as a factor explaining changes in the levels of productivity might be a very relevant contribution to the literature. Originality/value: Although it is generally accepted that successful and sustainable growth of firms, regions and economies can be achieved particularly through viable companies with high productivity, there is still a limited number of firm-level studies explaining the determinants of productivity levels and growth in agribusiness sectors in transition economies. Therefore, this study is expected to contribute to a better understanding of this important topic.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

40500 - Other agricultural sciences

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

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

Název periodika

Journal of Agribusiness in Developing and Emerging Economies

ISSN

2044-0839

e-ISSN

—

Svazek periodika

10

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

21

Strana od-do

285-305

Kód UT WoS článku

000525380500001

EID výsledku v databázi Scopus

2-s2.0-85083296820