ALTERNATIVES FOR EXISTING THE LOSS ZONE FOR MEDIUM-SIZED AGRICULTURAL ENTERPRISES IN THE REPUBLIC OF SERBIA
DOI:
https://doi.org/10.5937/ekoPolj1801391DKeywords:
loss zone, agricultural enterprises, medium-sized enterprises, financial analysis, economic and fnancial powerAbstract
The research objective is to identify causes and alternatives for exiting the loss zone for agricultural enterprises in Serbia. The subject of the research is fnancial performance of agricultural enterprises in 2010-2014. Economic and fnancial power of all mediumsized agricultural enterprises was determined by applying fnancial analysis. Based on the sample of least successful entities, the causes and alternatives for exiting the loss zone were identifed. The results show that loss appears due to a reduction in operating income or in contribution margin, or due to an increase in fnancial expenses. The frst suggested alternative refers to increasing the volume of production and sales at current global price parity, while the second assumes shifting global price parity in favour of sales prices at current real capacity utilization rate. The effects of proposed alternatives are evaluated by two measures of proftability - return on assets and return on equity.
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References
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2. Đuričin, S. (2012). Analiza poslovanja i mogućnosti izlaska preduzeća iz zone gubitka (ISBN: 978-86-80315-92-8). Institut ekonomskih nauka, Beograd.
3. Đuričin, S. and Beraha I. (2012). Promoting availability of fnancing to SMEs in Serbia on the road to EU integration, European integration process in Western Balkan countries (ISBN: 978-972-9344-05-3). Faculty of Economics of the University of Coimbra, pp. 493-511. Coimbra, Portugal.
4. Đuričin, S. and Beraha, I. (2013). Evaluation of Business Performances of Agricultural Enterprises in the Mixed Farming Sub-sector and their Impact on Economic Growth of the Republic of Serbia. Agriculture in Serbia and Portugal: recent developments and economic policy implications, Faculty of Economics of the University of Coimbra, 2013, pp. 122-138, Coimbra, Portugal.
5. Đuričin, S. and Bodroža D. (2013). The impact of drought on yield position of the group of enterprises from agriculture sector. Economics of agriculture, The Balkan Scientifc Association of Agrarian Economists, Institute of Agricultural Economics, Belgrade and Academy of Economic Studies, 2013 (Vol. LX, No.1), pp. 25-39, Bucharest, Romania.
6. Đuričin, S. i Beraha I. (2014) Unapređenje fnansijskih performansi agroindustrijskog sektora po osnovu podsticajnih mera razvoja (ISBN; 978-86- 89465-12-9). Deindustrijalizacija u Srbiji, Institut ekonomskih nauka, Beogradska bankarska akademija, Fakultet za bankarstvo, osiguranje i fnansije, pp. 690-703, Beograd.
7. Đuričin, S., Stevanović, S., Ljumović, I., and Simović, V. (2016) Nacionalna mreža srednjih preduzeća u Republici Srbiji, (ISSN: 2466-5274). Institute of economic sciences, Belgrade
8. Erić, D., Beraha, I. and Đuričin, S. (2011) Financing innovative small and mediumsized enterprises in times of crisis, Revista Romana de Economie: Romanian Journal of Economics, 2011, pp. 59-74, Romanian Academy.
9. Erić, D., Beraha, I., Đuričin, S., Kecman, N. and Jakišić, B. (2012). Finansiranje malih i srednjih preduzeća u Srbiji, (ISBN: 978-86-80315-94-2). Privredna komora Srbije, Institut ekonomskih nauka, Beograd.
10. Ivković, D., Karavidić, Č, M., and Vujićić, S. (2012). Small and Medium-Sized Enterprises as a Factor of Serbian Economy. Economic Analysis. Institute of economic sciences, 2012 (Vol 45/No 3-4), pp. 31-45, Belgrade, Serbia
11. Majstorović, A., Miloradić, J., Andžić, S., Andžić, R., Divac, G., Aničić, A., and Mirković, Z. (2016). Legal aspects of fnancial analysis in agribusiness companies in Serbia. Economics of agriculture, The Balkan Scientifc Association of Agrarian Economists, Institute of Agricultural Economics, Belgrade and Academy of Economic Studies, 2016 (63/ No.4), pp. 1379-1393, Bucharest, Romania.
12. Mitrović, A., Knežević, S. and Veličković, M. (2014). Ratio analysis specifcs of the family dairies fnancial statements. Economics of agriculture, The Balkan Scientifc Association of Agrarian Economists, Institute of Agricultural Economics, Belgrade and Academy of Economic Studies, 2015 (62/ No.4), pp. 1061-1078, Bucharest, Romania.
13. National Bank of Serbia, Basic macroeconomic indicators, available at: https://www.nbs.rs/internet/cirilica/80/index.html (date: 05/09/2017.)
14. Neogradi, S. (2017). Methodology of Credit Analysis Development. Economic Analysis, Institute of economic sciences, 2013, Vol 50, No. 3-4, pp.75-85, Belgrade, Republic of Serbia.
15. Petrović, P. and Vuković, D. (2016). Financial sources of small and medium enterprises for agribusiness and eco-tourism in Serbia. Economics of agriculture, The Balkan Scientifc Association of Agrarian Economists, Institute of Agricultural Economics, Belgrade and Academy of Economic Studies, 2016 (63/ No.4), pp. 1433-1444, Bucharest, Romania.
16. Rodić, J. Vukelić, G. i Andrić, M. (2007). Teorija, politika i analiza bilansa (ISBN: 978-86-7834-040-6). Poljoprivredni fakultet, Beograd.
17. Savić, B., Vasiljević, Z. and Đorđević, D. (2014). Strategic cost management as instrument for improving competitiveness of agribusiness complex. Economics of agriculture, The Balkan Scientifc Association of Agrarian Economists, Institute of Agricultural Economics, Belgrade and Academy of Economic Studies, 2014 (61/No.4), pp. 1005-1022, Bucharest, Romania.
18. Serbian Business Registers Agency, Financial Statements, available at: http://pretraga2.apr.gov.rs/ObjedinjenePretrage/Search/Search (date: 05/06/2017.)
19. Vukelić, G. and Đuričin, S. (2012). Agricultural Output Growth at the Regional Level in Serbia. Managing structural changes: trends and requirements (ISBN: 978-972-9344-06-0). Faculty of Economics of the University of Coimbra, pp. 611-626.
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Published
2018-01-20
How to Cite
Đuričin, S., Beraha, I., & Bodroža, D. (2018). ALTERNATIVES FOR EXISTING THE LOSS ZONE FOR MEDIUM-SIZED AGRICULTURAL ENTERPRISES IN THE REPUBLIC OF SERBIA. Economics of Agriculture, 65(1), 391–411. https://doi.org/10.5937/ekoPolj1801391D
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