THE EFFICIENCY ANALYSIS IN SMALL WINERIES IN THE REPUBLIC OF SERBIA
DOI:
https://doi.org/10.5937/ekoPolj1804529LKeywords:
Data envelopment analysis, Super-Efficiency, Efficiency, wineries, Republic of SerbiaAbstract
This paper contains the attempt to evaluate the activity development efficiency of small wineries in the Republic of Serbia as insufficiently used development potential of one industry branch. Small wineries represent an activity which is currently being developed and it is expected that it will, as it is the case in developed countries, contribute to the total economic development and employment, development of brand as recognizable brand of wine from this region and start further recognizable development of this branch as family business in the country and abroad. The analysis was performed using the non-parametric linear programming model DEA (Data Envelopment Analysis). The aim of this paper is that, using the analysis of financial statements and the effectiveness of representative wineries belonging to the category of small enterprises, a rational strategic decision-making is provided.
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References
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2. Cherchye, L., Moesen, W., Rogge, N., & Van Puyenbroeck, T. V. (2007). An introduction to benefit of the doubt composite indicators. Social Indicators Research, 82(1), 111–145.
3. Cooper, W. W., Seiford, L. M., & Tone, K. (2000). Data Envelopment Analysis. Kluwer Academic Publishers, Boston.
4. Farell, M. J. (1957). The Measurement of Productive Efficiency. Journal of Royal Statistical Society, Series A, 120(3), 253-290.
5. Ivanišević, D., Jakšić, D., & Korać, N. (2015). Wineyard Atlas, Census of Agriculture 2012 in the Republic of Serbia, Statistical Office of the Republic of Serbia, Belgrade [in Serbian: Иванишевић, Д., Јакшић, Д., & Кораћ, Н. (2015). ВИНОГРАДАРСКИ АТЛАС, Попис пољопривреде 2012 -Пољопривреда у Републици Србији. Републички завод за статистику, Београд].
6. Jakšić, D., Ivanišević, D., Đokić, V., & Brbaklić-Tepavac, M. (2015). Wine Atlas, Census of Agriculture 2012 in the Republic of Serbia, Statistical Office of the Republic of Serbia, Belgrade [in Serbian: Јакшић, Д., Иванишевић, Д., Ђокић, В., & Брбаклић-Тепавац, М. (2015). ВИНОГРАДАРСКИ АТЛАС, Попис пољопривреде 2012 - Пољопривреда у Републици Србији. Републички завод за статистику, Београд].
7. Jovanović, D., Muhi, B., & Anđelković, A. (2015). Wineries and Wine Routes as a Tool for the Development of Agritourism in Serbia, Business of tourism, 15, 87-93 [in Serbian: Јовановић, Д., Мухи, Б., & Анђелковић, А. (2015). Винарије и путеви вина као средство за развој агротуризма у Србији. Туристичко пословање, 15, 87–93].
8. Knežević S., & Fabris M. (2010). Management of Working Capital and Short-term Liabilities, The Accounting, The Association of Accountants and Auditors of Serbia, Belgrade No. 11- 12, pp. 61–73. [in Serbian: Кнежевић С., & Фабрис М. (2010). Управљањa обртним средствима и краткорочним обавезама. Рачуноводство, Савез рачуновођа и ревизора Србије, Београд, 11-12/2010, 61–73].
9. Koopmans, T. C. (1951). An Analysis of Production as an Efficient Combination of Activities Activity, Analysis of Production and Allocation. Wiley, New York.
10. Lukić, R., Lalić, S., Sućeska, A., Hanić, A., & Bugarčić, M. (2018). Carbon dioxide emissions in retail food. Economics of Agriculture, 65(2), 859-874.
11. Martić, M. (1999). Data Envelopment Analysis with Applications. Ph.D. Thesis, Faculty of Organizational Sciences, Belgrade [in Serbian: Мартић, М. (1999). Анализа обавијених података са применама. Докторска дисертација, Факултет организационих наука, Београд].
12. Melyn, W., & Moesen, W. (1991). Towards a synthetic indicator of macroeconomic performance: unequal weighting when limited information is available. Public Economics Research Papers, 17 (1), 1–24.
13. Mitrović, A., Knežević, S., & Veličković, M. (2015). Ratio analysis specifics of the family dairies financial statements. Economics of Agriculture, 62(4), 1061-1078.
14. OIV, (2015). Note de conjuncture. Organisation Internationale de la Vigne et du Vin, Avril.
15. Paradi, J., Asmild, M., Aggarwall, V., & Schaffnit, C. (2004). Combining DEA Window Analysis with the Malmquist Index Approach in a Study of the Canadian Banking Industry. Centre for Management of Technology and Enterprenuership, Toronto.
16. Savić, G. (2012). Comparative Analysis of Effciency in The Financial Sector. Ph.D. Thesis, Faculty of Organizational Sciences, Belgrade [in Serbian: Савић, Г. (2012). Компаративна анализа ефикасности у финансијском сектору. Докторска дисертација, Факултет организационих наука, Београд].
17. Savić, G., & Martić, M. (2016). Composite indicators construction by data envelopment analysis: Methodological background. Emerging Trends in the Development and Application of Composite Indicators, 98-126.
18. Sellers-Rubio, R., & Alampi-Sottini, V. (2016). The influence of size on winery performance: Evidence from Italy. Wine Economics and Policy 5 (1), 33–41
19. Sellers-Rubio, R., Alampi-Sottini, V., & Menghini, S., (2016). Productivity growth in the winery sector: evidence from Italy and Spain. International Journal of Wine Business Research, 28 (1), 59–75.
20. Shen, Y., Ruan, D., Hermans, E., Brijs, T., Wets, G., & Vanhoof, K. (2011). Modeling qualitative data in data envelopment analysis for composite indicators. International Journal and System Assurance and Engineering Management, 2(1), 21–30.
21. UNDP. (2000). Human Development Report 2000. UNDP. United Nations Development Program.
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Published
2018-12-28
How to Cite
Lekić, N., Savić, G., Knežević, S., & Mitrovic, A. (2018). THE EFFICIENCY ANALYSIS IN SMALL WINERIES IN THE REPUBLIC OF SERBIA. Economics of Agriculture, 65(4), 1529–1544. https://doi.org/10.5937/ekoPolj1804529L
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Review articles
