In this paper, we present a theoretical model for adjustment costs and investment utilisation that illustrates their causes and types and shows in which phases of an investment they occur. Furthermore, we develop an empirical framework for analysing the size and the timing of adjustment costs...

All business transactions as well as achieving innovations take up resources, subsumed under the concept of transaction costs. One of the major factors in transaction costs theory is information. Firm networks can catalyse the interpersonal information exchange and hence, increase the access to...

The Lithuanian agricultural sector still features the processes of land reform, farm structure development, and modernisation. Accordingly, there is a need to utilise the benchmarking techniques in order to fathom the underlying trends and sources of efficiency and productivity. This paper...

Crop rotations are known to have two main kinds of economic effects: direct effects on potential yields and on the productivity of different inputs, and indirect effects on economically optimal input levels, especially pesticides and fertilizers. The main objective of this article is to uncover...

The report provides a literature review on the topic of estimation of demand and supply elasticities. To this end, it starts the discussion by summarizing the main facets of production theory and consumer theory to introduce the concept of elasticities, with examples of different types of...

In this paper we propose the organization of the structural analysis of the business processes of small businesses and agricultural cooperatives agricultural sector. The content of the business processes in these economic entities at the time of the study, an assessment is the effectiveness of...

Intergenerational farm transmission has been the object of a great many studies in Italy, which, however, have failed to clarify the difference between intra-family and extra-family farm transmission. To demonstrate the non-neutrality of this process, our econometric analysis shows: i) a...

Most studies analyzing the impact of human capital in agriculture use the measure of years of schooling of the producer as a proxy for decision-making skills. An alternative measure is used in this paper. The measure was derived by “grading” decision-making and execution skills of a sample...

The purpose of this paper is to provide some evidence on the push and pull factors that motivate farmers to expand across their home countries’ borders. The focus is on Danish expansion farmers and investor farmers setting up activities in Central and Eastern European countries like Slovakia,...

As a consequence of the recent reform of the Common Agricultural Policy the agricultural sector throughout the EU is undergoing a process of major structural change. The removal of direct payments and price support policies are expected to change farmers' behaviour and force them to reconsider...