Industry Differences in Productivity—In Agriculture and Tourism by Lake Balaton, Hungary

The paper compared the performance of firms in agriculture and in tourism in two countryside areas of Hungary, assessing 2613 firms for 16 years (2004–2019). The data are from tax reports of all firms of the analysed areas. Agriculture and countryside tourism depend on environmental factors, thus th...

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Bibliographic Details
Published in:Sustainability 2022-10, Vol.14 (19), p.11809
Main Authors: Bacsi, Zsuzsanna, Dávid, Lóránt Dénes, Hollósy, Zsolt
Format: Article
Language:English
Subjects:
20th century
Agricultural industry
Agriculture
Capital structure
Competitive advantage
Demography
Economic development
Employment
Environmental factors
Hungary
Industrial productivity
Industrial research
Influence
Labor productivity
Manufacturing
Productivity
Profitability
Regression analysis
Return on assets
Revenue
Rural areas
Service industries
Statistical analysis
Tax rates
Tourism
Travel industry
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Summary:The paper compared the performance of firms in agriculture and in tourism in two countryside areas of Hungary, assessing 2613 firms for 16 years (2004–2019). The data are from tax reports of all firms of the analysed areas. Agriculture and countryside tourism depend on environmental factors, thus they are more seriously affected by adverse environmental events than other production or service industries. The research was aimed at identifying differences between the two industries, and reveal time patterns and size-related traits of performance. Labour force, sales revenues, total assets, labour productivity, and total factor productivity (TFP) were analysed with descriptive statistics and panel regression analysis. Results reveal that the performance of firms in these industries differ significantly regarding total assets, sales revenues, labour force, and labour productivity, but does not differ in TFP, and differences are associated either with average levels of indicator values or their temporal tendencies. Our results underline that firm performance considerably differs by firm size, smaller firms are generally more labour-efficient than larger ones, and labour efficiency is positively impacted by total asset level, but TFP is not. Agriculture was found to be not less efficient than tourism, contrary to general assumptions.
ISSN:2071-1050
2071-1050
DOI:10.3390/su141911809