| Abstract [eng] |
According to the Lithuanian macroeconomic overview presented periodically by various banks, for many years the dairy sector has been leading among different branches of food production in terms of its contribution to the national economy. It only confirms that the dairy industry is important not only for nutrition of people but also the social and economic well-being of the country. However, there is a lack of economic overviews, research of foreign and Lithuanian scientists analyzing and interpreting the influence of economic factors on the performance of these companies. Object of research. Results of the Lithuanian dairy companies. Purpose of research. To identify macro-economic factors affecting the performance of Lithuanian dairy companies and predict future changes of these results. Tasks of research: 1. To summarize the role of the dairy sector in the country’s economy, its problems, and to evaluate the role of macroeconomic factors on the activities of companies. 2. To discuss the principles for assessment of the performance of companies. 3. To identify factors affecting the performance of companies. 4. To provide the model for assessment of the impact of macro-economic factors on the performance of Lithuanian dairy companies. 5. To evaluate the significance of the relationship between macro-economic factors and the performance of Lithuanian dairy companies and to develop a regression model. 6. To estimate the operational results of Lithuanian dairy companies. Based on the analysis of scientific literature, the work has highlighted the main macro-economic factors that affect the performance in the dairy industry: gross domestic product, inflation, unemployment rate, public debt, average earnings and export volumes. The indicator of sales revenue was chosen to represent the operating results of the company in the context of the macro-economic environment. This is the increase in economic benefits for the sale of goods and services during the reporting period. The analysis has shown that the greatest impact on the change of sales revenues in the dairy sector is made by the changes of the gross domestic product, public debt volumes, average wages and direct foreign investment. If the volume of gross domestic product increases by 1 per cent, the sales revenues of dairy sector companies increase by 1.03 per cent; if the public debt increases by 1 per cent, the sales revenues of dairy sector companies increase by 0.47 per cent. If the average wage increases by 1 per cent, the sales revenues of dairy sector companies increase by 0.92 per cent. If foreign direct investment increases by 1 per cent, the sales revenues of dairy sector companies increase 0.76 per cent. In 86.6 per cent companies of the dairy sector, changes in revenue are determined by the changes of gross domestic product, public debt volumes, average wages and foreign direct investment. |
