THE PERFORMANCES OF COFFEE PROCESSORS AND COFFEE MARKET IN THE REPUBLIC OF SERBIA
DOI:
https://doi.org/10.5937/ekoPolj1701307NKeywords:
coffee processors, coffee market, market share, proftability.Abstract
The main aim of this paper is to investigate the performances of coffee processors and coffee market in Serbia based on the market concentration analysis, profitability analysis, and proftability determinants analysis. The research was based on the sample of 40 observations of coffee processing companies divided into two groups: large and small coffee processors. The results indicate that two large coffee processors have dominant market share. Even though the Serbian coffee market is an oligopolistic, proftability analysis indicates that small coffee processors have a signifcant better proftability ratio than large coffee processors. Furthermore, results show that proftability ratio is positively related to the inventory turnover and negatively related to the market share.
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2. Aminu, Y. (2012): Determinants of Inventory Managements as a Component of Working Capital in Ensuring Corporate Proftability-A Conceptual Approach. Research Journal of Finance and Accounting, vol. 3, no. 11, IISTE, pp. 58 – 61
3. Asimakopoulos, I., Samitas, A., Papadogonas, T. (2009): Firm-specifc and economy wide determinants of frm proftability-Greek evidence using panel data. Managerial Finance, vol. 35, no. 11, Emerald, England, pp. 929-940.
4. Bogosavljević Jovanović, M., Radojičić, Z. (2016): Consumer Behaviour in the New Products Management in Serbia. Management, no. 2016/79, FON, Belgrade, Serbia, pp. 27-36.
5. Bourgeois, L. J., Ganz, A., Gonce, A., Nedell, K. (2014): Proftability of industries and frms over time, Journal of Strategy and Management, vol. 7, no. 3, Emerald, England, pp. 210 – 225.
6. Burja, C. (2011): Factors influencing the companys proftability. Annales Universitatis Apulensis Series Oeconomica. vol. 13, no. 2, Alba Lulia, Romania, pp. 215-224.
7. Business Registry Agency. (2016): Database. BRA, Belgrade, Serbia, (available at: http://apr.gov.rs)
8. Eneje, C., Nweze, A., Udeh, A. (2012): Effect of effcient inventory management on proftability: evidence from selected brewery frms in Nigeria, International Journal of current Research, vol. 4, IJCR, pp. 350-354
9. Euromonitor. (2016): Coffee in Serbia. Euromonitor, London, England, (available at: http://www.euromonitor.com)
10. Field, A. (2009): Discovering statistics using SPSS, Sage Publication Ltd, London, England.
11. Goddard, J., Tabakoli, M., Wilson, J. (2005): Determinants of proftability in European manufacturing and services: evidence from a dynamic panel model, Applied Financial Economics, vol. 15, no. 18, Taylor & Francis, London, England, pp. 1269-1289.
12. International Coffee Organization. (2016): Historical Data on the Global Coffee Trade, International Coffee Organization, London, England, (available at: http://www.ico.org/new_historical.asp?section=Statistics)
13. International Coffee Organization. (2015): Sustainability of the coffee sector in Africa, International Coffee Organization, London, England, (available at: available at: http://www.ico.org/documents/cy2014-15/icc-114-5e-overviewcoffee-sector-africa.pdf)
14. International Trade Centre. (2016): Trade statistics for international business development. International Trade Centre, Geneve, Switzerland, (available at: http://www.trademap.org/Country_SelProduct.aspx)
15. Isaksson, O. H. D., Seifert, R.W. (2014): Inventory leanness and the financial performance of frms, Production Planning & Control: The Management of Operations, vol. 25, no. 12, Taylor & Francis, USA, pp. 999-1014
16. Jacob, H. E. (1998): Coffee: the epic of a commodity, N.J Burford Books, Short hills, USA.
17. Jensen, M. C., Murphy, K. J. (1990): Performance pay and top-management incentives. Journal of Political Economy. vol. 98, no. 1, The University of Chicago Press Journals Division, Chicago, USA, pp. 225-264.
18. Kimmel, P., Weygandt, J., Kieso, D. (2012): Accounting, John Wiley, New Jersey, USA.
19. Kuntluru, S., Muppani, V. R., Khan A. M. (2008): Financial performance of foreign and domestic owned companies in India. Journal of Asia Pacifc Business, vol. 9, no. 1,Taylor & Francis, London, England, pp. 28-54.
20. Lwiki, T., Ojera, P., Mugenda, N., Wachira, V. (2013): The impact of management practice on fnancial performance of sugar manufacturing frms in Kenya, International Journal of Business, Humanities and Technology, vol. 3, no. 5, Center for Promoting Ideas, USA, pp. 75-87.
21. Mihajlović, M., Krstić, S., Šegrt, S., Pavlović, D., Jovanović, D., Simeunović, T. (2016): Economic analysis of the influence of milk market concentration on procurement effciency in the defense system. Economics of Agriculture. no. 3, Institute of Agricultural, Belgrade, Serbia, pp. 973-985.
22. Molyneux P., Thornton. J. (1992): The determinants of European bank proftability, Journal of Banking and Finance, vol. 16, no. 6, Elsevier, Amsterdam, Netherlands, pp. 1173-1178.
23. Nuševa, D. (2012): Institutional regulation of the world coffee market – crisis and perceptives, doctoral dissertation, University of Novi Sad, Faculty of Economics in Subotica, Serbia.
24. Oster, S.M. (1999): Modern Competitive Analysis, Oxford University Press, Oxford, England.
25. Pratheepan, T. (2014): A Panel data analysis of proftability determinants: Empirical results from Sri Lankan manufacturing companies, International Journal of Economics, Commerce and Management. vol. 2, no. 12, IJECM, Rochester, United Kingdom, pp. 1-9
26. Sereke-Brhan, H. (2010): Coffee, Culture, and Intellectual Property: Lessons for Africa from the Ethiopian Fine Coffee Initiative. The Pardee Papers, no. 11, Boston University, pp. 1-37.
27. Statistical Offce of the Republic of Serbia. (2016): Statistical Yearbook. Statistical Offce of the Republic of Serbia, Belgrade, Serbia.
28. Stierwald, A. (2010): The causes of proft heterogeneity in large Australian frms. Working paper No. 7/10. Melbourne Institute of Applied Economic and Social Research, University of Melbourne, Melbourne, Australia.
29. Titman, S., Wessels, R. (1988): The determinants of capital structure choice. Journal of Finance. vol. 43, John Wiley & Sons, Hoboken, USA, pp. 1-19.
30. Vuković, B., Mijić, K., Spahić, N. (2015). Concentration of Tobacco Market: Evidence from Serbia. Economics of Agriculture, no. 2, Institute of Agricultural, Belgrade, Serbia, pp. 385-398.
31. Walsh, C. (2008): Key Management Ratios, Prentice Hall, London, England.
32. Ward, P. (2005): Federal Trade Commission – law, practice and procedures, Law journal press, New York, USA.
33. Whited, T. (1992): Debt, liquidity constraints and corporate investment: evidence from panel data. Journal of Finance. vol. 47, John Wiley & Sons, Hoboken, USA, pp. 1425-1460.
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Published
2017-01-31
How to Cite
Nuševa, D., Mijić, K., & Jakšić, D. (2017). THE PERFORMANCES OF COFFEE PROCESSORS AND COFFEE MARKET IN THE REPUBLIC OF SERBIA. Economics of Agriculture, 64(1), 307–322. https://doi.org/10.5937/ekoPolj1701307N
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