FINANCIAL RISKS AND MANAGEMENT PRACTICES IN AGRICULTURE: EVIDENCE FROM RURAL TOURISM FARMERS IN SERBIA

Marijana  Živković; Marija  Ilievska Kostadinović; Ivana Savić

doi:10.59267/ekoPolj2603897Z

Authors

Marijana Živković The Academy of Applied Studies Polytechnik, Katarine Ambrozić 3, Belgrade, Serbia https://orcid.org/0009-0009-8588-9569
Marija Ilievska Kostadinović MB University, Business and Law Faculty, Belgrade, Serbia https://orcid.org/0000-0001-7137-6177
Ivana Savić University of Adriatik, Faculty of Management Herceg Novi, Meljine, Montenegro https://orcid.org/0009-0006-3458-0009

DOI:

https://doi.org/10.59267/ekoPolj2603897Z

Keywords:

should include 4-6 key words that summarize the contents of the paper /Times New Roman, Italic, 10/

Abstract

The aim of this paper is to investigate how farm ownersengaged in rural tourism in Serbia perceive financial risks,adopt financial management practices, and evaluate theeffectiveness of those practices in mitigating financialchallenges. Data were collected through a structuredonline questionnaire administered between April and May2026, using a random sampling approach. A total of 230farm owners participated in the research. Data analysiswas conducted using SPSS 26.0, incorporating descriptivestatistics, reliability analysis, and inferential techniques. Aone-way ANOVA was employed to examine differencesacross socio-demographic groups, with Tukey HSD posthoc tests applied to identify specific contrasts. The resultsrevealed that education is a significant determinant offinancial management practices, with higher levels offormal education consistently linked to more advancedand effective approaches. Age demonstrated a nonlinear effect, as middle-aged respondents perceivedfinancial risks more strongly than both younger and oldergroups. In contrast, years of experience in rural tourismdid not significantly influence perceptions of financialmanagement practices, indicating that longevity in thesector alone does not necessarily enhance confidence inrisk mitigation.

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