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Influence of Insurance on Competitiveness of Food Enterprises in Ukraine

Author

Listed:
  • Shirinyan Lada

    (Ph.D. in Economics, Doctor of Economic Sciences, Professor, Head of the Department of Finance, National University of Food Technologies, 68 Volodymyrska str., Kyiv, Ukraine ; tel. №: +38-097-297-79-63)

  • Arych Mykhailo

    (Ph.D. in Economics, Associate Professor, National University of Food Technologies, Kyiv, Ukraine)

  • Rohanova Hanna

    (Ph.D. in Economics, Associate Professor, National University of Food Technologies, Kyiv, Ukraine)

Abstract

Food industry enterprises (FIEs) are important players in the agricultural sector and use insurance as the tool to protect the business. The actual issue is determining the influence of insurance. The paper is devoted to the analysis of the influence of insurance on key indicators of the activity of FIEs from the viewpoint of use of insurance by the insurance market participants. The investigation methodology is based on the concept of ‘competitiveness’ of an enterprise explaining the ability to operate profitably and meet the competition. The aim of the work is to analyze the relationship between insurance costs and indicators of efficiency and competitiveness of Ukraine’s FIEs. Hypotheses concerning the propensity of FIEs with higher competitiveness to use insurance and influence of insurance on key indicators of FIEs activity have been formulated and tested. Economic-statistical analysis and correlation-regression analysis have been performed due to Microsoft Office 2013 software packages. The hypothesis about the existence of dependence between the competitiveness of FIEs and the portion of money allocated by FIEs for insurance is confirmed only for FIEs with high efficiency of business activity.

Suggested Citation

  • Shirinyan Lada & Arych Mykhailo & Rohanova Hanna, 2021. "Influence of Insurance on Competitiveness of Food Enterprises in Ukraine," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 43(1), pages 5-12, March.
    • Handle: RePEc:vrs:mtrbid:v:43:y:2021:i:1:p:5-12:n:2
    DOI: 10.15544/mts.2021.01
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    References listed on IDEAS

    as
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    4. Lajos Baráth & Raushan Bokusheva & Imre Fertő, 2017. "Demand for Farm Insurance Under Financial Constraints," Eastern European Economics, Taylor & Francis Journals, vol. 55(4), pages 357-376, July.
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    More about this item

    Keywords

    insurance; competitiveness; food industry; assets; equity; sales; costs;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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