Abstract: Entrepreneurship in the area of agriculture is subject to various factors, such as nature risks (hydrologic, pests and diseases) or recently notable economic hazards with disastrous consequences for a lot of enterprises. A grave issue is, for example, a vast wage rise to which the agricultural sector fails to respond, thus threatening the existence of these companies. The article aims at analysing the way wages influence the net value-added (NVA) in the agricultural sector of V4 and identifies components with a significant impact on NVA thereof. The data set from 2004-2017 of V4 provides the relevant data, using statistical methods – Maddala-Wu Test, Akaike Information Criterion and Engle and Granger two-step method to detect the relation between the average and minimum wage of NVA. The average wage increase positively influences NVA, as contrasted with minimum wages harming MVA.
Authors: Lukáš Frýd, Veronika Machová, Jakub Horák, Pedro Pardal
Keywords: market value-added (MVA), average and minimum wage, agriculture, performance and productivity of the enterprise