Study of the factors determining the economic resilience of farms according to the profiles of Euro2040 farmers specific to Lithuania

2023-07-17
Study of the factors determining the economic resilience of farms according to the profiles of Euro2040 farmers specific to Lithuania

The project aims to determine which profiles of Euro2040 farmers are characteristic for Lithuania and which of them have the highest and lowest economic resilience. In order to achieve this goal, not only the profiles of Euro2040 farmers specific to Lithuania will be verified, but also a universal index for measuring economic resilience at the farm level will be created. It will be compiled by employing at least 3 multi-criteria research methods. The possible alternatives are: SAW, TOPSIS, VIKOR, COPRAS and EDAS. Psychographic latent variables that led to the best and worst results of the economic resilience index for each of the profiles of Euro2040 farmers which are characteristic to Lithuania will be determined after conducting 2 representative questionnaire surveys. Obtained data will be processed using structural equation modelling - the partial least squares method. The results of the study will not only allow identifying and verifying the profiles of Euro2040 farmers specific to Lithuania, but also will lead to calculating the level of economic resilience of each of the Euro2040 farmers profile specific to Lithuania. The reasons for the best and worse dynamics of the created economic resilience measuring index will be explained and reasons for such performance revealed. The dissemination of good practices will be encouraged through recommendations to both the farming community and policy makers by proposing to adjust the direction, extent or structure of EU financial support (intervention measures) as needed. The biggest obstacles to the increasing of the economic resilience among Lithuanian farms will be overcome by modifying the content of consultations for farmers.