Dopłaty do działalności operacyjnej a stabilność finansowa gospodarstw rolnych w krajach Unii Europejskiej
Operational Subsidies and Financial Stability of Farms in the European Union

Summary/Abstract: The purpose of the article was to identify financial situation if farms operatingin the European Union Member States, account taken of operating subsidies, as well asfactors that influenced the financial surplus (cash flow in operating activities). The abilityto earn a positive financial surplus was recognized as a manifestation of a farm’s financialstability. The data was sourced from FADN database and the research period coveredthe years 2009–2015. The quartile method was used for grouping Member States; economicsize of a farm was the variable used for the classification of a farm to a relevant quartile.Econometric models have been used for panel models with fixed effects. The researchshowed that farms operating in the European Union differed in terms of production factors,especially land and capital, which was reflected in the achieved economic and financialresults. Direct subsidies have been an important element of income over the years in almostall the Member States. Without subsidies, almost half of the EU farmers would not be ableto generate any income from farming. The models constructed indicated that the amountof financial surplus was influenced by various factors depending on the economic sizeof a farm. Regardless of the quartile, the direct subsidies were the inhibitor of financialsurplus.

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