STRUKTURA I DETERMINANTY RENTOWNOŚCI KAPITAŁU WŁASNEGO W ROLNICTWIE KRAJÓW EUROPY ŚRODKOWO-WSCHODNIEJ

The article presents the infl uence of the return on equity in agricultural farms. It the audits was used Du Pont modified model and regression analysis. The data of accountancy of agricultural farms FADN made up the source material. Analysis was conducted in total EU and in central-eastern European countries. The realized analyses shows, that the return on equity in agriculture is very low and strongly differentiated. The main reason of that situation, lay in our opinion in low rentability of operational level, dependent not only on production profitability, but also in great degree on effective assets engagement. Additionally the return on equity is depreciated by the lack of financial leverage using, what is mainly determined by conservative attitude to capital engagement from outward sources in agriculture production processes, also the great financial costs affect on economic results of agricultural production. The farms from East and Middle Europe, on the very medium profitability rate reached by EU farms, shows themselves more advantageously. It comes in these countries from relatively higher rate of rentability in operational level, as well still low labour costs.