Have a personal or library account? Click to login

Economic Effects of Investing in Entrepreneurial Initiatives in Rural Communities: Case Study of Greenhouse Structures Production

Open Access
|Jul 2025

References

  1. Alho, E. (2016). Survey evidence of members’ willingness to invest in agricultural hybrid cooperatives. Journal on Chain and Network Science, 16(1):41-58, https://doi.org/10.3920/JCNS2014.0006
  2. Azhaman, I. & Petryshchenko, N. (2019). Development of construction investment in the rural area. Baltic journal of economic studies, 5(2):1-9, https://doi.org/10.30525/2256-0742/2019-5-2-1-9
  3. Bedrač, M., Bele, S., Cunder, T., Kožar, M., Zhllima, E., Ognjenović, D., Vasko, Ž., Gjoshevski, D., Simonovska, A., Spahić, M., Kerolli, M., Subić, J., Kovačević, V., Paraušić, V., & Jeločnik, M. (2018). Land market development and small farms’ access to land in the pre-accession countries: final report. Standing working group for regional rural development, SWG, Skopje.
  4. Bogdanov, N., Robertson, B., Đorđević Milošević, S. & Klark, L. (2007). Small rural households in Serbia and rural non-farm economy. UNDP, Belgrade, Serbia.
  5. Brauer, R., & Dymitrow, M. (2014). Quality of life in rural areas: A topic for the Rural Development policy? Bulletin of Geography: Socio-economic Series, 25(2014):25-54, http://dx.doi.org/10.2478/bog-2014-0028
  6. Coltrain, D., Barton, D., & Boland, M. (2000). Value added: Opportunities and strategies. Arthur Capper
  7. Cooperative Center, Department of Agricultural Economics, Kansas State University, Kansas City, USA.
  8. De Guzman, M., Kim, S., Taylor, S. & Padasas, I. (2020). Rural communities as a context for entrepreneurship: Exploring perceptions of youth and business owners. Journal of Rural Studies, 80:45-52, https://doi.org/10.1016/j.jrurstud.2020.06.036
  9. De Luca, C., Tondelli, S., & Aberg, H. (2020). The Covid-19 pandemic effects in rural areas. Turning challenges into opportunities for rural regeneration. TEMA (Journal of Land Use Mobility and Environment), Special Issue, Covid-19 vs City-20, pp. 119-132.
  10. del Arco, I., Ramos Pla, A., Zsembinszki, G., de Gracia, A. & Cabeza, L. (2021). Implementing SDGS to a sustainable rural village development from community empowerment: Linking energy, education, innovation, and research. Sustainability, 13(23):12946, https://doi.org/10.3390/su132312946
  11. Donovan, J., Stoian, D. & Poole, N. (2008). A Global Review of Rural Community Enterprises: The long and winding road for creating viable businesses. Tropical Agricultural Research and Higher Education Center (CATIE), Turrialba, Costa Rica.
  12. Douglas, D. (2005). The restructuring of local government in rural regions: A rural development perspective. Journal of Rural Studies, 21(2):231-246, https://doi.org/10.1016/j.jrurstud.2005.01.003
  13. Egedy, T., Cerić, D., Konopski, M., Kučerova, S. & Kulla, M. (2015). Entrepreneurship as a potential driving force for the further development of rural areas. Studia obszarow wiejskich, 39:103-127, http://dx.doi.org/10.7163/SOW.39.7
  14. Fazzini, M. & Russo, A. (2014). Profitability in the Italian wine sector: An empirical analysis of cooperatives and investor-owned firms. International Journal of Academic Research in Accounting, Finance and Management Sciences, 4(3):130-137, doi: 10.6007/IJARAFMS/v4-i3/1059
  15. Flora, C. (2018). Rural communities: Legacy+ change. Routledge, NY, USA.
  16. Gladwin, C., Long, B., Babb, E., Beaulieu, L., Moseley, A., Mulkey, D. & Zimet, D. (1989). Rural entrepreneurship: One key to rural revitalization. American Journal of Agricultural Economics, 71(5):1305-1314, https://doi.org/10.2307/1243127
  17. Harrop, S. (2007). Traditional agricultural landscapes as protected areas in international law and policy. Agriculture, Ecosystems & Environment, 121(3):296-307, https://doi.org/10.1016/j.agee.2006.12.020
  18. IAE (2024). Economic data related to development of entrepreneurial initiative of greenhouse structures production. Internal data, Institute of Agricultural Economics, Belgrade, Serbia.
  19. Ivolga, A. & Molchanenko, S. (2014). Increase of employment and income of rural population as a factor of sustainable development of regional recreational sector. In: Cvijanovic et al. (eds.) Sustainable agriculture and rural development in terms of the Republic of Serbia strategic goals realization within the Danube region: Rural development and (un) limited resources, Institute of Agricultural Economics, Belgrade, Serbia, pp. 18-33.
  20. Ivolga, A. (2018). Rural tourism in transitional Russia’s economics: Fake or real alternative to traditional agricultural production? In: Sustainable Development: Concepts, Methodologies, Tools, and Applications, IGI Global, Hershey, USA, pp. 1330-1350, doi: 10.4018/978-1-5225-3817-2.ch059
  21. Jeločnik, M. & Subić, J. (2020). Evaluation of economic efficiency of investments in organic production at the family farms. In: Platania et al. (eds.) Course for trainers: Organic farming, eco-market and their capitalization through the entrepreneurial initiative. Alexandru Ioan Cuza University, Iasi, Romania, pp. 261-300.
  22. Jeločnik, M., Kovačević, V. & Subić, J. (2017). Co-operatives as an Element of Entrepreneurship Development in Serbian Agriculture. In: Development of entrepreneurship: Horizons of growth, Stavropol State Agrarian University, Stavropol, Russia, pp. 11-22.
  23. Jeločnik, M., Kovačević, V., & Subić, J. (2018). Importance of IPARD Component for the Financing of Rural Tourism in Serbia. In: Ivolga et al. (eds.) VI International scientific conference: Sustainable development of tourism market: International practices and Russian experience, proceeding, Stavropol State Agrarian University, Stavropol, Russia, pp. 77-86.
  24. Jeločnik, M., Subić, J. & Potrebić, V. (2022b). Economic Aspects of Investment in Wheat Processing. In: Subic et al. (eds.) Sustainable agriculture and rural development – II, Institute of Agricultural Economics, Belgrade, Serbia, pp. 301-308.
  25. Jeločnik, M., Subić, J. & Vasiljević, Z. (2023). Supporting programs for the development of cooperatives in the Republic of Serbia. Economics of Agriculture, 70(3):881-896, https://doi.org/10.59267/ekoPolj2303881J
  26. Jeločnik, M., Subić, J., & Kovačević, V. (2020). Agriculture practice as support for agro-tourism development at the family farms. In: Ivolga et al. (eds.) Innovative aspects of the development service and tourism, proceedings, Stavropol State Agrarian University, Faculty of Social and Cultural Service and Tourism, Stavropol, Russia, pp. 49-59.
  27. Jeločnik, M., Subić, J., & Zdravković, A. (2022a). Economic effects of investment in irrigation systems implementation at the small family farms. Economics of Agriculture, 69(3), 793-817, https://doi.org/10.5937/ekoPolj2203793J
  28. Kebiro, P. (2019). Effect of investment decisions on efficiency of deposit taking savings and credit cooperative societies in Nairobi County, Kenya. Doctoral dissertation, University of Nairobi, Nairobi, Kenya.
  29. Kraybill, D. & Johnson, T. (1989). Value-added activities as a rural development strategy. Journal of Agricultural and Applied Economics, 21(1):27-36, https://doi.org/10.1017/S0081305200000868
  30. Lanfranchi, M., Giannetto, C., DePascale, A. & Khachatryan, Y. (2016). A cooperative company in agriculture: Feasibility analysis of a start-up project. Finanse, Rynki Finansowe, Ubezpieczenia, 82(4):113-122, doi: 10.18276/frfu.2016.4.82/1-09
  31. Li, Y., Westlund, H. & Liu, Y. (2019). Why some rural areas decline while some others not: An overview of rural evolution in the world. Journal of Rural Studies, 68:135-143, https://doi.org/10.1016/j.jrurstud.2019.03.003
  32. Martinidis, G., Adamseged, M., Dyjakon, A., Fallas, Y., Foutri, A., Grundmann, P., Hamann, K., Minta, S., Ntavos, N., Raberg, T., Russo, S. & Viaggi, D. (2021). How clusters create shared value in rural areas: An examination of six case studies. Sustainability, 13(8):4578, https://doi.org/10.3390/su13084578
  33. Moseley, M. (2003). Rural development: Principles and practice. Sage Publications, NY, USA.
  34. Musau, M. (2016). Effect of investment decision on financial performance of savings and credit cooperatives in Kitui central sub-County, Kenya. Doctoral dissertation, School of Business and Economics, South Eastern Kenya University, Kitui, Kenya.
  35. Njegovan, Z. & Jeločnik, M. (2013). Reindustrialization of Serbian Agriculture: Toward a More Balanced and Knowledge Based Rural Development. In: Cvijanovic et al. (eds.) Sustainable Agriculture and Rural Development in Terms of the Republic of Serbia Strategic Goals Realization within the Danube Region: Achieving Regional Competitiveness, Institute of Agricultural Economics, Belgrade, Serbia, pp. 780-797.
  36. Paraušić, V., Simeunović, I. & Vuković, D. (2015). Serbian agricultural competitiveness. Geography, environment, sustainability, 8(1):16-26, https://doi.org/10.24057/2071-9388-2015-8-1-16-26
  37. Radović, G., Popović, V. & Grujić Vučkovski, B. (2024). Incentives for credit support of agriculture in the Republic of Serbia. Western Balkan Journal of Agricultural Economics and Rural Development (WBJAERD), 6(1):65-75, doi: 10.5937/WBJAE2401065R
  38. Rey, P. & Tirole, J. (2000). Loyalty and investment in cooperatives. IDEI working paper no. 123, Institut d’Économie Industrielle (IDEI), Toulouse, France.
  39. Satterthwaite, D., McGranahan, G., & Tacoli, C. (2010). Urbanization and its implications for food and farming. Philosophical transactions of the royal society B: biological sciences, 365(1554):2809-2820, https://doi.org/10.1098/rstb.2010.0136
  40. Shelenko, D., Shpykyliak, O., Balaniuk, I., Sudomyr, S. & Sukhovii, A. (2024). Cooperation in Forming the Social and Economic Welfare of Rural Territorial Communities. Management Theory and Studies for Rural Business and Infrastructure Development, 46(4):534-550, https://doi.org/10.15544/mts.2024.49
  41. Steiner, A., & Atterton, J. (2014). The contribution of rural businesses to community resilience. Local Economy, 29(3):228-244, https://doi.org/10.1177/0269094214528853
  42. Subić, J. & Jeločnik, M. (2021). Economic Effects of Public Support in Promotion of Cooperatives in Serbia. In: Popescu et al. (eds.) Competitiveness of Agro-food and environmental economy (CAFEE 2021), pp. 112-122, Faculty оf Agro-Food аnd Environmental Economics, ASE Bucharest, Romania.
  43. Subić, J. & Jeločnik, M. (2022). Economic Efficiency of Investment in Processing of Vegetables. In: Competitiveness of Agro-food and environmental economy (CAFFE 2022), ASE-FEAM, Bucharest, Romania, pp. 132-139.
  44. Subić, J. & Jeločnik, M. (2023). Economic Efficiency of Investment in Facilities and Equipment for Grains Storing. In: International Conference on Business Excellence (ICBE 2023), 17(1):1476-1486.
  45. Subić, J., Jeločnik, M., & Ivanović, L. (2011). Strategic Priorities in Rural Development of Local Communities in the Republic of Serbia. Agricultural Economics and Rural Development, 8(1):65-76.
  46. Subić, J., Jeločnik, M., & Petrović, M. (2025). Economic assessment of investments in rural infrastructure in hilly-mountain areas. In: Subic et al. (eds.) V International Scientific Conference: Sustainable agriculture and rural development, proceedings, Institute of Agricultural Economics, Belgrade, Serbia, pp. 301-316.
  47. Van der Ploeg, J., Van Broekhuizen, R., Brunori, G., Sonnino, R., Knickel, K., Tisenkopfs, T., & Oostindie, H. (2008). Towards a framework for understanding regional rural development. In: van der Ploeg, J., Marsden, T. (eds.) Unfolding webs: The dynamics of regional rural development, Royal Van Gorcum, Assen, the Netherlands, pp. 1-28.
Language: English
Page range: 687 - 701
Published on: Jul 24, 2025
Published by: Bucharest University of Economic Studies
In partnership with: Paradigm Publishing Services
Publication frequency: 1 issue per year

© 2025 Jonel Subić, Marko Jeločnik, Anna Ivolga, Vasilii Erokhin, published by Bucharest University of Economic Studies
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.