Toma Adrian Dinu1, Elena Stoian1, Daniela Cretu1, Marcela Stefan2

1University Of Agricultural Sciences and Veterinary Medicine Of Bucharest, Bucharest, Romania

2University of Economic Studies, Bucharest, Bucharest, Romania



The purpose of the paper is to identify trends in the profitability and the impact of subsidies upon a group of large farms. The paper analyses the main financial results of 32 big farms covering 83,300 ha located on the most fertile farmland in southern Romania. Each indicator is tracked from 2010 till 2017 and then summed up to the level of the 32 farms; the analysis is made on the aggregated level. Thus, we analyze assets, capital, debts, income, turnover, expenses, net profit, subsidies, number of employees and we computed profitability and productivity. During the eight years under review, farms are capitalizing, investing in assets, they are growing and diversifying, reducing their need for loans and their indebtedness ratio. The need for capital increases, while the assignability and attractiveness fall. The number of employees increases and their productivity drops. Subsidies go up and even profit margins are small, profitability and productivity rise and thus, farms efficiency are growing.


Professor Toma Adrian Dinu graduated at the University of Agricultural Sciences and Veterinary Medicine – UASVM Bucharest in 1987, with the qualification of Agronomic engineer. He obtained his diploma of Advanced Studies in 1995 at Ecole Nationale Superieure Agronomique de Rennes, France, with the specialisation: Economic Policies of Agriculture and Space. He got his doctor’s degree at the University of Agricultural Sciences and Veterinary Medicine Bucharest, in 1998. He becamed Full Professor in Farm Management at the USAMV Bucharest in 2008, from November 1990 being permanently employed at the Faculty of Management, Economic Engineering in Agriculture and Rural Development, UASVM Bucharest, where he is currently at the position of Dean of the Faculty of Management. With over 30 years of experience, his working experince does not include only the fields of Education and Reserch. Between 2005 and 2007 he worked as a General Director of t for Agricultural Policies in the Ministry of Agriculture and Rural Development. One of the main activities of the Directorate of Research and Quality, compound of the General Directorate, was starting the “Plan Sectorial” in agricultural research; According to this Plan there were distributed by competition to the contractors research institutes many projects (61 from 80) considered important for Romanian agriculture. This activity in the Central administration sector and the one in management and agricultural research were conducted at the same time as the main activity in Education.He is an proficient user of French language and advanced user of English language.

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The objective of the International Farm Management Association is to further the knowledge and understanding of farm business management and to exchange ideas and information about farm management theory and practice throughout the world. The IFMA is a non profit-making organisation and currently the Association has members in over 50 countries.

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