Econometric estimation of food services supply factors

Abstract

© 2019, Research Trend. All rights reserved. The authors emphasize the key role of internal factors that determine the food services supply, and performed their econometric assessment to justify management decisions aimed at the service sector sustainable development. In order to identify the observed factors that determine the turnover of enterprises in the production of food services, the work performed a regression analysis of the 46 enterprises performance in 2017. The empirical estimates of linear models parameters of multiple regression presented in the article confirmed the hypothesis of different influence of factors determining the efficiency of food services for different social categories of enterprises. The elasticity of all studied factors is higher for restaurants and cafes, as opposed to canteens, which have more risks of sustainable development. The most significant impact on the volume of food sales has a change in the number of employees. The impact of changes in the value of fixed assets on the food sales in all the studied enterprises is in significant, there is a different impact of changes in the number of seats on the total turnover and the turnover of products of its own production. The quality of the results was tested using the Fisher test, Student test, regression equation specification error test (RESET). The results of empirical evaluations have confirmed the feasibility of the practical use of this approach to evaluate internal factors that determine the range of food services with the goal of sustainable development.