SUSTAINABILITY OF FARMING ENTERPRISE - UNDERSTANDING, GOVERNANCE, EVALUATION

This article gives answers to following important questions: "what is sustainability of farming enterprises" such as individual and family farms, agri-firms of different types, agri-cooperatives, etc.", "what are the mechanisms and modes of governance of sustainability of farming enterprises", and "how to evaluate the sustainability level of farming enterprise and efficiency of its governance". First, evolution of the "concept" of sustainability of farming enterprise is discussed and more adequately defined as ability of a particular enterprise to maintain its managerial, economic, social and ecological functions in a long term. Second, institutional, market, private, public and hybrid mechanisms and modes of governance of farming enterprise's sustainability are specified. Third, a specific for the conditions of East-European agriculture framework for assessing sustainability level of farming enterprise and efficiency of its governance is suggested. Ultimate goal is to assist farming enterprises' management and strategy formation as well as improvement of public policies and forms of public intervention in agrarian sector.