Agricultural Companies Research Articles

Оценка инвестиционной привлекательности компаний АПК на основе ESG-факторов

In modern conditions, the course of sustainable development of the agro-industrial complex (AIC) is considered by the country’s leadership both in the context of solving global socioconomic problems (including improving the demographic situation) and in the logic of protecting state sovereignty. The adoption of new federal initiatives to support the industry in the near future is facilitated by the vector’s focus on import substitution in the agricultural sector and increasing agricultural exports. However, it is impossible to ensure the implementation of strategically important tasks of agricultural companies without attracting the required amount of investment. Under conditions of sanctions pressure the activity of investors may decrease. Therefore, agricultural companies need to develop a methodological approach to assessing the investment attractiveness, the use of which will allow them to get an objective picture of the current level and make appropriate management decisions. Further research to improve the methodology for assessing the investment attractiveness of agricultural companies is relevant and aimed at enhancing the investment activity in the sector. The scientific novelty of the research lies in the development of methodological approaches to the formation of a system of non-financial indicators in the context of two elements: the market environment and ESG factors for assessing the investment attractiveness of agricultural companies. The results of the research are as follows: the approaches to assessing the attractiveness have been systematized; the blocks of the methodology for assessing the investment attractiveness of agricultural companies on the basis of ESG factors have been proposed; the system of indicators for assessing the implementation of sustainable development objectives of agricultural companies and indicators for assessing the market environment has been formed; the proposed methodology has been tested at PJSC Cherkizovo Group.

BIOLOGICAL ASSET DISCLOSURE: A STUDY ON AGRICULTURAL COMPANIES IN INDONESIA

Research Purposes. This research aims to investigate the effect of biological asset intensity and the characteristics of boards of directors on the disclosure of biological assets. Research Methods The population in this study is the agriculture companies listed on the BEI using a purposive sampling method with 216 samples between 2005 and 2021. Data analysis uses multiple linear regression using STATA version 17. Research Results and Findings. The result indicates that biological asset intensity, board of directors size, and board of directors accounting expertise positively affect the disclosure of biological assets. The evidence has direct implications for companies in selecting directors, as stakeholders may demand the appointment of directors with accounting experts.

Methodology and mechanisms of sustainable development of agricultural companies on the basis of competitive advantages

The problems of ensuring sustainable development of agricultural companies on the basis of their competitive advantages have been studied. The methodology of formation and development of mechanisms of sustainable development of the company on the basis of its competitive advantages is developed and the block diagram of the algorithm realising is drawn up. The developed methodology is based on the comparison of indicators of the managed and the leading company of the agro-industrial complex and the elimination of the difference on the basis of the development of sustainable development mechanisms and competitive advantages. The concept of sustainability of agricultural companies, which defines the state of continuous, dynamic development and ensures the current and future market demand for quality agricultural products, The mechanisms of sustainable development of the company are considered as an organisational subsystem of the campaign, implementing its activities to ensure sustainable development. The originality of the study lies in the development of an algorithm for the implementation of the proposed methodology for the formation of the mechanism of sustainable development of the company, providing sustainable development of the company on the basis of its competitive advantages and benchmarking.

Assessment of sugar industry concentration level in Ukraine

The peculiarities of the functioning sugar industry and its importance for the national economy of Ukraine are considered. It is proposed to evaluate the level of industry concentration based on the calculation of relevant economic indicators to study the state of competition in the sugar industry. The dynamics of sugar production in Ukraine in general and specific enterprises in particular are analyzed. It also has been mentioned about the impact of the industry structure on the concentration level which depends on the number of operating enterprises and their size. It has been found that some difficulties with access to information on the product output by all business entities operating in the industry may arise during data collection for the calculation of the concentration indicators. It has been recommended to calculate several concentration indicators at the same time in order to obtain the most accurate and objective results of the analysis. It has been calculated the following indicators of the sugar industry concentration level: concentration ratio, four-firm concentration ratio, Herfindahl-Hirschman index, relative concentration ratio, Hall-Tideman index (Rosenbluth index). During the process of research, it has been established that the sugar industry of Ukraine in general is characterized by a moderate level of concentration, and this forces enterprises to compete with each other for consumers and suppliers of raw materials. It has been found out that there was a tendency to decrease the number of working enterprises during the studied period. There were mergers of several sugar factories and their incorporation into large integrated agricultural companies that led to an increase in their shares in the industry. Such processes helped to increase the sugar industry concentration level weakened competition between manufacturing enterprises and created opportunities for cooperation in order to strengthen their impact on the situation in the industry and achieve their own useful goals. The state, represented by the Antimonopoly Committee of Ukraine, monitors changes in the concentration level of the studied industry and takes appropriate measures considering its importance for the national economy.

A Comprehensive Review of Different Nano – Biocomposite Materials Used in The Food Packaging Industry

Nanotechnology is the ability to manipulate materials at the nanoscale, which is approximately 1300nm in size. At this scale, particles have a significantly large surface area and display unique characteristics, including electronic, optical, and catalytic properties. As a valuable tool, nanotechnology has been employed in the food industry to enhance production processes and improve food quality. It is estimated that by 2023, approximately 1400 food and agricultural companies will actively engage in research related to nanotechnology. The impact of nanotechnology on the food industry is far-reaching and encompasses various aspects such as food processing, product formulations, food safety and biosecurity. One notable advancement is in the development of intelligent, active, and smart food packaging systems. With nanotechnology, food packaging can now possess sophisticated features that help monitor freshness levels, control microbial growth, and provide other benefits that extend shelf life. This revolutionizes conventional packaging methods by promoting optimal preservation of products while maintaining high standards of safety for consumers. In conclusion, nanotechnology continues to transform the way we produce and consume food through its innovative applications in the industry. Its potential for improving efficiency and enhancing food quality makes it an essential component for future advancements in the field of agriculture and nutrition.

중국의 식량안보와 경쟁력

Judging from existing research results such as grain strength and security index, China’s food security capabilities are on the rise. In order to explore the influencing factors of food security, this study investigated the competitiveness of China’s grain sector. As a result of analyzing China’s agriculture-related industries using the agricultural value chain framework, it was confirmed that China is improving the competitiveness of the food industry by cooperating in the front and back sectors of agriculture, similar to developed countries such as the United States. In particular, China is acquiring mature agricultural companies in developed countries and playing a global leadership role in the seed and chemical sectors, thereby improving domestic grain production and expanding the global influence of Chinese agricultural companies. The results show that with the high integration of my country’s grain sector industrial chain, my country’s food security capabilities are also constantly improving, and the improvement of China’s grain industry competitiveness is directly proportional to its food security capabilities.

Investigating the parameters which influence green supply chain management in agricultural industry

The main objective of the current research is to identify and prioritize factors affecting the efficacy of green supply chain management (GSCM) in the agricultural sector in Indonesia. For this purpose, three factors of production, purchase and green transportation were considered in the green supply chain. This research is applied in terms of purpose and descriptive-quantitative in terms of data type. To collect information, both library and field methods were used, and in this way, the statistical population in this study is 415 employees of the green food manufacturing companies in Indonesia, such as: BOHAN Food , Asian Agri, Ardena Food and others, who were selected by Cochrane sampling method, and to measure information from a standard 19-item questionnaire in the period of 2022-2023. A five-point Likert scale was used. To analyze the data, partial least squares method and Smart-PLS software were employed. In order to fit the reliability, Cronbach’s alpha was used and its coefficient is more than 0.7 for all research constructs. The results indicated that the performance evaluation of GSCM in the agricultural industry is significantly related to green purchasing, production, and transportation, whilst the green production is the most affecting variable. Based on the results of this research, it can be suggested to the agricultural and food companies of the studied area that, If the green supply chain is employed instead of the traditional one, the environmental performance will be maintained and the financial performance of their businesses will be improved concurrently.

TOOLKIT FOR SOCIAL RESPONSIBILITY OF BUSINESS IN THE SYSTEM OF INCLUSIVE CORPORATE MANAGEMENT OF SUSTAINABLE DEVELOPMENT OF UKRAINIAN AGRICULTURAL COMPANIES

The research subject is the social responsibility of agribusinesses in the context of current corporate governance practices. Methodology. The study uses the following methods of economic research: content analysis method (when processing scientific sources and reviewing thematic literature); abstract and logical method (when substantiating the defining principles and criteria of social responsibility of business entities in the agricultural sector); statistical observations and economical and statistical calculations (when analysing indicators of the achieved state of social responsibility of agricultural companies); abstract and logical method (when substantiating conclusions to the study). The research is aimed at finding tools to increase the social responsibility of agrarian business through the transformation of the corporate culture of agricultural management of Ukrainian companies. Conclusion. Ukraine has a strong agricultural potential. However, achieving national and global sustainable development goals, which are relevant shortly, requires a change in business values and strategic guidelines. Such values should be aimed at solving the problems of protecting the environment, preserving natural resources, improving the quality and safety of agri-food products, and improving the quality of life of the rural population. The solution to these problems is inextricably linked to voluntary, socially responsible agribusiness initiatives. The analysis carried out showed that there is a high level of agribusiness social responsibility in the management of the activities of large-scale agricultural enterprises in Ukraine, which is reflected in the voluntary non-financial reports. In small- and medium-sized agribusinesses, the perception of the need for social responsibility is limited and constrained by a lack of financial resources. The calculated indicators show a low level of social responsibility in the agricultural business of small- and medium-sized agricultural enterprises in Ukraine. The level of chemicalisation of agricultural production and ploughing of agricultural land is high. There are significant problems with the use of rural labour resources and the development of rural areas. The main problems were identified in the spectrum of irrational use of land and labour resources and the low quality of life of the population in rural areas of Ukraine. The processes of recognition of the values and benefits of socially responsible agribusiness in Ukraine are slow. As a tool for increasing the social responsibility of agribusinesses in Ukraine, a system of principles and criteria of socially responsible business is proposed for implementation in the corporate governance of Ukrainian agribusinesses.

Value Creation-Based Financial Performance, Factors Macroeconomics and its Influence on Stock Returns Agricultural Sector

The primary performance metric used by investors to evaluate the efficiency of capital investments is stock return. After the mining industry, the agricultural sector's stock price index volatility from 2015 to 2021 produced the second-lowest annualized return. Businesses can generate corporate value that is closely tied to stock returns by utilizing value creation-based performance analysis (EVA, MVA, Q-Tobin). Furthermore, stock returns may also be impacted by outside variables. The objectives of this study are to: (1) examine the financial performance of agricultural companies using Q-Tobin, MVA, and EVA; (2) examine the relationship between Q-Tobin, MVA, and EVA and macroeconomic factors (exchange rates and inflation) on stock returns in the agricultural sector; and (3) draw managerial conclusions from the analysis's findings. Eight companies in the agricultural sector that were listed on the Indonesia Stock Exchange prior to 2015 provided the data. In order to ascertain the impact of macroeconomic variables, EVA, MVA, Q-Tobi, and panel data on stock returns, this study used descriptive analysis to evaluate the EVA, MVA, and Q-Tobi of each firm. The majority of the enterprises had negative EVAs, according to the results. However, the MVA study reveals that most businesses achieve positive MVA. The majority of the companies produce a value of q<1, according to the Q-Tobin data. Only the MVARET and Q-Tobin RET variables significantly improve stock returns, according to the REM analysis. Exchange rates, inflation, EVARET, and fictitious crises don't significantly affect stock returns.

The impact of rural revitalization policies on the diversification benefits of listed agricultural companies

This paper investigates the effect of the implementation of rural revitalization policy on the diversification of listed agricultural companies, using panel quantile model with OLS regression model, and examines the heterogeneity of tax incentives on the above effect. And the manuscript find that the regression coefficient of the explanatory variables of tax incentives is 0.3367, which is significant at 1 % level. It indicates that tax incentives have a significant positive effect on the business performance of agricultural listed companies, which in turn promotes the transformation of agricultural listed companies to modern agriculture.

The factors impacting the intermediating variable of employee engagement toward employee performance in a hybrid working model

PurposeThe purpose of this study was to investigate the factors impacting the intermediating variable of employee engagement toward employee performance in a hybrid working organization in Bangkok, Thailand.Design/methodology/approachThis study uses secondary data analysis and an archival study; the primary data were gathered from 370 employees who are working in a hybrid model environment in a private agricultural machinery company. To construct a new conceptual framework, this study adopted four frameworks from the previous research.FindingsPerceived organizational support and trust and respect in the organization are found to have a significant positive impact on employee engagement. Moreover, there is a significant positive impact of the employee engagement on employee performance in a hybrid working model.Research limitations/implicationsFor hybrid work environments, the research focused mainly on the emotional themes of perceived support, trust and respect in the organization. Therefore, there would be many factors that could possibly affect those dependence variables in any environment, which will have to be investigated more in future research. Either in the organization or in the company, many departments and business units operates for the company, but the researcher specifies only the business units or departments that now use the hybrid working model.Practical implicationsThis study focuses on a case study of an agricultural machinery company, which likely produces different results than other industries, other industries may produce different results.Social implicationsHybrid working models can blur the boundaries between work and personal life, potentially leading to increased stress and burnout. Organizations should prioritize work-life balance and employee well-being by promoting flexible schedules, encouraging breaks and time off, and providing resources for mental health support.Originality/valueThe organization which is operating among a hybrid working model, the increasing of perceived organizational support and trust and respect level, has positively increase the employee engagement toward enhancing the employee performance.

Research on Hema Fresh Agricultural Products E-commerce Operation Strategy

With the development of the economy, people's living standards continue to improve, and the requirements for food quality and food safety are also constantly increasing. More and more fresh agricultural products e-commerce companies have appeared on the market. Hema Fresh has achieved great success in the Shanghai area. A great success. After Hema Fresh successfully operated in Shanghai, it has been launched in Beijing, Hangzhou, Guangzhou and other cities one after another, providing convenience to consumers. However, Hema Fresh also encountered some problems during its development. This article first analyzes the problems encountered by Hema Fresh in the development process, mainly including: unstable product quality, low logistics and distribution efficiency, single platform partners, etc.; secondly, it uses SWOT analysis method to analyze Hema Fresh’s operation process The existing strengths, weaknesses, opportunities, and threats were analyzed; finally, based on the actual situation of Hema Fresh, a series of suggestions and countermeasures were put forward to improve its operational capabilities.

Financial performance determinants of Ukrainian agricultural companies in the pre-war period

Purpose. The purpose of the article is to identify the determinants of the financial performance of agricultural companies in Ukraine in the pre-war period.
 Methodology / approach. Panel data regression analysis, carried out using the GRETL software, was used as a research method. The financial statements of thirty Ukrainian agricultural companies over the defined period 2015–2021 were selected to be data for analysis. Three models were constructed in the article based on the use of three different dependent variables (Return on Assets, Return on Equity, Return on Sales) and seven independent variables (Current Ratio, Capital Intensity, Export Intensity, Leverage, Size, Dummy variable for agricultural sub-sectors, Dummy variable for location). The selection of the mentioned independent variables was logically substantiated by the structure of the financial reports of the Ukrainian agricultural companies and analytical system “You Control”.
 Results. The study of the determinants of financial performance of the agricultural companies is a widespread area of research among academicians, however, is characterized by quite controversial results. Some of these conclusions were refuted, but certain results were confirmed on the example of Ukrainian enterprises. The results of the panel regression analysis with respect to Models 1-3, partially are in contradiction with the conclusions of other studies regarding the impact of the determinants on the financial performance of agricultural companies. None of the chosen independent variables has a significant effect on all the dependent variables as investigated in the article, namely ROA, ROE, and ROS. This confirms the formulated in the study hypothesis regarding the availability of a unique set of financial performance determinants for agricultural enterprises for each individual country. The independent variables used in the study have the most significant impact on ROA. Primarily, ROA is significantly affected by CAPI (5 % level), EXPI (10 % level), and DVL (5 % level). The results obtained confirm a need for improving regional support and ensuring an access to capital for agricultural enterprises in Ukraine.
 Originality / scientific novelty. The originality of the conducted research lies in the study of a set of factors that influenced the financial condition of Ukrainian agrarian companies in the pre-war period, considering the peculiarities of the Ukrainian agrarian sector of the economy.
 Practical value / implications. Investors and financial institutions can benefit from the research results. By recognizing which factors have the most significant impact on financial performance, they can make more informed decisions when considering investments in Ukrainian agricultural companies. Understanding which factors influence financial performance can help in risk management for both agricultural companies and financial institutions.

Assessment of the level of competitiveness of Ukrainian agricultural holdings in international markets

Agriculture remains one of the main sectors that play an important role in both the country’s economic development and strategic security. Therefore, conducting an ongoing study of this component in the country is relevant. The purpose of the study was to determine the competitive opportunities of agricultural holdings in Ukraine. The methods of scientific cognition that were used in the work were abstract and logical, dialectical, general scientific and statistical methods, methods of historical and logical observation, analysis and synthesis. This study analyses the competitiveness of Ukrainian agricultural production, in particular by such indicators as: dynamics of gross harvest, yield and acreage of the main agricultural crops, balance of agricultural production, export of agricultural products and their processed products during 2000-2023. The methods that need to be implemented to make the agro-industrial complex competitive in the global market are also proposed. The results of this research on the competitiveness of Ukrainian agricultural holdings in international markets, and the conclusions drawn on their basis, are of significant importance, as they prove that powerful agricultural holdings operate in Ukraine, characterised by dynamic capabilities, increase their capacities, attract unused arable land, and effectively use the potential of resources and crops. In addition, the development of world markets for agricultural products is promising for agricultural holdings, because Ukraine is geographically located almost in the centre of international trade networks, and exports in some strategic areas will help agricultural enterprises avoid uncertainty and possible large losses. The assessment of agricultural holdings, namely Kernel and Myronivsky Hlibprodukt, showed that even in war conditions, agricultural companies have opportunities to develop and enter international markets. The findings obtained in the framework of the study can be used both by representatives of the public sector to form policies in this area, and by enterprises to create long-term development strategies.

NORMALIZED DIFFERENTIAL VEGETATION INDEX OF WINTER WHEAT DEPENDING ON THE RATES OF NITROGEN FERTILIZER AND NITRIFICATION INHIBITOR

The article presents the results of experimental studies of the relationship between the normalized differential vegetation index and the yield of winter wheat at different rates of nitrogen fertilizers and the nitrification inhibitor 3,4-dimethylpyrazole phosphate with сarbamide-ammonia mixture (CAM-32). Field research was carried out in 2018-2021 in the research department of the Limited Liability Agricultural Company (LLAC) "Druzhba Nova" of the Varvyn district of the Chernihiv region (department of the «Kernel» agricultural holding). Analytical and mathematical and statistical methods were used to process experimental data. The normalized differential vegetation index (NDWI) was determined from the satellite images of WorldView-2, WorldView-3, Geoeye-1 (Maxar USA). The scheme of the one-factor field experiment was the use of options with different rates of nitrogen fertilizers (N100 and N120), as well as the use of the nitrification inhibitor 3,4-dimethylpyrazole phosphate in mixture to CAM-32. The control (backgroung) option was the application of fertilizers at the rate of N10P30K40. The results of experimental studies proved that NDWI is directly correlated with the yield of winter wheat for all 4 years of research. It was established that the NDWI, on average over three summer months, was higher in 2018 in the range of 0,56-0,67 and in 2020 – 0,53-0,66. The yield of winter wheat was also higher in 2018 and 2020, namely: in 2018 from 3,72 t/ha to 8,14 t/ha and in 2020 – from 3,77 t/ha to 7,25 t/ha. The NDWI, in 2019 and 2021, averaged over three summer months according to the experiment options was lower and amounted to 0,33-0,38 in 2019, and 0,30-0,33 in 2021. This trend correlates with winter wheat yields, which were also low during this period. So, in 2019 it was 3,63 t/ha – 5,10 t/ha and in 2021 – 3,83–4,81 t/ha. The correlation coefficient between NDWI and the yield of winter wheat was high: in July and August, it was from 0,93 to 0,97 on the options with nitrogen fertilizer rates N100 and N120.

Peran Pengungkapan Aset Biologis dalam Memediasi Hubungan Profitabilitas, Ukuran Perusahaan, dan Penilaian Perusahaan

The aim of the research is to empirically prove the influence of profitability, company size, and disclosure of biological assets on company valuation. The method used in research is a quantitative method. The sample in this research was 96 observations of agricultural companies listed on the Indonesia Stock Exchange (BEI) for the 2017-2022 period. Research testing and analysis uses descriptive analysis methods and analytical analysis with multiple linear regression. Based on the test results, profitability has no effect on company assessment. Meanwhile, company size and disclosure of biological assets influence company valuation. Testing the role of biological asset disclosure as a mediating variable found that biological asset disclosure was able to mediate the relationship between company size and company valuation but was unable to mediate the relationship between profitability and company assessment.
 Keywords: Profitability; Firm Size; Biological Asset; Firm Valuation; PSAK 69

Financial support for agricultural enterprise: indicators and performance results

The goal is to assess the results of production activities of agricultural enterprise, final financial indicators and its overall financial condition, depending on the volume of state financial support. Methods – comparison of calculated levels of dynamics of economic activity of an economic entity, abstract-logical, generalizations. Results - the state of the existing mechanism for providing budgetary funds to agricultural formations is analyzed. The trends in receiving financial assistance from the state are considered based on the use of information about their goals, strategy and competitiveness. The parameters of production of crop and livestock products at the analyzed facility over the past five years have been studied; for the same period, the volumes of funding received have been indicated, the amounts of which are not stable over the years; a direct relationship between the increase in the amount of subsidies and the increase in the volume of products produced has been substantiated. The one-sided nature of the amounts of financial investments provided, which are focused mainly on the crop production industry, is noted. The author states that despite the decrease in production indicators, there is a significant increase in gross and net profit, which helps improve the financial position of the agricultural company. Conclusions - as measures to improve the system of providing financial support to agricultural producers, it is advisable to increase public investment in agricultural enterprises in priority areas, primarily for the production of livestock food products, as well as to reduce interest rates; provide for the issuance of loans for the development of livestock farming. To ensure the sustainable functioning of an agricultural enterprise, an effective economic instrument is needed, based on a combination of state regulation and self-control, and the implementation of a balanced pricing and financial and credit policy.

Analytical tools in ensuring the low-carbon development strategy of Agricultural Companies

The article is devoted to the issues of improving the analytical tools for ensuring the development strategy of agricultural organizations, taking into account ESG factors. An analysis of the legal regulation of the strategic development of the agro-industrial complex in the context of the ESG agenda was carried out, and the compliance of Russian agribusiness companies with ESG criteria was assessed. A methodological approach is proposed to justify the strategic development of agricultural companies in the context of decarbonization using SWOT analysis tools. Using the example of JSC Ochakovo, the methodology was tested and recommendations were developed for the low-carbon development of the company. For the near future, a «maxi-mini» strategy has been proposed, which consists in using the strengths of JSC «Ochakovo» to overcome external threats. The results obtained can be used to substantiate long-term management decisions, as well as to develop a low-carbon development strategy for agricultural organizations.

Artificial intelligence for forecasting sales of agricultural products: A case study of a moroccan agricultural company

This paper presents a study focused on the analysis of phytosanitary treatment sales in the Souss Massa region of Morocco. The objective of the study is to predict the sales of agricultural products, particularly crop protection solutions, aiming to optimize supply chain operations and meet customer demand effectively. Data for this study are collected from multiple sources, including the Enterprise Resource Planning (ERP) system called Microsoft Dynamics AXAPTA used by a leading agricultural company operating in the region. Information such as the date of sale, farming type, climate, and specific sales locations within the Sous Massa region is gathered. Machine learning techniques are applied for forecasting. Various regression models, including the Gradient Boosting Regressor algorithm, are employed to determine the most accurate predictor. Evaluation of the models reveals promising results, with a Mean Absolute Error (MAE) of 0.0035 and a Root Mean Square Error (RMSE) of 0.0066. The results obtained by applying various regression models, including the Gradient Boosting Regressor algorithm, demonstrate promising prediction scores. These findings contribute to the field of sales prediction in the agricultural industry while considering the impact of climate conditions, farming practices, and regional factors.

Caporalato e manodopera agricola attraverso una prospettiva intersezionale

“Caporalato” is an illicit intermediary phenomenon between agricultural labor and companies. Through an intersectional and gender perspective, this work focuses on the exploitative conditions that female laborers experience within the agri-food supply chain.