Agro-industrial Companies Research Articles

The Effect of Application of PSAK 69: Agriculture on Assets Biological against the Company Value of Agro-Industry in Indonesia Stock Exchange

The treatment of biological assets has undergone a transformation which was previously measured using a cost-based approach, until January 1, 2018, the new rules of PSAK 69: Agriculture were effectively enforced, which implies fair value-based implementation. The existence of this new policy can affect several aspects of the company both in policy and in financial aspects, namely the resulting gain and loss on adjustments to biological assets. This will potentially affect the value of a company. This study reveals the facts related to whether there is an effect of the impact of the application of PSAK 69 on the value of the company that applies it. The quantitative approach is used and supported by secondary data collected through documentation techniques. The research sample was selected by purposive sampling method. The population of the research data was 21 agro-industrial companies listed on the IDX. Then as many as 15 companies (firm years) were declared to meet the sample criteria. This study is accompanied by two control variables: leverage and profitability. Data processing using statistical applications includes descriptive statistical test analysis techniques, classical assumption test, linear regression test, and hypothesis testing. The conclusions found by researchers are that there is a significant positive effect of the application of PSAK 69 on the value of agro-industrial firms, as well as the influence of leverage and profitability on firm value. Thus, the application of PSAK 69 can affect the increase or decrease in the value of agro-industrial companies.

Развитие свиноводства и анализ современного рынка свинины в России

Pig breeding is one of the key areas for the development of livestock meat production both in Russia and in the world. According to forecasts of various agro-industrial companies and information and analytical agencies, by the end of 2020, pork production was predicted to grow similar to that in 2019, which was 5,1% (or more than 192,6 thousand tons, in slaughter weight, compared to 2018). This would represent more than a third of the total meat production in Russia, which was estimated at 11,04–11,22 million tons (as compared to 10,9 million tons in 2019). According to preliminary data from the Ministry of Agriculture of the Russian Federation (dated February 4, 2021), pork production increased "at 8.9% by 2019, which in live weight is +446 thousand tons", while the total meat production in Russia in 2020 reached 15,6 million tons, an increase of 3,1% (+472 thousand tons) more than in 2019. These indicators significantly exceed the forecasts indicated above, which is associated with the implementation of investment projects (primarily with state participation) in this direction and "expansion of export opportunities for Russian suppliers" in 2020. Despite the sanctions, coronavirus and other global challenges to the Russian economy, pork has been the "main driver" for the growth of meat production in Russia in recent years. Now our country is on the 4th line in the ranking according to the pig numbers (46.5 million heads in 2019) after China, the European Union and the United States of America. Agricultural enterprises in Russia account for 83,4% of pigs, 14,6% – on personal subsidiary plots, 2,0% – on farms. According to experts, the long-term development trend is an increase in the number of pigs in 5 years by 27,7%, in 10 years – by 36,1%, and the annual increase in pork production is planned at about 5%. Thus, in recent years, pork production has determined a positive trend in all domestic livestock farming in terms of the volume and quality of meat produced in Russia.

Indicators' selection method for implementation of sustainability reports in agro-industrial cooperatives

This work aims to propose a method to select sustainability indicators (SIs) that are most pertinent to the activities of agro-industrial cooperatives, through the study of sustainability reports in the global reporting initiative (GRI) model. The method is composed of three stages: study the report model, analyse the field of application, and select SIs that best suits the agro-industrial sector. For the selection of SI, three criteria were applied: frequency of appearance, approach to the Sustainable Development Goals (SDGs) and applicability. As a result of this study, 42 selected indicators were obtained within the economic, environmental, and social aspects. The main contribution of this paper is the systematisation of a method to select SIs aligned to the activities of agro-industrial cooperative. Another contribution is that selected indicators, also address SDGs, showing their relevance to the sustainability theme. The method was elaborated having agroindustry companies in a cooperative system, as case study. The proposed method is generic enough to be applied to other sectors that are interested in adopting the sustainability report model in the GRI criteria. The case study constitutes a guide for other companies in the process of selecting SIs.

The Role of Marketing Capability, Operations Capability, Management Practices and Environmental Investment on Agro-Industrial Environmental Performance

This study aims to investigate the role of marketing capability, operations capability, management practices and environmental investment on the environmental performance of agro-industry companies. This research conducted a survey research on all employees of 120 agroindustry companies. The samples were selected with proportionate stratified random sampling based on management level of the companies. The data were compiled from questionnaires and field observations. After the validity and reliability test, a set of classical assumptions were undergone to determine the variable relations, along with the hypothesis testing with multiple linear regression, t test and F test. The results of this study indicate that marketing capability, operations capability, management practices, and environmental investments have effects on environmental performance.

El método de costeo basado en actividades y su incidencia en la fijación del precio en las empresas agroindustriales vitivinícolas

El presente estudio tuvo como objetivo determinar si la implementación de un método de costeo basado en actividades incide en la fijación del precio en las empresas agroindustriales vitivinícolas de la provincia de Tacna. Para implementar este método, se desglosó el proceso de elaboración del vino en actividades, se determinó los inductores de costo, que fueron asignados en función del nivel de uso de recursos por actividad. La implementación de este método demostró mayor exactitud y eficiencia en la asignación de costos de producción, al identificar la variedad de vino más costosa y la más económica, favoreció la reducción de costos, fue efectivo y personalizado para determinar el margen de ganancia por variedad de vino, en consecuencia, incidió en la fijación del precio por resultar más competitivo, real y diferenciado por producto. En contraste con el sistema tradicional, que proporcionó resultados distorsionados, al efectuar una distribución equivocada del costo en base al volumen de producción, fue inexacto en procesos con distintas variedades de vino, lo que generó diferencias considerables en los costos.

Harvest date forecast for soybeans from maximum vegetative development using satellite images

ABSTRACT The knowledge of Sowing Dates (SD), Maximum Vegetative Development Dates (MVDD), and Harvest Dates (HD) of crops is important for estimating and forecasting large-scale productivity. Prior information on harvest date of crops is also useful in optimizing grain reception logistics and improving business decision-making in agro-industrial companies. This study aimed to develop a method to predict the HD of soybeans from MVDD, which was obtained from crop maps in the state of Paraná between 2011/2012 and 2013/2014 crop years. TIMESAT software was used to perform a seasonal trend analysis of enhanced vegetation index (EVI) time series from Moderate Resolution Imaging Spectroradiometer (MODIS) satellite imagery. After estimating time intervals between MVDD and HD (MH), applied to each mapped pixel, we calculated the 3 year MH average (average of the interval between MVDD and HD for the 3 crop years) for mesoregion and state levels, respectively. The MH by mesoregion was added to MVDD at a regional level, generating HDFORECAST, which is a prediction of the HD. Our results were compared with information from 44 monitored farms in the state in the 2013/2014 crop year. The findings showed that, for soybeans, MH by mesoregion can be used to predict HD with a Mean Error (ME) of 4.84 days, Mean Absolute Error (MAE) of 6.84 days, Root Mean Square Error (RMSE) of 8.12 days, Willmott modified coefficient (d) of 0.9, and Pearson correlation coefficient (r) of 0.88. Our study has produced valuable information for crop productivity models, as well as for logistics of grain transportation and storage in agro-companies, which can anticipate operations knowing when grains will be harvested and delivered to the centres.

From internationalization to local markets poverty alleviation and competitiveness in the agro-industrial sector of Latin America

The objective of this paper is to analyse the proposal that the production units of the Latin American agribusiness sector evolve from internationalization to their products offers aimed at “the local”, in response to changes in the world scenario. To achieve the objective, a documentary and secondary source analysis were carried out, regarding the impact of COVID19 on the Latin American economy at the world stage. The main result points to the transversality of the creative industries with the agro-industrial sector to encourage creativity within the local business networks that were originally oriented at indirect internationalization. Value enhancement (revaluation) through creativity of orange economy and recognition of peoples' cultural assets, diversity and intangible heritage generates wealth. This transversality contributes to the alleviation of poverty, sustainability and competitiveness of agro-industrial companies.

Effectiveness of various treatment regimens for calves with dyspepsia in Novgorod region

The situation with dyspepsia of young animals in the postnatal period in agroindustrial companies of Russia remains tense due to a high mortality rate. Specialists are not always able to cover a wide range of drugs currently available on the market, although the success in combating the disease depends on a timely introduction of highly effective drugs and various combinations of treatment regimens into practice. The paper presents the findings of studies on the use of various treatment regimens for dyspepsia of newborn calves, with the inclusion of an immunomodulator. The studies have shown high therapeutic efficacy of both antibacterial drugs Cobactan and Neopen, and their use in combination with the drug Phosprenyl. Laboratory studies of morphological and biochemical parameters of blood demonstrated significantly improved concentration and percentage of the drugs. In the course of treatment with basic drugs, the immunomodulator Phosprenyl enhanced their action and positively affected the percentage composition of the leukoformula. Daily clinical examination of young experimental animals showed that treatment with Cobactan, especially in combination with Phosprenyl, is most effective in terms of fastening recovery and safety of calves.

Integrated marketing communication strategy of innovation product kaptan and petrocas Pt petrokimia gresik

Abstract Along with the increasingly high conditions of business competition, in communicating the products of a company it is not enough to just rely on advertising media as the sole cornerstone of the company's marketing communication, but to apply Integrated Marketing Communication so that every promotional message made reaches the public. PT Petrokimia Gresik is one of the largest agro-industry companies in Indonesia, must be able to create a good marketing communication strategy to improve the brand image of its products so that they are increasingly recognized and sought after by the public, especially farmers. The research used by researchers is a qualitative descriptive study of work procedures that have been applied by companies in building marketing communication by conducting interviews and identification of marketing and sales data for further observation using a marketing communication strategy of 4-P product mix (Product, Price, Place and Promotion) and the promotion mix (marketing mix) as a benchmark in evaluating the results and improvements that need to be done by companies to improve the effectiveness of marketing programs in an effort to increase market share and sales targets.

Analisis Perbandingan Kinerja Keuangan Sebelum dan Sesudah Penerapan PSAK 69 pada Perusahaan Agroindustri di Indonesia

This study aims to determine and analyze the difference in financial performance proxied by current ratio, return on asset, and debt-to-asset ratio between pre and post-adoption of PSAK 69 of agroindustry companies in Indonesia. The research method used quantative method. Samples were choosen using purposive sampling method. Paired sample t-test as parametric test and wilcoxon signed rank test as non-parametric test are used to test and examine ther result of this research. The result of this research showed that (1) there is no difference in current ratio between pre and post-adoption of PSAK 69, (2) there is difference in return on asset between pre and post-adoption of PSAK 69, and (3) there is no difference in debt-to-asset ratio between pre and post-adoption of PSAK 69. 
 Keywords: PSAK 69, Biological Assets, Financial Performance

Availability Modeling of Sugarcane Harvesting System by Using Markov Chain

Sugarcane, as an important industrial crop, is always considered as one of the strategic commodity and supported by governments. One of the most important repairable systems in agro-industrial companies is a sugarcane harvester machine. The failures of this machine cause a delay in operations and reduce product yield and quality. This machine has a key role in sugarcane harvesting operations of the agro-industries. Availability of sugarcane harvester machine was determined by using the Markov chain method which is a robust probabilistic method according to the actual conditions of the sugarcane harvesting system in the agro-industries. The methodology outlined in this study has been utilized to 12 sugarcane harvester machines, namely CASE IH Austoft 7000. According to the results, harvesting system availability was calculated as 87.5%, 86.4%, 95.3%, and 90.4% for the first, second, third, and fourth harvesting groups, respectively. For these groups, the down probability of the system is evaluated to be 12.5%, 13.6%, 4.7%, and 9.6%, respectively. On average, the down probability was 10.1%, meaning that the machine will not be available at 10.1% of days at harvesting season. Due to the high sensitivity of the crop that delayed harvesting, agro-industry managers should try to reduce this amount by increasing system reliability and optimizing planned maintenance activities to decrease scheduled downs that have a direct effect on harvest time.

Derivados financieros y los efectos del fenómeno El Niño en la rentabilidad de las empresas pesqueras y agroindustriales peruanas

El objetivo del presente artículo fue demostrar el efecto del fenómeno El Niño (FEN) en la rentabilidad patrimonial de las empresas pesqueras y agroindustriales peruanas, y su cobertura con la adaptación de contratos de derivados. La investigación fue cuantitativa, descriptiva y explicativa, teniendo como base la cuantificación de factores que influyen en la disminución de la rentabilidad patrimonial de las empresas pesqueras y agroindustriales peruanas, en el periodo 2010 a 2018. La muestra seleccionada por convención estuvo conformada por 4 empresas que cotizan en la Bolsa de Valores de Lima. Por un lado, obteniendo los estados financieros anuales de las empresas y, por otro lado, el registro estadístico de la presencia del FEN y la temperatura de las regiones en las que están ubicadas las empresas en estudio. Teniendo, como resultado, evidencias de incidencia negativa por parte de los factores temperatura y del FEN en la rentabilidad patrimonial de las empresas, cuyos valores se exhiben en la tabla 2 y modelo (1) y el precio de la cobertura con derivados. Los resultados obtenidos muestran el efecto negativo de los factores temperatura y del FEN en la rentabilidad patrimonial de las empresas pesqueras y agroindustriales peruanas, cuyo aseguramiento es posible adoptando la contratación en OTC de opciones de venta en posición larga, que asegure la pérdida de valor en la rentabilidad de las empresas.

Модернизация организационной культуры предприятий в эпоху цифровых преобразований

Цель. Цель статьи состоит в выявлении ключевых барьеров, препятствующих эффективному развитию организационной культуры в условиях цифровой экономики, и разработке предложений по модернизации организационной культуры предприятий с использованием информационно-коммуникационных технологий.
 Методология / методика / подход. В статье использованы общенаучные методы абстракции и аналогии, индукции и дедукции, анализа и синтеза, обобщения, структурно-логический, экономико-статистические, экспертных опросов, метод анализа иерархий.
 Результаты. В статье изложены результаты проведенного эмпирического исследования для выявления современных проблем, барьеров, особенностей, тенденций и направлений модернизации организационной культуры украинских предприятий различных видов экономической деятельности. На основе метода анализа иерархий доказано, что оптимальным направлением модернизации организационной культуры предприятий является внедрение цифровых технологий, поскольку он имеет самую большую эффективность по сравнению с другими. Выявлены ключевые барьеры, сдерживающие эффективное развитие организационной культуры предприятий в эпоху цифровых преобразований, которые условно классифицированы по семи группам: кадровые, информационные, организационные, маркетинговые, образовательные, технологические, инвестиционно-финансовые.
 Оригинальность / научная новизна. Впервые предложена содержательная структура организационной культуры в цифровой экономике, основными компонентами которой являются цифровые навыки и компетентности, тип мышления и поведения, деловые взаимоотношения и источники профессиональных знаний, модели развития карьеры. Обоснована целесообразность применения комплексного подхода к цифровой модернизации организационной культуры как симбиоза и постоянной взаимосвязи факторов влияния, составляющих элементов, цифровых компетенций и навыков, информационно-коммуникационных технологий.
 Практическая ценность / значимость. Реализация предложений по модернизации организационной культуры предприятий в эпоху цифровых преобразований способствует снижению вдвое затрат времени на трудоемкие процессы по управлению персоналом; повышению уровня вовлеченности сотрудников в процесс цифровизации на 38%; оптимизации управления компетенциями и навыками; ускорению запуска новых цифровых решений на 33 %; повышению производительности сотрудников за счет применения клиентоориентированного подхода; снижению рисков при подборе персонала; повышению уровня логистического обслуживания; увеличению количества квалифицированных сотрудников; сокращению расходов на адаптацию, обучение и аттестацию персонала и управления им в результате автоматизации и оптимизации HR-процессов до 90 % и рационального инвестирования в развитие сотрудников; росту средней заработной платы сотрудников предприятий в результате оптимизации административных расходов. Результаты исследования могут быть использованы публичными агропромышленными компаниями.

Pengaruh Nilai Wajar Aset Biologis terhadap Manajemen Laba

The purpose of this study is to examine and analyze the effect of the biological asset’s fair value on the earning management in the agroindustry companies that listed at the Indonesia Stock Exchange (BEI). This research is a quantitative study using secondary data from annual and quarterly reports of agroindustry companies 2018. This study uses the dependent variable earning management which is measured by Stubben’s model, independent variable biological asset’s fair value which is measured by gains or losses from the implementation of fair value to biological assets, and control variables firm size (logarithm of total assets) and leverage (DER). The results of this study shows that the biological asset’s fair value which is implemented through the PSAK 69: Agriculture has the positive effect on the earning management, and control variables (firm size and leverage) have no effect on earning management. This results indicates that the implementation of biological asset’s fair value through PSAK 69 in agroindustry companies enhances earning management action taken by manager.
 Keywords: biological assets; earning management; fair value; PSAK 69.

Caracterización del valor nutricional de los residuos agroindustriales para la alimentación de ganado vacuno en la región de San Martín, Perú

Se realizó una caracterización nutricional de 10 residuos agroindustriales disponibles en San Martín, Perú. Se colectaron 19 muestras de residuos provenientes de 11 plantas agroindustriales dedicadas a la producción de aceite de palma, arroz, cacao, café, coco y chontaduro. Se determinó la materia seca (MS), proteína cruda (PC), extracto etéreo (EE), fibra cruda (FC), extracto libre de nitrógeno (ELN), ceniza, digestibilidad aparente in vitro de la materia seca (DIVMS), fibra detergente neutro (FDN), fraccionamiento de proteína, proteína cruda utilizable (uCP), nutrientes digestibles totales (NDT) y energía neta de lactación (ENL). Se encontraron diferencias significativas entre subproductos con respecto a su potencial nutricional (p < 0,05), siendo el nielen, arrocillo y polvillo de arroz, insumos energéticos con valores altos de ENL (2,1 ± 0,02, 2,1 ± 0,02 y 1,7 ± 0,02 Mcal/kg en base seca, respectivamente) y alta DIVMS (99,3 ± 0,25 %, 90,5 ± 0,42 % y 99,0 ± 0,68 %, respectivamente). Insumos con mayor aporte proteico fueron torta de coco y cascarilla de cacao (21,9 % y 21,8 ± 1,34 % de pc, respectivamente). La fibra de palma y cascarilla de arroz fueron residuos fibrosos con menor potencial de uso por su baja DIVMS (27,8 ± 2,45 % y 27,7 ± 5,02 %, respectivamente) y alto contenido de FDN (69,8 ± 4,17 % y 72,6 ± 6,45 %, respectivamente). La cáscara de palmito tuvo regular DIVMS (57,2 %) y alto FDN (60,4 %). Los residuos agroindustriales de San Martín tienen un variado potencial energético y proteico de utilidad en la alimentación de ganado vacuno.

Karakteristik Perusahaan dan Pemilihan Kebijakan Akuntansi

This research focuses on the relationship between firm characteristics and the choice of accounting policies by examining their accounting-policy disclosure Agroindustrial companies registered in Southeast Asia are represented by Malaysia, Thailand and Indonesia. This research uses positive accounting theory and agency theory. The research investigates managers’ decisions related to accounting methods using panel data from the year 2014-2018. This study uses a sample of Agro-industry companies in 3 countries in ASEAN during the 2014-2018 period.Thirty companies listed on Bursa Malaysia, Stock Exchange of Thailand and Bursa Efek Indonesia were analyzed by using random-effect model. The result shows that financial leverage and ownership concentration are significant determinants of accounting policy choice. However, this paper did not find a significant relationship between accounting policy choices and profitability, firm size, investment opportunity set, and assets-in-place. The results of the study were also influenced by global commodity market that is experiencing a decline in the last three years. Keywords: ASEAN; Accounting Policy Choices; Firm Characteristics; Income; Agroindustry; Earnings Management

Evaluating the effectiveness of mergers and acquisitions for agribusiness companies

This research is aimed at improving the efficiency of evaluating mergers and acquisitions for companies in the agro-industrial complex. When evaluating these transactions, it is necessary to take into account their impact on the environment. The paper analyzes the problems associated with the evaluation of these transactions and identifies ways to improve the evaluation methods. The authors ' approach to evaluating acquisitions based on the assessment of changes in the company's potential is intended to improve the accuracy of the assessment and reduce the risks of revaluation of discounted cash flow from acquisitions. Assessment of potential changes as a result of the implementation of integration projects will allow assessing the economic impact of takeover options, taking into account the environmental consequences for the territory. The proposed approach is aimed at more accurate accounting for changes in intellectual capital of the combined company as a result of integration. Rationalization of the evaluation of the effectiveness of acquisitions will allow owners and management of agro-industrial companies to reduce the risks of making ineffective decisions.

Effectiveness of mergers and acquisitions for agribusiness companies

This research is aimed at improving the efficiency of evaluating mergers and acquisitions for companies in the agro-industrial complex. When evaluating these transactions, it is necessary to take into account their impact on the environment. The paper analyzes the problems associated with the evaluation of these transactions and identifies ways to improve the evaluation methods. The authors ‘ approach to evaluating acquisitions based on the assessment of changes in the company’s potential is intended to improve the accuracy of the assessment and reduce the risks of revaluation of discounted cash flow from acquisitions. Assessment of potential changes as a result of the implementation of integration projects will allow assessing the economic impact of takeover options, taking into account the environmental consequences for the territory. The proposed approach is aimed at more accurate accounting for changes in intellectual capital of the combined company as a result of integration. Rationalization of the evaluation of the effectiveness of acquisitions will allow owners and management of agro-industrial companies to reduce the risks of making ineffective decisions.

Economic potential of agroindustrial enterprises and their impact on the environment

The authors propose an approach to quantifying the potential and intellectual capital of agro-industrial companies. When evaluating the activities of these companies, it is necessary to take into account their impact on the environment. The use of such an universal indicator of the effectiveness of activities as a change in the company’s potential will allow taking into account the environmental consequences for the region and territory of the company’s economic performance. The paper identifies problems of assessing the potential and intellectual capital of companies. It is proposed to get an assessment of the economic potential of an agro- industrial complex company based on an analytical determination of the probable market price of this company. To do this, the authors suggest using a modified revenue approach to business valuation. Quantitative assessment of economic potential will allow evaluating the company’s intellectual capital as a whole, as well as the components of intellectual capital (human capital, structural capital, and client capital). The proposed approach suggests that when evaluating the company’s potential, the sum of the net present values of the most preferred projects and the potential residual value of this entity at the end of the project planning period should be taken into account.

Peramalan Permintaan Toza Juice Strawberry Sebagai Dasar Penentuan Kebutuhan Persediaan Bahan Baku

Fruit juice is one of the favorite soft drink products in Indonesia. PT. Amanah Prima Indonesia is an agroindustry company that produces the fruit juice RTD for the HORECA market. In the company’s activities, the company will not be separated from a plan. One of the planning activities is forecast demand. The results of product demand forecast can assist in the decisions making to determine the amount of raw material inventory needs. The purpose of the research are: 1) to find out the forecast method used by the company, 2) to analyze the best demand forecast method, and 3) to analyze the optimal amount of the raw material inventory requirements based on the best forecast method results. This research used product sales data in the period of May 2016-April 2018. Demand forecast analysis used the ARIMA method and Exponential Smoothing method. Then inventory analysis used the Min-max Stock method. The result of this research shows that the forecasting system used by the company is currently unrealistic because it has big significant of difference with the actual data. The best time series model of forecast analysis acquires ARIMA model with value of MSE was smaller than DES (Holt) model. Analysis of the raw material inventory requirements with Min-Max Stock results obtain supplies the raw material of strawberry puree is 1688 kilograms, with safety stock of 106 kilograms puree, minimum stock of 830 kilograms puree, maximum stock of 1447 kilograms puree, and reorder point for the next purchase of strawberry as much as 562 kilograms.