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The challenges of investing in vegetable production on the family farms in the North-east part of the Republic of Srpska
No full textПредмет истраживања у овој дисертацији представљају производно-економски модели производње одабраних врста поврћа на отвореном пољу и у заштићеном простору на породичним газдинствима у североистoчном делу Републике Српске. Основни циљ истраживања је анализа изазова инвестирања у производњу анализираног поврћа. Током три узастопне године праћени су инпути и аутпути гајења паприке, парадајза, краставца и других повртних врста на 35 породичних газдинстaва, а затим је спроведена анкета на још 85 газдинстава на којима се гаји поврће. На бази прикупљених података, састављени су економски модели производње анализираног поврћа на отвореном пољу и у заштићеном простору. Применом одговарајућих калкулативних и статистистичких метода тестиране су полазне хипотезе. Економска анализа вршена је калкулативним поступцима - Direct Costing метод, ценa коштања, Benefit – Cost, диференцијална и инвестициона калкулација, и др. Утврђено је да се праг рентабилности за парадајз у затвореном простору постиже при приносу од 55.655,17 kg/ha, односно 42% од просечног, за паприку при приносу од 100.875,00 kg/ha, односно 79% од просечног, и за краставац при приносу од 94.941,18 kg/ha, односно 76% од просечног. На отвореном пољу, најнижи праг рентабилности за обим производње је код паприке 24.636,36 kg/ha, односно 50% од просечног приноса, потом код парадајза 38.714,29 kg/ha, односно 83% од просечног приноса, док је за краставац 45.166,67 kg/ha, тј. 70% од просечног приноса. Најповољнији износ нето садашњe вредности постиже се производњом две врсте годишње у високим тунелима, тј. 105.837,50 € (модел 4). Интерна каматна стопа варира по моделима и креће се у интервалу од 32,43% до 63,38% (модел 3). Приносна вредност инвестиције је најповољнија за модел 4, а рок повраћаја се креће од 1,66 година (модел 3) до 3,22 године (модел 2). Инвестирањем у производњу две врсте поврћа годишње у полувисоким тунелима (модел 3) остварује се 4,69 € на 1,00 € инвестиционих улагања, што је знатно повољније у односу на друге моделе. Индекс профитабилности код модела 1 мањи је у односу на исти код модела 3 за 26,87%, а код модела 4 за 35,61%. Најмања вредност овог показатеља је за модел 2, а у односу на максимално остварену, мања је за 54,80%. Вишекритеријумским компромисним рангирањем (VIKOR) анализираних модела, као алтернативних инвестиција, одабран је модел 3 као оптимални. Сензитивном анализом на одабрани модел је утврђено да би се у случају повећања улагања за 30% нето садашња вредност смањила за 6%. На основу прага рентабилности, рока повраћаја уложеног капитала, нето садашње вредности и других показатеља економске анализе, може се закључити да је производња анализираног поврћа профитабилна и економски ефикасна, што је кључни изазов за инвестирање. Затим, треба истаћи да постојеће подстицајне мере, недовољно искоришћени производни капацитети, добар пласман и све веће тражње за поврћем, чине важне изазове за инвестирање. Иако резултати показују да је прозводња поврћа у заштићеном простору ефикаснија, још увек је недовољно заступљена у односу на производњу на отвореном пољу. SWOT анализом добијена су сазнања о предностима и могућностима унапређења, као и о слабостима и претњама са којима се могу срести произвођачи поврћа на породичним газдинствима и други субјекти у сектору повртарства на истраживаном подручју.The subject of research in this dissertation are productive and economic models of production selected types of vegetables in the open field and in a protected area on family farms in the north-east part of the Republic of Srpska. The main purpose of the research is to analyse the challenges of investing in the production of analysed vegetables. During the three successive years, the inputs and outputs of growing peppers, tomatoes, cucumbers and other vegetable species on 35 family farms were monitored, and then a survey was conducted on another 85 farms where vegetables are grown. Based on the data collected, economic models of production of analysed vegetables in the open field and in a protected area were composed. The initial hypotheses were tested using appropriate calculation and statistical methods. Economic analysis was performed by calculation procedures - Direct Costing Method, Cost Prices, Benefit - Cost Ratio, Differential and Investment Calculation, etc. It was found that the Break-Even Point for tomatoes in a protected area is achieved at a yield of 55,655.17 kg/ha, or 42% of the average, for peppers at a yield of 100,875.00 kg/ha, or 79% of the average, and for cucumber at a yield of 94,941.18 kg/ha, or 76% of the average. In the open field, the lowest Profitability Rate for the extent of production is 24,636.36 kg/ha for peppers, or 50% of the average yield, then 38,714.29 kg/ha for tomatoes, or 83% of the average yield, while for cucumbers it is 45,166, 67 kg/ha, or 70% of the average yield. The most advantageous amount of Net Present Value is achieved by producing two types per year in high tunnels, ie. € 105,837.50 (model 4). The Internal Rate of Return varies by model and ranges from 32.43% to 63.38% (model 3). The Present Value of Net Cash Flows is the most favourable to model 4, and The Payback Period ranges from 1.66 years (model 3) to 3.22 years (model 2). Investing in the production of two types of vegetables per year in semi-high tunnels (model 3), € 4.69 per € 1.00 of investment is achieved, which is significantly more аdvantageous compared to other models. The Profitability Index in model 1 is lower by 26.87% compared to the one in model 3, and by 35.61% to the one in model 4. The lowest value of this indicator is for model 2, and in relation to the maximum achieved, it is lower by 54.80%. By multi-criteria compromise ranking of the analysed models (VIKOR), as an alternative investment, model 3 was selected as optimal. In the case of a 30% increase in investment, a sensitive analysis of the selected model found that The Net Present value would decrease by 6%. Based on the Profitability Rate, Discounted Payback Period, Net Present Value and other indicators of economic analysis, it can be concluded that the production of analysed vegetables is profitable and economically efficient, which is a key investment challenge. In addition, it should be pointed out that the existing incentive measures, insufficiently used production capacities, good placement and increasing demand for vegetables, are important challenges for investment. Although the results show that the production of vegetables in the protected area is more efficient, it is still insufficiently represented in relation to the production in the open field. The SWOT analysis provided information on the advantages and opportunities for improvement, as well as the weaknesses and threats that can be encountered by vegetable producers on family farms and other entities in the vegetable sector in the studied area
The challenges of investing in vegetable production on the family farms in the North-east part of the Republic of Srpska
Full text linkПредмет истраживања у овој дисертацији представљају производно-економски модели производње одабраних врста поврћа на отвореном пољу и у заштићеном простору на породичним газдинствима у североистoчном делу Републике Српске. Основни циљ истраживања је анализа изазова инвестирања у производњу анализираног поврћа. Током три узастопне године праћени су инпути и аутпути гајења паприке, парадајза, краставца и других повртних врста на 35 породичних газдинстaва, а затим је спроведена анкета на још 85 газдинстава на којима се гаји поврће. На бази прикупљених података, састављени су економски модели производње анализираног поврћа на отвореном пољу и у заштићеном простору. Применом одговарајућих калкулативних и статистистичких метода тестиране су полазне хипотезе. Економска анализа вршена је калкулативним поступцима - Direct Costing метод, ценa коштања, Benefit – Cost, диференцијална и инвестициона калкулација, и др. Утврђено је да се праг рентабилности за парадајз у затвореном простору постиже при приносу од 55.655,17 kg/ha, односно 42% од просечног, за паприку при приносу од 100.875,00 kg/ha, односно 79% од просечног, и за краставац при приносу од 94.941,18 kg/ha, односно 76% од просечног. На отвореном пољу, најнижи праг рентабилности за обим производње је код паприке 24.636,36 kg/ha, односно 50% од просечног приноса, потом код парадајза 38.714,29 kg/ha, односно 83% од просечног приноса, док је за краставац 45.166,67 kg/ha, тј. 70% од просечног приноса. Најповољнији износ нето садашњe вредности постиже се производњом две врсте годишње у високим тунелима, тј. 105.837,50 € (модел 4). Интерна каматна стопа варира по моделима и креће се у интервалу од 32,43% до 63,38% (модел 3). Приносна вредност инвестиције је најповољнија за модел 4, а рок повраћаја се креће од 1,66 година (модел 3) до 3,22 године (модел 2). Инвестирањем у производњу две врсте поврћа годишње у полувисоким тунелима (модел 3) остварује се 4,69 € на 1,00 € инвестиционих улагања, што је знатно повољније у односу на друге моделе. Индекс профитабилности код модела 1 мањи је у односу на исти код модела 3 за 26,87%, а код модела 4 за 35,61%. Најмања вредност овог показатеља је за модел 2, а у односу на максимално остварену, мања је за 54,80%. Вишекритеријумским компромисним рангирањем (VIKOR) анализираних модела, као алтернативних инвестиција, одабран је модел 3 као оптимални. Сензитивном анализом на одабрани модел је утврђено да би се у случају повећања улагања за 30% нето садашња вредност смањила за 6%. На основу прага рентабилности, рока повраћаја уложеног капитала, нето садашње вредности и других показатеља економске анализе, може се закључити да је производња анализираног поврћа профитабилна и економски ефикасна, што је кључни изазов за инвестирање. Затим, треба истаћи да постојеће подстицајне мере, недовољно искоришћени производни капацитети, добар пласман и све веће тражње за поврћем, чине важне изазове за инвестирање. Иако резултати показују да је прозводња поврћа у заштићеном простору ефикаснија, још увек је недовољно заступљена у односу на производњу на отвореном пољу. SWOT анализом добијена су сазнања о предностима и могућностима унапређења, као и о слабостима и претњама са којима се могу срести произвођачи поврћа на породичним газдинствима и други субјекти у сектору повртарства на истраживаном подручју.The subject of research in this dissertation are productive and economic models of production selected types of vegetables in the open field and in a protected area on family farms in the north-east part of the Republic of Srpska. The main purpose of the research is to analyse the challenges of investing in the production of analysed vegetables. During the three successive years, the inputs and outputs of growing peppers, tomatoes, cucumbers and other vegetable species on 35 family farms were monitored, and then a survey was conducted on another 85 farms where vegetables are grown. Based on the data collected, economic models of production of analysed vegetables in the open field and in a protected area were composed. The initial hypotheses were tested using appropriate calculation and statistical methods. Economic analysis was performed by calculation procedures - Direct Costing Method, Cost Prices, Benefit - Cost Ratio, Differential and Investment Calculation, etc. It was found that the Break-Even Point for tomatoes in a protected area is achieved at a yield of 55,655.17 kg/ha, or 42% of the average, for peppers at a yield of 100,875.00 kg/ha, or 79% of the average, and for cucumber at a yield of 94,941.18 kg/ha, or 76% of the average. In the open field, the lowest Profitability Rate for the extent of production is 24,636.36 kg/ha for peppers, or 50% of the average yield, then 38,714.29 kg/ha for tomatoes, or 83% of the average yield, while for cucumbers it is 45,166, 67 kg/ha, or 70% of the average yield. The most advantageous amount of Net Present Value is achieved by producing two types per year in high tunnels, ie. € 105,837.50 (model 4). The Internal Rate of Return varies by model and ranges from 32.43% to 63.38% (model 3). The Present Value of Net Cash Flows is the most favourable to model 4, and The Payback Period ranges from 1.66 years (model 3) to 3.22 years (model 2). Investing in the production of two types of vegetables per year in semi-high tunnels (model 3), € 4.69 per € 1.00 of investment is achieved, which is significantly more аdvantageous compared to other models. The Profitability Index in model 1 is lower by 26.87% compared to the one in model 3, and by 35.61% to the one in model 4. The lowest value of this indicator is for model 2, and in relation to the maximum achieved, it is lower by 54.80%. By multi-criteria compromise ranking of the analysed models (VIKOR), as an alternative investment, model 3 was selected as optimal. In the case of a 30% increase in investment, a sensitive analysis of the selected model found that The Net Present value would decrease by 6%. Based on the Profitability Rate, Discounted Payback Period, Net Present Value and other indicators of economic analysis, it can be concluded that the production of analysed vegetables is profitable and economically efficient, which is a key investment challenge. In addition, it should be pointed out that the existing incentive measures, insufficiently used production capacities, good placement and increasing demand for vegetables, are important challenges for investment. Although the results show that the production of vegetables in the protected area is more efficient, it is still insufficiently represented in relation to the production in the open field. The SWOT analysis provided information on the advantages and opportunities for improvement, as well as the weaknesses and threats that can be encountered by vegetable producers on family farms and other entities in the vegetable sector in the studied area
The importance of cash flow analysis
Full text linkFor the economy of the Republic of Serbia, agriculture is a very relevant branch. Its significance and its place is reflected in the fact that in the creation of GDP it participates with about 6,5%. This percentage is significantly increased if one takes into account that agriculture contributes greatly to the development of other sectors of the economy, primarily to producers and processors of inputs and raw materials. In addition, it is characterized by a relatively high employee share, significant natural, technical, technological and other potentials. However, regardless of the mentioned potentials, it is evident that agricultural enterprises in Serbia do not realized the business results expected of them. For this reason, before the management, a big task which is reflected in making business decisions, which will significantly contribute to the successful operation of these companies. Significant and very useful information for the realization of the give task provides analysis of cash flows. In this regard, the main goal of the work is to look at and point out the usefulness of information obtained by analyzing cash flows. The results of the research show that the analysis of cash flows significantly enriches the information base, which significantly facilitates the decision-making and management process of the company
The impact of liquidity on the financial succes of agricultural enterprises
No full textIt is often pointed out in the literature that liquidity is one of the key determinants of a company's success. However, the impact of liquidity is not the same for all economic entities, but it largely depends on the activity in which the company is engaged. In this regard, the main preoccupation of this paper is to examine the effects of liquidity on the financial results of enterprises in the agricultural sector of Serbia. In addition to simple correlation and regression analysis, the paper used methods of parsing and comparison, as well as methods of analysis and synthesis. The results of the research clearly show that there is a weak positive correlation between liquidity and financial results of agricultural enterprises in Serbia, ie. that liquidity doesn't significantly determine the success of these companies
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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