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The objective of this study was to assess the economics of the post-weaning phase and performance of Nellore calves born to dams that received protein concentrate supplementation during the final trimester of pregnancy. This research was organized into two phases: Phase I entailed a 90-day supplementation period for the dams in the last third of their pregnancy, and Phase II spanned from the birth of the calves to their weaning at 240 days. Twenty multiparous Nellore cows, subjected to fixed-time artificial insemination (FTAI), were divided into two groups: unsupplemented (US) and supplemented (SP), each comprising 10 animals. Statistical analysis was performed using an analysis of variance and the F-test with a significance level set at 0.05, within a completely randomized design. Among the parameters examined, only the total feed cost (US = BRL41.09 vs. SP = BRL112.22, P = 0.0001), effective operating cost (US = BRL872.51 vs. SP = BRL943.64, P = 0.0001), total operating cost (US = BRL925.51 vs. SP = BRL951.64, P = 0.0001), and total cost (US = BRL925.51 vs. SP = BRL996.64, P = 0.0001) were significantly affected by protein concentrate supplementation during the last third of pregnancy. Therefore, it can be concluded that while protein concentrate supplementation in the final stages of pregnancy does not influence the performance or morphological traits of calves, it does lead to increased feed and labor expenses. However, these increases do not negatively impact economic viability rates.

The role of family farming has been gaining strength, driven by debates based on sustainable rural development, the generation of work and income, contributing to food security. Organic fish farming is an activity that can be developed by these farmers to promote sustainability. From this perspective, the objective of this work is to analyze the economic/financial, environmental and social viability of fish production in an organic system in excavated ponds based on a case study. The methodology adopted to achieve the objectives has an exploratory and descriptive character, combining bibliographical research on studies analyzing organic production in general and fish farming with case studies. Over a period of sixteen months, the production of organic fish in a polyculture system was monitored, using natural foods from the property. In the analyses, economic viability analysis techniques were used: Net Present Value (NPV); Discounted Payback (PB); Internal Rate of Return (IRR); and Profitability Index (IL). The amount invested in the nurseries was R$3,220.60. The estimated value for selling the fish was R$2,477.50. In the economic/financial viability analysis, the results indicate a return from the second production cycle. In the social dimension, occupied family labor stands out and whose greatest demand is during the implementation period, while this need is low in maintenance. In the environmental analysis, the results indicated the preservation of natural resources, with the reuse of food waste produced on the property and care with water and the generation of effluents. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Exact Sciences is the property of Master Editora and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Journal of Production Engineering / Revista Brasileira de Engenharia de Produção is the property of Brazilian Journal of Production Engineering and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article makes a reflection on the progressivity of the pension policy in Brazil, based on the debate between Hoffmann (2021) and Cardoso et al. (2021a, 2021b) published in REP. The adequacy and equity dimensions should occupy a prominent space in this analysis. The empirical literature, through the calculation of the Replacement Rate and the Internal Rate of Return, provides evidence about progressivity of old-age benefits of RGPS, in the dimensions of income, sex, education and type of benefit. As for the federal RPPS, there is less clear evidence of progressivity in terms of sex, and evidence of regressivity in terms of income. [ABSTRACT FROM AUTHOR]

The economic viability of common snook culture was evaluated from a simulated marine farm with 20 cages of 225m³, with a production cycle of two years, fish with a final weight of 500g and annual production of 45 tons. To scale the production costs, the effectve operating cost (EOC), total operating cost (TOC), total production cost (TPC) were considered. The indices for evaluating profitability were the Internal Rate of Return (IRR), the Return on Capital (RC) and the Net Present Value (NPV). The TPC was USD $305,820 year-1, with USD $6.79 kg-1. Sensitivity analysis by the variation of the feed conversion rate (FCR) reinforces the importance of good production practices, such as adequate food management, use of balanced diets. The factors: juvenile price, feed cost and sales price, more dependent on the market, require a greater ability of the producer to apply commercial and marketing strategies to contain the production cost and avoid the reduction of the sales price. The high cost of installing culture structures and management equipment suggests projects with a minimum rate of attractiveness of 23%, minimum volume of 6,500m³, productivity of 20kg m-³, annual production of 65 tons, FCR below 1.6 and marketing price above USD$8.39 kg-1.

This study investigates the economic feasibility of a livestock-forest integration system between Nellore cattle and teak species implemented in Fazenda Bacaeri, in the municipality of Alta Floresta, Mato Grosso state, Brazil. The economic analysis was based on the dataset provided by the Embrapa Agrossilvipastoril and used to elaborate a cash flow, as well as on the following selected criteria, Net Present Value, Internal Rate of Return, and Profitability Index, for a Minimum Attractive Rate of 4.15% annually. The risk analysis was also carried out using the Monte Carlo probabilistic method, considering seven variables, such as the clearcut and thinning wood price, lean cattle selling price, animal acquisition and forest harvesting costs, thinning and clearcutting yield. The calculated analyzed economic indexes are as follows R$ 4,083,307.77 NPV, 6.48% IRR and 21.36% PI, which indicates the economic feasibility of the studied integration system. The risk analysis shows that this is a low-risk project since the probability of NPV being negative was calculated as 14.4%. However, no matter how efficient the risk prediction tools are, producers must have technical assistance from trained professionals to adequately interpret and mitigate the risks. The studied forest-livestock integration system is economically feasible and low risk. [ABSTRACT FROM AUTHOR]

Dairy cattle is an important sector in Brazilian economy and its sustainability may contribute towards the development of the production chain. There are few studies that investigate the effects of the use of environmentally correct technologies in the administration of dairy costs. The economic and financial feasibility for the implantation of a small photovoltaic plant and the profitability of a dairy in the northern region of the state of Minas Gerais, Brazil, are analyzed. Operational and total costs were employed to investigate its profitability. The installation of a small photovoltaic plant on the dairy premises was financially feasible due to the fact that positive net value (R$ 711.77) and return internal rate (2.68%) were slightly lower than minimum attractivity rate (2.75%). Payback time (8 years and 8 months) was lower to the plant's useful life. The photovoltaic plant reduced variable costs and was economically and financially feasible. It contributed towards an increase in crude and net profits and in the results (profit) of the dairy. [ABSTRACT FROM AUTHOR]

Copyright of Revista Producao Online is the property of Associacao Brasileira de Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Exacta is the property of Exacta - Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Transport is considered an essential element of the economy and one of the most important in the logistics cost of companies. Given this importance, the main objective of this work is to analyze the feasibility between investing in a trailer of its own or maintaining the outsourced service to make the transshipment of containers from Rio Grande/RS to Paraí/RS. The research methodology began with the analysis of the current situation of the company in the transport of containers, through data collection, and budgeting with suppliers for later analysis of the costs. Finally, the project's cash flow was prepared, which supports the calculations of the net present value, internal rate of return, and payback, enabling the analysis of the economic viability of the investment in the use of own transport. As a result, the investment is viable and profitable, with an Internal Rate of Return of 43%, and a simple payback of 2.74 years, considered small compared to the capital to be invested. [ABSTRACT FROM AUTHOR]

Front of manufacturing process improvement pursuit and the production costs reduction, the assessment of the projects financial feasibility has an important role in decisionmaking within companies. In this environment the lean six sigma methodology is increasingly strong aid in the development of improvement projects in manufacturing, but after the technical actions defined is necessary to use other methods to economic and financial evaluation in order to verify the cost-benefit from the actions implemented versus the resources needed for its implementation. In this sense this work aims at applying multiple methods of analysis of economic feasibility - among them the techniques of net present value, internal rate of return, payback and cash flow - to assess the implementation of a lean six sigma project in a small business company in the area of São Jose dos Pinhais, PR. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Administração FACES Journal is the property of Revista de Administracao FACES Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The economic viability of a bio-digestor in a broiler production unit is analyzed. Chicken coup bedding with rice bran and shavings is employed as the substrate for the generation of energy, aiming at the production of clean and renewable energy in the form of biogas and retrieval of biofertilizers. It is a sustainable model for the treatment of wastes generated by the poultry industry. Research comprised a case study through a half-structured interview. Current techniques were employed as a criterion for the evaluation of the project's economical viability: Net present price (NPP), Return internal rate (RIR), Profit index (PI), Relationship Costs Benefits (B/C), Internal rate of modified return (IRMR), Uniform Annual equivalent value (UAEV) and payback discount (PBd) by determining the minimum attractivity rate (MAR) of 9.57% per year. Results of viability analysis showed the following rates: NPP=R$ 178,304.15; RIR=13.17%; PI=1.22; B/C=3.36; IRMR=10.81%; UAEV=R$ 22,869.86; PBd=10.65 years for biogas produced from chicken coup bedding with rice bran. In the case of shavings, the following results were obtained: NPP=R$ 147,007.60; RIR=12.55%; PI=1.18; B/C=2.36; IRMR=10.81%; UAEV=R$ 18,855.67; PBd=11.57 years. Both projects were positive, although the generation of biogas from chicken coup bedding with rice bran was the better option. [ABSTRACT FROM AUTHOR]

Copyright of Revista Agrotecnologia is the property of Universidade Estadual de Goias and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Agrotecnologia is the property of Universidade Estadual de Goias and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of this study is to estimate the feasibility of payment for swine manure to small producers. For this, an economic feasibility analysis was carried out for the implementation of a biogas power plant considering three investment scenarios with different power generation capacities. Scenario 1 (C1) uses the 120 kVA motor generator (GMG) group. Scenario 2 (C2) uses the 330 kVA motor generator (GMG) group, and Scenario 3 (C3) uses the 420 kVA motor generator group (GMG). The biodigester analyzed is a model of covered pond (Canadian), with a depth of 4.5 meters, with HDPE geomembrane and a volume of 2,500m³. In the study, three tools were used to analyze the economic viability of the scenarios, the NPV (Net Present Value), the IRR (Internal Rate of Return), and the PAYBACK (Investment Recovery Time). It was concluded that the order of profitability is the scenarios: C3, C2, and C1, respectively. It was also concluded that the payment for swine manure is possible, allows the generation of extra income for the rural producer and obtains an attractive economic viability with the projects. [ABSTRACT FROM AUTHOR]

Copyright of Nova Economia is the property of Nova Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Exacta is the property of Exacta - Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Segurança Alimentar e Nutricional is the property of Universidade Estadual de Campinas - Portal de Periodicos Eletronicos Cientificos and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Agrotecnologia is the property of Universidade Estadual de Goias and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Brazilian Business Law Journal / Administração de Empresas em Revista is the property of Administracao de Empresas em Revista and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal Public Administration & Social Management / Administração Pública e Gestão Social is the property of Administracao Publica e Gestao Social and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista de Contabilidade do Mestrado em Ciências Contábeis da UERJ is the property of Editora da Universidade do Estado do Rio de Janeiro (EdUERJ) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Revista Fatec Zona Sul (REFAS) is the property of Revista Fatec Zona Sul (REFAS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of this study was to analyze the economic viability of Nile Tilapia cultivation in a semiintensive production system at a farm in the northwestern interior of Rio Grande do Sul. A field survey was carried out, to obtain data and information relevant to the study. Through the costs and revenues of the property were calculated some indicators considered essential as: Net Present Value, Payback, Internal Rate of Return and Profitability Index. At the end of the study, the calculated indices presented positive results of economic viability for rural property, since it is a long-term project, it takes five years to have a return on the amount invested. From that period, the activity is profitable. This study presents good results for all calculated indices, both NPV and IRR resulted in positive values indicating that tilapia cultivation will pay more than the minimum rate expected by rural property. [ABSTRACT FROM AUTHOR]

Given the constant investments in the poultry sector, is necessary to analyze if this type of investment is viable for the producer. Thus, the objective of the study was to analyze the financial feasibility of installing an automated aviary on a rural property in the municipality of Diamante do Oeste. The documentary research involved analysis of contracts and notes writen by producers. Through a descriptive research it was possible to identify the necessary costs for the implementation of an automated aviary, then, in a quantitative way, information was sought from the financial area, such as costs and revenues of the activity. The performed analyses involved calculations using spreadsheets in Excel, and the results found were feasible for the project. The calculated payback time was 7.44 years and it shows the time to recover the invested capital. The internal rate of return that was found is 14.12%, well above the minimum rate of attractiveness, showing that the investment will bring greater profitability than expected by poultry farmers. As for the net present value, the result of R$ 95,425.22 is positive and indicates viability. All applied capital analysis techniques have indicated that investment in an automated aviary for egg production is feasible. [ABSTRACT FROM AUTHOR]

Copyright of Revista Metropolitana de Sustentabilidade is the property of Revista Metropolitana de Sustentabilidade - RMS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The viability index of forage sorghum (BRS Ponta Negra) implantation is evaluated at different irrigation laminas (50; 75; 100; 125; 150% of evapotranspiration of culture, ETC), associated to different levels of the dead coverage with carnauba palm straw (0.00; 2.50; 3.75; 5.00; 6.25 cm). Research was undertaken at the Instituto Federal de Educação, Ciência e Tecnologia do Ceará (IFCE), campus Umirim (CE), between September 2016 and January 2017. Experimental design comprised subdivided plots, 5 x 5, with 5 replications, totaling 125 experimental units. Indexes calculated were net value (VPL), cost-benefit relationship (RB/C), Internal return rate (TIR) and discount payback (PB) for a 10-year planning. Results showed that sorghum production in culture condition was financially viable for all indicators in all irrigation laminas and levels of dead coverage, confirming a promising culture in the region. [ABSTRACT FROM AUTHOR]

Copyright of Revista Producao Online is the property of Associacao Brasileira de Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of this study was to evaluate the economic and financial viability of feeding systems for horses using Elephant-grass and corn silage, as food supplementation. The zootechnical and economic indicators for the characterization of the feeding systems were obtained together with a horse breeding farm of the Mangalarga Marchador breed. A 12-year horizon was projected for exploration of the activity and, based on the use of electronic spreadsheets, the cash flows were elaborated to verify the economic-financial viability. The economic indicators of profitability were used: net present value and internal rate of return, as well as the sensitivity and risk analyzes were performed in each feeding system. The systems were financially viable as they had a positive net present value at a 10% discount rate per year. The internal rate of return was 11.11% for the feeding system that adopted the supply of Elephant-grass, while for the feed system that used corn silage, the yield obtained was 11.46%. The purchase and sale prices of animals, especially embryo donor mares, were the items with the greatest influence on the results obtained for the net present value. The economic-financial risk for investment in food systems was classified as low. [ABSTRACT FROM AUTHOR]

Financial scenario systems on the final disposal of domestic sewage sludge are analyzed. Scenarios comprised Treatment Station, which disposes of solid residues produced for sanitary landfill, and Treatment Station that treats sewage sludge through a composting process for the production of fertilizers and the disposal of other solid wastes in the sanitary landfill. Data on inventory, infrastructure, labor, maintenance costs and warrants for functioning were obtained for the Treatment Station, with mean capacity of 3,356 m3 sludge/day. Economic indicators, net rate and internal return rate were used to analyze financial viability. Sensitiveness and risk analyses were performed to identify the items with the highest negative impact rates, coupled to financial risk, in the wake of market's simulated prices, by the Monte Carlo method. The station for the improvement of sewage sludge for the production of organic fertilizers had the best chance of receiving investments, with a 61.6% profit/year. [ABSTRACT FROM AUTHOR]

ABSTRACT The objective of this study was to develop a simulation model to analyse the technical, economic, and financial performance of using different reproductive strategies in dairy herds. Strategies simulated were: artificial insemination (AI) using conventional semen after oestrus detection (AIC), AI using sex-sorted semen after oestrus detection (AIS), timed artificial insemination (TAI) using conventional semen (TAIC), and TAI using sex-sorted semen (TAIS). The total time horizon analysed corresponded to 25 years, divided into 425 periods of 21 days. The model simulates the biological cycle that takes place within the bovine herd, and uses input information (productive parameters, investments, and reproductive program) to calculate output information (animal inventory variance, incomes, costs, and cash flow analysis). Based on the obtained cash flow, the payback period, net present value, and internal rate of return were calculated. The payback for AIC, AIS, TAIC, and TAIS occurred in 26, 27, 23, and 25 periods. The net present value and the internal rate of return per year of the investment for AIC, AIS, TAIC, and TAIS were US$ 557773 and 59.44%; US$ 520469 and 54.76%; US$ 741800 and 70.22%; and US$ 662891 and 63.52%, respectively. The mean culling rate over 25 years for AIC, AIS, TAIC, and TAIS was 43.30%, 64.89%, 21.12%, and 36.40%, respectively. The simulation clearly demonstrated the economic and technical benefits of using TAI in dairy herds. These benefits are greater when TAI is used with conventional semen, despite the large investment in technology that is required. Using this mathematical model, future studies could be conducted when the assessment of the technical and economic viability of new scenarios is required.

The economic viability of finishing sheep on Tanzania grass under intermittent grazing was evaluated with four concentrate supplementation levels (0; 0.6; 1.2 and 1.8% LW), two herd separation systems (electric and net fence) and three pasture sizes (1.0; 3.0 and 5.0 ha). The analysis was carried out to determine the minimal necessary conditions to have a viable business. Net income, benefitcost ratio, net present value and internal rate of return with an interest of rate of 8.75% per year were verified. The total implantation cost and maintenance to each system was estimated according to Fortaleza/CE market. Sale price between R$ 2.60 to 3.20/kg LW was considered to estimate total budget. The pasture sized 1.0 ha was economically unviable for both kinds of system tested.The system with net fence was more expensive than the one with electric fence. For the systems with supplementation, data showed viability only for a sale price above R$ 3.00/kg LW and, in some cases, in areas above 5.0 ha.

O artigo objetiva analisar a viabilidade da instalação do kit GNV em veículos, sob o ponto de vista financeiro. O método empregado consiste numa pesquisa descritiva, por meio de estudo de casos. Foram analisados dois casos de conversão, realizados por uma empresa especializada na cidade de Brusque-SC, com a construção dos orçamentos de capital e o cálculo dos respectivos retornos, a partir das técnicas do valor presente líquido e da taxa interna de retorno. Os resultados da pesquisa demonstram que as instalações do kit GNV apresentaram retornos significativos para os proprietários dos veículos. Conclui-se que, de maneira geral, mesmo havendo alterações no preço do GNV, provavelmente as conversões dos veículos para esse tipo de combustível continuarão interessantes. Destaca-se que a análise foi realizada apenas do ponto de vista quantitativo, não levando em conta aspectos qualitativos. This article analyzes the financial feasibility of GNV kit installation in vehicles. The method consists of a descriptive research through cases. Two cases of conversion performed by a specialized company of Brusque-SC were analyzed, with the development of capital budgets and the respective calculation of their returns within the techniques of net present value and internal rate of return. The survey results demonstrate that GNV kit installations have brought significant returns for owners of vehicles. The overall conclusion is that even with price variations of GNV, conversions of vehicles for this type of fuel are very likely to continue being interesting for their owners. It is important to mention that the analysis was performed only on the quantitative point of view, not taking into account qualitative aspects.

Many studies have questioned empirical utilization of accounting data, as internal rates of return would be more consistent with the relevant economic concept. The paper investigates the dynamic relationships between different measures of accounting rates of return (ARRs) and an estimated internal rate of return (IRR). In contrast with the prevailing case-study investigations, we consider a panel for quoted Brazilian firms in the manufacturing industry for the 1988-3/2003-2 period. Granger causality tests are considered and the results indicate a bi-directional causality pattern when ROA (Net Profits/Total Assets) is considered as the accounting measure. This seems to indicate that there is some validity in using accounting rates of return in certain economic settings, especially when long time series are considered.

Copyright of Organizações Rurais & Agroindustriais is the property of Organizacoes Rurais & Agroindustriais and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aimed to verify the economic viability of a project involving hydroponic lettuce production in Tijucas, Santa Catarina. For data collection, ten interviews were done with the representatives of supermarkets and restaurants located in the metropolitan area of Florianópolis and, based on this information, the volume of sales of that product in those companies was determined. A greenhouse project was developed that could produce enough to meet the identified demand of hydroponic lettuce, which is around 3.840 heads of lettuce/month. The initial investment for the implementation of the project was estimated at R$54.352,42, the annual costs of the system are around R$33.091,57 and the annual gross revenue is R$62.208,00. The economic viability was analyzed using the Net Present Value (NPV), Internal Rate of Return (IRR) and discounted Payback economic indicators. The risk analysis of the investment using the sensitivity analysis was also performed. It was concluded that the project to produce hydroponic lettuce in Tijucas is economically viable, because the the NPV obtained was R$156.765,06, the IRR was 53,45% and the recovery time of the investment was 2 years and 2 months. [ABSTRACT FROM AUTHOR]

Avaliou-se financeiramente um modelo de sistema produtivo de leite produzido em pasto na região Norte Fluminense - RJ. Foi elaborada uma planilha de fluxo de caixa (horizonte de 20 anos), a partir da qual calcularam-se os indicadores: valor presente líquido (VPL a 6 e 10%) e taxa interna de retorno (TIR). Cada fator envolvido nas receitas ou nas despesas do projeto foi submetido à análise de sensibilidade para que fossem identificados aqueles com maiores pesos na redução dos indicadores calculados. Realizou-se simulação de Monte Carlo, visando avaliar a probabilidade de ocorrência para determinados valores financeiros associados ao risco de divergências nos itens do projeto. Os resultados demonstraram viabilidade financeira para o sistema proposto (VPL a 6 e 10%, R$197.880,00 e R$8.067,00, respectivamente, e TIR 10,2%). A rentabilidade foi afetada, em ordem decrescente, pelos fatores: preço do leite, aquisição de vacas nos primeiros anos do projeto, preço das vacas descartadas, mão-de-obra e preço do concentrado para os animais adultos. Os resultados da simulação de Monte Carlo demonstraram elevada probabilidade (39%) de a rentabilidade do projeto ser inferior ao rendimento da poupança, representando alto risco na adoção do sistema.The study aimed to evaluate milk production under grazing system in the North Region of Rio de Janeiro State. The net present worth (NPWs of 6 and 10%) and internal rate of return (IRR) were calculated from the cash flow chart on a 20-year basis. Sensitivity analyses were performed to evaluate the effect of the income or expense factors on the net present worth (6 and 10%) and the internal rate of return. A Monte Carlo Method was carried out to evaluate the probabilities of occurrence for certain financial values associated to the risk of deviation in the project itens. The results showed financial feasibility for the proposed system (NPWs of 6% and 10% R$197,880.00 and R$8,067.00, respectively; IRR 10.2%). The profitability was affected in decreasing order by the following factors: price of milk, purchase of cows in the first years of the project, price of culled cows, labor and the price of the concentrate for adult animals. The results of the Monte Carlo simulation indicated high probabilities (39%) of the profitability to be smaller than the interest of the saving account, showing high economic risk of the production system.

Avaliou-se o desempenho produtivo de novilhas manejadas em capim-elefante com suplementação alimentar e estudou-se a viabilidade econômica dos sistemas de produção. Utilizaram-se novilhas Holandês-Zebu com idade média de 17 meses e peso médio de 215±8kg, distribuídas nos seguintes sistemas de produção: SP1 - sem suplementação; SP2 - suplementadas com ração concentrada; e SP3 - suplementadas com leguminosa Stylosanthes guianensis, cv. Mineirão. Foram utilizadas 22 novilhas sendo 12 distribuídas nos três sistemas e as demais utilizadas como animais de equilíbrio em função da quantidade de forragem disponível. Os ganhos de peso médio diário foram 429±18g, 624±23g e 535±8g para SP1, SP2 e SP3, e os ganhos de peso diário por área de 2,38; 3,46 e 1,43kg/ha/dia, para SP1, SP2 e SP3, respectivamente. A taxa interna de retorno obtida foi 29,6%, 30,1% e 10,5% para SP1, SP2 e SP3, respectivamente. O preço de venda das novilhas foi o fator de maior impacto no desempenho econômico dos sistemas de produção.Productive and economic performance of heifers grazing elephant-grass pastures under different production systems were evaluated. Twenty-two Holstein-Zebu heifers, 17-month-old and averaging 215kg of live weight, were used. The animals were managed on elephant-grass pastures under three production systems: PS1 - without supplementation; PS2 - supplemented with concentrate feeds; and PS3 - supplemented with Stylosanthes guianensis, cv. Mineirão pasture. Twelve heifers were used as testers and 10 heifers were used as "put-and-take". The average daily gains were 429±18g, 624±23g and 535±8g for animals on PS1, PS2 and PS3, respectively. The total daily gains per hectare were 2.38, 3.46 and 1.43kg, for animals on PS1, PS2 and PS3, respectively. The calculated internal rates of return were 29.6%, 30.1% and 10.5% for PS1, PS2 and PS3, respectively. The sale price of heifers had the largest impact on the economic performance of all production systems.

O presente trabalho estudou o uso da tela de proteção ao granizo sob a perspectiva de um investimento na cultura da pêra-japonesa nas condições do Sul do Brasil. Os resultados evidenciam que, dado um risco médio de ocorrência de granizo de 10% ao ano, o seu uso se justifica para produtores que possuem disponibilidade de capital, bem como para aqueles que buscam uma constância no atendimento ao mercado.This study was carried out to analyse the economic viability of the use of a hail protection net in Japanese pear orchards in Southern Brazil. The hail has a chance of 10% to occur yearly. The use of the hail net protection did not improve the economic return. It is suggested the use when capital is not a limiting production factor, and in order to constantly supply the market.

The objective was to determine the economic feasibility and financial risk of different production systems for dairy heifers grazing on Xaraes pallisadgrass pasture, during the year, with roughage supplementation of sugarcane, during the autumn-winter and the supply of mineral mixture (commercial and selective). Each production system was characterized and quantified in accordance with the administrative and livestock realized during the period February 2006 to March 2008. The cash flows were constructed for production system in a horizon of 12 years, being applied discount rates of 6, 10, 14, 18 and 22 % per year. About the cash flows were determined economic indicators of profitability: net present value and internal rate of return. The sensitivity and financial risk analyzes were realized. The production systems showed positive net present value at a discount rate of 14 % per year, which reflects the return on capital invested, compared to savings accounts. The trading price of the heifer is the item of greatest influence on economic results. The production systems had low financial risk of becoming unviable, given the price fluctuations that occurred in the market. The production systems are financial viable to exploration. [ABSTRACT FROM AUTHOR]

Due to the importance of family farming especially in bean cultivation in the state of Paraná, Brazil, current assay evaluates the economic viability and risk of bean production on a family farm in Campo Mourão (northwestern region). Economic viability indicators have been assessed, such as net present rate value (NPR), internal rate of return (IRR) and payback period (PP). Further, sensitivity analysis and risk analysis were carried out with Monte Carlo simulation method. Results indicated the project´s economic viability. Moreover, their viability was more sensitive to revenue components than that of costs. These factors did not warrant significant risk to the project's success. [ABSTRACT FROM AUTHOR]

The objective of this article is to present the deficiencies of the methods of investment analysis Internal Rate of Return (IRR) and Net Present Value (NPV), in the classification of investment projects that have different characteristics of investment, exposing thereby the risks inherent in decision making when using only one tool in investment analysis mentioned, seeking also propose alternatives to solve these deficiencies, reducing the discrepancies between the tools. [ABSTRACT FROM AUTHOR]

In some cases it may be helpful for company divide a project in several independent subunits. This approach can occur, for example, on large projects which are identified modules with different risks, returns, raw materials, products, activities and markets. On the other hand, in the assessment of projects, consideration of real options to postpone investment and stop production temporarily is a sophisticated approach compared with the traditional Net Present Value (NPV). Thus, the objective of this paper is to present: the economic risk factors of a project divided into several independent subunits identified as relevant in the analysis of the probability distribution of NPV; the stochastic process used to simulate each of these factors; the data required for modeling the cash flows; the probability distribution of NPV using the methodology of real options to postpone investment and temporarily stop production, besides the isolated and hybrid value of these options. With these data we can find an optimized combination to the investment time of each subunits, which project NPV value is maximized. [ABSTRACT FROM AUTHOR]

The economic viability of finishing sheep on Tanzania grass under intermittent grazing was evaluated with four concentrate supplementation levels (0; 0.6; 1.2 and 1.8% LW), two herd separation systems (electric and net fence) and three pasture sizes (1.0; 3.0 and 5.0 ha). The analysis was carried out to determine the minimal necessary conditions to have a viable business. Net income, benefitcost ratio, net present value and internal rate of return with an interest of rate of 8.75% per year were verified. The total implantation cost and maintenance to each system was estimated according to Fortaleza/CE market. Sale price between R$ 2.60 to 3.20/kg LW was considered to estimate total budget. The pasture sized 1.0 ha was economically unviable for both kinds of system tested. The system with net fence was more expensive than the one with electric fence. For the systems with supplementation, data showed viability only for a sale price above R$ 3.00/kg LW and, in some cases, in areas above 5.0 ha. [ABSTRACT FROM AUTHOR]

The aim of this paper was to determine the economic viability and cultivation risk in northern Espírito Santo State and compare the economic indices with experimental irrigation data and ammonium sulfate doses. The experiment was carried out at Calima Agricola S.A. farm, in Linhares, ES. Two varieties were evaluated separately, Golden and UENF Caliman 01, in five irrigation levels, combined with four ammonium sulfate doses. The determination of indices and risks of papaya cultivation utilized the calculation of net present value, internal rate of return, sensitivity analysis and Monte Carlo method. The irrigation treatments showed significant statistical differences (p < 0.05) in relation to productivity. The ammonium sulfate and its interactions with applied irrigation depths did not present significant differences (p < 0.05) for the same variable. By means of a Monte Carlo simulation (triangular simulation), the probability of obtaining negative net present value is 63.2 and 81.4% for Golden and UENF Caliman 01, respectively. [ABSTRACT FROM AUTHOR]