The Impact of Non-Green Forces on Net Present Value and Green Net Present Value: A Study on three Agricultural Crops

This paper aims to justify the impact of environmental factors on net present value (NPV) and green net present value (GNPV). The study takes 201 samples of family farms, including three crops such as paddy, corn, and potato. This paper adopts regression models and mediating effects to determine the impact of non-green forces on the environment and its consequences on the financial performance of agriculture farms. Empirical findings indicate that fertilizer cost, pesticide cost, air pollution cost, and water pollution cost have a statistically significant impact on evaluating net present value and green net present value for the production of paddy and corn. However, none of the non-green forces have a statistically significant impact on potato production. Furthermore, pesticide cost has a mediating effect on the net present value of paddy and potato cultivation, while only fertilizer cost affects the net present value of corn production. The empirical findings inspire governmental authorities, policymakers, agriculturists, and other stakeholders to develop alternatives to enhance productivity and profits considering the environment.