Gestão de riscos do agronegócio no contexto cooperativista

• Autor(a) principal: Moreira, Vilmar Rodrigues
• Data de Publicação: 2009
• Tipo de documento: Tese
• Idioma: por
• Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
• Texto Completo: https://hdl.handle.net/10438/4610
• topic: Agronegócio; Cooperativismo; Gestão de riscos; Fronteiras de eficiência; Agrobusiness; Cooperatives; Risk management; Efficiency frontiers; Administração de empresas; Cooperativas agrícolas - Administração; Agroindústria - Brasil; Administração de risco; Eficiência industrial

This work discusses the administration of the agribusiness’ risks under the perspective of the agricultural cooperatives, with emphasis to the market risks. The empirical analysis has been carried out in an exploratory way which secondary data concerning Paraná’s agricultural production have been analyzed. Based on this and the published theory about cooperatives and agribusiness’ risks, three research questions have been examined in this study: (i) What are the necessary changes in order to improve the economical efficiency (defined in this work as the trade-off between return and risk) of the portfolio of agricultural commodities production of Paraná? (ii) Considering the absorption capacity of production, do the cooperatives play an effective role on the market risk management of the agribusiness through the influence in the production and commercialization decision? (iii) What is the influence of the cooperative doctrine, represented by the social objective of the cooperatives, in the efforts aiming at diversification as managerial response to cope with agribusiness’ market risks? The alternatives for changes in the agricultural production portfolio of the State have been analyzed through the build of an efficiency frontier by an E-V analysis, generated from the Markowitz model. It was verified that for some cultures their production levels would have to be changed substantially (to more or to less), in order to decrease the associated risk of the total gross margin. Therefore, with the development of the E-V model, it was possible to find options of efficient portfolios that improve the return-risk relationship of the agribusiness of the studied region, through the definition of two sceneries of improvement of the market risks. With the use of questionnaires and interviews, it was possible to evaluate the acceptance by the cooperatives for incentives to changes seeking those sceneries. Besides, it was also possible to evaluate which the importance degree, attributed by cooperatives managers, to the several types and sources of risks that the people involved in the agribusiness face in their operations. It has been also evaluation the relevance degree attributed to several managerial answers towards the presented group of risks. The achievement of the research’s stages, that comprised the research objectives, has allowed to make a framework of the agribusiness’ risk management in the cooperative context and to answer the proposed questions at the same time. Furthermore, the empirical evaluation of some assumption defended by cooperative theory specially in Brazil, such as the social function and the influence of the cooperative doctrine in economical decision regarding production and diversification, points out the contribution of this study to the development of theory about risk management in the cooperative context.