Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso.
Autor(a) principal: | |
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Data de Publicação: | 2013 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Institucional da UNESP |
Texto Completo: | http://www.custoseagronegocioonline.com.br/numero4v9/opcoes%20reais.pdf http://hdl.handle.net/11449/111570 |
Resumo: | This study analyzed the economic viability of an investment in feedlot cattle on a farm in the midsize state of Goias. The research identified that different thematic studies whose interests have focused mainly on cost analysis and profitability punctual. Differently, this study used the approaches of the Discounted Cash Flow (DCF) and the Real Options Theory (ROT). The first used the projected cash flow for 10 years and a discount rate determined by CAPM at 8% p.a. for containment of heads 400. The second was modeled by the binomial model of Cox, Ross and Rubinstein (1979) incorporating the option of waiting. This methodology has not been employed in Brazilian cattle industry. The search results pointed to the economic viability of the project when considered possible scenarios for the different price ranges of the ox that state bushel. In addition, the TOR proved to be a more robust tool for investment analysis, by incorporating the flexibility of farmers to wait for the right time to make the confinement. |
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Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso.Analysis of investment in feedlot cattle in the central-western Brazil: a case studyDiscounted Cash FlowReal Options TheoryFeedlot CattleThis study analyzed the economic viability of an investment in feedlot cattle on a farm in the midsize state of Goias. The research identified that different thematic studies whose interests have focused mainly on cost analysis and profitability punctual. Differently, this study used the approaches of the Discounted Cash Flow (DCF) and the Real Options Theory (ROT). The first used the projected cash flow for 10 years and a discount rate determined by CAPM at 8% p.a. for containment of heads 400. The second was modeled by the binomial model of Cox, Ross and Rubinstein (1979) incorporating the option of waiting. This methodology has not been employed in Brazilian cattle industry. The search results pointed to the economic viability of the project when considered possible scenarios for the different price ranges of the ox that state bushel. In addition, the TOR proved to be a more robust tool for investment analysis, by incorporating the flexibility of farmers to wait for the right time to make the confinement.Univ Estadual Paulista, Univ Presbiteriana Mackenzie, Fac Ciencias Agr & Vet, BR-14884000 Jaboticabal, SP, BrazilUniv Estadual Paulista, UNESP, Fac Ciencias Agr & Vet, BR-1488400 Jaboticabal, SP, BrazilUniv Estadual Paulista, Univ Presbiteriana Mackenzie, Fac Ciencias Agr & Vet, BR-14884000 Jaboticabal, SP, BrazilUniv Estadual Paulista, UNESP, Fac Ciencias Agr & Vet, BR-1488400 Jaboticabal, SP, BrazilUniversidade Federal Rural de Pernambuco (UFRPE), Dept Letras Ciencias HumanasUniversidade Estadual Paulista (Unesp)Lopes Santos, David Ferreira [UNESP]Jurca, Fernanda Lemos [UNESP]2014-12-03T13:08:46Z2014-12-03T13:08:46Z2013-10-01info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article129-161application/pdfhttp://www.custoseagronegocioonline.com.br/numero4v9/opcoes%20reais.pdfCustos e Agronegocio on Line. Bairro de Dois Irmaos: Univ Fed Rural Pernambuco, Dept Letras Ciencias Humanas, v. 9, n. 4, p. 129-161, 2013.1808-2882http://hdl.handle.net/11449/111570WOS:000331984700008WOS000331984700008.pdf5017639694729451Web of Sciencereponame:Repositório Institucional da UNESPinstname:Universidade Estadual Paulista (UNESP)instacron:UNESPporCustos E Agronegocio On Line0.2050,182info:eu-repo/semantics/openAccess2024-06-06T14:54:17Zoai:repositorio.unesp.br:11449/111570Repositório InstitucionalPUBhttp://repositorio.unesp.br/oai/requestopendoar:29462024-06-06T14:54:17Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP)false |
dc.title.none.fl_str_mv |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. Analysis of investment in feedlot cattle in the central-western Brazil: a case study |
title |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
spellingShingle |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. Lopes Santos, David Ferreira [UNESP] Discounted Cash Flow Real Options Theory Feedlot Cattle |
title_short |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
title_full |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
title_fullStr |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
title_full_unstemmed |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
title_sort |
Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso. |
author |
Lopes Santos, David Ferreira [UNESP] |
author_facet |
Lopes Santos, David Ferreira [UNESP] Jurca, Fernanda Lemos [UNESP] |
author_role |
author |
author2 |
Jurca, Fernanda Lemos [UNESP] |
author2_role |
author |
dc.contributor.none.fl_str_mv |
Universidade Estadual Paulista (Unesp) |
dc.contributor.author.fl_str_mv |
Lopes Santos, David Ferreira [UNESP] Jurca, Fernanda Lemos [UNESP] |
dc.subject.por.fl_str_mv |
Discounted Cash Flow Real Options Theory Feedlot Cattle |
topic |
Discounted Cash Flow Real Options Theory Feedlot Cattle |
description |
This study analyzed the economic viability of an investment in feedlot cattle on a farm in the midsize state of Goias. The research identified that different thematic studies whose interests have focused mainly on cost analysis and profitability punctual. Differently, this study used the approaches of the Discounted Cash Flow (DCF) and the Real Options Theory (ROT). The first used the projected cash flow for 10 years and a discount rate determined by CAPM at 8% p.a. for containment of heads 400. The second was modeled by the binomial model of Cox, Ross and Rubinstein (1979) incorporating the option of waiting. This methodology has not been employed in Brazilian cattle industry. The search results pointed to the economic viability of the project when considered possible scenarios for the different price ranges of the ox that state bushel. In addition, the TOR proved to be a more robust tool for investment analysis, by incorporating the flexibility of farmers to wait for the right time to make the confinement. |
publishDate |
2013 |
dc.date.none.fl_str_mv |
2013-10-01 2014-12-03T13:08:46Z 2014-12-03T13:08:46Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://www.custoseagronegocioonline.com.br/numero4v9/opcoes%20reais.pdf Custos e Agronegocio on Line. Bairro de Dois Irmaos: Univ Fed Rural Pernambuco, Dept Letras Ciencias Humanas, v. 9, n. 4, p. 129-161, 2013. 1808-2882 http://hdl.handle.net/11449/111570 WOS:000331984700008 WOS000331984700008.pdf 5017639694729451 |
url |
http://www.custoseagronegocioonline.com.br/numero4v9/opcoes%20reais.pdf http://hdl.handle.net/11449/111570 |
identifier_str_mv |
Custos e Agronegocio on Line. Bairro de Dois Irmaos: Univ Fed Rural Pernambuco, Dept Letras Ciencias Humanas, v. 9, n. 4, p. 129-161, 2013. 1808-2882 WOS:000331984700008 WOS000331984700008.pdf 5017639694729451 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
Custos E Agronegocio On Line 0.205 0,182 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
129-161 application/pdf |
dc.publisher.none.fl_str_mv |
Universidade Federal Rural de Pernambuco (UFRPE), Dept Letras Ciencias Humanas |
publisher.none.fl_str_mv |
Universidade Federal Rural de Pernambuco (UFRPE), Dept Letras Ciencias Humanas |
dc.source.none.fl_str_mv |
Web of Science reponame:Repositório Institucional da UNESP instname:Universidade Estadual Paulista (UNESP) instacron:UNESP |
instname_str |
Universidade Estadual Paulista (UNESP) |
instacron_str |
UNESP |
institution |
UNESP |
reponame_str |
Repositório Institucional da UNESP |
collection |
Repositório Institucional da UNESP |
repository.name.fl_str_mv |
Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP) |
repository.mail.fl_str_mv |
|
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1803045200491184128 |