Luiz Gonzaga de Castro Junior

Fusões e Aquisições das Unidades Produtivas e da Agroindústria de Cana-de-açúcar no Brasil e nas Distribuidoras de Álcool Hidratado Etílico

As fusoes e aquisicoes no Brasil tiveram um grande salto na decada de 90 e o setor produtivo da agroindustria da cana-de-acucar foi um dos destaques. Os efeitos causados no mercado por essas transacoes podem ser positivos ou negativos, tanto para as empresas diretamente envolvidas como para a sociedade como um todo. Esta pesquisa foi realizada com o objetivo de analisar a concentracao de mercado das unidades produtivas e da agroindustria de cana-de-acucar no Brasil e dos distribuidores de alcool hidratado etilico. Foram utilizados como metodos as taxas de concentracao C4, C8, C20 e o Indice de Hirschman-Herfindahl (HHI), alem do levantamento de outros estudos e informacoes em periodicos. As unidades produtivas vem diminuindo sua concentracao, principalmente em funcao de as empresas de pequeno e medio porte terem aumentado sua escala de producao, sendo, portanto, ainda muito pulverizadas. A agroindustria tambem se mostrou muito pulverizada, apesar do intenso processo de fusao e aquisicao ocorrido entre essas empresas nos ultimos anos. Por outro lado, os distribuidores de alcool hidratado etilico vem apresentando significativa concentracao no mercado. Com tudo isso, pode-se dizer que o processo de fusao e aquisicao tende a se intensificar entre as unidades produtivas e a agroindustria processadora de cana-de-acucar no mercado nacional......Mergers and acquisitions in Brazil had improved in the 90’s, and the productive section of the sugarcane agroindustry was one of the highlights. Effects caused by these transactions in the market can be positive or negative for both companies directly involved and the society. The objective of this research is to analyze the market concentration of producing units, the agroindustry of sugarcane and the ethyl hydrous ethanol distributors in Brazil. We have used as methods the concentration rates C4, C8, C20, the Hirschman-Herfindahl Index (HHI), and researches in another studies, journals and newspapers. The productive units have been decreasing their concentration, caused mainly by the increased production scale of the small and medium companies, resulting, therefore, in still very distributive productive units. The agroindustry was also very distributive, in spite of the intense merger and acquisition process that happened among those companies over the last years. On the other hand, distributors of ethyl hydrous ethanol have improved their concentrations in the market. With all this, it can be said that the merger and acquisition process might step up among producing units and the agroindustry which process sugarcane in the domestic market.

Uma análise empírica da volatilidade do retorno de commodities agrícolas utilizando modelos ARCH: os casos do café e da soja

We examine the volatility process of the returns of two important brazilian agricultural commodities, the coffee and soy, using models of the ARCH class. The empirical results suggest strong signs of persistence and asymmetry in the volatility of both series. Furthermore, the results suggest that the design of policies that create, facilitate the access and stimulate the use of market-based hedging devices can be proper strategies for such sectors in view of the persistence of shocks and the pronounced volatility found for the returns of these commodities.

Análise da estrutura, conduta e desempenho da indústria processadora de soja no brasil no período de 2003 a 2010

Based on the Industrial Economics theory, this study aimed to analyze the soybean processing industry structure, corporate conduct and performance in Brazil. Considering the relevant market of soybean processing industry, it was analyzed the concentration index of soybean processors with sales and strategies determinants of the plants location of major companies that process soybean (Bunge, Cargill, ADM and Louis Dreyfus), analyzing changes from 1990 to 2010. To analyze the sector performance in Brazil, matrix correlation and multiple regression method of weighted least squares statistical analyses were used. Overall, in Brazil, there is still an increase trend in the number of soybeans processing plants. However, in 2010, the number of non-operating plants was higher, showing that not all processors are fully using resources. It was found that the concentration of soybean processors is not limiting the performance of the sector, but the costs have not been fully transferred by soybean producers to prices.

BIBLIOMETRIC ANALYSIS OF THE QUANTITATIVE METHODS APPLIED TO THE MEASUREMENT OF INDUSTRIAL CLUSTERS: BIBLIOMETRIC ANALYSIS OF THE QUANTITATIVE METHODS

Literature on methods for analysing interindustry interdependence and geographical concentration of firms began to multiply since the 1990s. The aim of this paper was to systematize the literature on methods and measures applied to the analysis of industrial clusters, as well as to identify trends in this knowledge field. The method used was bibliometrics, which consisted of a frequency evaluation of the publications and the relationship network between them. It was verified an exponential increase in the number of papers that composed this area, based mainly on the theories of New Economic Geography. Recently, the literature has focused on the geographic location in relation to interindustry linkages, and the frontier of knowledge has shifted from traditional methods of regional science to areas such as spatial statistics, econophysics and artificial intelligence. There are still relevant questions being explored, as Modifiable Area Unit Problem (aggregation bias), nevertheless, spatial anisotropy (directional bias) is still neglected and indicates a new research path.

Determinant factors in adopting socio-environmental certifications in coffee farms¹

Certified coffee production is an opportunity for the grower to differ his product. However, the number of certified producers is still relatively small. In order to contribute to the dissemination of accreditation among farmers, the objective of this study is to identify the factors that determine its adoption, based on a sample of certified and non-certified growers from the south of Minas Gerais, Brazil. Quantitative data were analyzed through logistic regression. Results showed that five variables were significant in explaining the certification adoption: grower’s age; role of coffee in family income; attending courses and events; computer use in the farm and crop yield. These results expand the existing knowledge about coffee certifications and can guide actions to increase the number of certified producers.

Determinantes da localização da agroindústria canavieira nos municípios de Minas Gerais

During almost all the history of Minas Gerais State, its sugarcane production always presented as complementary to other major economy activities, both inside the state and in other Central-Southern regions in Brazil. From the nineties onwards, the sugarcane activity presented a significant economic importance for the state, with the occupation of the savanna of Minas Gerais and attracting investments. This state began to have a prominence occupation in the ethanol and sugar production in Brazil. Specifically in Minas Gerais State cities, many aspects can attract the installation of mills and distilleries, with economic, social and environmental advantages and disadvantages. This paper verifies the evolution of the sugarcane agroindustry in Minas Gerais and the elements which have encouraged the location of mills and distilleries in some counties. With a multivariate logistic regression analysis, it was found that the yield, the access to water resources, the land concentration, leased agriculture properties, the availability of formal workforce and the higher income of this workforce are aspects that have determined the presence of mills and distilleries in Minas Gerais cities, which can result in beneficial or harmful effects that should be verified in future studies.