Яндекс.Метрика

Issue № 10, October 2022, article № 11

Substantiation of strategic directions for the development of integrated agro-industrial entities in modern conditions

In the article, based on the analysis of theoretical and practical materials, the author substantiates the directions of development of integrated entities in the modern agro-industrial complex of Russia. The works of economic scientists devoted to the development of integrated business structures in the agricultural sector of the Russian economy are analyzed. Despite the small number of large enterprises in the Russian agro-industrial complex, large integrated agro-industrial formations show stable and sustainable development in modern conditions. An example of building a successful development strategy among large integrated agro-industrial formations in the Russian agro-industrial complex, according to the author, is the activity of ROS AGRO PLC "Rusagro" - one of the largest vertically integrated agricultural holdings in Russia. The company has identified the following areas as strategic development goals: business expansion; digital transformation and innovation; increase in retail sales; development of human capital. The conclusion is made about the significant advantages of large integrated entities in comparison with small and medium-sized organizations. The positive aspects in the development of large integrated agro-industrial entities in the modern agro-industrial complex are: savings due to the formation of a chain of processes in integration business structures, minimizing the costs of finding partners, reducing the cost of storing products, providing expanded access to financial resources, as well as reducing risks and ensuring an increase in the efficiency of production activities of economic entities that form the basis of data integrated associations. Under the current conditions, the state should play a key role in the development of these entities, and integrated business structures can be the basis of a modern agrarian economy.

Issue № 10, October 2022, article № 12

Analys is of the performance of economic activities of agricultural holdings

The functioning of integrated structures in the agricultural sector of the economy has extensive experience in the domestic practice of economic interaction. It is associated both with the organization of trusts on the basis of the product principle in the Russian Empire, with giant state farms in the Soviet period, and with financial and industrial groups during the agrarian reform of the 1990s. Today, agricultural holdings have a new institutional design as the backbone organizations of the agro-industrial complex. This actual status implies constant monitoring of their activities and the development of proposals for improving their work. The analysis of the economic activities of agricultural holdings carried out in the article showed that their share in the structure of forms of management is about a third. Based on the analysis of the results of studies of agro-holdings by domestic scientists-economists and the decisions taken by the Government of the Russian Federation, the current structure of agro-holdings as a segment of business entities in the agro-industrial complex has been identified. The article analyzes: the dynamics of the share of agricultural holdings in the structure of the main indicators of the economic activity of agricultural organizations; the share of agricultural holdings in the production of agricultural raw materials and food in the gross volume for all categories of farms in 2021, the dynamics of the number of agricultural holdings - the backbone organizations of the agro-industrial complex of Russia in 2020 and 2022; the structure of industrial specialization of agroholdings – backbone organizations of the agro-industrial complex of Russia; the dynamics of the level of profitability of agricultural holdings – backbone organizations of the main subcomplexes of the agro-industrial complex in 2020 and 2021. As a development of the methodology for express analysis of economic activity, it is proposed to conduct a study: the dynamics of the land bank, the holder of which is the totality of the type of organizations under consideration; the dynamics of the profitability of the totality of the considered types of agricultural holdings, taking into account the adjustment carried out on the basis of the mathematical distribution; dynamics of the share of agricultural holdings in the structure of employed workers in all agricultural organizations. The article also formulates proposals for improving the efficiency of public administration of agricultural holdings and their economic activities.

Issue № 10, October 2022, article № 14

Methodological approaches to the analysis of investment capital in agricultural holdings

The article discusses the issues of developing methodological approaches to conducting a comprehensive analysis of investment capital in agricultural holdings. From these positions, the proposed methodological approaches are built, which combine the analysis of possible sources of financing of investment capital, the diagnosis of cash flows from investment activities (investment capital), the movement of fixed capital, the analysis of investments in financial and human capital. The information base for the analysis of investment capital in holdings is the annual report and consolidated financial statements in accordance with international standards (IFRS). The methodology consists of six stages. As a result of the analysis, the optimal structure of investment capital for a particular company is formed. Based on the developed methodology, an analysis of investment capital in the agricultural holding of Cherkizovo Group was carried out, which allowed us to assess and identify that the company has been actively investing in real assets over the past five years, including in digital technologies and greening, and demonstrates an increase in investments in human capital. The calculation of the efficiency indicators of investment capital investments has demonstrated that even such a stable and profitable company has low profitability of production by net profit, the amount of wages, bonuses and rewards increases annually, but this is not enough to attract personnel with high competencies. Therefore, Cherkizovo Group needs to invest in real and intangible assets: for the acquisition of innovative technologies, equipment, digital technologies, in human capital to control and manage costs, tax payments and reduce the cost of production.