Abstract Agribusiness is using several strategies to achieve sustainable development. The sustainable business models and the circular business models tools are adopted to turn agro-industrial waste into new sustainable products and business opportunities. Even if they are two different tools, the boundary between them is not strictly defined but quite flexible, making it difficult for researchers and stakeholders to discriminate among them. Helping to simplify the understanding of their boundaries, authors purpose to carry out a bibliometric comparative analysis between the sustainable business models and the circular business models in agribusiness. The study aims to underline their different and similar trends in literature. For the analysis, Bibliometrix R-Tool was used and the metadata of two databases (WoS and Scopus) were retrieved and merged. Biblioshiny was used to provide graphical outputs. Data from the two groups were compared in different analysis, such as keywords used, country’s research performance, annual scientific production, among others. It resulted that, although circular business models are more recent in comparison with sustainable business models, both present an increasing publication interest in literature and a similar geographical distribution interest about the issues. However, some interesting differences have been identified, such as the most frequent keywords plus and citation used, among others. These findings can help identify overall trends in circular and sustainable business models in agribusiness, and point out contrasting and common aspects, providing an overview about these research topics in academic literature over time. Additionally, this investigation provides clear outlines and helpful information to researchers, scholars, government managers, industry managers, and consultants.

A importância das questões socioambientais nas empresas advém da crescente demanda da sociedade por informações a respeito dos impactos que as atividades empresariais exercem sobre os trabalhadores, a comunidade e o meio ambiente. A partir daí, as empresas começam a ter que provar que o seu custo-benefício é positivo, na medida em que agregam valor à economia e à sociedade, respeitam os direitos humanos de seus colaboradores e, ainda, desenvolvem todo o seu processo operacional sem agredir o meio ambiente. É nesse contexto que se insere este trabalho, cujo objetivo é verificar, por meio da aplicação de Análise Envoltória de Dados (DEA), a relação entre capacidade de investimento e benefícios socioambientais, de forma que, quanto maiores forem os benefícios para uma menor capacidade de investimento, maior será a eficiência e, por conseguinte, o desempenho socioambiental da empresa. Os resultados do estudo, que envolveu 19 usinas de processamento de cana-de-açúcar no Brasil, mostram que a Agrovale (principal benchmark) apresenta o melhor e a São José Estiva, o menor desempenho socioambiental. Além disso, observou-se uma relação entre desempenho socioambiental e tamanho (medido pela receita), com as maiores empresas tendo desempenho melhores. | The importance of social and environmental tags in companies comes from increasing demand, by the society itself, of information concerning impacts that the business create over the employees, community and environment. Therefore, companies needed to prove that its cost-benefit is positive, because they add value to economy and to society, because they respect the employees human rights and, in addition, because they develop its operational process without damaging environment. This research has the main focus to verify, through the application of Data Envelopment Analysis (DEA), the relation between investment capacity and social and environmental benefits, in a way that the higher are the benefits to a lower investment capacity, higher will be the efficiency and, as a result, the social and environmental performance. The study results of nineteen sugar cane mills in Brazil show that Agrovale (top benchmark) is the best one and São José Estiva is the smaller in terms of social and environmental performance. In addition, it was observed a relation between social and environmental practice and the size (measured by income), where bigger companies had best performances.

A importância das questões socioambientais nas empresas advém da crescente demanda da sociedade por informações a respeito dos impactos que as atividades empresariais exercem sobre os trabalhadores, a comunidade e o meio ambiente. A partir daí, as empresas começam a ter que provar que o seu custo-benefício é positivo, na medida em que agregam valor à economia e à sociedade, respeitam os direitos humanos de seus colaboradores e, ainda, desenvolvem todo o seu processo operacional sem agredir o meio ambiente. É nesse contexto que se insere este trabalho, cujo objetivo é verificar, por meio da aplicação de Análise Envoltória de Dados (DEA), a relação entre capacidade de investimento e benefícios socioambientais, de forma que, quanto maiores forem os benefícios para uma menor capacidade de investimento, maior será a eficiência e, por conseguinte, o desempenho socioambiental da empresa. Os resultados do estudo, que envolveu 19 usinas de processamento de cana-de-açúcar no Brasil, mostram que a Agrovale (principal benchmark) apresenta o melhor e a São José Estiva, o menor desempenho socioambiental. Além disso, observou-se uma relação entre desempenho socioambiental e tamanho (medido pela receita), com as maiores empresas tendo desempenho melhores.<br>The importance of social and environmental tags in companies comes from increasing demand, by the society itself, of information concerning impacts that the business create over the employees, community and environment. Therefore, companies needed to prove that its cost-benefit is positive, because they add value to economy and to society, because they respect the employees human rights and, in addition, because they develop its operational process without damaging environment. This research has the main focus to verify, through the application of Data Envelopment Analysis (DEA), the relation between investment capacity and social and environmental benefits, in a way that the higher are the benefits to a lower investment capacity, higher will be the efficiency and, as a result, the social and environmental performance. The study results of nineteen sugar cane mills in Brazil show that Agrovale (top benchmark) is the best one and São José Estiva is the smaller in terms of social and environmental performance. In addition, it was observed a relation between social and environmental practice and the size (measured by income), where bigger companies had best performances.

Estudos sobre a estrutura de capital e a identificação de seus determinantes são temas relevantes nas pesquisas envolvendo a gestão financeira das empresas. Neste aspecto, o presente estudo teve como objetivo avaliar os determinantes da alavancagem das empresas do agronegócio brasileiro conforme o modelo de Rajan e Zingales (1995). Na definição da amostra, foram selecionadas 26 empresas que estavam enquadradas em alguma das três subdivisões do agronegócio brasileiro: a) o setor de produção agropecuária; b) setor fornecedor de insumos e fatores de produção e c) setor de processamento e distribuição, com base em classificação da CNA (Confederação da Agricultura e Pecuária do Brasil). O estudo foi feito com base no banco de dados da Economática®, tendo sido utilizado o modelo de regressão com dados em painel. Os resultados indicaram que as variáveis tangibilidade dos ativos, oportunidadede crescimento, tamanho e lucratividade foram estatisticamente significantes e podem ser interpretadas como fatores determinantes do endividamento das empresas do agronegócio brasileiro. Conclui-se, ainda, que o modelo estimado por meio da regressão com dados em painel gerou resultado compatível com aqueles preconizados pela pecking order theory.<br>Studies involving capital structure and the identification of its determinants are relevant issues in the field of corporate finance management research. In this regard, the present study intends to evaluate the determinants of corporate leverage in the Brazilian agribusiness sector using the model of Rajan and Zingales (1995). In the definition of the sample there were selected 26 companies that are classified in one of three subdivisions of the Brazilian agribusiness sector: a) the agriculture or cattle raising; b) inputs or production factors and c) processing and distribution sector, using as reference the CNA classification. The study used data from the Economatica® database, with the adoption of panel data methods. The results indicated that the variables tangibility of assets, growth opportunities, size and profitability were statiscally significant as determinant factors of the debt structure of Brazilian agribusiness companies. It is also possible to conclude that the model estimated by panel data generated results that are compatible with those suggested by the pecking order theory.

Este trabalho objetivou avaliar os ajustamentos ocorridos nos segmentos de biscoitos e massas alimentícias no Brasil, no período de 1995 a 2001, utilizando-se o modelo Estrutura-Conduta-Desempenho, da teoria da Organização Industrial. Os resultados mostram que o novo ambiente competitivo, deflagrado pela desregulamentação setorial e pela abertura comercial, permitiu a intensificação da concorrência e restringiu o poder de mercado das maiores empresas. Os dois segmentos foram obrigados a seguir o processo de adequação às exigências do consumidor, como a melhoria da qualidade, o aumento da variedade e a redução nos preços dos produtos. Todo esse processo foi liderado pelas maiores empresas, que realizaram investimentos em tecnologia e em capacidade produtiva e aumentaram, gradualmente, suas participações no mercado. O resultado desses ajustamentos traduziu-se, portanto, em melhor desempenho econômico e em maior benefício para a sociedade. | The present work aimed to evaluate the adjustments occurred in the food sector of biscuit and pastry in Brazil, from 1995 to 2001, using the Structure-Conduct-Performance model of the Industrial Organization theory. The results demonstrated that the new competitive environment, started by the non-regulation in the sector and by the commercial openness, allowed tougher competition and restrained the market power of the major industries. Both segments had to adjust themselves to the demands of the consumer in the market by improving the quality of their products, furnishing a wider variety and reducing their costs. The whole process was led by the major industries, which invested in technology and productive capacity and, continually, increased their participation in the market. Therefore, as a result of these adjustments, there has been an improvement in the economic performance and a greater benefit for society.

Este trabalho objetivou avaliar os ajustamentos ocorridos nos segmentos de biscoitos e massas alimentícias no Brasil, no período de 1995 a 2001, utilizando-se o modelo Estrutura-Conduta-Desempenho, da teoria da Organização Industrial. Os resultados mostram que o novo ambiente competitivo, deflagrado pela desregulamentação setorial e pela abertura comercial, permitiu a intensificação da concorrência e restringiu o poder de mercado das maiores empresas. Os dois segmentos foram obrigados a seguir o processo de adequação às exigências do consumidor, como a melhoria da qualidade, o aumento da variedade e a redução nos preços dos produtos. Todo esse processo foi liderado pelas maiores empresas, que realizaram investimentos em tecnologia e em capacidade produtiva e aumentaram, gradualmente, suas participações no mercado. O resultado desses ajustamentos traduziu-se, portanto, em melhor desempenho econômico e em maior benefício para a sociedade.<br>The present work aimed to evaluate the adjustments occurred in the food sector of biscuit and pastry in Brazil, from 1995 to 2001, using the Structure-Conduct-Performance model of the Industrial Organization theory. The results demonstrated that the new competitive environment, started by the non-regulation in the sector and by the commercial openness, allowed tougher competition and restrained the market power of the major industries. Both segments had to adjust themselves to the demands of the consumer in the market by improving the quality of their products, furnishing a wider variety and reducing their costs. The whole process was led by the major industries, which invested in technology and productive capacity and, continually, increased their participation in the market. Therefore, as a result of these adjustments, there has been an improvement in the economic performance and a greater benefit for society.

Focusing on changes in agricultural policy, this paper examines the economic impacts on MERCOSUL member country economies arising from the creation of the Free Trade Area of the Americas (FTAA) and a free trade area between MERCOSUL and the European Union (MERCOEURO). Four simulations are run using the Global Trade Analysis Project’s (GTAP) applied general equilibrium model. The results suggest these new trade alliances would cause an increase in MERCOSUL agribusiness production and a decrease in MERCOSUL manufactures production. In all simulations, agricultural trade flows are greatly altered and the exportation of MERCOSUL agribusiness products expands. However, the MERCOSUL countries experience overall economic growth in only the MERCOEURO scenarios. The elimination of agriculture production and export subsidies by members of the North American Free Trade Area (NAFTA) and European Union (E.U.) would have strong economic impacts on the economies of MERCOSUL countries.

Este trabalho analisa a questão do financiamento da produção agrícola sob uma ótica sistêmica, considerando o papel dos agentes privados no fornecimento de crédito rural. Desenvolve-se a idéia de que o volume e o custo de recursos financeiros disponibilizados para a produção agrícola são afetados por "fricções" em diversas transações sequenciais interligando emprestadores e tomadores de crédito. O objetivo do trabalho é analisar as vantagens comparativas dos diversos agentes que atuam no mercado de crédito, enfocando o potencial de cada agente em reduzir as tais fricções. Esta análise comparativa baseia-se na leitura do funcionamento do mercado de crédito agrícola dos Estados Unidos e pode ser aplicada nara o desenvolvimento de novos arranjos contratuais no mercado brasileiro.

Abstract: Sustainable agrifood global value chains depend on chain governance by the lead firm and transaction governance. However, the link between them is still unclear. We therefore investigated the scientific field on “governance in agrifood global value chain” over 15 years in the Scopus and Web of Science databases through two analyses: a descriptive bibliometric and a keywords co-occurrence analysis. Our descriptive results show that the research on the theme has increased over the years, with a concentration of the papers published in countries such as the United States, the United Kingdom and the Netherlands, with emphasis on Wageningen University. The network graph showed a multidisciplinary theoreticomplcal field and four axes: chain governance; transaction governance; horizontal relationships; political and structural elements. The chain and the transaction governance are indirectly linked by the concept of upgrading, compromising sustainability’s holistic view. Although the sustainability of the chain depends on both levels of governance, this bibliometric study showed that there is a gap to be filled in this topic. We propose a study in the light of both concepts, considering upgrading, vertical and horizontal relationships, as well as public policies.

Abstract: Brazil is the world’s second-largest producer of soybeans and the largest exporter. Despite the growing importance in the international market in the last harvests, activities related to this product threaten this position. Due to its economic importance for the country, this study aims to identify the competitiveness drivers of soybean destined for the international market and to measure their impacts on the export process. Therefore, the used methodology considers the systemic character of different factors that affect the supply chain positively or negatively. As a result, the logistics infrastructure dimension was the only competitiveness driver classified as unfavorable among the analyzed factors. The advances in agribusiness are being subsequently followed by some sectors of the economy such as science and technology. On the other hand, the logistics sector has not been showing the same development, causing some weaknesses to persist, either due to the lack of infrastructure of transport production, or the inability to properly store the national harvest. The current challenge for the State is to ensure the maintenance of the quality of the infrastructure already installed and to promote an environment capable of attracting private capital and a new investment cycle.