ABSTRACT
Objective: to calculate the minimum number of animals that a rural pig farm needs to raise so that the implementation of biodigesters to generate clean energy in the context of Brazil is financially viable. Theoretical framework: a more efficient productive farm tends to include environmentally sustainable actions, since pig farming is considered a relevant activity of environmental concerns due to the amount of manure produced, especially in an intensive system. It is in this context that several current studies have been debating the environmentally correct reuse of pig manure. Method: using interviews and exploratory searches, data were collected that projected the project's cash flow. From this, the number of animals needed for the net present value of the project to be zeroed was calculated. Also, the probabilistic scenario was designed using the Monte Carlo Simulation. Results and conclusion: for the deterministic scenario, it was calculated that 736 animals are needed for zero/null NPV and for a probabilistic scenario context with p(NPV<0) = p(IRR<TMA) = 0.2, it is necessary that the rural property has at least 840 animals. Research implications: the academic and social contribution of this work is that it can help small swine producers in their decision-making for the implementation of biodigesters. Originality/value: considering rural activities as strong polluters and the large increase in electricity tariffs seen in recent years, mainly due to severe droughts and the COVID-19 pandemic, the reuse of waste becomes increasingly important and relevant for clean and distributed energy generation. © 2023 ANPAD - Associacao Nacional de Pos-Graduacao e Pesquisa em Administracao. All rights reserved.
ABSTRACT
According to the unimaginable influence of Covid-19 and the essential of capital asset pricing in the market, this article analyzes the TV industry of the US stock market before and during the epidemic based on the Fama-French five-factor model. Fama-French five-factor model comprehensively considers the impact of market risk premium (Mkt-RF), market value scale factor, (SMB), book-to-market value ratio factor (HML), profit factor (RMW) and investment factor (CMA) on this industry. Meanwhile, it can conduct a comprehensive evaluation of the impact of Covid-19 on the TV industry. The data in this article was selected from Kenneth R. French's databases and used multiple linear regression to obtain the results. The performance of factors is different due to the outbreak of Covid-19. By analyzing the result, it found that Mkt-RF, SMB are not significant in the model, but HML, RMW, CMA have changed from insignificant to significant. It indicates that during the Covid-19, investors are recommended to pay more attention to the firms with high book-to-market ratios, stable profitability, and aggressive investment style in the USA TV industry. Therefore, research on the stock market of the TV industry plays an important role in the steady development of the economy, the creation of social wealth, and the improvement of people's living standards. © 2021 IEEE.