Influence of different production methods on economic results of greenhouse vegetable production
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The subject of research in this paper are investment models created by analyzing the characteristics of greenhouse vegetable production in Bosnia and Herzegovina. Five models were compiled based on data from family farms engaged in the production of vegetables in a protected area in partially controlled conditions. The main goal is to examine changes in the amount of economic results depending on the impact of sowing/planting, type and utilization of protected space in vegetable growing. The economic viability of the investment was determined using net present value, the internal rate of return, discounted payback period and profitability index. Model 4 (growing two vegetable species per year in high plastic tunnels) had the highest net present value (NPV = USD 125 322.18), while model 3 (growing two vegetable species per year in semi-high plastic tunnels) had the most favorable values of the internal rate of return (63.38%), discounted payback period (1.66 years) and profitability ind...ex (4.69). Justification of investments in risky business conditions indicates model 4 as the most favorable solution. Since the indicators used yielded conflicting conclusions about which model is the best solution, the ranking procedure was performed using the VIKOR method. Research results indicate that the model 3 represents the best compromise solution compared to the other models used. © 2022, Universidade Federal Rural de Pernambuco. All rights reserved.
Keywords:Decision making process / Investment analysis / VIKOR method
Source:Custos e Agronegocio, 2022, 18, 2, 44-62