Assimetria de custos: um estudo aplicado às empresas da cadeia produtiva do agronegócio brasileiro

Abstract

The present study aims to analyze the behavior of costs in the face of changes in revenue volumes from the standpoint of sticky costs in the companies in the agribusiness production chain. The research is of a statistical nature with application of two different methodologies in order to verify if there are or not inferences of asymmetry of costs in these companies. For this purpose, the data of the statements of results of the exercise of 24 companies listed in B3 between 2006 and 2016 were collected, but one of these companies presented data only in 2016 and for this reason was excluded from the sample. The analysis was made in two distinct axes: the analysis of the behavior of the companies costs of the agribusiness production chain in general and analysis from the point of view of the sticky costs. The first axis is carried out according to the study of the behavior of all costs including selling, general, administrative and financial expenses in relation to net sales revenue in a given period. The second axis is divided into two parts: the Richartz and Borgert methodology (2013) using the cost of the product sold as a variable and the Anderson, Banker and Janakiraman (2003) methodology that uses selling, general and administrative expenses. The results show that the costs of the companies in the Brazilian agribusiness chain listed in B3 between 2006 and 2016 do not behave asymmetrically in the variations in net revenues, that the division into quartiles was not sufficient to detect the presence of asymmetry and that when analyzed by sectors and subsectors, there was evidence of asymmetry for sugar and alcohol in relation to the RLV variable.