Estratégias de Financiamento e Investimentos Estratégicos: Mudanças e Efeitos na Indústria Frigorífica da Carne Bovina Brasileira.

Abstract

Among the various supply chains that make up the Brazilian agribusiness system, one of the most important is the beef. With a herd estimated at 190 million head of cattle, it plays a strategic role in agribusiness. The beef processing industry, industrial link in this chain is a sector that has an intense competition among his players, demanding from the Brazilian slaughterhouses significant investments in expanding its productive capacity and trade, either through acquisitions of other companies or through organic growth. However, such investments require long-term resources that can hardly be covered by self-financing industry and, therefore, to capture these resources in third-party sources is necessary. The capital market has proved an important source of funds for a group of stores in 2007, opened its capital by issuing new shares on the BM & F Bovespa. More than that, the strategic investments made possible largely because those resources have caused a considerable impact on industry competitiveness refrigerated beef in Brazil and worldwide. This paper attempts a discussion of the changes and the effects of new strategies for financing through the capital market, and strategic investments on the competitiveness of the agents who compose the meatpacking industry of domestic beef, and as this is a systemic approach also the impact of this new configuration of the other industrial production chain of Brazilian beef. For this purpose, we used the model of five competitive forces of Porter analysis of interactions between the chain links. The study was conducted through a qualitative approach, collecting data from secondary sources. Were measured and analyzed information relating to operational and market performance of refrigerators which did its IPO, and the results of the sector as a whole. The results indicate a concentration process in the industry that could lead, in the near future, an oligopoly market structure.