2408-9346Research result. Business and Service Technologies2408-934610.18413/2408-9346-2023-9-4-1-43296INTERDISCIPLINARY RESEARCH IN THE FIELD OF BUSINESS<strong>Agribusiness scaling limit of agricultural holdings of the Russian Federation</strong><strong>Agribusiness scaling limit of agricultural holdings of the Russian Federation</strong>MorhachovIllia V.MorhachovIllia V.GavrinevaNatalya S.GavrinevaNatalya S.20239400

The aim of the work is to refute the hypothesis that the conditional limit of effective scaling of agribusiness of agricultural holdings in Russia at the macro level in 2022 has been reached. The dynamics of marginal revenue of the selected group of entities related to the leading agricultural holdings of Russia, as well as the average annual growth rates of their revenue, loans and credits for the period 2009-2022 are considered. The activities of agricultural holdings and organizations in the agro-industrial sector still largely depend on loans and credits, which remain a significant source of capital for scaling their agribusiness. This dependence makes it necessary to compare the revenue growth of the studied subjects with the change in their debt on loans and credits. During the period 2000-2022, the activities of agricultural holdings of the Russian Federation were characterized by state subsidies for the use of credit resources. This may be the basis for a judgment about the onset of the limit of effective scaling of the agribusiness of these subjects. The paper refutes the hypothesis that the conditional limit of effective scaling of agribusiness of agricultural holdings in Russia at the macro level in 2022 has been reached. During 2009-2022, the dynamics of both revenue and debt on loans of these entities were positive, although they were characterized by instability due to the action of macro-environment factors. The average annual revenue growth of the studied agricultural holdings (17.17%) exceeded the average annual growth rate of loan debt (11.16%). The dynamics of marginal revenue of these subjects was not clearly negative, although it was characterized by a high level of fluctuation. On average, for each additional ruble of loans during the study period, 2.73 rubles of revenue growth of the studied subjects accounted for.

The aim of the work is to refute the hypothesis that the conditional limit of effective scaling of agribusiness of agricultural holdings in Russia at the macro level in 2022 has been reached. The dynamics of marginal revenue of the selected group of entities related to the leading agricultural holdings of Russia, as well as the average annual growth rates of their revenue, loans and credits for the period 2009-2022 are considered. The activities of agricultural holdings and organizations in the agro-industrial sector still largely depend on loans and credits, which remain a significant source of capital for scaling their agribusiness. This dependence makes it necessary to compare the revenue growth of the studied subjects with the change in their debt on loans and credits. During the period 2000-2022, the activities of agricultural holdings of the Russian Federation were characterized by state subsidies for the use of credit resources. This may be the basis for a judgment about the onset of the limit of effective scaling of the agribusiness of these subjects. The paper refutes the hypothesis that the conditional limit of effective scaling of agribusiness of agricultural holdings in Russia at the macro level in 2022 has been reached. During 2009-2022, the dynamics of both revenue and debt on loans of these entities were positive, although they were characterized by instability due to the action of macro-environment factors. The average annual revenue growth of the studied agricultural holdings (17.17%) exceeded the average annual growth rate of loan debt (11.16%). The dynamics of marginal revenue of these subjects was not clearly negative, although it was characterized by a high level of fluctuation. On average, for each additional ruble of loans during the study period, 2.73 rubles of revenue growth of the studied subjects accounted for.

agricultural holdingagricultural sectoragribusinessaccounts payableloanscreditsrevenuemarginal revenueagricultural holdingagricultural sectoragribusinessaccounts payableloanscreditsrevenuemarginal revenueСписок литературыDenisov, V.I. and Potravnyi, I.M. (2020), &ldquo;Agricultural Holdings and Farms: The Right to Development&rdquo;, Economic Analysis: Theory and Practice, vol. 19, 4 (499), pp. 650-662. (in Russian) DOI 10.24891/ea.19.4.650.Dzudtsova, I.I. (2019), &ldquo;Russian Agricultural Holding Development&rdquo;, Modern Economy Success, 2, pp. 70-74.&nbsp; (in Russian).Epstein, D.B. and Gagalyuk, Т.V. (2018), &ldquo;About factors of sale growth and influence of belonging to agricultural holdings on resilience of agricultural enterprises&rdquo;, Innovation, 10, pp. 68-80. (in Russian).Financial performance of public companies [Online], available at: https://www.list-org.com/ (Accessed 15 September 2023).Kabanenko, М.N., Ugrimova, S.N. and Andreeva, N.А. (2019), &ldquo;The State and Prospects of Development of Agroholdings in Russian Federation&rdquo;. Economic relations, vol, 9, 3, pp. 1963-1974. (in Russian) DOI 10.18334/eo.9.3.40973.Мinaev, V.V. (2018), &ldquo;The Role of Agricultural Holdings in the Development of the Economies of Russian Regions&rdquo;, Scientific Bulletin of the Southern Institute of Management, 2, pp. 74-81. (in Russian) https://doi.org/10.31775/2305-3100-2018-2-74-81.Morhachov, I.V. (2023), &ldquo;Financial Break-Even Point and Indicator of Devaluation of Own Capital of AgroIndustrial Complex Enterprises&rdquo;, Journal of Volgograd State University. Economics, 2023, vol. 25, 2, pp. 131-141. (in Russian). DOI: https://doi.org/10.15688/ek.jvolsu.2023.2.11.Morhachov, I.V. and Kolpakova, Е.А. (2023), &ldquo;The need for targeting the return on assets and equity in agro-industrial enterprises&rdquo;, Economics of agricultural and processing enterprises, 2023, 5, pp. 24-28. (in Russian) DOI 10.31442/0235-2494-2023-0-5-24-28.Nosonov, А.М. (2019), &ldquo;Agrarian Holdings as a Form of Organizational and Managerial Innovations in Agro-Industrial Complexes&rdquo;, Bulletin of the Ryazan State University named after S.A. Yesenin, 4 (65), pp. 108-121. (in Russian).Ruschitskaya, О.А. (2021), &ldquo;Leading Agricultural Holdings in Russia: Features of Formation and Practice of Functioning&rdquo;, Theory and Practice of World Science, 1, pp. 2-4. (in Russian).Ruschitskaya, О.А., Маlkоvа, U.V. and Danilova, K.А. (2020), &ldquo;Agricultural Holdings in the Russian Agricultural Sector&rdquo;, Theory and Practice of World Science, 5, pp. 17-23. (in Russian).Shevtsov, V.V. (2016), &ldquo;Agroeconomics and Agroholdings&rdquo;, Modern Trends in Economics and Management: a New Look, 40-2, pp. 61-166. (in Russian).Shevtsov, V.V. (2021), &ldquo;Organizational and technological transformations and sustainability of the functioning of Russian agricultural holdings&rdquo;, Bulletin of Eurasian Science, vol, 13, pp. 6. (in Russian).Shevtsov, V.V. and Sirotkin, V.A. (2018), &ldquo;Business Groups in the Institutional Structure of Modern Agroeconomics&rdquo;, Bulletin of the Academy of Knowledge, 29 (6), pp. 264-269. (in Russian).Shevtsov, V.V. and Каrpеnkо, G.G. (2019), &ldquo;Concerning Certain Aspects of the Work of the Major Agrarian Firms&rdquo;, Bulletin of the Volga University. V.N. Tatishcheva, vol. 2, 3, pp. 42-151. (in Russian)Shevtsov, V.V. and Каrpеnkо, G.G. (2019), &ldquo;Large Russian agricultural holdings and their priorities&rdquo;, Actual problems and prospects for the development of the economy: Russian and foreign experience, 5 (24), pp. 7-11. (in Russian).Sokolova, J. Е. (2011), &ldquo;Efficiency of poultry production in new formations [From the experience of the Group of Companies &quot;Agroholding&quot;, Agricultural Economics. Abstract Journal, 2, pp. 494. (in Russian).Sosenkov, А.V. (2021) &ldquo;Agricultural Holdings: For and Against&rdquo;, Theory and Practice of World Science, 2, pp. 30-34. (in Russian).Uzun, V., Shagaida, N, and Saraykin, V. (2012), &ldquo;Agroholdings of Russia and their Role in Grain Production (July 1, 2012)&rdquo;, 2012-2 [Online], available at: https://ssrn.com/abstract=2658003 (Accessed 15.08.2023) (in Russian).Yashina, М. L., Neyf, T.V. and Treskova, T.V. (2020), &ldquo;Development of lending to agricultural organizations&rdquo;, Ulyanovsk: Ulyanovsk State Agrarian University. P.A. Stolypin, ISBN 978-5-6043484-5-1. (in Russian)Zabaznova, D.O. and Melikhova, L.A. (2019), &ldquo;The Advantages of Direct Interest Rate Subsidies in Agricultural Lending&rdquo;, Economics of agricultural and processing enterprises, 1, pp. 71-74. (in Russian).