| Abstrakt: |
The specificity of the investment process in viticulture, resulting from the long period from planting the vineyard to its transformation into a productive asset, the long operating period and the significant amount of the initial investment, had determined the relatively high degree of risk (production, market and financial) in the implementation of this activity. The market situation, revealing the interaction between the price levels of production factors and the price levels of vine-growers, had an impact on the profitability, which affected the investment interest. In this aspect, the analysis of the structure and dynamics of the costs for creating the vineyard and its cultivation during the fruiting period, as well as the evaluation of the economic effect of grape production, had been an important tool of strategic planning in the sector, both at micro- and macro- level. The application of innovative approaches to the investment and operating costs management in viticulture, based on intelligent information systems, had supported the analytical process and the forecasting of cash flows, as a means of controlling the market and financial risk in vine growing farms. The study had systematized a significant number of sources from the scientific publications and the practice in countries having well developed viticulture and wine sector. The data revealed that tools structured on the basis of computer software, aimed at the assessment of investment and operating costs, the production profitability and the return on investment decisions, had been increasingly used in practice. [ABSTRACT FROM AUTHOR] |
