Table 2.

Factor coding

Final categoryInitial category
Economic problemsSugar and ethanol price, oversupply, demand shrinkage, sugar export drop, sector’s profitability decline, ethanol export drop
Government policiesHigh interest rate, government decisions about ethanol and gasoline price, lack of government incentives, IAA dissolution
Climatic problemsExcess rainfall, drought, frost
Financial crises2008 crisis, World crises
Credit availabilityLack of credit
Legislative changeChange in environmental legislation
CompetitionHigh competition
Financial problemsRevenue decrease, indebtedness increase, lack of working capital, difficulty in credit line renewal, availability of credit through the pledge/pawn of products, short-term debt payment
Organisational operational issuesSugarcane milling decline, operational costs increase, low productivity, delay to start the mill’s activity, high costs to maintain rural properties, high sugar logistical costs, high production cost, labour cost increase
InvestmentsInvestments in expansion, investment decrease, investment for expansion
Problems related to the final priceCost of production higher than the sale value, early products sale
Relational problemsConflicts and uncertainty towards the stakeholders
Source: Elaborated by authors

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