Strukturwandel durch Fusionen im ErnÃ¤hrungssektor: Ein anhaltender Konzentrationsprozess?
AbstractMergers and acquisitions substantially affect the structure of the German food industry. This study analyses changes in the number of mergers and acquisitions for 21 German industries between 1976 and 1994. The results of an econometric panel data analysis show (a) a high degree of persistence, (b) distinct anti-cyclical fluctuations and a positive trend of merger activities as well as (c) significant effects of industry specific characteristics. Contrary to the available empirical literature the econometric model differentiates between industry characteristics of â€œacquiringâ€ and â€œacquiredâ€ firms.
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Bibliographic InfoArticle provided by Humboldt-Universitaet zu Berlin, Department for Agricultural Economics in its journal German Journal of Agricultural Economics.
Volume (Year): 50 (2001)
Issue (Month): 6 ()
mergers and acquisitions; food industry; structural change; merger waves; panel analysis; industry characteristics; economic cycle; Agribusiness; Industrial Organization;
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- John T. Barkoulas & Christopher F. Baum & Atreya Chakraborty, 1997.
"Waves and Persistence in Merger and Acquisition Activity,"
Boston College Working Papers in Economics
396, Boston College Department of Economics, revised 14 Dec 1999.
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- Melicher, Ronald W & Ledolter, Johannes & D'Antonio, Louis J, 1983. "A Time Series Analysis of Aggregate Merger Activity," The Review of Economics and Statistics, MIT Press, vol. 65(3), pages 423-30, August.
- Resende, Marcelo, 1999. " Wave Behaviour of Mergers and Acquisitions in the UK: A Sectoral Study," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(1), pages 85-94, February.
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