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Cross-border acquisitions in the global food sector

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  • Nils Herger
  • Christos Kotsogiannis
  • Steve McCorriston

Abstract

Cross-border acquisitions constitute the main form of foreign direct investment in the world economy, the focus of this paper being to consider the determinants of the location and growth of cross-border acquisitions in the global food sector. The data relates to over 2,000 international acquisitions in the food sector from 45 source to 46 host countries. The results highlight the importance of market size, relative costs and stock market growth as important determinants. We also report differences involving acquisitions in food processing and retailing and higher and lower/middle income countries. Results involving acquisitions in European countries are also highlighted. Oxford University Press and Foundation for the European Review of Agricultural Economics 2009; all rights reserved. For permissions, please email journals.permissions@oxfordjournals.org, Oxford University Press.

Suggested Citation

  • Nils Herger & Christos Kotsogiannis & Steve McCorriston, 2008. "Cross-border acquisitions in the global food sector," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 35(4), pages 563-587, December.
    • Handle: RePEc:oup:erevae:v:35:y:2008:i:4:p:563-587
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    File URL: http://hdl.handle.net/10.1093/erae/jbn033
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    Cited by:

    1. Mercedes Campi & Marco Duenas & Matteo Barigozzi & Giorgio Fagiolo, 2016. "Do Intellectual Property Rights Influence Cross-Border Mergers and Acquisitions ?," LEM Papers Series 2016/28, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    2. Filomena Pietrovito & Alberto Franco Pozzolo & Luca Salvatici, 2016. "Internationalization choices: an ordered probit analysis at industry level," Empirical Economics, Springer, vol. 50(2), pages 561-594, March.
    3. Amendolagine, Vito & Bruno, Randolph Luca & Cipollina, Maria & De Pascale, Gianluigi, 2023. "Minimum Global Tax: Winners and Losers in the Race for Mergers and Acquisitions," IZA Discussion Papers 16144, Institute of Labor Economics (IZA).
    4. Zhang, Yu Yvette & Palma, Marco A. & Jin, Shaosheng, 2015. "Impact of Chinese acquisition of a US Company on Consumer Willingness to Pay," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205811, Agricultural and Applied Economics Association.
    5. Zhang, Yu Yvette & Palma, Marco A. & Jin, Shaosheng & Yuan, Xiaotong, 2016. "Investigating the US Consumer Response to the Chinese Acquisition of a US Firm," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236024, Agricultural and Applied Economics Association.
    6. Nils Herger & Steve McCorriston, 2014. "Horizontal, Vertical, and Conglomerate FDI: Evidence from Cross Border Acquisitions," Working Papers 14.02, Swiss National Bank, Study Center Gerzensee.
    7. Mercedes Campi & Marco Dueñas & Matteo Barigozzi & Giorgio Fagiolo, 2019. "Intellectual property rights, imitation, and development. The effect on cross-border mergers and acquisitions," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 28(2), pages 230-256, February.
    8. Nils Herger & Steve McCorriston, 2014. "Horizontal, Vertical, and Conglomerate Cross Border Acquisitions," Discussion Papers 1402, University of Exeter, Department of Economics.
    9. Mankan M. Koné & Carl Gaigné & Lota D. Tamini, 2017. "Supply Uncertainty and Foreign Direct Investment in Agri-food Industry," Cahiers de recherche CREATE 2017-04, CREATE.
    10. Jin, Shaosheng & Zhang, Yu, 2014. "The Value of “Made in USA”: Impact of Chinese acquisition of a US Company on Consumer Willingness to Pay," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169805, Agricultural and Applied Economics Association.
    11. Ostapchuk, Igor & Gagalyuk, Taras & Curtiss, Jarmila, 2021. "Post-acquisition integration and growth of farms: the case of Ukrainian agroholdings," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 24(4), April.
    12. Nils Herger, 2013. "On Discrete Location Choice Models," Working Papers 13.02, Swiss National Bank, Study Center Gerzensee.
    13. Klimek, Bjørn & Hansen, Henning Otte, 2017. "Food industry structure in Norway and Denmark since the 1990s," Food Policy, Elsevier, vol. 69(C), pages 110-122.
    14. Pietrovito, Filomena & Pozzolo, Alberto Franco & Salvatici, Luca, 2012. "Exports vs. foreign direct investment: evidence from cross-country industry data," Economics & Statistics Discussion Papers esdp12064, University of Molise, Department of Economics.
    15. Nils Herger & Christos Kotsogiannis & Steve McCorriston, 2011. "International Taxation and FDI Strategies: Evidence From US Cross-Border Acquisitions," Discussion Papers 1109, University of Exeter, Department of Economics.
    16. Chandrika Raghavendra & Mahesh Rampilla & Venkata Ramana Thanikella & Isha Gupta, 2022. "Impact of Carbon Tax and Environmental Regulation on Inbound Cross-Border Mergers and Acquisitions Volume: An Evidence from India," IJFS, MDPI, vol. 10(4), pages 1-16, November.
    17. Luljeta Hajderllari & Kostas Karantininis & Lartey G. Lawson, 2012. "FDI as an Export-Platform: A Gravity Model for the Danish Agri-Food Industry," IFRO Working Paper 2012/7, University of Copenhagen, Department of Food and Resource Economics.

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