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Diversification and Resilience of Firms in the Agri-Food Supply Chain

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  • Stevens, Andrew W.
  • Teal, Jim

Abstract

Are diversified firms more resilient to negative market shocks than specialized firms? We answer this question in the context of the COVID‐19 pandemic by analyzing data from small‐ and medium‐sized firms in the U.S. agrifood supply chain. We first develop revenue‐based measures of firms' vertical (across supply‐chain segment) and horizontal (within supply‐chain segment) diversification. We then compare post pandemic outcomes of more diversified and less diversified firms using several inverse‐probability weighting techniques. We find that vertical diversification reduces firms' resilience, whereas horizontal diversification increases firms' resilience.
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Suggested Citation

  • Stevens, Andrew W. & Teal, Jim, 2022. "Diversification and Resilience of Firms in the Agri-Food Supply Chain," 2022 Agricultural and Rural Finance Markets in Transition, October 17-18, 2022, Detroit, Michigan 329264, Regional Research Committee NC-1177 (formerly NC-1014): Agricultural and Rural Finance Markets in Transition.
    • Handle: RePEc:ags:nc1117:329264
    DOI: 10.22004/ag.econ.329264
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    Cited by:

    1. is not listed on IDEAS
    2. Richards, Timothy, 2025. "Market Concentration and Resilience in Agricultural Supply Chains," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 361139, Agricultural and Applied Economics Association.
    3. Li, Xixi & Liu, Hongman & Wang, Zhuang & Chen, Hongsong, 2025. "Import diversification, market risk co-movement and Agri-food supply chain resilience," China Economic Review, Elsevier, vol. 93(C).
    4. repec:ags:aaea22:343748 is not listed on IDEAS
    5. Lin, Boqiang & Zhu, Yitong, 2025. "Supply chain configuration and total factor productivity of renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 209(C).
    6. Furbush, Ann M. & Josephson, Anna & Kilic, Talip & Michler, Jeffrey D., 2025. "Coping or hoping? Livelihood diversification and food insecurity in the COVID-19 pandemic," Food Policy, Elsevier, vol. 131(C).
    7. Jiang, Gaoyang & Peng, Jie & Liang, Xintong & Pan, Junyu, 2025. "Supply chain digitization and continuous green innovation: Evidence from China," Energy Economics, Elsevier, vol. 142(C).
    8. Beck, Anne & Lim, Sunghun & Taglioni, Daria, 2024. "Understanding firm networks in global agricultural value chains," Food Policy, Elsevier, vol. 127(C).
    9. Staples, Aaron J. & Schaefer, K. Aleks & Malone, Trey, 2025. "Measuring geopolitical distance: A quantitative approach to friendshoring in globalized supply chains," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 361039, Agricultural and Applied Economics Association.
    10. Beck,Anne Helene & Lim, Sunghun & Taglioni,Daria, 2024. "Understanding Firm Networks in Global Agricultural Value Chains," Policy Research Working Paper Series 10774, The World Bank.
    11. Hadachek, Jeffrey & Ma, Meilin, 2024. "Risk Externalities in Vertical Supply Chains," 2024 Annual Meeting, July 28-30, New Orleans, LA 343748, Agricultural and Applied Economics Association.
    12. Timothy J. Richards & Zachariah Rutledge & Marcelo Castillo, 2024. "Labor shortages and agricultural trucking rates," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 72(2), pages 105-129, June.

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