Mergers and Acquisitions in Agricultural-Food Industry in the World Between 1990 and 2012



Abstract

Taking into consideration the specification of the sector, distinct tendencies in FDI flows can be expected both in the short and long term. The aforementioned assumption constituted the basis for the research the aiming at of which the presentation of the level, dynamics and structure of cross-border mergers and acquisitions in agricultural-food industry and exploration, on their basis, of the tendencies and directions in which they are going to change as well as to specify the place and role of agriculture and food industry in global flows of FDI. In order to reach the aforementioned goal, ex-post empiric analysis of capital flows in the form of mergers and acquisitions was applied (1990-2012) together with chosen statistical methods (measurements of placement and variation) and with indicators of structure and dynamics. The results of the analysis showed that M&As, in the long term, was specified by a relatively high cyclical nature as well as by a growing trend with short-term fluctuations around the trend distinct from those specifying other sectors. Moreover, the research proved that mergers and acquisitions constituted an important form of FDI flows and their implementation had a marginal meaning when considering the whole sector.

Keywords

Agrii-food industry; Mergers and acquisitions; Investment

Drelich K., 2011. Fuzje i przejęcia w latach 2007 - 2009 - Polska na tle tendencji globalnych. Instytut Rozwoju Przedsiębiorstw. Kraków.

Heumesser C, Schmid E., 2012. Trends in foreign direct Investment in the agricultural sector of developing and transition countries: a review. Universität für Bodenkultur Wien Department für Wirtschafts- und Sozialwissenschaften, Vienna.

Kowalczyk S., 2012. Konsekwencje globalizacji dla rolnictwa europejskiego. Zesz. Nauk. SGGW, Probl. Roln. Świat., 1, 116, 120.

Lowder S.K., Carisma B., 2011. Financial resource flows to agriculture. A review of data on government spending, official development assistance and foreign direct investment. ESA Working paper No. 11-19, FAO.

Machała R., 2007. Przejęcia i fuzje. Wpływ na wartość firm. Oficyna Wydawnicza Unimex, Wrocław.

OECD 2002. Foreign Direct Investment For Development - Maximising Benefits, Minimising Costs. Overview, Paris.

Rosińska M., 2008. Trendy w międzynarodowych fuzjach i przejęciach jako konsekwencja ewolucji gospodarki światowej. W: K. Kaszuba, S. Wydymus, 2008. Czynniki i uwarunkowania rozwoju handlu międzynarodowego. Wyd. Wyższej Szkoły Zarządzania w Rzeszowie, Kraków-Rzeszów, 259.

UNCTAD. 1995. World Investment Report 1995: Transnational corporations and competitiveness, UN, New York and Geneva, 64-66.

UNCTAD. 1997. World Investment Report 1997: Transnational corporations, market structure and competition policy, UN, New York and Geneva, 65, 153.

UNCTAD. 1998. World Investment Report 1998: Trends and determinants, UN, New York and Geneva, 46, 103, 166, 172, 186-188, 248-249.

UNCTAD. 1999. World Investment Report 1999: Foreign direct investment and the challenge of development, UN, New York and Geneva, 85, 426, 430-431.

UNCTAD. 2000. World Investment Report 2000: Cross-border Mergers and Acquisitions and Development, UN, New York and Geneva, 129-131, 252-255.

UNCTAD. 2001. World Investment Report 2001: Promoting linkages, UN, New York and Geneva, 214-216.

UNCTAD. 2002. World Investment Report 2002: Corporations and Export Competitiveness, UN, New York and Geneva, 205.

UNCTAD. 2003. World Investment Report 2003: FDI Policies for Development: National and International Perspectives, UN, New York and Geneva, 51.

UNCTAD. 2004. World Investment Report 2004: The Shift Towards Services, UN, New York and Geneva, 21.

UNCTAD. 2005. World Investment Report 2005: Transnational Corporations and the Internationalization of R&D, UN, New York and Geneva, 58.

UNCTAD. 2006. World Investment Report 2006: FDI from Developing and Transition Economies: Implications for Development, UN, New York and Geneva, 34, 78.

UNCTAD. 2007. World Investment Report 2007: Transnational Corporations, Extractive Industries and development, UN, New York and Geneva, 26.

UNCTAD. 2008. World Investment Report 2008: Transnational Corporations, and the Infrastructure Challenge, UN, New York and Geneva, 60-64, 78.

UNCTAD.. World Investment Report 2009: Corporations Transnational, Agricultural Production and Development 2009, UN, New York and Geneva, 16.

NCTAD. 2010. World Investment Report 2010: Investing in a low-carbon economy, UN, New York and Geneva, 78-79, 92, 121-122.

UNCTAD. 2011. World Investment Report 2011: Non-Equity Modes of International Production and Development, UN, New York and Geneva, 104.

UNCTAD. 2012. World Investment Report 2012: Towards a New Generation of Investment Policies, UN, New York and Geneva, 9.

UNCTAD. 2013. World Investment Report 2013: Global Value Chains: Investment and Trade for Development, UN, New York and Geneva, 224-225.

Published : 2013-12-31


Jaworska, M. (2013). Mergers and Acquisitions in Agricultural-Food Industry in the World Between 1990 and 2012. Journal of Agribusiness and Rural Development, 30(4), 59-69. Retrieved from http://www1.up.poznan.pl/jard/index.php/jard/article/view/680

Magdalena Jaworska  jaworska@up.poznan.pl
Uniwersytet Przyrodniczy w Poznaniu  Poland


CitedBy Crossref
0

CitedBy Scopus
0


Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

This journal permits and encourages authors to post items submitted to the journal on personal websites or institutional repositories both prior to and after publication, while providing bibliographic details that credit, if applicable, its publication in this journal.