Cross-Border Acquisitions in the Global Food Sector

Posted: 17 Mar 2009

See all articles by Nils Herger

Nils Herger

Swiss National Bank - Study Center Gerzensee; University of Bern - Faculty of Economics and Social Sciences

Christos Kotsogiannis

University of Exeter

Steve McCorriston

University of Exeter Business School

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.

Keywords: foreign direct investment, cross-border acquisitions, count data, food sector

JEL Classification: F23, G34, L66

Suggested Citation

Herger, Nils and Kotsogiannis, Christos and McCorriston, Steve, Cross-Border Acquisitions in the Global Food Sector. European Review of Agricultural Economics, Vol. 35, No. 4, pp. 563-587, 2008. Available at SSRN: https://ssrn.com/abstract=1359561 or http://dx.doi.org/jbn033

Nils Herger (Contact Author)

Swiss National Bank - Study Center Gerzensee ( email )

Dorfstrasse 2
Gerzensee, 3115
Switzerland
+41317803114 (Phone)

HOME PAGE: http://www.szgerzensee.ch

University of Bern - Faculty of Economics and Social Sciences ( email )

Schanzeneckstrasse
Bern, 3001
Switzerland

HOME PAGE: http://www.vwi.unibe.ch

Christos Kotsogiannis

University of Exeter ( email )

Exeter EX4 4QX, Devon
United Kingdom

Steve McCorriston

University of Exeter Business School ( email )

Streatham Court
Xfi Building, Rennes Dr.
Exeter, EX4 4JH
United Kingdom

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