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Mergers in the Food Industries: Trends, Motives and Policies

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  • Connor, John M.
  • Geithman, Frederick E.

Abstract

From 1978 to 1987 the US food-marketing industries were in the throes of an historic merger wave that greatly eclipsed the previous three merger waves. Neoclassical economics, which assumes profit-maximization is the motive for mergers, and managerial utility are the two competing explanations for merger behavior. Empirical tests have so far been unable verify the neoclassical paradigm, which leaves managerial hubris as the principal explanation for mergers. The stock market crash of October 1987 together with expected tighter state and federal merger regulations will markedly slow mergers by large corporations.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Connor, John M. & Geithman, Frederick E., 1988. "Mergers in the Food Industries: Trends, Motives and Policies," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 3(2), pages 1-4.
    • Handle: RePEc:ags:aaeach:130324
    DOI: 10.22004/ag.econ.130324
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    Cited by:

    1. 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.
    2. Adams, Wendi L. & Love, H. Alan & Capps, Oral, Jr., 1997. "Structural Analysis Of Mergers And Acquisitions In The Food Industry," Journal of Food Distribution Research, Food Distribution Research Society, vol. 28(2), pages 1-13, July.
    3. Ollinger, Michael & Nguyen, Sang V. & Blayney, Donald P. & Chambers, William & Nelson, Kenneth B., 2006. "Food Industry Mergers and Acquisitions Lead to Higher Labor Productivity," Economic Research Report 7246, United States Department of Agriculture, Economic Research Service.
    4. Muehlfeld, Katrin & Weitzel, Utz & van Witteloostuijn, Arjen, 2011. "Mergers and acquisitions in the global food processing industry in 1986-2006," Food Policy, Elsevier, vol. 36(4), pages 466-479, August.
    5. Hallberg, Milton C., 1988. "Emerging Issues In Food Marketing And Distribution In The Northeast," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(2), pages 1-8, October.

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    Keywords

    Agribusiness;

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