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Mergers and Diversified Growth of Large Grain Firms

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  • David W. Cobia
  • Paul L. Farris

Abstract

Firm growth by merger has received considerable attention because of its potential effects on industry organization and, in turn, economic performance. Early mergers often increased horizontal concentration, but recent ones appear to have been more associated with vertical and conglomerate integration. This study of 35 large firms in grain processing and merchandising industries showed that growth by merger was relatively larger from 1954 to 1963 than from 1940 to 1954. All but eight of the 35 firms became more highly diversified. Increasing diversification was associated positively with initial firm size and the relative importance of external growth.

Suggested Citation

  • David W. Cobia & Paul L. Farris, 1969. "Mergers and Diversified Growth of Large Grain Firms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(3), pages 619-624.
    • Handle: RePEc:oup:ajagec:v:51:y:1969:i:3:p:619-624.
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    File URL: http://hdl.handle.net/10.2307/1237913
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    Cited by:

    1. Narander Kumar Nigam & C. P. Gupta, 2023. "Negative Related Diversification, Positive Related Diversification and Firm’s Performance: Measurement and Application," Global Business Review, International Management Institute, vol. 24(1), pages 48-67, February.
    2. Kwo-Shin Chen & Emerson M. Babb & Lee F. Schrader, 1985. "Growth of large cooperative and proprietary firms in the US food sector," Agribusiness, John Wiley & Sons, Ltd., vol. 1(2), pages 201-210.
    3. Parliament, Claudia & Taitt, Jodi, 1989. "Mergers, Consolidations, Acquisitions: Effect On Performance Of Agricultural Cooperatives," Staff Papers 13384, University of Minnesota, Department of Applied Economics.
    4. Sporleder, Thomas L. & Skinner, Robert A., 1977. "Diversification of Regional Marketing Cooperatives," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 9(1), pages 191-195, July.

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