What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine
This article provides pioneering empirical evidence on the selection of acquisition targets by agroholdings in transition economies. We use panel data from Ukraine and Northwest Russia covering the years 2005-2016. Binomial logistic regression models were estimated to analyze the impacts of farm cap...
Published in: | International Food and Agribusiness Management Review |
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Language: | English |
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Wageningen: Wageningen Academic Publishers
2021
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Online Access: | https://www.econstor.eu/bitstream/10419/274556/1/Ostapchuk_2021_acquisition_behavior_agroholdings.pdf |
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ftleibnizopen:oai:oai.leibnizopen.de:5B6GMYsBBwLIz6xGv7Da 2023-11-12T04:23:28+01:00 What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine Ostapchuk, Igor Gagalyuk, Taras Epshtein, David Dibirov, Abusupyan 2021 https://www.econstor.eu/bitstream/10419/274556/1/Ostapchuk_2021_acquisition_behavior_agroholdings.pdf eng eng Wageningen: Wageningen Academic Publishers http://www.econstor.eu/dspace/Nutzungsbedingungen https://creativecommons.org/licenses/by-nc-sa/4.0/ International Food and Agribusiness Management Review Vol. 24 Iss. 4 p. 593-613 Wageningen Academic Publishers Wageningen ISSN 1559-2448 doi:10.22434/IFAMR2020.0081 jel:G34 jel:L25 jel:Q14 acquisition target selection agroholdings Northwest Russia pre-acquisition performance Ukraine Article 2021 ftleibnizopen https://doi.org/10.22434/IFAMR2020.0081 2023-10-15T23:26:45Z This article provides pioneering empirical evidence on the selection of acquisition targets by agroholdings in transition economies. We use panel data from Ukraine and Northwest Russia covering the years 2005-2016. Binomial logistic regression models were estimated to analyze the impacts of farm capital strength, financial performance and size on the farm’s likelihood of being acquired by an agroholding. Our results indicate that agroholding target selection considerations tend to change over time and have shifted from farm size to farm performance in both countries. However, agroholdings in both countries prefer to ‘grab lemons’, i.e. acquire poorly performing farms, but they differ with respect to target selection criteria. Agroholdings in Northwest Russia tend to focus on farm profitability, while their Ukrainian counterparts emphasize the capital structure of the target farms. Article in Journal/Newspaper Northwest Russia Unknown International Food and Agribusiness Management Review 24 4 593 613 |
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jel:G34 jel:L25 jel:Q14 acquisition target selection agroholdings Northwest Russia pre-acquisition performance Ukraine |
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jel:G34 jel:L25 jel:Q14 acquisition target selection agroholdings Northwest Russia pre-acquisition performance Ukraine Ostapchuk, Igor Gagalyuk, Taras Epshtein, David Dibirov, Abusupyan What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
topic_facet |
jel:G34 jel:L25 jel:Q14 acquisition target selection agroholdings Northwest Russia pre-acquisition performance Ukraine |
description |
This article provides pioneering empirical evidence on the selection of acquisition targets by agroholdings in transition economies. We use panel data from Ukraine and Northwest Russia covering the years 2005-2016. Binomial logistic regression models were estimated to analyze the impacts of farm capital strength, financial performance and size on the farm’s likelihood of being acquired by an agroholding. Our results indicate that agroholding target selection considerations tend to change over time and have shifted from farm size to farm performance in both countries. However, agroholdings in both countries prefer to ‘grab lemons’, i.e. acquire poorly performing farms, but they differ with respect to target selection criteria. Agroholdings in Northwest Russia tend to focus on farm profitability, while their Ukrainian counterparts emphasize the capital structure of the target farms. |
format |
Article in Journal/Newspaper |
author |
Ostapchuk, Igor Gagalyuk, Taras Epshtein, David Dibirov, Abusupyan |
author_facet |
Ostapchuk, Igor Gagalyuk, Taras Epshtein, David Dibirov, Abusupyan |
author_sort |
Ostapchuk, Igor |
title |
What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
title_short |
What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
title_full |
What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
title_fullStr |
What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
title_full_unstemmed |
What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine |
title_sort |
what drives the acquisition behavior of agroholdings? performance analysis of agricultural acquisition targets in northwest russia and ukraine |
publisher |
Wageningen: Wageningen Academic Publishers |
publishDate |
2021 |
url |
https://www.econstor.eu/bitstream/10419/274556/1/Ostapchuk_2021_acquisition_behavior_agroholdings.pdf |
genre |
Northwest Russia |
genre_facet |
Northwest Russia |
op_source |
International Food and Agribusiness Management Review Vol. 24 Iss. 4 p. 593-613 Wageningen Academic Publishers Wageningen ISSN 1559-2448 doi:10.22434/IFAMR2020.0081 |
op_rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen https://creativecommons.org/licenses/by-nc-sa/4.0/ |
op_doi |
https://doi.org/10.22434/IFAMR2020.0081 |
container_title |
International Food and Agribusiness Management Review |
container_volume |
24 |
container_issue |
4 |
container_start_page |
593 |
op_container_end_page |
613 |
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1782338233370148864 |