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What drives the acquisition behavior of agroholdings? Performance analysis of agricultural acquisition targets in Northwest Russia and Ukraine
International Food and Agribusiness Management Review ( IF 1.5 ) Pub Date : 2021-02-08 , DOI: 10.22434/ifamr2020.0081
Igor Ostapchuk 1 , Taras Gagalyuk 2 , David Epshtein 3 , Abusupyan Dibirov 4
Affiliation  

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.

中文翻译:

是什么驱动了农作物的收购行为?俄罗斯西北部和乌克兰的农业收购目标绩效分析

本文为转型经济中农户选择收购目标提供了开创性的经验证据。我们使用乌克兰和俄罗斯西北地区2005-2016年的面板数据。估计了二项式逻辑回归模型,以分析农场资本实力,财务绩效和规模对农户被农场收购的可能性的影响。我们的结果表明,在两个国家,农户选择目标的考虑因素往往会随着时间的推移而变化,并且已经从农场规模转向农场绩效。但是,这两个国家的农户都喜欢“抢柠檬”,即收购表现不佳的农场,但在目标选择标准方面却有所不同。俄罗斯西北部的农耕企业通常将重点放在农场的盈利能力上,
更新日期:2021-02-09
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