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Vertical Integration and Profitability of the Agrifood Industry in an Economic Crisis Context

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Vertical Integration and Profitability of the Agrifood Industry in an Economic Crisis Context

dc.contributor.author	Grau Grau, Alfredo Juan
dc.contributor.author	Reig Pérez, Araceli
dc.date.accessioned	2017-11-22T09:55:34Z
dc.date.available	2017-11-22T09:55:34Z
dc.date.issued	2015
dc.identifier.uri	http://hdl.handle.net/10550/63248
dc.description.abstract	In a setting of economic and financial crisis, most companies experienced a reduction in their profitability. Thus, our study allows us to identify vertical integration strategies developed by companies to overcome the crisis. This paper is aimed at unveiling the determining factors of the profitability of Spanish agrifood firms, depending on whether they are backwards vertically integrated or not. In order to attain our objective, we implemented a first difference regression model. The main contributions of the article lie in the incorporation of a variable that distinguishes integrated firms from the rest and the separate analysis of the two groups of firms. The results suggest that firms that seek to differentiate themselves, either through offering a specific product or through providing higher quality with a view to maintaining their reputation, are more likely to adopt vertical integration due to the higher transaction costs of relations with suppliers. The grouping carried out in this study is shown to be highly relevant as asset structure implies different strategies for actions aimed at increasing profitability.
dc.language.iso	eng
dc.relation.ispartof	Spanish Journal Of Agricultural Research, 2015, vol. 13, num. 4, p. 1-14
dc.source	Grau Grau, Alfredo Juan Reig Pérez, Araceli 2015 Vertical Integration and Profitability of the Agrifood Industry in an Economic Crisis Context Spanish Journal Of Agricultural Research 13 4 1 14
dc.subject	Economia
dc.subject	Crisi financera global, 2007-2009
dc.title	Vertical Integration and Profitability of the Agrifood Industry in an Economic Crisis Context
dc.type	journal article	es_ES
dc.date.updated	2017-11-22T09:55:34Z
dc.identifier.doi	https://doi.org/10.5424/sjar/2015134-7487
dc.identifier.idgrec	107272
dc.rights.accessRights	open access	es_ES