Analysis of mergers in Czech agriculture companies

Hýblová, Eva

doi:10.17221/15/2014-agricecon

Cited by 9 publications

(7 citation statements)

References 7 publications

(4 reference statements)

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“…Our analysis suggests that firm size has a negative impact on the performance of textile TNCs operating in Portugal during the pandemic, confirming the findings of [41,42]. Thus, during the pandemic, H1 and H3 hold, but not H2.…”

Section: Discussionsupporting

confidence: 83%

“…Thus, agency conflicts between managers and owners can inhibit the appropriation of potential benefits of company size [41]. Other studies show a negative relationship between company size and operating profit or loss [42] or in the return on assets [40]. The results of another study [43] show that increasing company size reduces shareholder value by 18-20%.…”

Section: Firm Size and Corporate Financial Performancementioning

confidence: 98%

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The Impact of Size on the Performance of Transnational Corporations Operating in the Textile Industry in Portugal during the COVID-19 Pandemic

Santos

Castanho

2022

Sustainability

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The aim of this work is to understand the impact of size on the performance of transnational corporations (TNCs) operating in the textile and clothing industry in Portugal during the COVID-19 pandemic. For this purpose, we used ORBIS data for the period 2019–2020 and narrative, financial and correlation analyses to assess the performance of five companies. Thus far, the impact of company size on the competitiveness of Portuguese textile affiliates during the pandemic has remained unexplored. The results show that smaller firms performed better than larger ones, likely due to the higher fixed costs of the latter at times when orders declined worldwide. Our analysis suggests that there are some characteristics of TNCs that matter in explaining company-level performance during crises, such as management experience and flexibility. Furthermore, as Portugal is a major European textile exporter, it is useful for the host country to assess the economic sustainability of its foreign investors. The results provide some policy recommendations regarding the promotion of foreign direct investment (FDI) in Portugal.

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Section: Discussionsupporting

confidence: 83%

Section: Firm Size and Corporate Financial Performancementioning

confidence: 98%

The Impact of Size on the Performance of Transnational Corporations Operating in the Textile Industry in Portugal during the COVID-19 Pandemic

Santos

Castanho

2022

Sustainability

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“…The significantly increased demand for dairy products in the large emerging economies, many of which cannot be supplied domestically, has increased the magnitude of the global dairy trade (von Keyserlingk et al 2013). The current economic situation is complicated; the consequences of the economic crisis are still visible and the companies are searching for ways to achieve the growth (Hýblová 2014). At the same time, advances in the genetics, nutrition, and herd management have resulted in the increased milk yields and an associated reduction in the numbers of farms and cows in many countries (von Keyserlingk et al 2013).…”

Section: Doi: 1017221/126/2015-agriceconmentioning

confidence: 99%

Dairy farm profit according to the herd size, milk yield, and number of cows per worker

Krpálková¹,

Cabrera²,

Kvapilík³

et al. 2016

Agric. Econ. - Czech

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Th e study evaluates the associations of the farm herd size (HERD), the milk yield (MY, kg/cow per year), and cows per worker (CW) with the production, reproduction, and economic traits in 60 commercial dairy herds (34 633 cows) in the Czech Republic. Each parameter was split into 3 groups. Th e largest herds (≥ 750 cows) had the highest profi tability of costs without subsidies (−3.8 ± 4.3%), the lowest cost for roughages (1.2 CZK/L milk), and the lowest cost for breeding operations (0.17 CZK/L milk), but the highest costs for the cereal grains and concentrates (2.4 CZK/L milk). Herds with the lowest MY (≤ 7 499) had the lowest profi tability of costs without subsidies (−15.8 ± 3.93%), the highest total costs (9.27 CZK/L milk), the highest labour costs (1.6 CZK/L milk), and the highest cow depreciation costs (0.97 CZK/L milk). Herds with the lowest CW (≤ 39) had the highest mean labour costs (1.51 CZK/L milk) and the highest costs for breeding operations (0.22 CZK/L milk). Herds with the highest CW (≥ 60) and the lowest CW (≤ 39) also diff ered in the total feed costs (4.1 vs. 3.73 CZK/L milk) and the costs of cereals and concentrates (2.34 vs. 1.96 CZK/L milk). Th e increasing herd size tended to be accompanied by higher milk yields and the overall effi ciency.

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“…However, other studies on the agrifood sector have reported significant negative effects of size on operating profit or loss (Hýblová, ) or on returns on assets (Garcia‐Fuentes et al., ). Thus, the previous literature includes some studies showing that smaller companies can achieve better performance.…”

Section: Conceptual Model and Hypothesesmentioning

confidence: 95%

Firm Size and Financial Performance: Intermediate Effects of Indebtedness

2016

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This paper offers a new perspective for the agricultural economics literature on the relationship between firm size and financial performance. We contribute to the literature by exploring the role of indebtedness in this relationship. Using archival data collected from 83 companies belonging to livestock industries, the empirical findings confirm the hypothesis that indebtedness leverages the effect of size on financial performance. That is to say, indebtedness can enhance the realization of the potential benefits of a larger organizational size. Contrary to expectations, these results reveal that the relationship between size and financial performance is negatively mediated by indebtedness. [EconLit citations: D23; M00; Q13]. C 2016 Wiley Periodicals, Inc.

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Analysis of mergers in Czech agriculture companies

Cited by 9 publications

References 7 publications

The Impact of Size on the Performance of Transnational Corporations Operating in the Textile Industry in Portugal during the COVID-19 Pandemic

The Impact of Size on the Performance of Transnational Corporations Operating in the Textile Industry in Portugal during the COVID-19 Pandemic

Dairy farm profit according to the herd size, milk yield, and number of cows per worker

Firm Size and Financial Performance: Intermediate Effects of Indebtedness

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