Financialisation of the Food Value Chain, Common Ownership and Competition Law

Lianos, Ioannis; Velias, Alina; Katalevsky, Dmitry; Ovchinnikov, George

doi:10.2139/ssrn.3468812

Cited by 2 publications

(2 citation statements)

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“…This phenomenon, often captured by the term ‘common ownership’, has been described as a symptom of the increasing financialization of the global economy [ 56 , 90 , 91 ]. Several scholars have raised concerns about the role of ‘common ownership’ in reducing competition (thereby facilitating the concentration of market power) and driving publicly listed corporations to pursue the maximisation of shareholder value as their primary goal [ 56 , 91 , 92 ]. We also looked at the percentage of traded shares held according to the home country of the shareholder or investor.…”

Section: Methodsmentioning

confidence: 99%

Maximising the wealth of few at the expense of the health of many: a public health analysis of market power and corporate wealth and income distribution in the global soft drink market

et al. 2021

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Background Many of the harms created by the global soft drink industry that directly influence human and planetary health are well documented. However, some of the ways in which the industry indirectly affects population health, via various socio-economic pathways, have received less attention. This paper aimed to analyse the extent to which market power and corporate wealth and income distribution in the global soft drink market negatively impact public health and health equity. In doing so, the paper sought to contribute to the development of a broad-based public health approach to market analysis. A range of dimensions (e.g., market concentration; financial performance; corporate wealth and income distribution) and indicators (e.g., Herfindahl Hirschman Index; earnings relative to the industry average; effective tax rates; and shareholder value ratios) were descriptively analysed. Empirical focus was placed on the two dominant global soft drink manufacturers. Results Coca-Cola Co, and, to a lesser extent, PepsiCo, operate across an extensive patchwork of highly concentrated markets. Both corporations control vast amounts of wealth and resources, and are able to allocate relatively large amounts of money to potentially harmful practices, such as extensive marketing of unhealthy products. Over recent decades, the proportion of wealth and income transferred by these firms to their shareholders has increased substantially; whereas the proportion of wealth and income redistributed by these two firms to the public via income taxes has considerably decreased. Meanwhile, the distribution of soft drink consumption is becoming increasingly skewed towards population groups in low and middle-income countries (LMICs). Conclusions Market power and corporate wealth and income distribution in the global soft drink market likely compound the market’s maldistribution of harms, and indirectly influence health by contributing to social and economic inequalities. Indeed, a ‘double burden of maldistribution’ pattern can be seen, wherein the wealth of the shareholders of the market’s dominant corporations, a group over-represented by a small and wealthy elite, is maximised largely at the expense of the welfare of LMICs and lower socioeconomic groups in high-income countries. If this pattern continues, the appropriate role of the global soft drink market as part of sustainable economic development will require rethinking.

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Section: Methodsmentioning

confidence: 99%

Maximising the wealth of few at the expense of the health of many: a public health analysis of market power and corporate wealth and income distribution in the global soft drink market

et al. 2021

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“…I. Lianos and C. Lombardi made a significant contribution to the development of theoretical and practical issues of expanding intellectual property rights in the food supply chain [1]. Modern aspects of the development of competition in the global seed market are reflected in the work of I. Lianos, D. Katalewski, A. Ivanov [2]. The links between innovation, food system transformation and technology implementation are revealed in the studies of T. Reardon, L. Lu, D. Zilberman [3].…”

Section: Research Methodology and Methodsmentioning

confidence: 99%

Antitrust regulation as a stimulant innovation processes in the agricultural sector

2021

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The article is devoted to the problems of formation of favorable competitive environment in the domestic seed market, reducing the dependence of the domestic market on foreign breeding and genetic materials. The aim of the study is to substantiate new requirements for anti-monopoly regulation of intellectual property in agricultural markets to level out risks to competition. Theoretical basis of the study consists of the publications of modern domestic and foreign scientists on the assessment of risks of restricting access to innovative products and technologies for potential competitors, the development of competition at different levels of the food supply chain. The processes of companies' consolidation at the world seed market and control of the market by the players with intellectual property rights to biotechnologies were reflected. The expediency of development of antitrust regulation in the sphere of intellectual property in the domestic seed market through technological transfer of innovative material to Russian companies is shown. Theoretical significance of the conducted study consists in development of some approaches to anti-monopoly regulation in the sphere of intellectual property in the domestic seed market. The practical significance of the study lies in improving the management of innovation process in the agricultural sector.

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Financialisation of the Food Value Chain, Common Ownership and Competition Law

Cited by 2 publications

References 0 publications

Maximising the wealth of few at the expense of the health of many: a public health analysis of market power and corporate wealth and income distribution in the global soft drink market

Maximising the wealth of few at the expense of the health of many: a public health analysis of market power and corporate wealth and income distribution in the global soft drink market

Antitrust regulation as a stimulant innovation processes in the agricultural sector

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