Economic and financial effects of mergers of cooperatives. Characterisation and analysis of the effect and results of mergers of cooperatives in the spanish agrifood sector

• Autores: Elena Meliá Martí, Ana Martínez García
• Localización: La economía social, pilar de un nuevo modelo de desarrollo económico sostenible / CIRIEC España (dir. congr.), 2011, ISBN 9788495003850
• Idioma: inglés
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• Resumen

  • This study was carried out to characterize the mergers and acquisitions undertaken in the Spanish agrifood sector during the period 1995-2005 and has two objectives. Firstly, it aims to determine the manner in which economic-financial factors influence the type of merger carried out (merger by formation of a new legal person and merger by acquisition), and the role played by cooperatives (acquirer, acquired or cooperative involved in a merger by formation). Secondly, it aims to determine whether these mergers have contributed to reaching any of the objectives they were set out to achieve: improving the economic-financial situation of the companies involved, increasing income and reducing relative costs. The results obtained show that on average, following a merger, there were no statistically significant improvements in the economic-financial indicators studied.