Buying Stock in Value-added Companies: an Alternative Choice for Vertical Diversification?

被引：2
作者：
Detre, Joshua D. [1 ]
Wilson, Christine A. [2 ]
Gray, Allan W. [2 ]
机构：
[1] Louisiana State Univ, Dept Agr Econ & Agribusiness, Baton Rouge, LA 70803 USA
[2] Purdue Univ, Dept Agr Econ, W Lafayette, IN 47907 USA
来源：
AGRICULTURAL FINANCE REVIEW | 2007年 / 67卷 / 01期
关键词：
Investment; Risk management; Stock market; Value-added; Vertical diversification; Vertical integration;
D O I：
10.1108/00214660780001204
中图分类号：
F3 [农业经济];
学科分类号：
0202 ; 020205 ; 1203 ;
摘要：
Recent research has indicated that livestock producers who want to manage risk and diversify their operations should invest in the stock market. This research evaluates whether or not a portfolio of publicly held companies that are first handlers of pork products would provide pork producers with a means of enhancing annual returns and reducing the volatility in the annual returns. Ex ante results suggest producers can gain from investment in value-added stocks. Ex post results, however, imply producers must choose active management of their portfolio to receive the same type of benefits as the ex ante portfolio.
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页码：175 / +
页数：23
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