Hostname: page-component-77c89778f8-sh8wx Total loading time: 0 Render date: 2024-07-17T04:21:41.175Z Has data issue: false hasContentIssue false
  • English
  • Français

International Variation in Return on Equity in the Food and Beverage Industries

Published online by Cambridge University Press:  28 April 2015

Yvonne J. Acheampong
Yvonne J. Acheampong*
Affiliation:
Department of Agricultural and Applied Economics, University of Georgia, Athens, GA 30602-7509
Get access Rights & Permissions [Opens in a new window]

Abstract

The objective is to analyze the effects of country- and firm-specific factors on the return on equity in the beverage and tobacco and food and consumer-products industries for 11 industrialized nations. The results indicate that country- and firm-specific factors are important in explaining variation in return on equity within countries but not generally across countries or time.

Keywords

beverage and tobacco industrycountry- and firm-specific factorsfood and consumer-products industryglobalizationunbalanced panel datavariation in return on equity
Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 32 , Issue 2 , August 2000 , pp. 383 - 392
Copyright
Copyright © Southern Agricultural Economics Association 2000

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Bahmani-Oskooee, M., and Ltaifa, N.. “Effects of Exchange Rate Risk on Exports: Cross-country Analysis.” World Development 20(1992):1173–1181.CrossRefGoogle Scholar
Blaine, M. “Comparing the Profitability of Firms in Germany, Japan, and the United States.” Management International Review 34,2(1994):125–148.Google Scholar
Brigham, E.FFundamentals of Financial Management. 7th ed. Fort Worth: The Dryden Press, 1995.Google Scholar
Business Week. “The Business Week Global 1000.” Business Week July 17, 16, 15, 13, 12, 11, and 10 issues of 1989-1995, respectively.Google Scholar
Emery, D.R. and Finnerty, J.D.. Corporate Financial Management New York: Prentice Hall, 1997.Google Scholar
Fuller, R.J., and Petty, G.H.. “Inflation, Return on Equity, and Stock Prices.” Journal of Portfolio Management 7,4(1981):19–25.CrossRefGoogle Scholar
Geringer, M., Beamish, P., and daCosta, R.. “Diversification Strategy and Internationalization: Implications for MNE Performance.” Strategic Management Journal 10(1989):109–119.CrossRefGoogle Scholar
Ghoshal, S., and Nohria, N.. “Horses for Courses: Organizational Forms for Multinational Corporations.” Sloan Management Review 34,2 (1993):23–25.Google Scholar
Greene, W.H.Limdep Version 7.0 User's Manual. Plainview: Econometric Software, Inc., 1995.Google Scholar
Hergert, M. “Will Corporate Performance Decline in an Improving Economy?” Journal of Business Strategy 3,4(1983):101–105.CrossRefGoogle Scholar
Hirschey, M., and Koch, R.K.. “The Global Variation In Financial Ratios.” Advances in Financial Economics 1(1995):17–35.Google Scholar
International Monetary Fund. “Globalization Opportunities and Challenges.” World Economic Outlook, May 1997.Google Scholar
International Monetary Fund. International Financial Statistics. IMF, Washington DC, May 1997.Google Scholar
Lee, J., and Blevins, D.E.. “Profitability and Sales Growth in Industrialized Versus Newly Industrializing Countries.” Management International Review 30(1990):87–100.Google Scholar
Levonian, M.E. “The Persistence of Bank Profits: What the Stock Market Implies.” Economic Review. Federal Reserve Bank of San Francisco 2(1994):3–17.Google Scholar
Lubbers, R.FM. “The Globalization of Economy and Society.” Articles by R.F.M. Lubbers. Unpublished paper, J.E Kennedy School of Government, Harvard University (1997). Online. Available http://www.globalize.org/globview.htm.Google Scholar
Political Risk Services. Political Risk Yearbook. PRS, New York. Asia and the Pacific, Europe, EU, North America and Central America issues, 1989-1996.Google Scholar
Price Waterhouse. Corporate Taxes. A Worldwide Summary. Price Waterhouse, New York. 1989-1995 issues.Google Scholar
Public Utilities Fortnightly. “ROE determinants— Risk factors” Public Utilities Fortnightly 133,5(March 1, 1995):45.Google Scholar
Soenen, L., and Van den Bulke, D.. “Belgium's Largest Industrial Companies: A Comparison of Size and Financial Performance between Foreign and Belgian Owned Firms.” Management International Review 28(1)(1988):51–63.Google Scholar
Teitelbaum, R.S. “What's Driving Return On Equity?” Fortune 133,8(April 29, 1996):271–276.Google Scholar
The MIT Dictionary of Modern Economics. 4 ed. Cambridge: The MIT Press, 1992.Google Scholar
Varian, H.R.Microeconomic Analysis. 3rd. ed. New York: W.W. Norton and Company, 1992.Google Scholar
Wall, A. “Study of Credit Barometrics.” Federal Reserve Bulletin (March, 1919):229–243.Google Scholar