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La política sueca en matèria d’alcohol durant el segle xx va ser una de les més estrictes d’Europa i va afectar els productors, entre ells els fabricants de cervesa amb alcohol. Aquest article analitza l’evolució de la producció i la rendibilitat de les empreses cerveseres després de la prohibició de la cervesa forta el 1923. Les empreses cerveseres van intentar trobar altres oportunitats d’alta rendibilitat, per exemple, augmentant la producció de begudes no alcohòliques i arribant a altres segments del públic consumidor. Tanmateix, tant la producció com la rendibilitat van disminuir, i per això la diversificació sembla haver estat més aviat negativa per a la indústria de la cervesa, encara que no fou així per al conjunt dels seus actors. L’article conclou que, si bé la diversificació va proporcionar a les empreses cerveseres una manera d’arribar a altres consumidors, van ser els actors més grans els que van estar més ben situats per obtenir els beneficis d’un entorn de mercat tancat. Així, doncs, l’article mostra com la diversificació de la producció pot ser el resultat d’una intervenció governamental, que afectarà negativament o positivament els resultats de les empreses, depenent de l’estructura del mercat, la competència i l’estructura de costos., Sweden’s alcohol policy during the 20th century was one of the strictest in Europe and it affected producers, such as alcoholic-beer brewers. This article analyses how production and profitability developed among brewery firms following the 1923 prohibition of strong beer. Breweries tried to find other high-return opportunities, for example by increasing the production of non-alcoholic beverages and reaching other segments of the consuming public. However, both production and profitability declined, hence diversification seems to have been rather negative for the brewery industry, although not for all its actors. The article concludes that while diversification gave breweries a way to reach other consumers, it was the largest actors that were best placed to reap the benefits of the closed-off market environment. Thus, the article shows how diversification of production may be a result of government intervention, which will affect firm performance negatively or positively, depending on market structure, competition, and cost structure., La política sueca en materia de alcohol durante el siglo XX fue una de las más estrictas de Europa y afectó a los productores, como fue el caso de los fabricantes de cerveza con alcohol. Este artículo analiza la evolución de la producción y la rentabilidad de las empresas cerveceras tras la prohibición de la cerveza fuerte en 1923. Las empresas cerveceras intentaron encontrar otras oportunidades de alta rentabilidad, por ejemplo, aumentando la producción de bebidas no alcohólicas y llegando a otros segmentos del público consumidor. Sin embargo, tanto la producción como la rentabilidad disminuyeron, por lo que la diversificación parece haber sido más bien negativa para la industria de la cerveza, aunque no para el conjunto de sus actores. El artículo concluye que, si bien la diversificación proporcionó a las cerveceras una forma de llegar a otros consumidores, fueron los mayores actores los mejor situados para cosechar los beneficios de un entorno de mercado cerrado. Así pues, el artículo muestra cómo la diversificación de la producción puede ser el resultado de una intervención gubernamental, que afectará negativa o positivamente a los resultados de las empresas, dependiendo de la estructura del mercado, la competencia y la estructura de costes.

In February 2017, Portugal implemented a tax on sugar-sweetened beverages (SSBs), under which producers were to be taxed according to the amount of sugar contained in the drinks they manufactured. We exploit administrative accounting data covering the universe of Portuguese firms between 2012 and 2019 to assess the causal impact of this tax on the behavior and performance of producers of SSBs. Our identification strategy relies on event study specifications, using producers of bottled water as counterfactual. Our findings indicate that SSBs producers became significantly less profitable in the post-tax period, vis-à-vis water bottlers, which was driven by a significant decrease in domestic sales. The soda tax hindered firms' capacity to convert receivables into cash and financial health deteriorated as liabilities grew. SSBs producers did not respond to this negative shock by cutting jobs or modifying their labor force towards relatively more skilled labor or higher R&D capacity. Im Februar 2017 führte Portugal eine Steuer auf zuckergesüßte Getränke (SSB) ein, nach der Hersteller je nach der in den von ihnen hergestellten Getränken enthaltenen Zuckermenge besteuert wurden. Wir nutzen administrative Buchhaltungsdaten portugiesischer Unternehmen aus dem Zeitraum zwischen 2012 und 2019, um die kausalen Auswirkungen dieser Steuer auf das Verhalten und die Leistung der Hersteller von SSB zu bewerten. Unsere Identifikationsstrategie basiert auf Spezifikationen für Ereignisstudien, wobei Hersteller von abgefülltem Wasser als Kontrafaktum verwendet werden. Unsere Ergebnisse zeigen, dass die Hersteller von SSB in der Zeit nach der Einführung der Steuer gegenüber den Wasserabfüllern deutlich weniger rentabel wurden. Dies war auf einen erheblichen Rückgang der Verkäufe im Inland zurückzuführen. Die Soda-Steuer behinderte die Fähigkeit der Unternehmen, Forderungen in Bargeld umzuwandeln, und ihr finanzieller Zustand verschlechterte sich, weil ihre Verbindlichkeiten wuchsen. Die Getränkehersteller reagierten auf diesen negativen Schock nicht mit dem Abbau von Arbeitsplätzen oder der Umstellung ihrer Belegschaft auf relativ höher qualifizierte Arbeitskräfte oder höhere F&E-Kapazitäten.

Numerous recently uncovered cartels operated along the supply chain, with firms at one end facilitating collusion at the other - hub-and-spoke arrangements. These cartels are hard to rationalize because they induce double marginalization and higher costs. We examine Canada's alleged bread cartel and provide the first comprehensive analysis of hub-and-spoke collusion. We make three contributions: i) Using court documents and pricing data we provide evidence that collusion existed at both ends of the supply chain, ii) we show that collusion was effective, increasing inflation by about 40% and iii) we provide a model explaining why this form of collusion arose.

We study how the introduction of private-label brands (PLs) affects retailers’ prices, demand, and profits, explicitly accounting for assortment adjustments of national brands (NBs) in retail stores. Using a detailed dataset on the U.S. beef market, we find that, when PLs are added to the low-priced market segment, stores reposition NBs to further differentiate them from the PL and remove NBs from the same market segment. However, if PLs are introduced into the high-priced segment, NBs are not repositioned or removed from the same segment; this way, the store can compete with other stores in product variety. PL introduction and PL-driven assortment changes of NBs impose a small effect on NB prices. In contrast, PLs strongly cannibalize NB demand, and the assortment changes help steer consumers toward PLs, which imposes large negative effects on NB demands and increases store-level profits.

We study the effect of a merger between two Dutch supermarket chains to assess its effect on the depth as well as composition of assortment. We adopt a difference-in-differences strategy that exploits local variation in the merger’s effects, controlling for selection on observables through a matching procedure when defining our control group. We show that the merger led the merging parties to reposition their assortment to avoid cannibalization in the areas where they directly competed before the merger. While the low-variety target’s stores reduced the depth of their assortment when in direct competition with the acquirer, the latter increased their assortment. This suggests that variety is a strategic variable in retail chains’ response to changes in local competition.

This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. For this purpose, a spatial stochastic frontier model is specified and estimated, accounting for spatial dependence and persistent and transient (in)efficiency. This approach is applied to a panel dataset from 2014 to 2019 of Portuguese wineries. Apart from the traditional input and output quantities used in the estimation of a production function, the novelty of this study is the inclusion of information on the firms’ exact location, which allows incorporating the neighboring dependence in the productive efficiency analysis. Empirical findings show that despite the Portuguese wineries’ technological positive dependence on spatial closeness for both inputs and outputs, the geographic closeness is not strong enough to provide overall productive efficiency gains.

The beer market in Germany may be described as a monopolistic competition with many breweries supplying a very large variety of different beer styles and brands. Advertising is one means of differentiating a product and increasing prices over marginal costs. Based on production data obtained from a sample of 197 German breweries and thirteen years of observation, we derive firm-specific markups, profit ratios and prices in each year and relate those to their advertising expenditures and firm size. We are able to show that advertising expenditures are positively correlated to a brewery's markup, profit ratio and price while firm size is negatively correlated.

This paper analyzes the effects of a merger between a German supermarket chain and a soft discounter on consumer prices. We exploit geographic variation in prices within retail chains and brands and use a difference-in-differences estimator to compare regional markets with a change in market structure to a control group in unaffected markets. Our results indicate that both insiders and outsiders raised average prices after the merger, particularly in regions with high expected change in retail concentration. In contrast, we estimate price declines in regions that did not experience a rise in concentration but were potentially affected by cost savings within the merged entity. We also provide evidence that remedies imposed by competition authorities were not sufficient to o set anti-competitive effects.

Assortment decisions are key strategic instruments for firms responding to local market conditions. We assess this claim by studying the effect of a national merger between two large Dutch supermarket chains on prices and on the depth as well as composition of assortment. We adopt a difference-in-differences strategy that exploits local variation in the merger's effects, controlling for selection on observables when defining our control group through a matching procedure. We show that the local change in competitive conditions due to the merger did not affect individual products' prices but it led the merging parties to reposition their assortment and increase average category prices. While the low-variety and low-price target's stores reduced the depth of their assortment when in direct competition with the acquirer's stores, the latter increased their product variety. By analyzing the effect of the merger on category prices, we find that the target most likely dropped high priced products, while the acquirer added more of them. Thus, the merging firms reposition their product offerings in order to avoid cannibalization and lessen local competition. Further, we show that other dimensions of heterogeneity, such as market concentration, whether a divestiture was imposed by the Dutch competition authority, and the re-branding strategy of the target stores, are important for explaining the post-merger dynamics. A simple theoretical model of local-market variety competition explains most of our findings.

In diesem Bericht wird ein umfangreicher Datensatz von über sechs Millionen Haushaltsstromtarifen für alle Postleitzahlgebiete Deutschlands analysiert. Die Entwicklung der Einzelhandelsstrompreise zwischen Januar 2007 und August 2014 unterscheidet sich je nach Anbieter und Tarif stark. Während sich die Grundversorgungstarife um rund 50 Prozent verteuert haben, sind die jeweils günstigsten Tarife im Markt weitgehend konstant geblieben. Ein wesentlicher Grund für die unterschiedlichen Tarifentwicklungen ist, dass die Stromlieferanten Änderungen ihrer Kosten in unterschiedlichem Maß an die Haushalte weitergegeben haben. Eine Regressionsanalyse zeigt, dass in den Grundversorgungstarifen von jedem Euro Kostenersparnis, beispielsweise aufgrund gesunkener Großhandelspreise, nur rund 40 bis 60 Cent an die VerbraucherInnen weitergegeben wurden. Bei den günstigsten Tarifen im Markt wurden Kostensenkungen dagegen so gut wie vollständig weitergegeben. Damit noch mehr Haushalte in Deutschland von den Wechselmöglichkeiten zu günstigeren Stromlieferanten profitieren können, erscheint eine weitere Verbesserung der Informationsgrundlage sinnvoll. Zusätzlich sollte die Einführung weiterer „leichter“ Regulierungsinstrumente geprüft werden., DIW Wochenbericht

The article empirically examines the timing of initial decisions to adopt food safety systems and subsequent decisions to maintain the certification. Survival models are used to evaluate firm-level decisions among seafood processors in the Philippines. Whereas initial certification decisions were influenced mainly by easily obtainable a priori indicators such as output price, scale of production, and association membership, decisions to continue certification were influenced by a larger number of less-visible factors including price differentials across markets and cost structures. Managerial hubris may have played a role in initial certification decisions, but decertification decisions were more informed by realized cost–benefit comparisons. Results highlight tendencies to initially overestimate of benefits and underestimate costs of food safety certifications, resulting in unrealistically optimistic projections and may lead to adverse firm performance.

In den letzten Jahrzehnten hat der Lebensmitteleinzelhandel in ganz Europa einen erheblichen Restrukturierungsprozess durchlaufen. Während der Wettbewerbsdruck durch die Billigdiscounter gestiegen ist, nahm gleichzeitig in weiten Teilen Europas die Marktkonzentration durch Fusionen und Übernahmen unter Einzelhandelsketten zu, die bereits vorher über eine erhebliche Marktmacht verfügten. Aus diesem Grund achten die Wettbewerbsbehörden in dieser Branche besonders sorgfältig auf die Einhaltung wettbewerbspolitischer Regelungen, damit die Marktkonzentration nicht ein besorgniserregendes Maß annimmt. In einer Studie für die niederländische Autoriteit Consument & Markt (ACM), haben wir die Auswirkungen dreier nationaler Unternehmenszusammenschlüsse im niederländischen Lebensmittelmarkt zwischen 2009 und 2012 untersucht, welche von der ACM unter der Auflage, Filialen zu verkaufen, genehmigt wurden. Wir kommen zu dem Ergebnis, dass die Zusammenschlüsse keine erheblichen Auswirkungen auf die Preise hatten. Allerdings reduzierte der letzte Zusammenschluss in signifikantem Maße die Breite des Sortiments und damit die Auswahlmöglichkeiten der Konsumenten. Die von der ACM angeordneten Filialverkäufe konnten die negativen Folgen durch die Zusammenschlüsse nur teilweise begrenzen. Over the past decades the grocery retail sector underwent a significant restructuring process throughout Europe. While competition from hard-discounters has grown, in most European countries concentration has also increased as a consequence of mergers and acquisitions among already powerful retail chains. These considerationslead antitrust authorities to very cautiously enforce competition policy in this sector with the aim of preventing the market getting worryingly concentrated. Ina study for the Dutch Autoriteit Consument & Markt (ACM), we examined the effects of a series of three national mergers in the Dutch grocery markets between 2009 and 2012 that have been approved by the ACM subject to divestitures. We find that the mergers did not have significant effects on prices. However, we find that the last mergersignificantly reduced the depth of products' assortment and, consequently, reduced consumers' choice. Moreover, the divestitures imposed by the ACM were onlypartially able to outweigh the reduction in variety caused by the mergers.

A rising number of firms from developing countries have adopted voluntary private standards in the last decade. This has become an area of active research, especially in terms of the impact of private standards on trade, organizational performance, and employee outcomes. This paper analyses how standards affect labour productivity of small and medium firms from the food sector in Viet Nam. The results based on a 3-year panel show that the application of private standards improves labour productivity. These gains primarily occur to firms operating above a threshold labour-intensity level. Firms with low labour intensity are not likely to experience gains in labour productivity from standards. This implies that employee compensation increase due to standards is a likely mechanism for labour productivity gains. The results are robust to several specification changes and instrumental variable estimation.

Unlike most retrospective merger studies that only focus on price effects, we also estimate the impact of a merger on product variety. We use an original dataset on Dutch supermarkets to assess the effect of a merger that was conditionally approved by the Dutch Competition Authority (ACM) on prices and the depth of assortment. We find that the merger did not affect prices but it led the merging parties to decrease the depth of their assortment, thereby reducing consumer choice. This effect is mainly driven by a reduction in variety for stores that were not re-branded after the merger, suggesting that the merging firms reposition their product offerings in order to avoid cannibalization. We also find that the reduction in variety for the merging parties is partially compensated by competitors increasing variety, except in very concentrated markets where all firms decrease variety. The issuance of divestitures partially outweighed the negative effect of the merger. Yet, it appears that additional divestitures would have been necessary to remove completely the adverse effect of the merger on the depth of assortment.

The article is devoted to the issues of raising the profitability of stationary apiaries in Poland. The research basis is the characteristics of the branch based on the annual reports of the Research Institute of Pomology and Floriculture in Puławy, the calculation of revenues and costs as well as the assets. The right measurement of profitability comes down to determining the profit threshold and establishing the value of ROA (return-on-assets) and ROS (return-on-sale) ratios depending on the size of the farm and the distribution channel. In the further part of the article various methods of improving the results are considered. They have been gathered in three main areas: reduction of costs, mechanization and the utilization of economies of scale as well as widening the range of offered products (bee pollen, nuclei). The aim of my research is proving that the establishing and developing of apiaries brings financia l benefits and that there is a huge space allowing beekeepers to improve their financial results. Artykuł poświęcony został podnoszeniu rentowności pasiek stacjonarnych w Polsce. Podstawą badawczą jest tu charakterystyka branży oparta o coroczne raporty Instytutu Kwiaciarstwa i Sadownictwa w Puławach oraz kalkulacja przychodów i kosztów oraz składników majątku. Właściwy pomiar zyskowności sprowadza się do wyznaczenia progów rentowności i ustalenia wartości wskaźników ROA i ROS w zależności od rozmiaru gospodarstw i kanału dystrybucji. W dalszej części rozpatrywane są różne metody prowadzące do poprawy otrzymanych wyników zamknięte w trzech obszarach: redukcji kosztów, mechanizacji i wykorzystania efektów skali produkcji, oraz poszerzenia oferty o nowe produkty (pyłek pszczeli, odkłady). Celem badań jest udowodnienie zasadności zakładania i rozwijania pasiek z uwagi na korzyści materialne a także wykazanie, że istnieje znacząca przestrzeń pozwalająca na poprawę wyników finansowych.