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/lp/emerald-publishing/vertical-diversification-in-the-pork-industry-a-portfolio-theory-fXpmsr7AkN
- Publisher
- Emerald Publishing
- Copyright
- Copyright © Emerald Group Publishing Limited
- ISSN
- 0002-1466
- DOI
- 10.1108/00214950280001136
- Publisher site
- See Article on Publisher Site
Abstract
Markowitzs meanvariance approach is used to identify the returns to vertical investment in the pork industry. In addition to previous efforts, this paper considers not only returns to stock ownership, but uses operating return on investment in pork slaughter and hog production to evaluate the impacts of vertical investment within the industry segment. Results suggest there are indeed diversification incentives for vertical investment in the pork industry. However, results do differ for vertical direct investment versus investment through stock ownership.
Journal
Agricultural Finance Review – Emerald Publishing
Published: Nov 1, 2002