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Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2025) 1.5 Q3
Journal Citation IndicatorTM (2025) 0.25 Q4
Received: 2026-02-18  |  Accepted: 2026-04-25  |  Published: 2026-06-30

Title

The role of GDP and the macroeconomic environment in shaping international trade and agri-food sector restructuring in Europe


Abstract

Mergers and acquisitions represent a key strategic tool for growth and restructuring among leading companies on a global scale. This trend is especially evident in the agri-food sector, which has experienced significant consolidation over recent decades. Consolidation processes are occurring with remarkable intensity across all stages of the agri-food supply chain, from primary production and processing to distribution and retail. The aim of this paper is to investigate the relationship between macroeconomic factors and cross-border M&A activity in the agri-food sector within European countries over the period from 1998 to 2023. More specifically, the study focuses on quantifying the impact of gross domestic product on the volume of cross-border mergers and acquisitions. Using panel data and advanced econometric models, the research examines whether countries with higher economic performance tend to engage more actively in M&A transactions. The findings demonstrate a statistically significant positive correlation between the percentage growth of GDP and the percentage increase in cross-border M&A volume, suggesting that economically strong European countries are more likely to pursue and complete mergers and acquisitions within the agri-food industry. This relationship underscores the critical role of economic growth as a driver of consolidation and expansion strategies in this sector, providing valuable insights for policymakers and business leaders aiming to understand and influence market dynamics.


Keywords

mergers and acquisitions, agri-food sector, consolidation, international trade, European area


JEL classifications

G34 , O11 , Q13


URI

http://jssidoi.org/jesi/article/6658


DOI


Pages

338-350


Funding

This research was funded by the Cultural and Educational Grant Agency of the Ministry of Education, Science, Research and Sport of the Slovak Republic under grants KEGA 031PU-4/2025; KEGA 012PU-4/2023”, also by the Scientific Grant Agency of the Ministry of Education, Science, Research, and Sport of the Slovak Republic and the Slovak Academy of Sciences, grant number VEGA 1/0461/23; and by Grant Agency for Research in Management, Faculty of Management and Business, University of Prešov in Prešov, grant number GAMA 25/2; and by the Academia aurea Grant Agency, grant number GAAA/2023/29”.

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Vozárová, Ivana Kravčáková
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Košíková, Martina
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Chapčáková, Alexandra
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Dizaye, Hawree
University of Prešov, Prešov, Slovakia http://www.unipo.sk
Tomas Bata University in Zlín, Zlín, Czech Republic https://www.utb.cz
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Smatana, Juraj
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Stanko, Vladislav
University of Prešov, Prešov, Slovakia http://www.unipo.sk
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Journal title

Entrepreneurship and Sustainability Issues

Volume

13


Number

4


Issue date

June 2026


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 600  |  PDF downloads: 499

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