Reference points and risky decision-making in agricultural trade firms: A case study in Germany

Simon Gollisch, Barbara Hedderich and Ludwig Theuvsen

No 260773, Department of Agricultural and Rural Development (DARE) Discussion Papers from Georg-August-Universitaet Goettingen, Department of Agricultural Economics and Rural Development (DARE)

Abstract: Due to the increased uncertainty within the whole agribusiness industry, managerial decision- making has become a critical success factor during the last decades. Since agricultural trade firms are faced with multiple existence-threatening risks today, the present paper analyzes decision-making processes under dramatically tightened external conditions, using the exam- ple of Germany’s agricultural trade industry. By employing a qualitative research design, the empirical study examines two questions: Which determinants do impact the farm dealers’ risky decision-making, and how are these factors interacting? For clarifying these issues, guideline-based in-depth interviews with industry experts are conducted on the basis of a thorough literature review. The results, gained from a qualitative content analysis, help us to better understand how decisions in farm dealing firms are made and which forces are driving them. As especially a decision maker’s reference point plays a prominent role, the present study examines its configuration under different situational and dispositive conditions. The resulting implications provide a useful basis for further research and to a lesser extent some insights for decision makers themselves.

Keywords: Agribusiness; International Relations/Trade (search for similar items in EconPapers)
Pages: 28
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:gadadp:260773

DOI: 10.22004/ag.econ.260773

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