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International Investment Motivations Of U.S. Wineries

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  • Pompelli, Greg
  • Pick, Daniel H.

Abstract

This study used personal and telephone interviews of wine industry executives and observers to examine the foreign direct investment motivations of U.S. wineries. Underlying most winery motivations was the recognition that U.S. wineries sense increasing pressure to offer a competitive range of wines that meet the price/quality needs of consumers and retailers in important markets and market segments. Wineries' marketing plans are often constrained by their ability to obtain adequate grape and juice supplies that meet important price and quality criteria, especially when domestic grape production drops. The importance of product portfolios and the industry's resource dependence have placed tremendous pressures on U.S. wineries to coordinate winegrape and juice acquisitions, especially as retailers consolidate their supply chains. Some U.S. wineries have invested abroad in response to these pressures while others have not. Interview results suggest that foreign investments by U.S. wineries were primarily motivated by the need for greater access to stable or adequate winegrape/juice supplies, the need for more control over the winegrape costs within given quality levels, and the desire to expand wine portfolios.

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Bibliographic Info

Article provided by International Food and Agribusiness Management Association (IAMA) in its journal International Food and Agribusiness Management Review.

Volume (Year): 02 (1999)
Issue (Month): 01 ()
Pages:

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Handle: RePEc:ags:ifaamr:34347

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Keywords: International Relations/Trade;

References

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  1. Morison, Julian B. & Officer, Linda J., 1992. "Factors Affecting Japanese Investment in the Australian Beef Industry," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 60(03), December.
  2. John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan, vol. 11(1), pages 9-31, March.
  3. James R. Markusen, 1995. "The Boundaries of Multinational Enterprises and the Theory of International Trade," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 169-189, Spring.
  4. Handy, Charles R., 1993. "Multinational Food Marketing: Competitive Strategies Of U.S. Firms," Journal of Food Distribution Research, Food Distribution Research Society, vol. 24(1), February.
  5. de Meza, David & van der Ploeg, Frederick, 1987. "Production Flexibility as a Motive for Multinationality," Journal of Industrial Economics, Wiley Blackwell, vol. 35(3), pages 343-51, March.
  6. Horst, Thomas, 1972. "Firm and Industry Determinants of the Decision to Invest Abroad: An Empirical Study," The Review of Economics and Statistics, MIT Press, vol. 54(3), pages 258-66, August.
  7. Christy, David P. & Grout, John R., 1994. "Safeguarding supply chain relationships," International Journal of Production Economics, Elsevier, vol. 36(3), pages 233-242, October.
  8. Juan B. Solana-Rosillo & Philip C. Abbott, 1998. "International Entry Mode Decisions by Agribusiness Firms: Distribution and Market Power," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(5), pages 1080-1086.
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Cited by:
  1. L. Cusmano & A. Morrison & R. Rabellotti, 2009. "Catching-up Trajectories in the Wine Sector: A Comparative Study on Chile, Italy and South Africa," Working Papers Prin 001, Dipartimento Scienze Economiche, Universita' di Bologna.

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