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Intangible expenses: a solution to increase the French wine industry performance?

Author

Listed:
  • Jean-Laurent Viviani

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

  • Paul Amadieu

    (MRM - Montpellier Research in Management - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - UM2 - Université Montpellier 2 - Sciences et Techniques - UPVD - Université de Perpignan Via Domitia - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

Abstract

This paper presents an empirical investigation of the link between intangible expenses of French wine companies and their financial performance. A flexible moment-based approach is used to analyse the impact of tangible and intangible expenses on the mean, variance and skewness of profit. Econometric evidence shows that a high level of intangible expenses has a positive impact on performance by increasing the expected profit and reducing variance risk. A lower level of intangible expenses reduces risk and mean of profit of corporations. This study provides insights on the use of intangible expenses as a risk management tool.

Suggested Citation

  • Jean-Laurent Viviani & Paul Amadieu, 2011. "Intangible expenses: a solution to increase the French wine industry performance?," Post-Print halshs-00657391, HAL.
    • Handle: RePEc:hal:journl:halshs-00657391
    DOI: 10.1093/erae/jbr012
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    Cited by:

    1. Saïsset, L.A. & Couderc, J.P., 2013. "Les trois dimensions de la gouvernance coopérative : à la recherche d'un équilibre instable. Le cas des caves coopératives en Languedoc-Roussillon [France]," Working Papers MoISA 201302, UMR MoISA : Montpellier Interdisciplinary center on Sustainable Agri-food systems (social and nutritional sciences): CIHEAM-IAMM, CIRAD, INRAE, L'Institut Agro, Montpellier SupAgro, IRD - Montpellier, France.
    2. Damien Rousselière, 2019. "A Flexible Approach to Age Dependence in Organizational Mortality: Comparing the Life Duration for Cooperative and Non-Cooperative Enterprises Using a Bayesian Generalized Additive Discrete Time Survi," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(4), pages 829-855, December.

    More about this item

    Keywords

    intangible; performance; risk; wine;
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