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Export Implicit Financial Performance: The Case of French Wine Companies

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  • Viviani, Jean-Laurent

Abstract

Noting the difficulties of measuring a company’s export performance and especially financial performance, we develop a new measurement approach grounded on modern portfolio theory. The export intensities and the global financial performance of exporting companies being known, this approach allows deducing the export margin ratio, export risk and correlation of domestic activities with export activities. Using a sampling from French companies in the wine industry from 2001-2005, these implicit financial export performance characteristics are estimated. Main results found: export activities permit a better global margin-risk relationship essentially due to diversification gains because export financial performance seems to be inferior to the domestic one for a great majority of companies.

Suggested Citation

  • Viviani, Jean-Laurent, 2009. "Export Implicit Financial Performance: The Case of French Wine Companies," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 12(3), pages 1-26, September.
    • Handle: RePEc:ags:ifaamr:53795
    DOI: 10.22004/ag.econ.53795
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    Cited by:

    1. Camélia TURCU & Mihai MUTASCU & Albert LESSOUA, 2020. "Firms’ Performance and Exports: The Case of Romanian Winemakers," LEO Working Papers / DR LEO 2747, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    2. Albert Lessoua & Mihai Mutascu & Camélia Turcu, 2018. "Financial performance and exports: the case of Romanian winemakers," Working Papers 2018.07, International Network for Economic Research - INFER.

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    Keywords

    Agricultural Finance; Financial Economics;

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