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Intangibles Effort and Performance: The Case of the French Wine Industry

Author

Listed:
  • 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)

  • 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)

Abstract

This study investigates to what extent intangible investments have a positive impact on French wine companies' financial performance. French wine companies are small- and medium-sized enterprises (SMEs), so the task is (a) to measure their intangible expenses and capital, and (b) to estimate their impact on companies' performances. The authors then analyze the effect of property structures (cooperatives and corporations) and business activities on the intensity of the relationship between intangibility and performance. Relationships between intangibles and performance were tested empirically by means of a questionnaire carried out in 2005-2006. Questionnaire data were completed using financial statements for 207 companies whose activity included one or more stages in the production and marketing of wine. Using MANOVA and the production function approach, the authors found evidence that intangible proxies had a negative impact on the firms' economic performance measurements and a positive impact on commercial performance for intermediate values of intangible ratios. They also found that production functions were very different with regard to legal status and business activity, but that the negative impact of intangible proxies remained.

Suggested Citation

  • Paul Amadieu & Jean-Laurent Viviani, 2010. "Intangibles Effort and Performance: The Case of the French Wine Industry," Post-Print hal-00840142, HAL.
    • Handle: RePEc:hal:journl:hal-00840142
    DOI: 10.1002/agr.20226
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    Cited by:

    1. Roxana-Gabriela Mozolea & Sorin Gabriel Anton, 2021. "The Impact of Investments in Intangible Assets and Implications on SMEs’ Performance. A Systematic Literature Review," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1060-1071, December.
    2. Salazar Idana & Galve Górriz Carmen, 2011. "Determinants of the Differences in the Downstream Vertical Integration and Efficiency Implications in Agricultural Cooperatives," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-26, February.
    3. Francesca Bartolacci & Andrea Caputo & Michela Soverchia, 2020. "Sustainability and financial performance of small and medium sized enterprises: A bibliometric and systematic literature review," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1297-1309, March.
    4. Rosa M. Muñoz & M. Valle Fernández & Yolanda Salinero, 2020. "Sustainability, Corporate Social Responsibility, and Performance in the Spanish Wine Sector," Sustainability, MDPI, vol. 13(1), pages 1-9, December.
    5. Ernesto Lopez‐Valeiras & Jacobo Gomez‐Conde & Teresa Fernandez‐Rodriguez, 2016. "Firm Size and Financial Performance: Intermediate Effects of Indebtedness," Agribusiness, John Wiley & Sons, Ltd., vol. 32(4), pages 454-465, November.
    6. Silvia Andr?s Gonz?lez-Moralejo & Mildrey Garc?a Cort?s & Juan Francisco L?pez Miquel, 2021. "Are small and medium-size food industry firms profitable? Explaining differences in their performance: The case of the Valencia Region," Economia agro-alimentare, FrancoAngeli Editore, vol. 23(1), pages 1-24.
    7. Andrés González-Moralejo, Silvia & García Cortés, Mildrey & López Miquel, Juan Francisco, . "Are small and medium-size food industry firms profitable? Explaining differences in their performance: The case of the Valencia Region," Economia agro-alimentare / Food Economy, Italian Society of Agri-food Economics/Società Italiana di Economia Agro-Alimentare (SIEA), vol. 23(01).
    8. Juan Ramón Ferrer & María‐Carmen García‐Cortijo & Juan‐Sebastián Castillo Valero & Vicente Pinilla & Raúl Serrano, 2024. "Cooperatives and sustainability drivers in the Spanish wine sector. What differences do we find with investor owner firms?," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 95(2), pages 505-526, June.

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