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

Paul Amadieu and Jean-Laurent Viviani ()

European Review of Agricultural Economics, 2011, vol. 38, issue 2, 237-258

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. , Oxford University Press.

Date: 2011
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