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

Jean-Laurent Viviani () and Paul Amadieu ()
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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

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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.

Keywords: intangible; performance; risk; wine (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (2)

Published in European Review of Agricultural Economics, 2011, 38 (2), pp.237-258. ⟨10.1093/erae/jbr012⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00657391

DOI: 10.1093/erae/jbr012

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