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The quality of the Argentinean Malbec and the weather in the Mendoza region 阿根廷马尔贝克的品质和门多萨地区的天气
IF 1.8 Q1 AGRONOMY Pub Date : 2023-05-18 DOI: 10.1108/ijwbr-10-2022-0036
V. Charlin, Arturo Cifuentes
PurposeThe climate in Mendoza is significantly different from the climate in most global wine-making regions. This paper aims to explore the relationship between the quality of the Malbec wine from the Mendoza region and its weather.Design/methodology/approachThis study uses a multivariate regression model with fixed effects to assess how weather variations relate to wine quality. The Wine Spectator ratings are used as a measure of wine quality and to build a longitudinal data set of Malbec wine ratings from 1995 to 2020. The weather is described with several variables based on temperature, rainfall, humidity and cloudiness data from the Mendoza region. The model controls for wineries which are treated as fixed effects.FindingsThe results of this study indicate that the weather has a modest explanatory power when it comes to the quality of Mendoza’s Malbec. Additionally, the analyses show that the wineries are more important than the weather to explain quality differences in the wines. These findings are in agreement with previous studies carried out in regions with stable weather such as California and Australia.Practical implicationsThe quality of Mendoza’s Malbec depends more on the winery of origin than the year-to-year weather variations. Therefore, consumers should focus more on the winery and less on the vintage when making purchasing decisions. Additionally, given the relevance of the winery in relation to quality, the findings of this study indicate that future research efforts should focus on directly linking the wine ratings to quality-drivers behind the winery effects.Originality/valueTo the best of the authors’ knowledge, this is the first study that explores the relationship between wine quality assessed through wine ratings and the weather in the Mendoza (Argentina) region. Most such studies have been done in connection with northern hemisphere wines.
目的门多萨的气候与全球大多数酿酒地区的气候有很大不同。本文旨在探讨门多萨地区马尔贝克葡萄酒的质量与天气之间的关系。设计/方法/方法本研究使用具有固定影响的多元回归模型来评估天气变化与葡萄酒质量的关系。《葡萄酒观察家》评级用于衡量葡萄酒质量,并建立1995年至2020年马尔贝克葡萄酒评级的纵向数据集。根据门多萨地区的温度、降雨量、湿度和云量数据,用几个变量来描述天气。该模型控制被视为固定效果的酒厂。发现这项研究的结果表明,天气对门多萨马尔贝克的质量有一定的解释力。此外,分析表明,在解释葡萄酒质量差异方面,酒庄比天气更重要。这些发现与之前在加利福尼亚和澳大利亚等天气稳定地区进行的研究一致。实际意义门多萨马尔贝克葡萄酒的质量更多地取决于原产地,而不是逐年的天气变化。因此,消费者在做出购买决定时,应该更多地关注酒庄,而不是年份。此外,考虑到酒庄与质量的相关性,这项研究的结果表明,未来的研究工作应该集中在将葡萄酒评级与酒庄效应背后的质量驱动因素直接联系起来。独创性/价值据作者所知,这是第一项探索门多萨(阿根廷)地区通过葡萄酒评级评估的葡萄酒质量与天气之间关系的研究。大多数这样的研究都是针对北半球的葡萄酒进行的。
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引用次数: 0
Strategic utilization of terroir in Japanese sake industry 日本清酒产业对风土的战略利用
IF 1.8 Q1 AGRONOMY Pub Date : 2023-05-12 DOI: 10.1108/ijwbr-12-2022-0048
Kuo-Che Tseng, Yasuyuki Kishi
PurposeWith the ongoing industrial transformation of the Japanese sake industry and the continuous growth of exports in recent years, terroir, one of the core concepts in the wine culture, has been strategically used in the sake industry. Therefore, as an essential investigation, the purpose of this study is to elucidate when, how and why terroir has been used in the sake industry. This study starts with the research question: When, how and why has terroir come to be used strategically in the sake industry?Design/methodology/approachThis study investigates the use of terroir in the Japanese sake industry, examining all 196 newspapers that referenced terroir from 1998 to 2022, sourced from the renowned newspaper database Nikkei Telecom 21. This study’s outcomes have been visualized through categorization work and text mining.FindingsIn this study, the use of terroir in the Japanese sake industry has gained significant momentum since 2015, with a remarkable surge observed in the 2020s. With the continuous growth in sake exports, industry players such as sake brewers are strategically structuring terroir to reinforce the authenticity of the brewing process, emphasizing the uniqueness of natural elements, such as water, sake rice and the natural environment. These findings highlight the critical role of terroir in the Japanese sake industry’s added value expansion.Originality/valueThis study provides objective insights regarding the recent industrial transformation for the practical sake industry, such as sake exporters and distributors. Additionally, this study enables the wine industry’s audience to understand the sake industry’s evolution in terms of wine culture.
随着近年来日本清酒产业的持续转型和出口的持续增长,作为葡萄酒文化核心概念之一的风土被战略性地运用到清酒产业中。因此,作为一项必要的调查,本研究的目的是阐明何时,如何以及为什么风土被用于清酒行业。本研究从研究问题开始:何时,如何以及为什么在清酒行业中战略性地使用风土?设计/方法/方法本研究调查了日本清酒行业对风土的使用,研究了1998年至2022年期间所有196份涉及风土的报纸,这些报纸来自著名的报纸数据库日经电信21。本研究的结果已通过分类工作和文本挖掘可视化。在这项研究中,自2015年以来,日本清酒行业对风土的利用取得了显著的势头,在本世纪20年代出现了显著的增长。随着清酒出口的持续增长,清酒酿造商等行业参与者正在战略性地构建风土,以加强酿造过程的真实性,强调水、清酒米和自然环境等自然元素的独特性。这些发现凸显了风土在日本清酒产业附加值扩张中的关键作用。原创性/价值本研究为清酒出口商和经销商等实际清酒行业提供了有关近期产业转型的客观见解。此外,本研究使葡萄酒行业的观众能够从葡萄酒文化的角度了解清酒行业的演变。
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引用次数: 0
Examining motivations and challenges of black wine entrepreneurs using the push–pull theory of entrepreneurship 利用企业家精神的推挽理论研究黑葡萄酒企业家的动机和挑战
IF 1.8 Q1 AGRONOMY Pub Date : 2023-04-27 DOI: 10.1108/ijwbr-07-2022-0026
Monique L. Bell, Liz Thach, Fiona Fang
PurposeThe two major entrepreneurial motivations of being “pushed” or “pulled” to start a business have been frequently explored in the entrepreneurship literature. In the global wine industry, thousands of small entrepreneurial wine businesses are flourishing, but few have been started by Black entrepreneurs. What is missing from the research is an exploration of the motivations of these entrepreneurs and what the industry can do to encourage the entrance of more minority entrepreneurs. The purpose of this study is to apply push–pull theory to better understand the motivations and challenges of what prompts Black entrepreneurs to start and succeed in the wine industry.Design/methodology/approachThis exploratory study uses a qualitative methodology of 42 in-depth interviews with US Black winemakers, retailers, and other wine business owners conducted over Zoom. The data were analyzed using Otter software and a thematic coding process for 2,120 pages of rich text.FindingsFindings included 12 motivation themes and 12 challenges for Black wine entrepreneurs, with more emphasis on “push” versus “pull” motivation factors. Many of these entrepreneurs were “pushed” to participate in the industry to create a more inclusive space for Black wine consumers and to create opportunities for other Black professionals and minorities in the industry. Managerial implications include solutions for more inclusive marketing and workplace culture.Originality/valueThis study contributes to push–pull theory by offering a unique perspective on the motivations of Black wine entrepreneurs, as well as being the first study, to the best of the authors’ knowledge, to focus on this issue.
目的创业文献中经常探讨被“推动”或“拉动”创业的两个主要创业动机。在全球葡萄酒行业,成千上万的小型创业葡萄酒企业蓬勃发展,但很少有黑人企业家创办。该研究缺少的是对这些企业家的动机的探索,以及该行业可以做些什么来鼓励更多少数族裔企业家进入。本研究的目的是应用推拉理论,更好地理解促使黑人企业家在葡萄酒行业创业并取得成功的动机和挑战。设计/方法论/方法这项探索性研究采用了一种定性方法,通过Zoom对美国黑人酿酒师、零售商和其他葡萄酒企业主进行了42次深入采访。使用Otter软件和2120页富文本的主题编码过程对数据进行了分析。调查结果包括12个激励主题和12个黑酒企业家的挑战,更强调“推动”和“拉动”的激励因素。这些企业家中的许多人被“推动”参与该行业,为黑葡萄酒消费者创造一个更具包容性的空间,并为该行业的其他黑人专业人士和少数族裔创造机会。管理含义包括更具包容性的营销和工作场所文化的解决方案。独创性/价值这项研究为推动-拉动理论做出了贡献,为黑葡萄酒企业家的动机提供了独特的视角,也是据作者所知,第一项关注这一问题的研究。
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引用次数: 1
The Puzzle of Wine Price in Restaurants 餐馆里的葡萄酒价格之谜
IF 1.8 Q1 AGRONOMY Pub Date : 2023-04-24 DOI: 10.26813/001c.74106
F. Livat, H. Remaud, Anne McHale
There is large variation amongst food service operators in pricing wine, and many questions remain about how wine is priced and what objectives are used to determine wine price in restaurants. In this essay-style article, we examine the practices that the industry have adopted when pricing wine in restaurants. Beyond the basic rule of thumb – applying proportionally smaller mark-up to higher-priced wines –, pricing can be driven by the market, customer or competition. The restaurant’s characteristics as well as institutional and environmental factors can influence the price of wine at restaurants.
餐饮服务经营者在葡萄酒定价方面存在很大差异,关于葡萄酒如何定价以及餐馆使用什么目标来确定葡萄酒价格仍然存在许多问题。在这篇散文风格的文章中,我们研究了行业在餐馆定价葡萄酒时采用的做法。除了基本的经验法则——对价格较高的葡萄酒按比例施加较小的加价——定价还可能受到市场、客户或竞争的驱动。餐厅的特色以及制度和环境因素都会影响餐厅葡萄酒的价格。
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引用次数: 0
Application of MCDM using PROMETHEE II for evaluation of wine tourism services 基于PROMETHEE II的MCDM在葡萄酒旅游服务评价中的应用
IF 1.8 Q1 AGRONOMY Pub Date : 2023-04-10 DOI: 10.1108/ijwbr-07-2022-0025
Kettrin Farias Bem Maracajá, Vanessa Batista Schramm, F. Schramm, V. Valduga, Jaiany Rocha Trindade
PurposeThe purpose of this paper is to apply PROMETHEE II, a multicriteria decision-making method, to evaluate wineries, aiming to support the tourist’s decision regarding an online recommendation system on which wineries to prioritise visiting.Design/methodology/approachThis study was divided into four phases: literature review, which aimed to identify a list of criteria related to the quality of services offered by wineries in specialised literature; validation of the categories and criteria with specialists in the field of wine tourism using a questionnaire with questions based on the stage of the research; multicriteria evaluation of wineries using PROMETHEE II method which was adjusted to the model through a pre-test with ten specialist professionals from different states (Rio Grande do Sul, Santa Catarina, Paraná, São Paulo and Pernambuco); and validation of the model with one decision-maker representing each winery in Rio Grande do Sul, Brazil, and a decision-making expert who is familiar with all the wineries.FindingsThese findings reveal various scenarios based on different criteria that wine tourists may consider, with emphasis on the terroir of the region, extensive tasting, picnics in the vineyards and improvement in the development of wine tourism with a night harvest. The core of wine tourism services is based on 12 dimensions: waiting for the service, ease of purchase, opening hours, price, winery landscape, variety of products, local cuisine, quality of tasted products, access to the winery, tourist facilities, sustainable products and hygiene installation.Originality/valueThis research contributes to the literature by demonstrating the applicability of multicriteria tools to solve wine tourism services based on the tourist perspective of the service. Still, this paper proposes that it be applied to other case studies.
本文的目的是应用PROMETHEE II,一种多标准决策方法来评估酒庄,旨在支持游客对在线推荐系统的决策,以优先访问哪些酒庄。设计/方法/方法本研究分为四个阶段:文献综述,旨在确定与专业文献中酒庄提供的服务质量相关的一系列标准;与葡萄酒旅游领域的专家一起使用基于研究阶段的问卷调查来验证类别和标准;使用PROMETHEE II方法对酒庄进行多标准评估,该方法通过来自不同州(里约热内卢Grande do Sul, Santa Catarina, paran, s o Paulo和Pernambuco)的10名专家的预测试调整为模型;并由一名决策者代表巴西南里约热内卢Grande的每个酒庄,以及一名熟悉所有酒庄的决策专家对模型进行验证。这些发现揭示了葡萄酒游客可能考虑的基于不同标准的各种场景,重点是该地区的风土,广泛的品酒,葡萄园野餐以及通过夜间收获改善葡萄酒旅游的发展。葡萄酒旅游服务的核心是基于12个维度:等待服务、购买便利性、开放时间、价格、酒庄景观、产品种类、当地美食、品尝产品质量、进入酒庄、旅游设施、可持续产品和卫生设施。原创性/价值本研究通过展示基于服务的游客视角的多标准工具在解决葡萄酒旅游服务中的适用性,为文献做出了贡献。然而,本文建议将其应用于其他案例研究。
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引用次数: 0
CHARACTERISTICS of an ENGAGING VIRTUAL WINE TASTING 引人入胜的虚拟品酒的特点
IF 1.8 Q1 AGRONOMY Pub Date : 2023-03-30 DOI: 10.26813/001c.72984
Terry Lease, Kelly N. Bodwin, Tricia H. Conover
Wine tasting rooms in the United States play an important role in the wine industry and the economic vitality of the regions that wine tourists visit, as wine tourists are generally well-educated and affluent, and they eagerly buy wine when they experience “pleasure” with their wine tourism experience (Bruwer & Rueger-Muck, 2019). When the COVID-19 pandemic forced many winery tasting rooms to shut down for months and operate under severe constraints once allowed to reopen, many wineries turned to virtual wine tastings to stay engaged with their consumers and attract new ones. This paper is an exploratory study of the features of a virtual wine tasting that participants in the U.S. find most engaging. We adopted the concept of winery tourism as a hedonic experience as the framework for our study of virtual wine tastings and apply the experiential view first applied to wine tourism by Bruwer and Alant (2009) to create an online survey employing the Best – Worst methodology first published by Finn and Louviere (1992). We collected 261 valid responses from people in the U.S. who participated in at least one virtual wine tasting. Using the classic agglomerative method, we performed unsupervised clustering on the raw survey response data to identify five main clusters of virtual wine tasting participant segments.
美国的葡萄酒品酒室在葡萄酒行业和葡萄酒游客所访问地区的经济活力中发挥着重要作用,因为葡萄酒游客通常受过良好教育,富裕,当他们在葡萄酒旅游体验中体验到“快乐”时,他们会迫切地购买葡萄酒(Bruwer & Rueger-Muck, 2019)。当COVID-19大流行迫使许多酒庄的品酒室关闭数月,并在允许重新开放后受到严格限制时,许多酒庄转向虚拟品酒会,以保持与消费者的互动并吸引新客户。本文是一项探索性研究的特点,一个虚拟品酒在美国的参与者发现最吸引人的。我们将酒庄旅游作为一种享乐体验的概念作为虚拟品酒研究的框架,并应用Bruwer和Alant(2009)首次应用于葡萄酒旅游的体验观点,采用Finn和Louviere(1992)首次发布的最佳-最差方法创建了一项在线调查。我们收集了261份来自美国人的有效回复,他们至少参加了一次虚拟品酒会。采用经典聚类方法,对原始调查响应数据进行无监督聚类,确定虚拟品酒参与者细分的五个主要聚类。
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引用次数: 0
The common agricultural policy subsidies and the technical efficiency of Hungarian wine farms 共同农业政策补贴与匈牙利葡萄酒农场的技术效率
IF 1.8 Q1 AGRONOMY Pub Date : 2023-03-27 DOI: 10.1108/ijwbr-09-2022-0032
I. Fertő, Š. Bojnec
PurposeThe literature argues on ambiguous impacts of different types of the common agricultural policy (CAP) subsidies on farm technical efficiency (TE). The purpose of this paper is to estimate and analyse the TE and the impact of the CAP subsidies on the TE of wine farms in Hungary using the farm accountancy data network data set in the period 2013–2019.Design/methodology/approachThe authors use stochastic frontiers analysis (SFA) models to estimate the TE scores for the Hungarian wine farms with four wine farm-level inputs in terms of agricultural land, labour, capital and intermediate consumption. The TE scores are explained by the CAP subsidies and economic wine farm size. The different SFA models were applied with robustness tests to investigate the drivers of the TE values of wineries.FindingsLike for Hungarian farms in general, the distribution of the wine farm structure is a dual with a greater number of smaller wine farms and a smaller number of bigger wine farms. The agricultural land, capital and intermediate consumption are significantly positively associated with the wine farm TE. With higher capital intensity wine farm TE increase. The results imply that the CAP subsidies decrease the TE of the Hungarian wine farms, whereas economic farm size increase.Originality/valueTo the best of the authors’ knowledge, this is one of the first specific efficiency studies on the wine sector in the Central and Eastern European region and the first one for Hungary to evaluate the TE at wine farm level and to assess the impact of CAP subsidies and economic farm size on wine farm (in)efficiency to apply production technologies and use farm resources. This study is among the first that applied the fixed-effects stochastic frontier model at the wine farm level to measure the drivers of the TE scores.
目的文献讨论了不同类型的共同农业政策补贴对农业技术效率的模糊影响。本文的目的是利用2013-2019年期间的农场会计数据网络数据集,估计和分析匈牙利葡萄酒农场的TE以及CAP补贴对TE的影响。设计/方法/方法作者使用随机前沿分析(SFA)模型,根据农业用地、劳动力、资本和中间消费。TE分数由CAP补贴和经济葡萄酒农场规模来解释。应用不同的SFA模型进行稳健性测试,以调查葡萄酒厂TE值的驱动因素。发现与匈牙利农场一样,葡萄酒农场结构的分布是双重的,有更多的小型葡萄酒农场和更少的大型葡萄酒农场。农业用地、资本和中间消费与葡萄酒农场TE显著正相关。随着资本密集度的提高,葡萄酒农场TE增加。结果表明,CAP补贴降低了匈牙利葡萄酒农场的TE,而经济农场的规模增加了。原创性/价值据作者所知,这是中欧和东欧地区第一次对葡萄酒行业进行具体效率研究,也是匈牙利第一次在葡萄酒农场层面评估TE,并评估CAP补贴和经济农场规模对葡萄酒农场应用生产技术和使用农场资源效率的影响。这项研究是第一批在葡萄酒农场层面应用固定效应随机前沿模型来衡量TE分数驱动因素的研究之一。
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引用次数: 1
The influence of social media celebrity endorsement on beer and wine purchase behaviour 社交媒体名人代言对啤酒和葡萄酒购买行为的影响
IF 1.8 Q1 AGRONOMY Pub Date : 2023-03-20 DOI: 10.1108/ijwbr-10-2022-0037
Cristina Calvo-Porral, S. Rivaroli, Javier Orosa-González
PurposeCelebrity endorsement is one of the most popular marketing communication tools that have been used by beverage companies to influence consumers’ behaviour, but little is known about the extent this communication strategy can be impactful and benefit alcoholic beverages like beer and wine. In this context, this study aims to examine whether and how social media celebrity endorsement influences consumers’ beer and wine purchase behaviour. Further, this study examines what are the characteristics of the celebrities that exert greater influence on beer and wine purchase behaviour.Design/methodology/approachBased on the source credibility and source attractiveness theoretical models, and on the match-up theory, a model of consumer purchase behaviour was proposed. Online celebrity endorsement was categorised as promoting either beer or wine, as well as beer and wine brands. Then, this model is empirically analysed through multiple group structural equation modelling on two samples of consumers who read online celebrity’s recommendations in Spain (beer = 280; wine = 277).FindingsFindings indicate that celebrity’s recommendations exert a different influence pattern on consumer purchase behaviour depending on the product category: congruence is the most relevant variable in beer endorsement, whereas expertise is the most influencing factor in wine celebrity recommendations. Therefore, beer celebrity endorsers should be congruent with the product, whereas wine endorsers should be perceived as experts.Originality/valueThis study extends the literature on celebrity endorsement providing an empirical examination of the social media celebrity characteristics that influence consumer purchase behaviour of beer and wine, reporting interesting differences between these two alcoholic beverages.
名人代言是饮料公司用来影响消费者行为的最受欢迎的营销传播工具之一,但人们对这种传播策略的影响力和对啤酒和葡萄酒等酒精饮料的益处知之甚少。在这种背景下,本研究旨在检验社交媒体名人代言是否以及如何影响消费者的啤酒和葡萄酒购买行为。此外,本研究还考察了名人的哪些特征对啤酒和葡萄酒购买行为有更大的影响。设计/方法论/方法基于来源可信度和来源吸引力理论模型,并基于匹配理论,提出了消费者购买行为模型。网络名人代言被归类为推广啤酒或葡萄酒,以及啤酒和葡萄酒品牌。然后该模型是通过对西班牙两个阅读网红推荐的消费者样本(啤酒=280;葡萄酒=277)的多组结构方程模型进行实证分析的。研究结果表明,名人推荐对消费者购买行为的影响模式因产品类别而异:一致性是最相关的啤酒代言的变量,而专业知识是葡萄酒名人推荐的最大影响因素。因此,啤酒名人代言人应该与产品一致,而葡萄酒代言人应该被视为专家。原创性/价值本研究扩展了名人代言的文献,对影响消费者啤酒和葡萄酒购买行为的社交媒体名人特征进行了实证检验,报告了这两种酒精饮料之间的有趣差异。
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引用次数: 1
Wine label design proposals: an eye-tracking study to analyze consumers’ visual attention and preferences 葡萄酒标签设计建议:一项眼球追踪研究,分析消费者的视觉注意力和偏好
IF 1.8 Q1 AGRONOMY Pub Date : 2023-02-28 DOI: 10.1108/ijwbr-06-2022-0021
Elena Barbierato, Danio Berti, S. Ranfagni, Luis Hernández-Álvarez, I. Bernetti
PurposeThe main purpose of this study is to analyze how consumers’ visual attention to wine label design correlates with their preferences. Accordingly, this study uses quantitative eye-tracking metrics to understand which design proposal has greater visual salience. A more specific objective was to assess which design proposal was preferred to be marketed.Design/methodology/approachThe experiment involved evaluating of three different labeling proposals of an Italian winery. Infrared eye-tracking was used to measure implicit eye movements on the three bottles displayed, simultaneously, on a computer screen. A generalized linear model was used to test how consumers' visual attention to wine label design correlated with their preferences.FindingsThe design proposals were evaluated significantly differently, with one set being preferred. In general, a strong positive relationship was found between pausing to peruse a specific design proposal and making an explicit choice of the same bottle.Research limitations/implicationsThe main limitation of the experiment concerns the sample interviewed. As the sample is homogeneous, the results may not be generalizable to other segments. Furthermore, the addition of electroencephalographic devices that monitor brain activity could provide crucial information for understanding consumer behavior during the purchase decision-making process.Practical implicationsEye-tracking methods could be useful for designers and wine producers during the evaluation process of design projects.Originality/valueThe use of eye-tracking for evaluating design proposals before placing a product on the market is relatively novel. This method provides objective, quantitative and predictive information on consumer preferences contributing guidelines to designers and marketers during the product conception phase.
本研究的主要目的是分析消费者对酒标设计的视觉关注与他们的偏好之间的关系。因此,本研究使用定量眼动追踪指标来了解哪个设计方案具有更大的视觉显著性。更具体的目标是评估哪种设计方案更适合销售。设计/方法/方法该实验涉及对一家意大利酿酒厂的三种不同的标签提案进行评估。红外线眼球追踪被用来测量同时显示在电脑屏幕上的三个瓶子上的隐性眼球运动。使用广义线性模型来测试消费者对葡萄酒标签设计的视觉关注与他们的偏好之间的关系。研究结果:对设计方案的评估有显著差异,其中一组被首选。总的来说,在停下来仔细阅读特定的设计方案和明确选择相同的瓶子之间,发现了强烈的正相关关系。研究局限/启示本实验的主要局限在于所采访的样本。由于样本是同质的,结果可能不能推广到其他部分。此外,监测大脑活动的脑电图设备可以为了解消费者在购买决策过程中的行为提供重要信息。在设计项目的评估过程中,眼动追踪方法可以为设计师和葡萄酒生产商提供有用的信息。在将产品投放市场之前,使用眼球追踪来评估设计方案是相对新颖的。这种方法提供了客观的,定量的和预测的信息,消费者的偏好,有助于指导设计师和营销人员在产品概念阶段。
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引用次数: 4
Financial resilience of Spanish wineries during the COVID-19 lockdown COVID-19封锁期间西班牙酒庄的财务弹性
IF 1.8 Q1 AGRONOMY Pub Date : 2023-02-08 DOI: 10.1108/ijwbr-03-2022-0012
Núria Arimany-Serrat, M. À. Farreras-Noguer, G. Coenders
PurposeThis study aims to focus on the impact of COVID-19 on the Spanish wine sector and the financial resilience of Spanish wineries in the period 2019–2020.Design/methodology/approachThe data set contains 355 limited companies of the Spanish wine sector which were active in the period 2019–2020. The explanatory variables used are size and age of the company, exports, subsidies and gender distribution in the workforce. The financial statements of the companies are treated as compositional data, using log-ratios for asset structure, leverage, margin, turnover and debt maturity. The first-difference estimator is used for the panel-data model relating the differences in the log-ratios between 2020 and 2019 to the explanatory variables.FindingsIn average terms, margin and turnover have significantly worsened between 2019 and 2020, while debt maturity has increased. A larger firm size, a greater age, a higher share of women in the workforce and subsidies have made wineries more resilient between 2019 and 2020.Originality/valueTo the best of the authors’ knowledge, this is the first financial statement analysis of the impact of COVID-19 in the winery sector.
本研究旨在关注2019-2020年期间COVID-19对西班牙葡萄酒行业的影响以及西班牙酒庄的财务弹性。设计/方法/方法该数据集包含355家西班牙葡萄酒行业有限公司,这些公司在2019-2020年期间很活跃。使用的解释变量是公司的规模和年龄、出口、补贴和劳动力中的性别分布。公司的财务报表被视为构成数据,对资产结构、杠杆、保证金、周转率和债务期限使用对数比率。第一差分估计量用于面板数据模型,该模型将2020年和2019年之间的对数比与解释变量的差异联系起来。2019年至2020年期间,平均期限、利润率和营业额显著恶化,而债务期限延长。更大的公司规模、更悠久的历史、更高的女性劳动力比例和补贴使酿酒厂在2019年至2020年期间更具弹性。原创性/价值据作者所知,这是首次对2019冠状病毒病对酒庄行业影响的财务报表分析。
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引用次数: 2
期刊
International Journal of Wine Business Research
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