Exploring nonlinear effects of family power on the performance of Italian wine businesses

Gallucci, Carmen; D’Amato, Antonio

doi:10.1108/ijwbr-2012-0017

Cited by 27 publications

(19 citation statements)

References 62 publications

(77 reference statements)

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“…It is thanks to them that the social capital thrives, since crafts and SMEs are entrusted with the long-term development of the local economy and are embedded into local societies. This is in line with the fact that the majority of Italian wineries are familyowned and family-operated businesses [20].…”

Section: Innovationsupporting

confidence: 74%

Micro-Wineries as drivers for local economic development and innovation in lagging areas

Cantafio

Parisi

2021

WEP

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For a long time mainstream economics has neglected the non-economic side related to economic growth. Yet, today there is increasing awareness of the role that social capital can play in spurring Local Economic Development especially in underdeveloped, remote, or lagging contexts. Microwineries represent a good example of SMEs, being small realities serving the local markets and spaces that strengthen local communities. The European Mediterranean regions have commonly been connected with these sectors. This study aims at pushing the body of knowledge in the development of microwineries in the lagging-behind contexts of Southern Europe, particularly in Southern Italy. To support the discussion, the present study will adopt a deductive approach, by analysing the San Diego wine cluster taken as a case study, since its wine market recently boomed. Findings will highlight the microwineries symbiosis with the territory itself. Useful lessons will be drawn for encouraging policymakers in undertaking actions towards strengthening the potential of microwineries and building networks among them.

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Section: Innovationsupporting

confidence: 74%

Micro-Wineries as drivers for local economic development and innovation in lagging areas

Cantafio

Parisi

2021

WEP

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“…This study also contributes to enriching the literature about the family businesses in the wine sector, understanding if there are significant differences between FFs and NFFs in terms of performance. Moreover, it improves the limited literature on performance in wine family firms (Gallucci and Nave, 2011;Richard and Ceferi, 2012;Gallucci and D'Amato, 2013), as it verifies the impact of the family variable in the wine sector in an updated period, permitting the understanding of the impact of the economic crisis on company performance.…”

Section: Conclusion Implications and Limitationssupporting

confidence: 56%

“…Furthermore, the impact of the family variable was observed in the wine sector. A study conducted by Gallucci and D'Amato (2013) founded a relationship between family power and revenue and an inverted relationship between family power and profitability. Other research (Richard and Ceferi, 2012) focused on family wine businesses, showing how such leadership can transform a family, its business, and an entire area.…”

Section: Family Versus Non-family Firms: a Comparison Performancementioning

confidence: 99%

“…Moreover, family businesses are common in the wine sector (Gallucci and D'Amato, 2013;Georgiou and Vrontis, 2013) and the wine sector represents an interesting opportunity to test for differences between FFs and NFFs (Marks, 2011;Rossi, 2008;Ritchie, 2009;Sellers-Rubio, 2010, Capasso et al, 2015 considering, also, the positive impact on regional competitiveness and its drivers (Contò et al, 2014;Jaffe and Nebenzahl, 2008;Orth et al, 2012;Sidali et al, 2011;Viassone, 2009;Vrontis and Viassone, 2013;Vrontis et al, 2011a;Zanni, 2004;Bresciani and Ferraris, 2014). In addition, the relationship between the family and the wine product is strong, as it is one of the factors that impact on the governance mechanisms of the family wine business.…”

Section: Introductionmentioning

confidence: 99%

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The family variable in the wine sector: an Italian perspective

Broccardo

Giacosa

Ferraris

2015

IJMP

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The main goal of this study is to analyse the impact of the family variable on performance in the Italian wine sector. We referred to several studies in which the family could be considered a missing variable in management research. The analysis was conducted in both family firms (FFs) and non-family firms (NFFs) to determine the similarities, differences and impact on performance. The research population was composed of all the 369 medium and large-sized Italian companies operating in the Italian wine sector existing in October 2014. Data were extracted from the Amadeus database. The analysis considered three years (2011-2012-2013). From this paper it emerged that FFs outperform NFFs in terms of economic performance in Italian wine firms (with the exception of the Earnings before interest and taxes-EBITmargin). However, in terms of financial performance, NFFs outperform FFs (with the exception of the solvency ratio). So, this study highlights that the family variable is partially relevant to achieving good performance and has different significance to the firms.

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“…Common in the wine industry, family-run businesses (Gallucci and D'Amato, 2013;Georgiou and Vrontis, 2013) offer an attractive opportunity to test for differences between family firms (FFs) and non-family firms (NFFs) (Marks, 2011;Ritchie, 2009;Rossi, 2008;Sellers-Rubio, 2010), also considering the positive impact on regional…”

Section: Introductionmentioning

confidence: 99%

The family variable in the French and Italian wine sector

Bresciani

Giacosa

Broccardo

et al. 2016

EuroMed Journal of Business

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Purpose-The purpose of this paper is to highlight the differences in terms of economic and financial performance, between family firms (FFs) and non-family firms (NFFs) in the wine sector in Italy and France, where this sector is one of the most representative national economic activities. Design/methodology/approach-This study is based on a sample of Italian and France companies operating in the wine sector. The sample, including medium and large firms, includes 288 FFs and 302 NFFs, for a total of 590 firms. Amadeus database represents the data source. According to Astrachan and Kolenko (1994), a firm is classified as a FF if family had to own over 50 per cent of the business in a private company or more than 10 per cent of a public company. Findings-This study confirms that the family variable is relevant to achieve good economic and financial performance, and endow firms with different features. In terms of economic performance, FFs both in Italy and France outperform in. terms of return on equity and return on assets, though only Italian NFFs outperform in earnings before interest and taxes. In terms of financial performance, both in Italy and France NFFs outperform FFs in current ratio and liquidity ratio, while FFs outperform in solvency ratio. Research limitations/implications-Limitations of the study concern the method adopted, as it could be integrated with some econometrical models. The implications of the paper are relevant for families and regulatory bodies because it helps them to better understand the effects of governance on economic and financial performance. Moreover, the findings of the study can influence the decision-making process of investors in order to identify the long-term outperformers listed on a stock exchange. Originality/value-This study contributes to the literature on family businesses phenomenon on wine sector, which represents one of the most representative of the economy of several countries and in which family businesses are widespread.

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Exploring nonlinear effects of family power on the performance of Italian wine businesses

Cited by 27 publications

References 62 publications

Micro-Wineries as drivers for local economic development and innovation in lagging areas

Micro-Wineries as drivers for local economic development and innovation in lagging areas

The family variable in the wine sector: an Italian perspective

The family variable in the French and Italian wine sector

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