João Rebelo - Academia.edu (original) (raw)
Papers by João Rebelo
Grapes and Wines - Advances in Production, Processing, Analysis and Valorization, Feb 28, 2018
The wine market is an excellent example of monopolistic competition, demonstrating both vertical ... more The wine market is an excellent example of monopolistic competition, demonstrating both vertical and horizontal product differentiation. The propensity toward monopolistic competition and the asymmetric preferences of wine consumption can justify the coexistence of different sized wineries. The main goal of this chapter is to analyze the economic performance of wineries, using indicators widely employed in economic and business literature, and to assess the potential influence of size on firm's performance. To achieve this goal, different statistical tests are applied to firms´data collected from two representative Portuguese demarcated wine regions (Douro and Vinho Verde). The results confirm that the wine firm's performance is a multidimensional construct, exhibiting similarities and differences, according to the index used. The size of firms increases their export performance but exhibits a nonstatistical effect on the financial performance. The indices of productivity and productive efficiency show that there is no standard behavior. The results of this study can be useful both for managers and public decision-makers, given the importance of controlling economic performance in order to guarantee the industry's competitiveness in an increasingly globalized wine business.
Cabo, 2010
Today, financial system enterprises operate in an environment full of global opportunities and th... more Today, financial system enterprises operate in an environment full of global opportunities and threats; and in the sequence of corporate scandals and world financial crisis, the banking activity is constrained by ethical self-restraining as well as innovative regulations ...
Cabo, 2007
The Portuguese Agricultural Credit Cooperatives (ACC) play a significant role in the national ban... more The Portuguese Agricultural Credit Cooperatives (ACC) play a significant role in the national banking system. At the present, they face the challenge of matching the application of the traditional cooperative rules (which leads to a resulting set of vaguely defined property ...
Cabo, 2010
The banking system robustness is an actual concern and a priority for EU and national authorities... more The banking system robustness is an actual concern and a priority for EU and national authorities. Although Portuguese Agricultural Credit Co-operatives (CCAM) performance, as a group, compares favourably with that of other credit institutions, individual CCAM ...
Wine Economics and Policy, Dec 30, 2023
This paper uses firm-level data to investigate the resilience of the Portuguese wine sector's dom... more This paper uses firm-level data to investigate the resilience of the Portuguese wine sector's domestic market in the aftermath of the exogenous shock arising from Covid-19. To address this objective, this article applies a fractional response model. The results allow us to confirm that the impact of the pandemic crisis depends on firm structure and behaviour reflected by variables such as firm size, age, export intensity, market channel as well as on the geographic location of firms. This suggests the need for the development of innovative regional clusters and calls for managers and policymakers to consider the heterogeneity of wineries and dissimilar effects of contingency measures at the municipal level during an exogenous shock.
Agribusiness
The COVID‐19 crisis has severely impacted the wine industry, with producers in different countrie... more The COVID‐19 crisis has severely impacted the wine industry, with producers in different countries affected differently and, therefore, differing in their perceptions toward it. These differing perceptions are assumed to be due to different business models, mainly linked to the distribution system adopted and resulting in varying distances of producers to distributors and consumers. While upstream integration characterizes the Old World, the New World applies a downstream business model, being more closely linked to distributors and consumers and, therefore, more vulnerable to shocks, which should lead to higher perceived impacts of the COVID‐19 crisis. This study analyzes 542 surveys collected from wineries in nine countries, divided into New World, historical Old World, and emerging Old World. Econometric results show statistically significant differences in both the perceived impact of COVID‐19 and wineries' responses in terms of planned investments, with the New World being ...
Bio-based and applied economics, Mar 31, 2022
Economics and Business Letters, 2022
The computation of productive efficiency provides key insights for firm managers and policymakers... more The computation of productive efficiency provides key insights for firm managers and policymakers towards improvements in the competitiveness of businesses and industries, namely those that observe firm heterogeneity and high competition, as is the case of wine. Benefiting from Portuguese wineries panel data, this research measures firms’ productive efficiency, decomposing it into transient and persistent. Results allow us to conclude that wineries can boost overall performance through better input management and long-term policies, such as improvements in market regulation and public firm support.
New Medit, 2020
The wine market is very heterogeneous and complex, being the knowledge of the behaviour and attit... more The wine market is very heterogeneous and complex, being the knowledge of the behaviour and attitudes of consumers a key tool to design efficient marketing plans, namely in countries that are traditionally wine producers and consumers, such as Portugal. In this country, Port wine is an economic and cultural icon, but, in the last decade, total sales have been decreasing. Despite this trend the domestic consumption has been gaining relevance and therefore a focus to reverse the negative cycle of total sales. The main goal of this paper is to analyse the profile and behaviour of domestic Port wine consumers, identifying homogeneous market segments. For this purpose, an online survey was applied and random sample of 678 Portuguese Port wine consumers was collected. Using multivariate statistical techniques, three profiles of purchasers/consumers emerged: experienced, less experienced and inexperienced consumers. This segmentation shows that Port wine consumers can be grouped according ...
Journal of Business Economics and Management, 2020
Export activities have become crucial to firms’ competitiveness, with determinants of export perf... more Export activities have become crucial to firms’ competitiveness, with determinants of export performance being a challenging field of research, since there is no consensus regarding the explained and explanatory variables or on the econometric methods to be used. Using a panel data of Portuguese wine firms, this paper aims to contribute to this debate, combining both resource- and institutional-based views of the firm. This paper tries to overcome the methodological hurdle, addressing sample selection issues and considering the fractional response nature of export performance. Given the pros and cons of each econometric approach, the Heckman selection model, the fractional probit model and the two-part fractional response model are estimated, and the results compared. From a public policy perspective, the results show that policies that promote wine firm size, labor productivity and wine promotion in third countries have a positive impact on export performance at firm-level. Age doe...
Leverage is one of the most important financial factors to the survival and viability of agricult... more Leverage is one of the most important financial factors to the survival and viability of agricultural cooperatives (e.g., wine cooperatives) during a period of intense competition. Leverage is influenced both by the behavior of managers and cooperative members. An empirical study for the Douro Demarcated Region Wine Cooperatives (DDRWC) supports the hypothesis that managers have a positive influence in the determination of the equity/total assets ratio and that individualistic behavior of cooperative members has a negative influence in the value of this ratio. This paper suggests that there may be value in reconsidering cooperatives in the context of a so-called Mediterranean model.
Economies, 2021
This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. F... more This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. For this purpose, a spatial stochastic frontier model is specified and estimated, accounting for spatial dependence and persistent and transient (in)efficiency. This approach is applied to a panel dataset from 2014 to 2019 of Portuguese wineries. Apart from the traditional input and output quantities used in the estimation of a production function, the novelty of this study is the inclusion of information on the firms’ exact location, which allows incorporating the neighboring dependence in the productive efficiency analysis. Empirical findings show that despite the Portuguese wineries’ technological positive dependence on spatial closeness for both inputs and outputs, the geographic closeness is not strong enough to provide overall productive efficiency gains.
Wine Economics and Policy, 2021
This article presents an international comparison of the main determinants of wine prices in spec... more This article presents an international comparison of the main determinants of wine prices in specialist online wine shops. Hedonic price functions were estimated for 9624 wines spread among four datasets from France, Italy, Germany and Australia. To explain price variation data was collected on wine classification, closure type, wine origin, medals or awards, vintage, alcohol content, color, and grape variety. Results from quantile regression models show that the wine vintage is a common price driver in all markets and quantiles. A quite similar effect was found for alcohol content. In terms of color, the implicit prices for red and white wines are also structurally different between countries, particularly in origin, blend, closure, awards and age. Thus, the markets should be assumed as heterogeneous, and the extrapolation of the results from one market to another may lead to erroneous management decisions.
Over the last decade Portuguese Agricultural Credit Cooperatives (ACCs) have increasingly face su... more Over the last decade Portuguese Agricultural Credit Cooperatives (ACCs) have increasingly face survival challenges related to their difficulty in gathering equity. The main source of ACCs equity is the net benefit; thus, understanding how ACCs governance can work on correcting bad economic performance is of crucial importance to overcome this constraint. The main objective of this paper is to describe the governance control mechanisms in the ACCs. Five governance mechanisms are identified: board and chairman change (internal mechanisms), central ACC intervention by an agent or by management board replacement and merger. Empirical analysis proved that the internal governance mechanisms activity is not related to the ACC performance. Additionally: (a) ACCs with a central ACC agent and merged ACCs hold a weaker credit management and a heavy administrative costs structure and profitability problems; and (b) ACCs with a management board replacement by the central ACC hold a weaker credit...
Globalization is challenging the very core of organizations and firms’ strategies in the traditio... more Globalization is challenging the very core of organizations and firms’ strategies in the traditional European wine regions characterized by a terroir orientation, whose context shows that their wine small and medium enterprises (SME), are probably unwilling and unable to produce large and low-cost, standardised quantities of wine, with the sales supported by heavy marketing campaigns. The main aim of this paper is to present a business strategy that can be adopted for wine SME located in regions with high production costs and where tradition and terroir are relevant factors, to be introduced in the decision process. To achieve this goal, it is presented the case of five small wine producer-bottlers, located in the Portuguese conservative Douro Demarcated Region (DDR), that are developing an innovative approach through the adoption of an informal horizontal network nominated Douro Boys. The analysis conducted in this work allows us to conclude that we are in the presence of a very si...
As other southern European countries, Portugal is one of the oldest worldwide wine producer. In 2... more As other southern European countries, Portugal is one of the oldest worldwide wine producer. In 2015 Portugal is ranked in 11 in terms of production and 9 in exports (OIV, 2016). Port wine makes an important contribution to wine exports, representing, 24% of the quantity and 43% of the value also in 2015. Port wine constitutes a typical case of a globalized product, sold in the world market for over two hundred years and more than 84% of its production is exported. Conversely Portuguese still wines have a much lower share of exports over their total production. The Portuguese wine production is divided in different demarcated regions, being the most famous, the Douro Region, demarcated since 1756 and located in the northern interior of Portugal. This region produces, simultaneously and on the same proportion, Port wine and still wines (Appellation d’Origine Contrôlée Douro wine), fitting the typical terroir model (Rebelo and Caldas, 2013). Before the entrance of Portugal in the Euro...
In the past two decades the world has seen acceleration in the process of globalisation, affectin... more In the past two decades the world has seen acceleration in the process of globalisation, affecting virtually all industries and consumers. The wine sector is no exception, witnessing increased exports and imports, decreasing consumption per capita in the producing countries, and a wave of direct foreign investment and mergers and acquisitions in the industry. Among European wine producers the Port wine can be seen as a representative case of globalisation and as a benchmark, because almost 90% of its production is exported. With this in mind, the main objective of this paper is to analyse the structure and behaviour of the Port wine chain in terms of industrial organisation and trade. To achieve this objective a survey about the role of organisations in national growth and descriptions of the European wine industry and of the Port wine chain was conducted. Moreover, we identify and characterise the dynamics of production, price and trade of the Port wine after World War II. Despite ...
2 The influence of globalisation on international trade is notable and particularly for wine trad... more 2 The influence of globalisation on international trade is notable and particularly for wine trade. The emergence of a monopolistic competition market structure in this sector is due to new patterns of consumption worldwide spreading the taste for wine and showing preference for differentiation as well as the decrease in transport and communication costs. Portugal as a traditional producer of wine holds a relevant position in world wine trade. The aim of this research is to assess the main determinants of exports of total Portuguese wine as well as from three distinct wines of the north of Portugal – Vinho Verde, Appellation d’Origine Contrôlée (AOC) Douro and Port wines. Following the international trade literature, an extended gravity model is estimated for the main world importing countries of Portuguese wine over the period from 2006 to 2015. The results suggest that wineries, private and public agencies, should focus their commercial and political efforts on countries with high...
British Food Journal, 2021
PurposeThis study aims to provide a better understanding of the behaviour of wine consumers in a ... more PurposeThis study aims to provide a better understanding of the behaviour of wine consumers in a completely new and unexpected setting, that is, a forced lockdown due to the COVID-19 pandemic. It seeks to explain consumer decisions and the probability of changes occurring in wine expenditure compared to a normal situation.Design/methodology/approachThe empirical analysis, conducted on a representative sample of Iberian consumers and based on the random utility theory, consists in the application of a multinomial logit model, setting the “usual” pattern of expenditure as a baseline category.FindingsThe results show that the coronavirus pandemic could have changed alcohol drinking habits. Consumers generally spent less on wine during the lockdown, maybe due to the uncertainty regarding their future income and professional situation. Those people more likely to spend more on wine were those who increased their wine consumption during the lockdown, those who drank for romantic purposes,...
REGION, 2020
This study analyses recent trends (2006-2018) in Port and Douro wine exports and estimates their ... more This study analyses recent trends (2006-2018) in Port and Douro wine exports and estimates their macroeconomic determinants. The results of the gravity equation reveal that the purchasing power in importing countries is the most important export determinant of Port and Douro wines. Therefore, in order to increase exports, the strategic decision-makers concerned with the industry should pay special attention to the markets in wealthier countries or with a high potential for economic growth, taking into account issues such as market access, adaptation to the market to wine consumption, and regulation.
Grapes and Wines - Advances in Production, Processing, Analysis and Valorization, Feb 28, 2018
The wine market is an excellent example of monopolistic competition, demonstrating both vertical ... more The wine market is an excellent example of monopolistic competition, demonstrating both vertical and horizontal product differentiation. The propensity toward monopolistic competition and the asymmetric preferences of wine consumption can justify the coexistence of different sized wineries. The main goal of this chapter is to analyze the economic performance of wineries, using indicators widely employed in economic and business literature, and to assess the potential influence of size on firm's performance. To achieve this goal, different statistical tests are applied to firms´data collected from two representative Portuguese demarcated wine regions (Douro and Vinho Verde). The results confirm that the wine firm's performance is a multidimensional construct, exhibiting similarities and differences, according to the index used. The size of firms increases their export performance but exhibits a nonstatistical effect on the financial performance. The indices of productivity and productive efficiency show that there is no standard behavior. The results of this study can be useful both for managers and public decision-makers, given the importance of controlling economic performance in order to guarantee the industry's competitiveness in an increasingly globalized wine business.
Cabo, 2010
Today, financial system enterprises operate in an environment full of global opportunities and th... more Today, financial system enterprises operate in an environment full of global opportunities and threats; and in the sequence of corporate scandals and world financial crisis, the banking activity is constrained by ethical self-restraining as well as innovative regulations ...
Cabo, 2007
The Portuguese Agricultural Credit Cooperatives (ACC) play a significant role in the national ban... more The Portuguese Agricultural Credit Cooperatives (ACC) play a significant role in the national banking system. At the present, they face the challenge of matching the application of the traditional cooperative rules (which leads to a resulting set of vaguely defined property ...
Cabo, 2010
The banking system robustness is an actual concern and a priority for EU and national authorities... more The banking system robustness is an actual concern and a priority for EU and national authorities. Although Portuguese Agricultural Credit Co-operatives (CCAM) performance, as a group, compares favourably with that of other credit institutions, individual CCAM ...
Wine Economics and Policy, Dec 30, 2023
This paper uses firm-level data to investigate the resilience of the Portuguese wine sector's dom... more This paper uses firm-level data to investigate the resilience of the Portuguese wine sector's domestic market in the aftermath of the exogenous shock arising from Covid-19. To address this objective, this article applies a fractional response model. The results allow us to confirm that the impact of the pandemic crisis depends on firm structure and behaviour reflected by variables such as firm size, age, export intensity, market channel as well as on the geographic location of firms. This suggests the need for the development of innovative regional clusters and calls for managers and policymakers to consider the heterogeneity of wineries and dissimilar effects of contingency measures at the municipal level during an exogenous shock.
Agribusiness
The COVID‐19 crisis has severely impacted the wine industry, with producers in different countrie... more The COVID‐19 crisis has severely impacted the wine industry, with producers in different countries affected differently and, therefore, differing in their perceptions toward it. These differing perceptions are assumed to be due to different business models, mainly linked to the distribution system adopted and resulting in varying distances of producers to distributors and consumers. While upstream integration characterizes the Old World, the New World applies a downstream business model, being more closely linked to distributors and consumers and, therefore, more vulnerable to shocks, which should lead to higher perceived impacts of the COVID‐19 crisis. This study analyzes 542 surveys collected from wineries in nine countries, divided into New World, historical Old World, and emerging Old World. Econometric results show statistically significant differences in both the perceived impact of COVID‐19 and wineries' responses in terms of planned investments, with the New World being ...
Bio-based and applied economics, Mar 31, 2022
Economics and Business Letters, 2022
The computation of productive efficiency provides key insights for firm managers and policymakers... more The computation of productive efficiency provides key insights for firm managers and policymakers towards improvements in the competitiveness of businesses and industries, namely those that observe firm heterogeneity and high competition, as is the case of wine. Benefiting from Portuguese wineries panel data, this research measures firms’ productive efficiency, decomposing it into transient and persistent. Results allow us to conclude that wineries can boost overall performance through better input management and long-term policies, such as improvements in market regulation and public firm support.
New Medit, 2020
The wine market is very heterogeneous and complex, being the knowledge of the behaviour and attit... more The wine market is very heterogeneous and complex, being the knowledge of the behaviour and attitudes of consumers a key tool to design efficient marketing plans, namely in countries that are traditionally wine producers and consumers, such as Portugal. In this country, Port wine is an economic and cultural icon, but, in the last decade, total sales have been decreasing. Despite this trend the domestic consumption has been gaining relevance and therefore a focus to reverse the negative cycle of total sales. The main goal of this paper is to analyse the profile and behaviour of domestic Port wine consumers, identifying homogeneous market segments. For this purpose, an online survey was applied and random sample of 678 Portuguese Port wine consumers was collected. Using multivariate statistical techniques, three profiles of purchasers/consumers emerged: experienced, less experienced and inexperienced consumers. This segmentation shows that Port wine consumers can be grouped according ...
Journal of Business Economics and Management, 2020
Export activities have become crucial to firms’ competitiveness, with determinants of export perf... more Export activities have become crucial to firms’ competitiveness, with determinants of export performance being a challenging field of research, since there is no consensus regarding the explained and explanatory variables or on the econometric methods to be used. Using a panel data of Portuguese wine firms, this paper aims to contribute to this debate, combining both resource- and institutional-based views of the firm. This paper tries to overcome the methodological hurdle, addressing sample selection issues and considering the fractional response nature of export performance. Given the pros and cons of each econometric approach, the Heckman selection model, the fractional probit model and the two-part fractional response model are estimated, and the results compared. From a public policy perspective, the results show that policies that promote wine firm size, labor productivity and wine promotion in third countries have a positive impact on export performance at firm-level. Age doe...
Leverage is one of the most important financial factors to the survival and viability of agricult... more Leverage is one of the most important financial factors to the survival and viability of agricultural cooperatives (e.g., wine cooperatives) during a period of intense competition. Leverage is influenced both by the behavior of managers and cooperative members. An empirical study for the Douro Demarcated Region Wine Cooperatives (DDRWC) supports the hypothesis that managers have a positive influence in the determination of the equity/total assets ratio and that individualistic behavior of cooperative members has a negative influence in the value of this ratio. This paper suggests that there may be value in reconsidering cooperatives in the context of a so-called Mediterranean model.
Economies, 2021
This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. F... more This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. For this purpose, a spatial stochastic frontier model is specified and estimated, accounting for spatial dependence and persistent and transient (in)efficiency. This approach is applied to a panel dataset from 2014 to 2019 of Portuguese wineries. Apart from the traditional input and output quantities used in the estimation of a production function, the novelty of this study is the inclusion of information on the firms’ exact location, which allows incorporating the neighboring dependence in the productive efficiency analysis. Empirical findings show that despite the Portuguese wineries’ technological positive dependence on spatial closeness for both inputs and outputs, the geographic closeness is not strong enough to provide overall productive efficiency gains.
Wine Economics and Policy, 2021
This article presents an international comparison of the main determinants of wine prices in spec... more This article presents an international comparison of the main determinants of wine prices in specialist online wine shops. Hedonic price functions were estimated for 9624 wines spread among four datasets from France, Italy, Germany and Australia. To explain price variation data was collected on wine classification, closure type, wine origin, medals or awards, vintage, alcohol content, color, and grape variety. Results from quantile regression models show that the wine vintage is a common price driver in all markets and quantiles. A quite similar effect was found for alcohol content. In terms of color, the implicit prices for red and white wines are also structurally different between countries, particularly in origin, blend, closure, awards and age. Thus, the markets should be assumed as heterogeneous, and the extrapolation of the results from one market to another may lead to erroneous management decisions.
Over the last decade Portuguese Agricultural Credit Cooperatives (ACCs) have increasingly face su... more Over the last decade Portuguese Agricultural Credit Cooperatives (ACCs) have increasingly face survival challenges related to their difficulty in gathering equity. The main source of ACCs equity is the net benefit; thus, understanding how ACCs governance can work on correcting bad economic performance is of crucial importance to overcome this constraint. The main objective of this paper is to describe the governance control mechanisms in the ACCs. Five governance mechanisms are identified: board and chairman change (internal mechanisms), central ACC intervention by an agent or by management board replacement and merger. Empirical analysis proved that the internal governance mechanisms activity is not related to the ACC performance. Additionally: (a) ACCs with a central ACC agent and merged ACCs hold a weaker credit management and a heavy administrative costs structure and profitability problems; and (b) ACCs with a management board replacement by the central ACC hold a weaker credit...
Globalization is challenging the very core of organizations and firms’ strategies in the traditio... more Globalization is challenging the very core of organizations and firms’ strategies in the traditional European wine regions characterized by a terroir orientation, whose context shows that their wine small and medium enterprises (SME), are probably unwilling and unable to produce large and low-cost, standardised quantities of wine, with the sales supported by heavy marketing campaigns. The main aim of this paper is to present a business strategy that can be adopted for wine SME located in regions with high production costs and where tradition and terroir are relevant factors, to be introduced in the decision process. To achieve this goal, it is presented the case of five small wine producer-bottlers, located in the Portuguese conservative Douro Demarcated Region (DDR), that are developing an innovative approach through the adoption of an informal horizontal network nominated Douro Boys. The analysis conducted in this work allows us to conclude that we are in the presence of a very si...
As other southern European countries, Portugal is one of the oldest worldwide wine producer. In 2... more As other southern European countries, Portugal is one of the oldest worldwide wine producer. In 2015 Portugal is ranked in 11 in terms of production and 9 in exports (OIV, 2016). Port wine makes an important contribution to wine exports, representing, 24% of the quantity and 43% of the value also in 2015. Port wine constitutes a typical case of a globalized product, sold in the world market for over two hundred years and more than 84% of its production is exported. Conversely Portuguese still wines have a much lower share of exports over their total production. The Portuguese wine production is divided in different demarcated regions, being the most famous, the Douro Region, demarcated since 1756 and located in the northern interior of Portugal. This region produces, simultaneously and on the same proportion, Port wine and still wines (Appellation d’Origine Contrôlée Douro wine), fitting the typical terroir model (Rebelo and Caldas, 2013). Before the entrance of Portugal in the Euro...
In the past two decades the world has seen acceleration in the process of globalisation, affectin... more In the past two decades the world has seen acceleration in the process of globalisation, affecting virtually all industries and consumers. The wine sector is no exception, witnessing increased exports and imports, decreasing consumption per capita in the producing countries, and a wave of direct foreign investment and mergers and acquisitions in the industry. Among European wine producers the Port wine can be seen as a representative case of globalisation and as a benchmark, because almost 90% of its production is exported. With this in mind, the main objective of this paper is to analyse the structure and behaviour of the Port wine chain in terms of industrial organisation and trade. To achieve this objective a survey about the role of organisations in national growth and descriptions of the European wine industry and of the Port wine chain was conducted. Moreover, we identify and characterise the dynamics of production, price and trade of the Port wine after World War II. Despite ...
2 The influence of globalisation on international trade is notable and particularly for wine trad... more 2 The influence of globalisation on international trade is notable and particularly for wine trade. The emergence of a monopolistic competition market structure in this sector is due to new patterns of consumption worldwide spreading the taste for wine and showing preference for differentiation as well as the decrease in transport and communication costs. Portugal as a traditional producer of wine holds a relevant position in world wine trade. The aim of this research is to assess the main determinants of exports of total Portuguese wine as well as from three distinct wines of the north of Portugal – Vinho Verde, Appellation d’Origine Contrôlée (AOC) Douro and Port wines. Following the international trade literature, an extended gravity model is estimated for the main world importing countries of Portuguese wine over the period from 2006 to 2015. The results suggest that wineries, private and public agencies, should focus their commercial and political efforts on countries with high...
British Food Journal, 2021
PurposeThis study aims to provide a better understanding of the behaviour of wine consumers in a ... more PurposeThis study aims to provide a better understanding of the behaviour of wine consumers in a completely new and unexpected setting, that is, a forced lockdown due to the COVID-19 pandemic. It seeks to explain consumer decisions and the probability of changes occurring in wine expenditure compared to a normal situation.Design/methodology/approachThe empirical analysis, conducted on a representative sample of Iberian consumers and based on the random utility theory, consists in the application of a multinomial logit model, setting the “usual” pattern of expenditure as a baseline category.FindingsThe results show that the coronavirus pandemic could have changed alcohol drinking habits. Consumers generally spent less on wine during the lockdown, maybe due to the uncertainty regarding their future income and professional situation. Those people more likely to spend more on wine were those who increased their wine consumption during the lockdown, those who drank for romantic purposes,...
REGION, 2020
This study analyses recent trends (2006-2018) in Port and Douro wine exports and estimates their ... more This study analyses recent trends (2006-2018) in Port and Douro wine exports and estimates their macroeconomic determinants. The results of the gravity equation reveal that the purchasing power in importing countries is the most important export determinant of Port and Douro wines. Therefore, in order to increase exports, the strategic decision-makers concerned with the industry should pay special attention to the markets in wealthier countries or with a high potential for economic growth, taking into account issues such as market access, adaptation to the market to wine consumption, and regulation.