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Firm Performance and Exports: Evidence from the Romanian Wine Industry

Published online by Cambridge University Press:  08 September 2020

Albert Lessoua ,
Mihai Mutascu  and
Camélia Turcu
Albert Lessoua
Affiliation:
ESCE International Business School Paris, INSSEC U. Research Centre. 10 Sextius Michel, 75015, Paris, France; e-mail: [email protected].
Mihai Mutascu
Affiliation:
ESCE International Business School Paris, INSSEC U. Research Centre. 10 Sextius Michel, 75015, Paris, France; e-mail: [email protected].
Camélia Turcu*
Affiliation:
University of Orléans, Faculté de Droit d'Économie et de Gestion CNRS, LEO, FRE 2014, Rue de Blois - F45067, Orléans, France
*
e-mail: [email protected] (corresponding author).
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Abstract

This paper examines the impact of exports and its main determinants on the financial performance of the Romanian wine industry. We draw on a dataset consisting of mixed firm-level (i.e., 207 companies) data, Google Trends data, and regional variables covering the period from 2009 to 2017. We show that Romanian wine exports, at the firm level, are positively affected by regional wine yields (especially in the case of red wine varieties), temperature, and firm agglomeration, and negatively impacted by firm size. We also find a close positive correlation between financial performance and exports. (JEL Classifications: F61, L66, C23)

Keywords

exportsfinancial performancespanel analysisRomanian wine industry
Type
Articles
Information
Journal of Wine Economics , Volume 15 , Special Issue 2: Wine, Macroeconomics, and Finance , May 2020 , pp. 207 - 228
Copyright
Copyright © American Association of Wine Economists, 2020

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Footnotes

We are grateful to Karl Storchmann, an anonymous referee, and guest-editor, Jean-Marie Cardebat, for insightful and helpful comments that have considerably improved this paper. We also thank participants at the INFER Workshop on Wine Macroeconomics and Finance (Lyon, 2018) for useful remarks and suggestions.

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