The Italian Wine Industry Between Gender Diversity, Family Ties, and Cultural Attributes. An Empirical Investigation
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2020-07-28
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en
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Inspired by the millennial socio-cultural tradition and relevance of the consumption, manufacturing, and trade of wine, and given the crucial role played by the wine industry in participating to the Italian economy; this study investigates the association between the financial performance and three firm's specific characteristics: female participation, family ties, and cultural traits of 503 Italian private firms occupied in the transformation of grapes into wine. This analysis, moreover, increases the antecedent literature explicitly by also observing the moderating effects. The empirical inspection includes 2,168 panel data observations computed between 2014 and 2018 tested by using both the Random Effects and the Robust Pooled OLS regressors. Following the Stakeholder Theory, this research hypothesises and partially supports the idea that a more considerable presence of women enhances financial performance. No exhaustive results are obtained with regards to the association between family liaisons and financial performance, also mirroring the different outcomes of the pre-existing investigations. Furthermore, the assumption that companies located in the North have higher profits compared to the ones in the South, due to cultural discrepancies, finds empirical support. Finally, the Pooled OLS model provides empirical evidence that family-owned firms have less female participation reflecting a more patriarchal society.
Keywords: Italy, wine industry, gender diversity, family ties, culture
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Faculteit der Managementwetenschappen