Purpose – The aim of the study is to analyse the value creation processes in multifunctional wineries. Specifically, the paper poses the following research questions: can the creation of public goods (i.e. multifunctionality) open up new paths of value creation for wineries? And if so, can multifunctionality be only compensated through policy instruments? Or, is there a form of market compensation? Design/methodology/approach – An empirical analysis was carried out on selected wineries that sell directly.Thestudyimplementedthe“valueportfolio”modelthatidentifiesspecificvariables,bothinternaland external to the farm, which contribute to the value creation. The methodology adopted is a structuralequation modeling (SEM) approach that offers a theoretical basis for developing an understanding of the relationships between group of variables. Findings – The empirical analysis confirms the assumptions developed. Indeed, the localized public goods generated by multifunctional farms can benefit from compensation on the market through the direct sale of products and services. Originality/value – Thestudy’s findings arequite innovativeinthe fieldof agriculturaleconomics and open the way for interesting policy implications.
Public goods production and value creation in wineries: a structural equation modelling
MAROTTA, GIUSEPPE;NAZZARO, CONCETTA
2020-01-01
Abstract
Purpose – The aim of the study is to analyse the value creation processes in multifunctional wineries. Specifically, the paper poses the following research questions: can the creation of public goods (i.e. multifunctionality) open up new paths of value creation for wineries? And if so, can multifunctionality be only compensated through policy instruments? Or, is there a form of market compensation? Design/methodology/approach – An empirical analysis was carried out on selected wineries that sell directly.Thestudyimplementedthe“valueportfolio”modelthatidentifiesspecificvariables,bothinternaland external to the farm, which contribute to the value creation. The methodology adopted is a structuralequation modeling (SEM) approach that offers a theoretical basis for developing an understanding of the relationships between group of variables. Findings – The empirical analysis confirms the assumptions developed. Indeed, the localized public goods generated by multifunctional farms can benefit from compensation on the market through the direct sale of products and services. Originality/value – Thestudy’s findings arequite innovativeinthe fieldof agriculturaleconomics and open the way for interesting policy implications.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
