Search results
1 – 10 of 274Mariluz Maté-Sánchez-Val and Paolo Occhino
The purpose of this paper is to provide evidence about the role of the geography on agri-food firms’ valuations. The goal is to test clusters and agglomeration effects on the SMEs…
Abstract
Purpose
The purpose of this paper is to provide evidence about the role of the geography on agri-food firms’ valuations. The goal is to test clusters and agglomeration effects on the SMEs valuations.
Design/methodology/approach
The authors propose an empirical test applying a spatial regression analysis on a sample constitute by 306 agri-food SMEs located in two municipalities with different economic characteristics: Murcia and Madrid. In addition, the authors applied the discounted cash flow model in order to estimate the SMEs’ economic value.
Findings
The findings show the importance of the geography variables on the SMEs’ performances highlights interesting differences between territories. In particular, the results confirm that the geographical proximity between agri-food firms and between them and external agents is significant on firms’ valuations. The agglomeration effects are verified in both municipality but the density variable present a negative non-linear effect confirming previous studies which indicates that the existence of a large number of firms 05 rise competition, decreasing the economic opportunities of these companies.
Originality/value
This study gives interesting insights to policymakers, researchers and practitioners concerning the importance of the relationships among agents, also favoured by a developed infrastructures system in a fully connected environment.
Details
Keywords
MCarmen Martínez-Victoria and Mariluz Maté-Sanchez-Val
The particular characteristics of agri-food cooperatives reduce their ability to access external financial resources. The purpose of this paper is to explore the factors…
Abstract
Purpose
The particular characteristics of agri-food cooperatives reduce their ability to access external financial resources. The purpose of this paper is to explore the factors influencing the agri-food cooperatives' trade credit operations by measuring their accounts receivable and comparing the results with agri-food investor-owned firms (IOFs).
Design/methodology/approach
The authors apply a partial adjustment model (PAM) estimated using a dynamic panel model with a two-step general method of moments (GMM) estimator to a sample of 11,930 Spanish agri-food cooperatives and IOFs for the period 2011–2018.
Findings
The study concludes that cooperatives and IOFs have an accounts receivable target, which they attempt to achieve rapidly. Cooperatives tend to behave as IOFs do, but they present lower adjustment coefficients. This difference seems to be explained by the unique characteristics of cooperatives which set different economic and social goals, not just profit maximization as IOFs. The findings show differences between the financial and commercial purposes of the cooperatives and IOFs as a result of their internal management policies. Larger cooperatives with access to external financial sources, positive cash flows and operational necessities will grant trade credit.
Originality/value
This study gives interesting implications for cooperative managers and policymakers to help them to understand the strategies behind trade credit policies. Previous empirical studies on the agri-food sector are scarce and focus on IOFs without considering the role of trade credit in European cooperatives.
Details
Keywords
Maral Mahdad, Mustafa Hasanov, Gohar Isakhanyan and Wilfred Dolfsma
All firms' business models are based on their interdependencies with other parties in their ecosystems. The Internet of Things (IoT) is beginning to fundamentally disrupt the…
Abstract
Purpose
All firms' business models are based on their interdependencies with other parties in their ecosystems. The Internet of Things (IoT) is beginning to fundamentally disrupt the agri-food industry, forcing the ecosystem to change. When an ecosystem is transforming, the interdependencies among its actors can create friction. Technology providers and core actors should consider these interdependencies as they update their strategies for value creation and capture. The purpose of the present research is to consider what it might take for agri-food firms to capitalize on these interdependencies by moving from traditional business models to business models based on collaboration and open innovation.
Design/methodology/approach
The present paper draws on data from four online focus groups that we created to discuss how to co-create the business models agri-food firms need in a constantly changing environment. The paper presents an application of phenomenon-driven research (PDR), an engaged methodology. The study method enables novel pathways to develop and implement innovative solutions. This study draws on the interaction of theory and practice and involves multiple stakeholders with varying roles in the agri-food ecosystem.
Findings
The authors found that any open innovation setup in agri-food needs to constantly reconfigure itself to balance the needs of farmers and the needs of the market. This interplay can only support the IoT-enabled ecosystem if continuous interaction and negotiation occur among various stakeholders of the food system. When the farmers' needs and the market's needs are aligned, the space for developing a collaborative and open business model is prepared.
Originality/value
The insights gained from this study inspire action and commitment to common goals when developing collaboration-based business models (CBMs). The paper offers insights for players in the agri-food industry who are considering CBMs in the course of digital transformation.
Details
Keywords
Concetta Nazzaro, Marco Lerro, Marcello Stanco and Giuseppe Marotta
The purpose of this paper is to investigate consumer’s acceptance toward product innovation in the agri-food sector, uncovering consumers’ characteristics able to encourage food…
Abstract
Purpose
The purpose of this paper is to investigate consumer’s acceptance toward product innovation in the agri-food sector, uncovering consumers’ characteristics able to encourage food innovation acceptance.
Design/methodology/approach
The analysis was carried out by administering a web-based structured questionnaire to a convenient sample of 443 Italian consumers. The study relies on consumers’ willingness to pay (WTP) to assess consumers’ acceptance toward the innovative product, while the Food-Related Lifestyle scale was applied to perform a cluster analysis aiming at detecting the attitude of consumers toward innovations in a traditional food.
Findings
The study findings showed a clear openness of consumers toward product innovation. Indeed, consumers’ WTP for the innovative product was far higher than the traditional one. Further, two out of three consumers’ groups detected (i.e. pro-innovation and rational adopters) exhibit a broad correlation between the innovative product attributes and consumers’ psychographics characteristics, revealing the existence of a large number of potential consumers.
Originality/value
The contribution of the paper to the current literature is twofold. First, it focused on an emerging topic for the agri-food sector (i.e. product innovation) whereby research works are still scarce. Second, product innovation was addressed toward a traditional food that is mostly reluctant to innovation due to consumers’ resistance and skepticism.
Details
Keywords
Raffaele Silvestri, Nino Adamashvili, Mariantonietta Fiore and Antonino Galati
This study aims to explore whether the blockchain technology (BCT), as a unique and distinctive resource, affects the development of unique capabilities and the integration and…
Abstract
Purpose
This study aims to explore whether the blockchain technology (BCT), as a unique and distinctive resource, affects the development of unique capabilities and the integration and reconfiguration of internal physical and human resources necessary to gain a trusted competitive advantage.
Design/methodology/approach
A case study approach has been used to identify the internal resources and capabilities that affect the decision to implement BCT and to determine whether this new technology can become a strategic internal resource in the wine industry.
Findings
Results show the role of two strategic resources: human resources, such as IT specialists and software developers for BCT applications, and skills of companies’ management to grant sensitive and confidential data to IT specialists and the ability to read the analytics from the BCT application, becoming a distinctive enabling assets.
Research limitations/implications
The main limitation of this study is related to the analysis of a single case, which, on the one hand, does not allow generalisation of the empirical findings but, on the other hand, is themost appropriatemethod for the explorative nature of this research.
Practical implications
Our findings have useful practical implications for wineries and agri-food companies in overall because they can support managers and entrepreneurs in effectively implementing these innovative digital technologies in their valuecreation process.
Originality/value
The study of this underexplored topic gives interesting insights into the resources needed for the successful adoption of this emerging technology, which can support wineries in improving the value-creating process. In particular, compared to the previous studies, this research analyses the adoption process under the resource-based theory lens.
Details
Keywords
Jamel Chouaibi, Giuseppe Festa, Gazi Mahabubul Alam and Matteo Rossi
The aim of this study is to investigate potential relationships between the corporate governance system and the innovation development process, with a specific focus on the…
Abstract
Purpose
The aim of this study is to investigate potential relationships between the corporate governance system and the innovation development process, with a specific focus on the agri-food sector in the Tunisian context.
Design/methodology/approach
Most studies on innovation management have shown the collective nature of the innovation process, resulting from the multiple interactions that can be established between various actors, internal and external to the enterprise perimeter, which is increasingly digitally open, especially in the COVID-19 era. More specifically, the implementation of an innovation strategy is a risky issue for businesses, most of all when considering its financial requirements and impacts, and thus, appropriate management plays a relevant role in this respect.
Findings
Statistical tests, operated on a sample of 80 Tunisian companies, show that the style of management and the concentration of ownership exert significant influence on the dynamism of technological innovation in the agri-food sector.
Originality/value
The involvement and the commitment of institutional investors can contribute to stimulate the innovation process in the agri-food sector, providing related implications with significant impact, at the scientific and managerial level.
Details
Keywords
Duc Tran, Hans De Steur, Xavier Gellynck, Andreas Papadakis and Joachim J. Schouteten
This study aims to investigate the impact of consumer ethnocentrism on consumers' evaluation of blockchain-based traceability information. It also examined how the use of quick…
Abstract
Purpose
This study aims to investigate the impact of consumer ethnocentrism on consumers' evaluation of blockchain-based traceability information. It also examined how the use of quick response (QR) codes for traceability affects consumers' evaluation of traceable food products.
Design/methodology/approach
An online choice experiment was conducted to determine consumers' evaluation of the blockchain-based traceability of Feta cheese with a quota sample of 715 Greek consumers. Pearson bivariate correlation and mean comparison were used to examine the relationship between consumer ethnocentrism and QR use behaviour. Random parameter logit models were employed to examine consumers’ valuation of the examined attributes and interaction terms.
Findings
The results show that ethnocentric consumers are willing to pay more for blockchain-based traceability information. Ethnocentric consumers tend to scan QR codes with traceability information. Spending more time reading traceability information embedded in QR codes does not lead to a higher willingness-to-pay (WTP) for traceable food products.
Practical implications
The findings suggest that patriotic marketing messages can draw consumers' attention to blockchain-based traceability information. The modest WTP for and low familiarity with blockchain-based traceability systems raise the need for educating consumers regarding the benefits of blockchain in traceability systems.
Originality/value
This is the first study to provide timely empirical evidence of a positive WTP for blockchain-based traceability information for a processed dairy product. This study is the first to attempt to distinguish the effects of the intention to scan QR codes and reading information embedded in QR codes on consumers’ valuation of food attributes.
Details
Keywords
Brandon Schaufele and David Sparling
The purpose of this paper is to investigate the relationships between regulatory changes, returns on equity and stock market valuations for Canadian food and non‐food…
Abstract
Purpose
The purpose of this paper is to investigate the relationships between regulatory changes, returns on equity and stock market valuations for Canadian food and non‐food agribusinesses.
Design/methodology/approach
Two empirical approaches are employed. First, an event study is used to evaluate the impact of official regulatory announcements on the stock market valuations of selected Canadian agribusinesses. Next, an approach introduced by Mishra et al. using the Du Pont expansion is applied to investigate the effect of regulations on firms' accounting profits. Data on Canadian food and non‐food agribusinesses are collected from Bloomberg, Thompson One Banker and SEDAR.
Findings
The event study demonstrates that official regulatory announcement dates do not correspond with abnormal stock market returns for Canadian firms, while the Du Pont model yields mixed evidence with respect to their accounting profits.
Research limitations/implications
This paper only considers publicly traded companies. As a result, survivorship bias may exist. Future research should include privately held and cooperative firms.
Social implications
Food regulations can influence firm profits and shareholder wealth, so understanding how government actions influence agribusiness is important when considering the total costs of current and future food policy.
Originality/value
The interaction between policy and the financial performance of Canada's publicly traded agribusinesses is an under‐researched area and no studies have examined Canadian data. The results of this study are valuable to both policy makers and researchers.
Details
Keywords
Cathrine Linnes, Jeffrey Thomas Weinland, Giulio Ronzoni, Joseph Lema and Jerome Agrusa
The purpose of this study is to examine the trend toward purchasing locally grown food and evaluate if tourists visiting Hawai'i are willing to pay more for locally produced foods…
Abstract
Purpose
The purpose of this study is to examine the trend toward purchasing locally grown food and evaluate if tourists visiting Hawai'i are willing to pay more for locally produced foods that are more ecologically sustainable.
Design/methodology/approach
A research questionnaire was developed in order to investigate the attitudes and behaviors of tourists from the continental United States visiting Hawai'i in purchasing locally grown food in Hawai'i. The final sample includes 454 valid survey responses collected via Momentive, a market research services company.
Findings
According to the findings of this study, there are economic prospects to expand the use of locally cultivated food into the tourists' experience, as well as a willingness for tourists to support these activities financially. The Contingent Valuation study revealed that tourists from the continental United States were ready to pay a higher price to purchase food that is locally grown, signifying that tourists to Hawai'i are willing to aid the local agriculture business by increasing their restaurant/hotel meal bill, which will help Hawai'i become a more sustainable tourist destination.
Research limitations/implications
While tourists from the United States mainland, which is the “an islands” top tourist market, have agreed with paying extra or an additional fee for locally grown food products, this study might not accurately represent the attitudes and behaviors of international tourists visiting Hawai'i. Future research should focus on the international tourist markets which may have different social norms or cultural differences thus could provide a broader spectrum of the current study's findings.
Originality/value
The results of this study provided quantitative evidence that tourists from the United States are interested in purchasing locally grown food items in Hawaii in addition to their willingness to pay an additional fee for these locally grown food products at a restaurant or a hotel dining room, thus addressing a gap in the tourism research.
Details
Keywords
Antonino Galati, Demetris Vrontis, Benedetto Giorlando, Marcella Giacomarra and Maria Crescimanno
This study aims to explore and describe the main enabling factors affecting the implementation of blockchain technology (BCT) in a strategic sector such as the wine industry, as…
Abstract
Purpose
This study aims to explore and describe the main enabling factors affecting the implementation of blockchain technology (BCT) in a strategic sector such as the wine industry, as well as the motivation behind this choice.
Design/methodology/approach
In light of the novelty of the phenomenon studied, a case study approach was adopted analyzing three Italian wineries. A conceptual framework, based on the dynamic capabilities, absorptive capacity and dominant logic theories, was developed. Primary and secondary data were collected.
Findings
Results show that wineries working in a highly dynamic and competitive market invest more in knowledge acquisition and internal assimilation and less in transformation and exploitation of acquired knowledge, in particular preferring to outsource the application phase of BCT. The particularity of the wine industry, indeed, demonstrates the existence of hybrid alternatives in which exploration and exploitation processes can be balanced. These findings confirm the value of the conceptual framework developed to explain how wineries implement BCT in their business.
Research limitations/implications
The present work must be considered in light of the research scope and its qualitative nature.
Practical implications
Findings suggest that the adoption of BCT depends on the wineries’ ability to invest more in effective knowledge management systems to acquire and assimilate knowledge internally and in managerial skills and dominant logic that become strategic resources that can improve their innovation performance.
Originality/value
Compared to previous studies on BCT adoption in the wine industry, this work helps us to better understand how wineries implement BCT as it focuses on their ability to acquire, manage and capitalize on the flow of knowledge, as a strategic resource, which forms the basis for creating dynamic capabilities and value. Findings are of interest to develop strategies aimed to ensure the effectiveness of this innovation in a strategic sector.
Details