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There has been a revolution in the winemaking and marketing of the country wines of southern France in the Languedoc‐Roussillon — the Vins de Pays d'Oc. This revolution has been founded on premium varietal wines and exploited modern techniques of vinification and marketing, which have drawn heavily on the experiences of the so‐called ‘New World.’ These new wines have successfully penetrated export markets, particularly the UK. Such developments, however, have attracted controversy, being criticised for encouraging the production of homogeneous, geographically inert, formulaic wines from well established rather than local grape varieties. However, a number of ventures are now showing increased recognition of local varieties and geographies in their winemaking and it is expected that such developments will continue. Moreover it is argued that the introduction of modern techniques in vinification and marketing, far from having a detrimental effect, have been of great benefit to the region.

The purpose of this paper is to show that the branded wine concept refers to a very heterogeneous category as regards wine made in France, but this sort of wine can appeal to certain types of consumers.

An initial qualitative study was carried out to explore consumer representation as regards branded wine. A second, quantitative, study enabled us, through a cluster analysis, to identify brand‐sensitive consumer segments in the wine field.

There is a divergence in consumer representation between novices and experts. The former considers A.O.C.s (Appellation d'Origine Contrôlée, a French official label of protected geographical indication) and regions as brands while the latter have a narrower vision of what a branded wine means. The “discoverers”, the youngest consumers (18‐29 years old), who are interested in wine and have little knowledge of it are most liable to be influenced by wine brands. The novices and routine consumers are also brand sensitive but to a lesser degree. The experts, on the other hand, are not influenced by brands.

The influence of the brand derives from the declarative. A more indirect measure which mixes the brand with other wine attributes would be preferable. The use of a sample of convenience means results can only be generalized with caution.

There indeed exists a place for branded wines on the French market but an association is needed with other attributes such as the origin and/or the grape variety.

Little research has been devoted to the French consumer's acceptance of branded wines.

This article compares the state of the French and Californian wine industries from a business perspective, through a broad survey of recent academic and popular press articles. Although these two wine regions may seem disparate, commonalities (including potential business opportunities and threats) make the comparison relevant. Facets of supply and demand are analyzed, and respective production and distribution regulations are summarized. Several predictions for the future are presented, with suggestions on how to best leverage these trends. Demands will rise as the economic downturn abates and overall non‐cyclic market expansion continues. Segmentation will play an even more important role in how suppliers target their offerings, as will changes within distribution and wine retailing. Regional shares of the domestic and export markets will shift as globalization of the sector, including international mergers and partnerships, continues. In conclusion, suppliers from both regions can take advantage of current conditions and future trends to produce and market wines in a business‐savvy manner.

This paper explores the massive growth in New World Wines and in particular more recently in Chilean Wines over recent years. It analyses a number of factors influencing this trend, including price, taste, distribution and so on, yet highlights one important aspect is the on‐shelf impact of New World, and in particular, Chilean Wines. This evaluation of the on‐the‐shelf impact of Chilean wines would appear to support the hypothesis that at least part of the current success of Chilean wines is concerned with image, particularly on‐the‐shelf image in an era of the global brand. As Old World Wine producers copy the modern dynamic image of the New World Wines and in particular Chilean Wines, will the Chilean Wines be identifiable on the shelf or will on‐the‐shelf image reflect price rather than country?

The public listing of small and medium enterprises (SMEs) is a recent phenomenon in India, started in 2012. Such a paradigm shift for SMEs has altered the ownership structure of these firms. In addition, the listing has provided a notable status to SMEs, leading to a shift in exposure to market competition. Literature signifies that these changing dynamics are likely to impact the firm value. This study aims to examine the effects of promoters’ ownership and market competition on the firm value of listed SMEs in India. Ownership concentration (promoters’ ownership) is investigated as the primary proxy for internal governance mechanism, while market competition is investigated as an external form of firm regulation.

Three years of panel data from 2018 to 2020 of 80 listed Indian SMEs are used to conduct the analysis. The fixed effects model and cluster robust standard errors captured the detected fixed effects while adjusting for heteroskedasticity and autocorrelation. Besides, moderation analysis is conducted to test if competition regulates the relation between promoters’ ownership and firm value.

Promoters’ ownership does not impact the firm value significantly. However, market competition is significant and negatively drives the firm’s value. So, the market competition provides external regulation and coerces the firms to behave well to conserve the firm value. Finally, competition does not regulate the relationship between ownership effects and firm value. Therefore, the study contrasts the belief that the benefits of internal governance (especially promoters’ ownership) for firms in competitive economies are subject to market competition.

The study establishes the possibility of an integrated approach where internal and external governance mechanisms coexist to drive the firm value and endorses the same. The study is relevant to shareholders, practitioners, lawmakers and academics.

Introduction M'étant intéressé pendant plus de vingt ans aux problèmes du financement de l'hôtellerie et d'autres installations touristiques, j'ai fait la constatation que dans de vastes milieux, même professionnels, l'image de la situation financière de l'offre touristique en hébergement ne correspond pas toujours avec la réalité.

Procurement efficiency as an element of public performance management can contribute to achieving Value for Money by reducing administrative overhead costs and directing resources to support more complex procurement processes. This paper highlights empirical techniques to understand determinants of efficiency in the procurement cycle focusing on elapsed time taken and drawing on a unique dataset on the procurement process within the World Bank. The study finds that different methods of bidding, whether international or domestic, and contract attributes partially explain differences in the duration of procurement processes.

Il peut paraître téméraire de brosser un tableau englobant ces deux sujets qui mériteraient d'être traités séparément et d'une manière moins superficielle, le premier, par un historien s'attachant à citer les faits et à les expliquer, le second, par un spécialiste de l'étude du marché doublé d'un sociologue averti des problèmes modernes.