Financial resilience of Spanish wineries during the COVID-19 lockdown
Purpose - The research focuses on the impact of COVID-19 on the Spanish wine sector and the financial resilience of Spanish wineries in the period 2019-2020. Design/methodology/approach -The dataset contains 355 limited companies of the Spanish wine sector which were active in the period 2019-2020....
| Autores: | , , |
|---|---|
| Tipo de recurso: | artículo |
| Estado: | Versión aceptada para publicación |
| Fecha de publicación: | 2023 |
| País: | España |
| Institución: | Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya) |
| Repositorio: | Recercat. Dipósit de la Recerca de Catalunya |
| OAI Identifier: | oai:recercat.cat:10256/23055 |
| Acceso en línea: | http://hdl.handle.net/10256/23055 |
| Access Level: | acceso abierto |
| Palabra clave: | Pandèmia de COVID-19, 2020- -- Aspectes econòmics COVID-19 Pandemic, 2020- -- Economic aspects Empreses -- Finances Business enterprises -- Finance Vi -- Indústria i comerç Wine industry Anàlisi financera Investment analysis Estats financers Financial statements |
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Financial resilience of Spanish wineries during the COVID-19 lockdownArimany Serrat, NúriaFarreras Noguer, M. ÀngelsCoenders, GermàPandèmia de COVID-19, 2020- -- Aspectes econòmicsCOVID-19 Pandemic, 2020- -- Economic aspectsEmpreses -- FinancesBusiness enterprises -- FinanceVi -- Indústria i comerçWine industryAnàlisi financeraInvestment analysisEstats financersFinancial statementsPurpose - The research focuses on the impact of COVID-19 on the Spanish wine sector and the financial resilience of Spanish wineries in the period 2019-2020. Design/methodology/approach -The dataset contains 355 limited companies of the Spanish wine sector which were active in the period 2019-2020. The explanatory variables used are size and age of the company, exports, subsidies, and gender distribution in the workforce. The financial statements of the companies are treated as compositional data, using log-ratios for asset structure, leverage, margin, turnover, and debt maturity. The first-difference estimator is used for the panel-data model relating the differences in the log-ratios between 2020 and 2019 to the explanatory variables. Findings - In average terms, margin and turnover have significantly worsened between 2019 and 2020 while debt maturity has increased. A larger firm size, a greater age, a higher share of women in the workforce, and subsidies have made wineries more resilient between 2019 and 2020. Originality/value - This is the first financial statement analysis of the impact of COVID-19 in the winery sectorThis article was supported by the Spanish Ministry of Science and Innovation/AEI/10.13039/501100011033 and by ERDF A way of making Europe [grant number PID2021-123833OB-I00]; the Spanish Ministry of Health [grant number CIBERCB06/02/1002]; and the Government of Catalonia [grant numbers 2017SGR656, 2017SGR386, 2017SGR155]EmeraldAgencia Estatal de Investigación2023info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionpeer-reviewed19 p.application/pdfhttp://hdl.handle.net/10256/23055© International Journal of Wine Business Research, 2023, vol. 35, núm. 2, p. 346-364Articles publicats (D-EC)Arimany Serrat, Núria Farreras Noguer, M. Àngels Coenders, Germà 2023 Financial resilience of Spanish wineries during the COVID-19 lockdown International Journal of Wine Business Research 35 2 346 364reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)Inglésinfo:eu-repo/semantics/altIdentifier/doi/10.1108/IJWBR-03-2022-0012info:eu-repo/semantics/altIdentifier/issn/1751-1062PID2021-123833OB-I00info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023/PID2021-123833OB-I00Reconeixement-NoComercial 4.0 Internacionalhttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessoai:recercat.cat:10256/230552026-05-29T05:05:01Z |
| dc.title.none.fl_str_mv |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| title |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| spellingShingle |
Financial resilience of Spanish wineries during the COVID-19 lockdown Arimany Serrat, Núria Pandèmia de COVID-19, 2020- -- Aspectes econòmics COVID-19 Pandemic, 2020- -- Economic aspects Empreses -- Finances Business enterprises -- Finance Vi -- Indústria i comerç Wine industry Anàlisi financera Investment analysis Estats financers Financial statements |
| title_short |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| title_full |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| title_fullStr |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| title_full_unstemmed |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| title_sort |
Financial resilience of Spanish wineries during the COVID-19 lockdown |
| dc.creator.none.fl_str_mv |
Arimany Serrat, Núria Farreras Noguer, M. Àngels Coenders, Germà |
| author |
Arimany Serrat, Núria |
| author_facet |
Arimany Serrat, Núria Farreras Noguer, M. Àngels Coenders, Germà |
| author_role |
author |
| author2 |
Farreras Noguer, M. Àngels Coenders, Germà |
| author2_role |
author author |
| dc.contributor.none.fl_str_mv |
Agencia Estatal de Investigación |
| dc.subject.none.fl_str_mv |
Pandèmia de COVID-19, 2020- -- Aspectes econòmics COVID-19 Pandemic, 2020- -- Economic aspects Empreses -- Finances Business enterprises -- Finance Vi -- Indústria i comerç Wine industry Anàlisi financera Investment analysis Estats financers Financial statements |
| topic |
Pandèmia de COVID-19, 2020- -- Aspectes econòmics COVID-19 Pandemic, 2020- -- Economic aspects Empreses -- Finances Business enterprises -- Finance Vi -- Indústria i comerç Wine industry Anàlisi financera Investment analysis Estats financers Financial statements |
| description |
Purpose - The research focuses on the impact of COVID-19 on the Spanish wine sector and the financial resilience of Spanish wineries in the period 2019-2020. Design/methodology/approach -The dataset contains 355 limited companies of the Spanish wine sector which were active in the period 2019-2020. The explanatory variables used are size and age of the company, exports, subsidies, and gender distribution in the workforce. The financial statements of the companies are treated as compositional data, using log-ratios for asset structure, leverage, margin, turnover, and debt maturity. The first-difference estimator is used for the panel-data model relating the differences in the log-ratios between 2020 and 2019 to the explanatory variables. Findings - In average terms, margin and turnover have significantly worsened between 2019 and 2020 while debt maturity has increased. A larger firm size, a greater age, a higher share of women in the workforce, and subsidies have made wineries more resilient between 2019 and 2020. Originality/value - This is the first financial statement analysis of the impact of COVID-19 in the winery sector |
| publishDate |
2023 |
| dc.date.none.fl_str_mv |
2023 |
| dc.type.none.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion peer-reviewed |
| format |
article |
| status_str |
acceptedVersion |
| dc.identifier.none.fl_str_mv |
http://hdl.handle.net/10256/23055 |
| url |
http://hdl.handle.net/10256/23055 |
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Inglés |
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Inglés |
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info:eu-repo/semantics/altIdentifier/doi/10.1108/IJWBR-03-2022-0012 info:eu-repo/semantics/altIdentifier/issn/1751-1062 PID2021-123833OB-I00 info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2021-2023/PID2021-123833OB-I00 |
| dc.rights.none.fl_str_mv |
Reconeixement-NoComercial 4.0 Internacional http://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
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Reconeixement-NoComercial 4.0 Internacional http://creativecommons.org/licenses/by-nc/4.0 |
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openAccess |
| dc.format.none.fl_str_mv |
19 p. application/pdf |
| dc.publisher.none.fl_str_mv |
Emerald |
| publisher.none.fl_str_mv |
Emerald |
| dc.source.none.fl_str_mv |
© International Journal of Wine Business Research, 2023, vol. 35, núm. 2, p. 346-364 Articles publicats (D-EC) Arimany Serrat, Núria Farreras Noguer, M. Àngels Coenders, Germà 2023 Financial resilience of Spanish wineries during the COVID-19 lockdown International Journal of Wine Business Research 35 2 346 364 reponame:Recercat. Dipósit de la Recerca de Catalunya instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya) |
| instname_str |
Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya) |
| reponame_str |
Recercat. Dipósit de la Recerca de Catalunya |
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Recercat. Dipósit de la Recerca de Catalunya |
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