IDEAS home Printed from https://ideas.repec.org/p/ila/ilades/inv184.html
   My bibliography  Save this paper

Propiedad Extranjera y Especialización Productiva en la Industria del Vino en Chile

Author

Listed:

Abstract

En este trabajo se analizan los diferentes patrones de especialización productiva seguidos por inversionistas extranjeros en la industria del vino en Chile; en particular, su efecto sobre la estructura de propiedad que la firma escoge para su nuevo negocio vitivinícola. Existe evidencia que viñas organizadas como Joint Venture (JV) tienen mayor participación en los segmentos de vinos exportados con mayor valor unitario, respecto al caso de viñas que son filiales de inversionistas extranjeros. La hipótesis central bajo estudio es que para inversionistas extranjeros con producción más especializada en vinos de mayor valor, acuerdos de ‘propiedad compartida’ o JV pueden ser un mecanismo eficiente para incentivar las inversiones y esfuerzos productivos requeridos por tal tipo de producción. Las razones analizadas se refieren fundamentalmente al diseño de incentivos contractuales eficientes.

Suggested Citation

  • R. Javier Bustos S. & Julio Peña Torres & Manuel Willington, 2007. "Propiedad Extranjera y Especialización Productiva en la Industria del Vino en Chile," ILADES-UAH Working Papers inv184, Universidad Alberto Hurtado/School of Economics and Business.
    • Handle: RePEc:ila:ilades:inv184
    as

    Download full text from publisher

    File URL: http://fen.uahurtado.cl/wp-content/uploads/2010/07/inv184.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hart, Oliver, 1995. "Firms, Contracts, and Financial Structure," OUP Catalogue, Oxford University Press, number 9780198288817.
    2. Fiona M. Scott Morton & Joel M. Podolny, 1998. "Love or Money? The Effects of Owner Motivation in the California Wine Industry," Yale School of Management Working Papers ysm101, Yale School of Management.
    3. Cai, Hongbin, 2003. "A Theory of Joint Asset Ownership," RAND Journal of Economics, The RAND Corporation, vol. 34(1), pages 63-77, Spring.
    4. Fiona M. Scott Morton & Joel M. Podolny, 1998. "Love or Money? The Effects of Owner Motivation in the California Wine Industry," NBER Working Papers 6743, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Julio Elías & Gustavo Ferro & Álvaro García, 2019. "A Quest for Quality: Creativity and Innovation in the Wine Industry of Argentina," Asociación Argentina de Economía Política: Working Papers 4135, Asociación Argentina de Economía Política.
    2. Farinelli, Fulvia & Fernández-Stark, Karina & Meneses, Javier & Meneses, Soledad & Mulder, Nanno & Reuse, Karim, 2017. "Use of knowledge-intensive services in the Chilean wine industry," Comercio Internacional 43183, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. Julio Elías & Gustavo Ferro, 2018. "Innovators and Innovations in High Quality Wines of Argentina," CEMA Working Papers: Serie Documentos de Trabajo. 651, Universidad del CEMA.
    4. Farinelli, Fulvia, 2013. "Innovation and Learning Dynamics in the Chilean and Argentine Wine Industries," Working Papers 164653, American Association of Wine Economists.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Patrick W. Schmitz, 2006. "Information Gathering, Transaction Costs, and the Property Rights Approach," American Economic Review, American Economic Association, vol. 96(1), pages 422-434, March.
    2. Hideshi Itoh & Hodaka Morita, 2006. "Formal Contracts, Relational Contracts, and the Holdup Problem," CESifo Working Paper Series 1786, CESifo.
    3. Charlie Joyez, 2017. "Firm heterogeneity and the integration trilemma: The utility of Joint ventures in integration versus outsourcing models," Working Papers DT/2017/09, DIAL (Développement, Institutions et Mondialisation).
    4. Nicoletta Berardi & Paul Seabright, 2020. "Joint Ownership of Production Projects as a Commitment Device against Interest Groups," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 176(3), pages 572-594.
    5. Halonen-Akatwijuka, Maija & Pafilis, Evagelos, 2020. "Common ownership of public goods," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 555-578.
    6. Mori, Yusuke, 2020. "Ex ante investment, ex post adaptation, and joint ownership," Economics Letters, Elsevier, vol. 187(C).
    7. Gattai, Valeria & Natale, Piergiovanna, 2013. "What makes a joint venture: Micro-evidence from Sino-Italian contracts," Review of Financial Economics, Elsevier, vol. 22(4), pages 194-205.
    8. Müller, Daniel & Schmitz, Patrick W., 2016. "Transaction costs and the property rights approach to the theory of the firm," European Economic Review, Elsevier, vol. 87(C), pages 92-107.
    9. Hodaka Morita & Maroš Servátka, 2018. "Investment in Outside Options as Opportunistic Behavior: An Experimental Investigation," Southern Economic Journal, John Wiley & Sons, vol. 85(2), pages 457-484, October.
    10. Haveman, Heather A. & Khaire, Mukti V., 2004. "Survival beyond succession? The contingent impact of founder succession on organizational failure," Journal of Business Venturing, Elsevier, vol. 19(3), pages 437-463, May.
    11. Andreas Roider, 2004. "Asset Ownership and Contractibility of Interaction," RAND Journal of Economics, The RAND Corporation, vol. 35(4), pages 787-802, Winter.
    12. Valeria Gattai & Piergiovanna Natale, 2013. "What makes a joint venture: Micro‐evidence from Sino‐Italian contracts," Review of Financial Economics, John Wiley & Sons, vol. 22(4), pages 194-205, November.
    13. Ilya Segal & Michael D.Whinston, 2012. "Property Rights [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
    14. Hart, Oliver D. & Zingales, Luigi, 2022. "The New Corporate Governance," Working Papers 317, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
    15. Thomas F. Hellmann & Veikko Thiele, 2012. "A Theory of the Firm based on Partner Displacement," NBER Working Papers 18495, National Bureau of Economic Research, Inc.
    16. Gürtler, Oliver, 2006. "Optimal Ownership Structures in the Presence of Investment Signals," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 103, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    17. Valeria Gattai & Piergiovanna Natale, 2014. "Joint Ventures and the Property Rights Theory of the Firm: a Review of the Literature," Working Papers 287, University of Milano-Bicocca, Department of Economics, revised Dec 2014.
    18. Valeria Gattai & Piergiovanna Natale, 2017. "A New Cinderella Story: Joint Ventures And The Property Rights Theory Of The Firm," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 281-302, February.
    19. Norimichi Matsueda & Jun’Ichi Miki, 2017. "Contracting-Out Of Household Waste Collection Services In Japan," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(02), pages 443-455, May.
    20. Persson, Torsten & Tabellini, Guido, 2002. "Political economics and public finance," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 24, pages 1549-1659, Elsevier.

    More about this item

    Keywords

    Inversión Extranjera; Joint Venture; Industria Vitivinícola;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • L24 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Contracting Out; Joint Ventures
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ila:ilades:inv184. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mauricio Tejada (email available below). General contact details of provider: https://edirc.repec.org/data/deilacl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.