Assessing experiential augmentation of the environment in the valuation of wine: Evidence from an economic experiment in Mt. Etna,Italy

In this study, we conducted an experimental auction to determine the impacts that “experiential augmentation,” a phenomenon in which a physical location impacts decision‐making, has on consumers’ willingness to pay (WTP) for wine. The experiment elicited subjects’ valuation under experiential augmentation conditions for three types of wine grown in the Mt. Etna area in Sicily, Italy. Our findings indicate that experiential augmentation increased consumers’ WTP for wine. Our results suggest that experiential marketing practices explicitly related to the environment where the wine is produced and consumed can lead to increased valuation for wine.     

Corporate sustainability in action

Recent developments in management have highlighted the need for research on corporate sustainability strategies at the value chain level and in particular in the context of franchising. Although franchising is a widespread phenomenon, there is little empirical evidence of how companies approach the issue. By employing a multi-method research approach, this study explores the importance that franchisors assign to sustainability and the way they deal with it. Our findings show that franchisors adopt three main different sustainability strategies, with an increasing relevance of social sustainability as an enabler of environmental sustainability. The study sheds some light also on the interplay between the franchisor–franchisee relationship features and the company's approach toward sustainability. Preliminary propositions are presented as a starting point for further research in this area.     

The MultiJurisdictional Disclosure System: Model for Future Cooperation?

This study investigates whether the MultiJurisdictional Disclosure System (MJDS) was successful in meeting its stated objectives, namely, facilitating cross-border offerings and reporting by Canadian firms. The MJDS is a bilateral agreement implemented in July 1991 between Canadian and US market regulators. It is hypothesized that facilitating crossborder offerings via the MJDS will lead to an increase in the number of US listings by Canadian firms and reduced costs of US listing for extant Canadian listers. Data evaluated include changes in US exchange listings from 1987 to 1995 and questionnaires to two subgroups of Canadian firms: (1) the population of Canadian firms listing their securities in US and Canadian markets and (2) a sample of Canadian firms listing only on Canadian exchanges. We conclude that for most Canadian firms, the MJDS provides no significant benefit. Further, few firms reported that the MJDS affected their decision to list in the United States. Our results suggest that the MJDS has not, overall, provided the benefits originally envisioned under it, and we question whether it is an appropriate model for future cooperation between national regulatory groups.     

Contents of Volume 6

Volume Contents

Contents of Volume 6