000001906 001__ 1906
000001906 005__ 20181011083218.0
000001906 022__ $$a1476-1297
000001906 0247_ $$2DOI$$a10.1504/IJESB.2016.079966
000001906 037__ $$aARTICLE
000001906 041__ $$aeng
000001906 245__ $$aA study of the performance of fine wine on the Swiss market
000001906 260__ $$c2016
000001906 269__ $$a2016-12
000001906 300__ $$a17 p.
000001906 506__ $$avisible
000001906 506__ $$d2017-07-01
000001906 520__ $$9eng$$aThis paper studies the price evolution and the performance of an investment in fine wine on the Swiss market over the period 2002-2012. Using a repeat-sales-regression approach we calculate different wine indices based on auction hammer prices obtained by Steinfels Weinauktionen. Our results show that different fine wines followed a similar evolution across the sample period but that the amplitude of returns strongly depended on wine regions and types. While Bordeaux and Burgundy wines performed well, wines from the Rhône valley and Italy show a poorer performance. Compared to financial assets wine has significantly outperformed stocks, but not bonds. We further find that the Swiss franc appreciation has had a significant impact on wine prices.
000001906 592__ $$aEHL Ecole hôtelière de Lausanne
000001906 592__ $$cEconomie et Services
000001906 6531_ $$9eng$$afine wine
000001906 6531_ $$9eng$$aSwitzerland
000001906 6531_ $$9eng$$aauction
000001906 6531_ $$9eng$$ahammer price
000001906 6531_ $$9eng$$aalternative investment
000001906 6531_ $$9eng$$aportfolio diversification
000001906 6531_ $$9eng$$aCAPM
000001906 6531_ $$9eng$$arepeat-sales regression
000001906 6531_ $$9eng$$aforeign exchange
000001906 655__ $$ascientifique
000001906 65017 $$aEconomie/gestion
000001906 700__ $$aMasset, Philippe$$uEcole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland
000001906 700__ $$aWeisskopf, Jean-philippe$$uEcole hôtelière de Lausanne, HES-SO // University of Applied Sciences Western Switzerland
000001906 773__ $$g2016, vol. 29, no. 4, pp. 566-582$$tInternational journal of entrepreneurship and small business
000001906 8564_ $$s314196$$uhttp://hesso.tind.io/record/1906/files/masset_study_performance_fine_wine_2016.pdf
000001906 909CO $$ooai:hesso.tind.io:1906$$pDoc_type_Articles$$pGLOBAL_SET$$qHEGGE_professionnels$$qEcole_hôtelière_de_Lausanne:Economie/gestion$$qHEG-GE:scientifique$$qDoc_type_Conferences$$qDoc_type_Rapport$$qDoc_type_Livres$$qDoc_type_Theses$$qDoc_type_Media$$qHEG-GE:professionnel$$qDoc_type_Chapitre_livre$$qDoc_type_Preprint$$qHEG-GE:public_conference
000001906 906__ $$aGREEN
000001906 950__ $$aI2
000001906 980__ $$ascientifique