Wine investment: an evaluation of the perceptions and motives of individual and institutional investors Online publication date: Wed, 29-Oct-2014
by Emmanuelle Granier; Ruth Rios-Morales; Pia Huh
J. for International Business and Entrepreneurship Development (JIBED), Vol. 7, No. 3, 2014
Abstract: In the present global financial system characterised by risk aversion, wine investment has emerged as an alternative to conventional investment. In the light of wine investment's growing popularity amongst individual and institutional investors, this paper examines the perceptions and motives of individual and institutional wine investors, addressing specifically decision-making drivers, asset selection and specificities, and variant approaches to investment's risk and returns. Our main findings suggest that individual wine investors' motives differ from those of institutional wine investors. Furthermore, individual wine investors do not perceive much difference between wine investment's and other assets' risk and returns. Finally, notwithstanding the clear and incontrovertible financial utility-driven rationality, institutional wine investors' motives are proved to be partially conflicting with some aspects of mainstream theory.
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