Journal
RESULTS IN ENGINEERING
Volume 14, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.rineng.2022.100389
Keywords
Data envelopment analysis; Cluster analysis; Econometric model; Wine industry
Categories
Funding
- FCT (Fundacao para a Ciencia e Tecnologia) [UIDB/04007/2020]
- Fundação para a Ciência e a Tecnologia [UIDB/04007/2020] Funding Source: FCT
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Wine is an integral part of the economy and culture of many countries, but there is a lack of empirical evidence regarding the efficiency of wine companies in Portugal, one of the main wine producers. This study evaluates the efficiency of wine companies using a four-step approach and suggests specific measures to improve efficiency.
Wine is an integral part of the economy and culture of many countries. Despite that, in Portugal - one of the main wine-producers - there is a lack of empirical evidence regarding the efficiency of these firms. Thus, the purpose of this article is to assess such efficiency using a four-step approach, which includes the selection of relevant financial and operational variables, a cluster analysis for the identification of homogenous decision making units, a data envelopment analysis for the efficiency quantification, and an econometric model to determine the var-iables with most influence on efficiency. The results indicate that 36% of the firms are efficient, in part due to the considerable number of inefficient firms in the regions of North, Centre, and Lisbon and Tejo. The performance of the Setubal, and Alentejo and Algarve regions is noteworthy, since these obtained the highest percentage of efficient companies. The findings also suggest that, in order to improve efficiency, wine companies should reduce inventory and fixed assets and increase sales revenue.
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