Italian craft beer revolution: do spatial factors matter?
Journal of Small Business and Enterprise Development
ISSN: 1462-6004
Article publication date: 15 June 2017
Issue publication date: 11 August 2017
Abstract
Purpose
The purpose of this paper is to investigate the emergence of microbreweries in Italy over the last 20 years (period 1993-2014) and assess its main determinants.
Design/methodology/approach
The recent intense growth is expressed by the increasing number of entries in the sector actually accompanied, in most recent years, by an increasing number of exits. The paper proposes a quantitative assessment of this entry-exit dynamics through a sequence of econometric models known as survival models.
Findings
Together with two other orders of possible determinants (idiosyncratic characteristics and the exogenous evolution of the beer market), the paper assesses the role played by specific geographical and local factors within these dynamics. Estimation results show that, whereas market force and individual features unquestionably affect entry and exit choices, geographical and local factors are of limited relevance, especially for the recent entry dynamics.
Originality/value
Although the literature on the so-called craft beer revolution is already vast and increasing, the novel contribution of the paper concerns the specificity (if any) of the Italian case and the role of spatial factors in this respect. This investigation is performed adopting an advanced quantitative approach and this attempt is also quite original within this literature.
Keywords
Acknowledgements
The work developed in the framework of the research project on “Dynamic Models for behavioural economics” financed by DESP-University of Urbino, Italy.
Citation
Esposti, R., Fastigi, M. and Viganò, E. (2017), "Italian craft beer revolution: do spatial factors matter?", Journal of Small Business and Enterprise Development, Vol. 24 No. 3, pp. 503-527. https://doi.org/10.1108/JSBED-12-2016-0191
Publisher
:Emerald Publishing Limited
Copyright © 2017, Emerald Publishing Limited