AAWE, Economics Dept, New York University, 19 W 4th St, 6Fl., New York NY 10012aawe@wine-economics.org

AAWE Working Paper No. 221 – Economics

When do climatic changes matter? An investigation of impacts on product market strategies in the wine industry.

Jeremy Galbreath

Abstract

Little empirical research has considered the impact of physical changes in the climate on firm behaver nor relied on natural stakeholder-based theory (NSBT) to explore such a relationship. For a sample of 2,348 wine firms operating in Australia, this study captures changes in both temperature and rainfall for the year 2012 relative to the year 1982 (30 years), and finds that these climatic changes are positively associated with organic products. Further, because of their sensitivities to the natural environment and positions of influence, the study predicts that women in leadership will moderate the relationship between climatic changes and organic products. This postulate finds support. The study advances research on climate change and the use of NSBT. Contributions of the findings are discussed along with limitations and future research opportunities.

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