Network Learning and Principal-agent Conflict: Wine-makers in Chile's Colchagua Valley
Network Learning and Principal-agent Conflict: Wine-makers in Chile's Colchagua Valley
Author(s): David E. HojmanSubject(s): Economy, Business Economy / Management, Agriculture, Socio-Economic Research
Published by: Akadémiai Kiadó
Keywords: principal-agent; networks; wine; Chile;
Summary/Abstract: Chile's Colchagua Valley is both a geographical cluster of wineries and a dynamic learning network of wine-making professionals. A principal-agent problem arises in that the latter knowledge network is frowned upon by owners and top managers. Whereas experts aim at maximising quality, firms are interested in profits. Individual, personal success as a world-class expert is worth more to each professional, than to the respective winery. This conflict is compounded by traditional, authoritarian industrial relations. Multiple regression results confirm that expert network activity is a very poor predictor of award-winning international performance, or profits.
Journal: Society and Economy. In Central and Eastern Europe ǀ Journal of the Corvinus University of Budapest
- Issue Year: 28/2006
- Issue No: 2
- Page Range: 97-116
- Page Count: 20
- Language: English
