Dr Jean-Philippe Weisskopf

Jean-Philippe Weisskopf

Dr Jean-Philippe Weisskopf

Professeur Associé

Expertise

Investissements de collection
Gouvernance d'entreprise
Finance d'entreprise empirique
Entreprises familiales
Économie des restaurants
Économie du vin
Finance d'entreprise
Corporate Finance

Biographie

Dr Jean-Philippe est Professeur Associé de finance à l'EHL (EHL) et professeur invité à l'Université de Fribourg (CH). Il est titulaire d'un doctorat de l'Université de Fribourg (CH) et a acquis une expérience professionnelle dans une banque privée Suisse.

Ses recherches portent sur la finance d'entreprise empirique, les entreprises familiales et l'économie du vin. Jean-Philippe est membre fondateur de l'Alliance for Research on Wine & Hospitality Management et Bordeaux Wine Economics. Il a publié des articles dans des revues de haut niveau telles que le Journal of Banking & Finance, le Journal of Corporate Finance, Applied Economics ou le Journal of International Financial Markets, Institutions and Money.

Il est également l'auteur d'un grand nombre de publications sur l'économie du vin dans le Journal of Wine Economics, Economic Modelling et Emerging Markets Review. Il a contribué à des chapitres d'ouvrages et participé dans multiples conférences. Il a été nommé chercheur de l'année 2016 à l'EHL.

Récompenses

Researcher of the Year (2016)

Formation

Dr. rer. pol., University of Fribourg

Cours enseignés

BACHELOR OF SCIENCE IN INTERNATIONAL HOSPITALITY MANAGEMENT
• Corporate Finance
• Finance d'entreprise

Lieu d'enseignement

EHL Campus Lausanne
EHL Campus (Singapore)

Publications académiques

Publications académiques de Jean-Philippe Weisskopf

Article

Pay-out policies in founding family firms

This article analyses founding family influence on pay-out policies for Swiss listed firms over the period 2003–2010. We hypothesise that family firms have different incentives and characteristics that affect pay-out decisions and propose three...

Article

Wine funds : an alternative turning sour?

This article examines the performance, selectivity, and market-timing abilities of wine fund managers over the 2000–2013 period. The authors hypothesize that wine fund managers should be able to profit from market inefficiencies on the wine market...

Article

Wine tasters, ratings, and en primeur prices

This paper examines the ratings of 12 influential wine critics on the Bordeaux en primeur market over the vintages 2003 – 2012. We hypothesize that wine experts differ significantly in their rating approach and in fl uence on prices. We fi nd that...

Article

Red obsession : the ascent of fine wine in China

This article uses hammer prices from five global auction houses to analyse the price premium Bordeaux fine wine yields at Hong Kong wine auctions. We find that fine wine is on average sold at a 19% premium in Hong Kong. We further observe that the...

Article

A study of the performance of fine wine on the Swiss market

This paper studies the price evolution and the performance of an investment in fine wine on the Swiss market over the period 2002-2012. Using a repeat-sales-regression approach we calculate different wine indices based on auction hammer prices...

Article

Wine indices in practice : nicely labeled but slightly corked

This paper examines and compares wine price indices available on the wine market with those proposed in academia. We especially analyze the impact illiquidity has on the different indices and validate our findings using a simulation which allows us...

Article

When rationality meets passion : on the financial performance of collectibles

This article examines prior evidence and proposes an empirical study of the performance of passion investments in comparison with financial and real assets over the past 20 years. Over this period, classic cars and fine wines (but not visual art)...

Article

Behavioural heterogeneity in wine investments

We introduce a heterogeneous agent model to explain the dynamics of fine wine investments. Our results show evidence of the existence of both fundamentalists – those who trade on mean-reversion towards a fair value – and chartists – those who...

Article

Family ownership, asset levels, and firm performance in Western European hospitality companies

This article uses a comprehensive sample of companies from 16 Western European countries over the period 2004 and 2016 to examine the relationship between blockholder ownership, asset levels, and corporate performance in the hospitality industry. We...

Article

The price of international equity ETFs : the role of relative liquidity

We examine the effect of the relative liquidity of international equity exchange-traded funds (ETFs) and their constituent portfolios on the price difference between the fund’s market prices and its net asset values. We use data for a sample of 584...

Article

Last frontier investments : the case of Alpine wines

We identify and examine the performance of frontier investments from 2002 to 2017. Using fine wine as a setting, we find that the trade frequency and value of frontier investments in the form of Alpine wines have increased in recent years, leading...

Article

Breaking bad : an investment in cannabis

This paper investigates the risk and return features of an investment in the cannabis industry. It further describes the current state of the market for cannabis and critically examines its potential future development. Findings show that a...

Article

What if dividends were tax-exempt ? : evidence from a natural experiment

We study the effect of dividend taxes on the payout and investment policies of publicly listed firms. We exploit a unique setting in Switzerland where, following the corporate tax reform of 2011, some but not all firms were suddenly able to pay...

Article

New York restaurants : a wine odyssey between 1865 and 1920

We examine the existence of wine in New York City restaurant menus over the period 1865 to 1920 for a sample of 850,000 restaurant menu items and 51,000 wines. Wine was already commonly present on menus in 1865, and its offering increased up until...

Article

Analyzing the risks of an illiquid and global asset : the case of fine wine

We use a unique and very deep database to examine the performance of wine investments over the period 2003–2014. Our results reveal that the returns stemming from those investments are important but can largely be explained by their exposure to...

Article

Chasing dividends during the COVID?19 pandemic

This paper investigates the impact of the coronavirus disease 2019 pandemic on investors' trading behaviors around ex-dividend dates in Europe. The sudden decrease in the number of companies paying dividends reduced the opportunities to capture...

Article

At what price should Bordeaux wines be released?

This paper models optimal release prices of an experience good recurrently issued on markets. Using a sample of Bordeaux wines, we find that using a minimal number of intrinsic and extrinsic attributes is sufficient to explain a large proportion of...

Article

Cross-dimensional measures of asset lightness and fee orientation in lodging groups

This study proposes cross-dimensional measures of the degree of implementation of the lodging industry’s asset- light & fee-oriented (ALFO) strategy. We apply a common factor analysis to measure the degree of implemented ALFO strategy on a sample of...

Article

Fine wine pricing in a small and highly competitive market

Purpose – This study aims to identify the price determinants of fine wines in a small and competitive market. These characteristics are found in many lesser-known wine-producing countries and are often difficult to analyse because of lack of data....

Article

Efficient pricing of Bordeaux en primeur wines

This paper proposes an approach to determine efficient release prices on the Bordeaux en primeur (primary) market. The model exploits information from the secondary market to estimate efficient release prices. We apply the model to a representative...

Article

To share or not to share: An analysis of wine list disclosure by Swiss restaurant owners

This paper uses data from the 2021 Swiss edition of the Gault&Millau food guide to analyze the probability with which restaurant owners decide to share their wine list with the public. This is an important question relating to the amount of...

Article

Online reputation and Debt Capacity

This paper explores the effects of online customer ratings on financial policy. Using a large sample of Parisian restaurants, we find a positive and economically significant relation between customer ratings and bank debt. We use the locally...

Publications dans des revues

Masset, P. and Weisskopf, J.-P. (forthcoming). From risk to reward: the strategic advantages of diversifying grape varietals. International Journal of Contemporary Hospitality Management.

Poretti, C., Weisskopf, J. P., & de Régie, P. D. V. (forthcoming). Innovative business strategies, corporate performance, and firm value in the travel and leisure industry. International Journal of Hospitality Management.

Weisskopf, J.-P. (forthcoming). Simplifying the complex: 10-K readability and asset structure. International Journal of Hospitality Management.

Masset, P., Poretti, C. & Weisskopf, J.-P. (Forthcoming). In family we trust—In good and bad times. International Review of Finance.

Gergaud, O., Masset, P., Pedrinelli, A., & Weisskopf, J. (Forthcoming). To share or not to share: An analysis of wine list disclosure by Swiss restaurant owners. Journal of Wine Economics.

Derrien, F., Garel, A., Petit-Romec, A. & Weisskopf, J.-P. (Forthcoming). Online reputation and Debt Capacity. Journal of Quantitative and Financial Analysis.

Masset, P., Mondoux, A. & Weisskopf, J.-P. (2023). Fine wine pricing in a small and highly competitive market. International Journal of Wine Business Research. Retrieved from https://doi.org/10.1108/IJWBR-10-2021-0054

Lussi, S., Masset, P., Weisskopf, J.-P., & Blal, I. (2023). Cross-dimensional measures of asset lightness and fee orientation in lodging groups. International Journal of Hospitality Management, 109, 103391.

Eugster, N., Ducret, R., Isakov, D., & Weisskopf, J.-P. (2022). Chasing dividends during the COVID-19 pandemic. International Review of Finance. https://doi.org/10.1111/irfi.12360

Masset, P., & Weisskopf, J.-P. (2022). At what price should Bordeaux wines be released? Economic Inquiry, 60 (1), 392-412. https://doi.org/10.1111/ecin.12997

Masset, P., Weisskopf, J.-P., Cardebat, J.M., Faye, B. & Le Fur, E. (2021). Analyzing the risks of an illiquid and global asset: The case of fine wine. The Quarterly Review of Economics and Finance, 82, 1-25.

Isakov, D., Pérignon, C., & Weisskopf, J.-P. (2021). What If Dividends Were Tax-Exempt? Evidence from a Natural Experiment. The Review of Financial Studies. https://doi.org/10.1093/rfs/hhab010

Masset, P., & Weisskopf, J.-P. (2021). New York Restaurants: A Wine Odyssey Between 1865 and 1920. Cornell Hospitality Quarterliy, 1-16. https://doi.org/10.1177/19389655211009852

Masset, P., Weisskopf, J.-P., & Fauchery, C. (2020). Last Frontier Investments: The Case of Alpine Wines. Journal of Wine Economics, 15(2), 181-206. https://doi.org/10.1017/jwe.2019.30

Weisskopf, J.-P. (2020). Breaking bad: An investment in cannabis. Finance Research Letters, 33, 101201. https://doi.org/10.1016/j.frl.2019.05.019

Atanasova, C., & Weisskopf, J.-P. (2020). The price of international equity ETFs: The role of relative liquidity. Journal of International Financial Markets, Institutions and Money, 65, 101190. https://doi.org/10.1016/j.intfin.2020.101190

Masset, P., Uzelac, I., & Weisskopf, J.-P. (2019). Family Ownership, Asset Levels and Firm Performance in Western European Hospitality Companies. Journal of Hospitality and Tourism Research, 46(3), 867-889. https://doi.org/10.1177%2F1096348019849665

Fernandez-Perez, A., Frijns, B., Tourani-Rad, A., & Weisskopf, J.-P. (2019). Behavioural heterogeneity in wine investments. Applied Economics, 51(30), 3236-3255. https://doi.org/10.1080/00036846.2019.1566686

Masset, P., & Weisskopf, J.-P. (2018). Wine indices in practice: Nicely labeled but slightly corked. Economic Modelling, 68, 555-569. https://doi.org/10.1016/j.econmod.2017.03.025

Masset, P., Weisskopf, J.-P., Cardebat, J.-M., Faye, B., & Le Fur, E. (Forthcoming). Analyzing the risks of an illiquid and global asset: The case of fine wine. The Quarterly Review of Economics and Finance. https://doi.org/10.1016/j.qref.2021.06.023

Eugster, Masset, P., & Weisskopf, J.-P. (2018). When Rationality meets Passion: On the Financial Performance of Collectibles. Journal of Alternative Investments, 21(2), 66-83. https://doi.org/dig.v49.n1.3

Isakov, D., & Weisskopf, J.-P. (2017). Les dividendes exonérés d'impôts en Suisse. Expert Focus, 9, 35-39

Masset, P., Weisskopf, J.-P., Faye, B., & Le Fur, E. (2016). Red obsession: the ascent of red wine in China. Emerging Markets Review, 29, 200-225. https://doi.org/10.1016/j.ememar.2016.08.014

Masset, P., & Weisskopf, J.-P. (2016). A study of the performance of fine wine on the Swiss market. International Journal of Entrepreneurship and Small Business, 26(4), 566-582. https://doi.org/10.1504/IJESB.2016.079966

Isakov, D., & Weisskopf, J.-P. (2015). Pay-out policies in founding family firms. Journal of Corporate Finance, 33, 330-344. https://doi.org/10.1016/j.jcorpfin.2015.01.003

Masset, P., & Weisskopf, J.-P. (2015). Wine funds - an alternative turning sour? Journal of Alternative Investments, 17(4), 6-20. https://doi.org/10.3905/jai.2015.17.4.006

Masset, P., Weisskopf, J.-P., & Cossutta, M. (2015). Wine tasters, ratings and en primeur prices. Journal of Wine Economics, 10 (1), 75-107. https://doi.org/10.1017/jwe.2015.1

Isakov, D., & Weisskopf, J.-P. (2014). Are founding families special blockholders? An investigation of controlling shareholder influence on firm performance. Journal of Banking & Finance, 41, 1-16. https://doi.org/10.1016/j.jbankfin.2013.12.012

Isakov, D., & Weisskopf, J.-P. (2014). La politique de dividende des entreprises familiales. L'Expert-comptable suisse, 9, 56-60.

Masset, P., & Weisskopf, J.-P. (2014). Le placement dans le vin: à consommer avec modération. L'Expert-comptable suisse, 9, 24-28

Isakov, D., & Weisskopf, J.-P. (2013). Les familles fondatrices sont-elles des actionnaires spéciaux? Influence d'un actionnariat concentré sur la performance des entreprises suisses. L'Expert-comptable suisse, (3).

Événements EHL

Jean-Philippe Weisskopf

Dr Jean-Philippe Weisskopf

Publications académiques de Jean-Philippe Weisskopf