Industrial strategies of growth must be backed by relevant financial structures; but the choice of these structures (level of debt and debt/equity ratio) is restricted by the more or less efficiency of the monitoring systems which can be used by funds providers. Evaluating the potential for value creation as well as understanding the yearly economic performance of wine-traders is dramatically complex in the world of Appellations d'Origine Contrôlée. This could explain why, because of credit rationing, a priori strategically relevant policies which need external funding don't rise up in France. This working assumption is tested through a comparative case study between two well known AOC regions: Burgundy and Champagne.
