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Publication Opportunity Recognition and Innovative Solutions to Societal Challenges: The Case of Community Cooperatives in Italy(SpringerLink, 2024) Maiolini, Riccardo; Ramus, TommasoIn this chapter, we present some preliminary, exploratory evidence concerning the peculiarities surrounding the recognition of entrepreneurial opportunities as encountered by community cooperatives, that is, entities established with the mission to create value for the community in which they operate and not for their members exclusively. Drawing from the experience of eight Italian community cooperatives, we offer initial empirical support to the argument that community embeddedness complicates the process of entrepreneurial opportunity recognition. Community cooperatives confront the challenge of accommodating the disparate needs of community members, while operating within a context of resource constraints. However, community embeddedness also favors the engagement of community members in more creative processes to identify more innovative solutions to empower communities. Our preliminary findings speak to the emergent research on community-based enterprises and to the broader stream investigating entrepreneurship. They also show how cooperatives can be a source of social innovation while anchoring themselves to their imprinting of human-centered organizations, established to ameliorate the conditions of marginalized people.Publication Organized Crime: Perspectives on Societal Challenges, Threats, and Crises(2024) Bhatt, Himanshu; Chae, Heewon; Maiolini, Riccardo; Omizzolo, MArco; Capo, Francesca; Operti, Elisa; Audia, Pino G.; Dagnino, Giovanni BattistaOrganized crime groups (OCGs) are important business and institutional actors in several locations around the world. In this symposium, we explore how the presence and activities of OCGs influence emerging societal challenges, threats, and crises. Our investigations use OCGs as a metaphor for pursuit of extreme profit motive and instrumental practices that contribute towards perpetuating social inequalities and exploitation. By digging deeper into the workings of organized crime groups, we develop theoretical and practical implications for what constitutes firms’ ethical and socially responsible behavior.Publication The impact of sustainable development goals in lending-based prosocial crowdfunding: A topic modeling analysis on the kiva platform(Elsevier, 2024) Maiolini, Riccardo; Cappa, Francesco; Franco, Stefano; Quaratino, Giovanni RaimondoIn lending-based prosocial crowdfunding, where campaigns are specifically focused on entrepreneurial proposals that address significant social and environmental challenges, it is still not clear what factors are more likely to favor a campaign's success. The literature recognizes that project descriptions constitute a major source of information for funders and can influence their choice of whether to lend financial resources. Given the nature of lending-based prosocial crowdfunding, we focus on the presence of different sustainable development goal (SDG) themes in project descriptions, identified through topic modeling analysis, and we measure their impact on the success of a campaign. Using data collected from the Kiva platform, we show that some SDG themes have a negative effect, while others have a positive impact on the success of a campaign. The outcomes of this research contribute to overall scientific understanding of the phenomenon and provide useful insights for entrepreneurs and policymakers to increase the success of their campaigns and further spread lending-based prosocial crowdfunding.Publication Just the right push! Social Media as a Therapeutical Catalyst: The Impact of Influencers’ Motivational (vs. Neutral) Communication on Healthy Consumption(2024) Sestino, Andrea; Nasta, Luigi; Bernando, Alessandro; Giannattasio, AlessandroSocial media influencers (SMIs) today play a pivotal role in shaping consumer behaviors: This influential capacity presents a unique opportunity to channel efforts towards promoting conscious consumption patterns, exemplified by choices that prioritize health and well-being. Coherently, literature delved into the exploration of how influencers' “way to do”, could significantly impact consumer consumption behaviors. Through a preliminary investigation and a main study based on an experiment conducted among a sample of 467 participants, this paper examines the effects of the SMIs motivational communication tone of voice (vs. neutral) on consumers' responses in terms of healthy consumption behaviors. Results demonstrate that the motivational tone of voice doesn't directly impact consumers' willingness to buy healthy food. However, it becomes significant due to the mediating role of connectedness with the influencer - hinging on consumers' sense of connection with their favorite SMIs. Notably, this effect is magnified for those with lower health consciousness levels, while it is not significant for those with higher health consciousness, indicating how such a motivational tone of voice may be perceived as annoying and disturbing. Implications for marketing and communication campaigns incentivizing healthy consumption are discussed.Publication Adapting to the digital wave: tour guides’ role perception and technological integration in the cultural ecosystem(2024) Marchegiani, Lucia; Nasta, Luigi; Pirolo, LucaThe COVID-19 pandemic has underscored the importance of digital technologies in the cultural heritage domain, particularly in the evolving landscape of the hospitality ecosystem. This ecosystem, prioritising personal interactions and improving life quality, demands a strategic change from cultural organisations to address the challenges of digitalisation and the shifting patterns of visitor engagement. Tour guides are central to this adaptation process since they play a pivotal role in the cultural sector. Thus, our research delves into how these guides perceive themselves and adapt to digital tools, impacting their ability to offer genuine cultural experiences. These experiences are fundamental in promoting sustainable tourism, reinforcing local identity, and nurturing community bonds. Our findings disclose a spectrum of different types of tour guides, each group characterised by distinct levels of digital skills and willingness to embrace technological change. Through this study, we aim to contribute to the theory of the digital cultural ecosystem by highlighting the significant role that culture and creativity play, supported by digital advancements, in formulating comprehensive and integrated strategies for cultural tourism management and the overall hospitality sector.Publication Corporate social performance and cost of debt: the relationship(Emerald Publishing, 2017) Magnanelli, Barbara Sveva; Izzo, Maria FedericaPurpose – This paper aims to investigate the link between corporate social performance (CSP) and cost of debt financing. Despite academic debate has focused on the link between corporate social responsibility (CSR) and CSP (expressed through accounting and market measures of profitability), few empirical researches have analysed the relations between CSR, cost of debt and its relation with the risk profile of a firm. The literature on the cost of debt determinants generally documents a negative association between measures of the risk of the firm and its cost of debt. The literature on CSR defines risk reduction as one of the potential benefits related to CSR activities. Thus, the expectation is that high CSP scores are inversely related to cost of debt. Design/methodology/approach – Using a unique data set of 332 firms over a time period of five years antecedent to the global financial crisis, a linear regression model is applied. Findings – The results show a positive relation between CSP and cost of debt, demonstrating that CSR is not a value driver with an impact on the firm’s risk profile. Practical implications – The research has also practical implications as it makes managers aware of the potentiality of CSP to reduce the firm’s cost of debt. Originality/value – These findings enlarge the empirical research on the value of CSP, expanding it towards a quite new area of investigation: the cost of external financing.Publication Marketing sustainable financial products to specific target segments: the case of the Italian market(2019) Signorini, Alessandro; Torosantucci, GaetanaOriginality of the study. Sustainability is generally classified as the balance between economic, social, and environmental factors in the decision making of an organization (Ralph and Strubbs, 2014). In order to fill the criteria of sustainability, the organizational decisions must constantly try to ensure economic stability and growth in the long term, strive to social equity, and preserve the natural environment for the future generations (UNESCO, 2011). This article focuses on one specific aspect of sustainability, sustainable banking, that can be defined as the attempt from commercial and investment banks to include sustainability and social responsibility factors in their operations. In particular, the emphasis is on the offer of banking and financial products and services that have social and environmental sustainable elements along with economic stability and profitability (Boitan, 2015). The inclusion of sustainable elements can be based on a voluntary and independent initiative that banks implement in order to better match the needs of their consumers. Alternatively, banks can adhere to established sustainability frameworks that offer guidelines on how banking and financial products can incorporate sustainable factors (Boitan, 2015). The three most common and well-known frameworks are the Equator Principles, the United Nations Global Compact, and the United Nations Environment Program Financial Initiative (http://www.equator-principles.com, www.unglobalcompact.org, www.unepfi.org).Publication Navigating Brand Purpose in the Post-Pandemic Era: Insights from Marketing Agencies on Supporting SDGs through Strategic Delineation and Execution(Emerald, 2024) Feri, Alessandro; Ind, Nicholas Jonathan; Tjandra, Nathalia ChristianiPurpose This study aims to investigate the role of marketing agencies in aligning brand purpose with the Sustainable Development Goals (SDGs) in the post-pandemic era. This study explores whether and how marketing agencies delineate and execute brand purpose in a way that supports sustainable consumption and marketing models. Design/methodology/approach Data were gathered from semi-structured interviews with 35 senior managers at UK-based marketing agencies. The interviews were recorded, transcribed and analysed using NVivo software for inductive coding. Findings The study reveals that brand purpose in the post-pandemic era is increasingly aligned with the SDGs. Marketing agencies play a pivotal role in this alignment, as they not only help to delineate and execute the brand purpose but also do so in a way that amplifies perceived authenticity in the eyes of the brand stakeholders. Originality/value This research underscores the significance of marketing agencies in delineating and executing brand purpose that aligns with the SDGs. It enriches the literature by illustrating how agency expertise contributes to the evolution of brand purpose, guiding businesses towards responsible marketing practices and consumption patterns that support a sustainable future.Publication Artificial Intelligence and Entrepreneurship(2024) Fossen, Frank M.; McLemore, Trevor; Sorgner, AlinaThis survey reviews emerging but fast-growing literature on impacts of artificial intelligence (AI) on entrepreneurship, providing a resource for researchers in entrepreneurship and neighboring disciplines. We begin with a review of definitions of AI and show that ambiguity and broadness of definitions adopted in empirical studies may result in obscured evidence on impacts of AI on en-trepreneurship. Against this background, we present and discuss existing theory and evidence on how AI technologies affect entrepreneurial opportunities and decision-making under uncertainty, the adoption of AI technologies by startups, entry barriers, and the performance of entrepreneurial businesses. We add an original empirical analysis of survey data from the German Socio-economic Panel revealing that entrepreneurs, particularly those with employees, are aware of and use AI technologies significantly more frequently than paid employees. Next, we discuss how AI may affect entrepreneurship indirectly through impacting local and sectoral labor markets. The reviewed evidence suggests that AI technologies that are designed to automate jobs are likely to result in a higher level of necessity entrepreneurship in a region, whereas AI technologies that transform jobs without necessarily displacing human workers increase the level of opportunity entrepreneurship. More generally, AI impacts regional entrepreneurship ecosystems (EE) in multiple ways by altering the importance of existing EE elements and processes, creating new ones, and potentially reducing the role of geography for entrepreneurship. Lastly, we address the question of how regulation of AI may affect the entrepreneurship landscape by focusing on the case of the European Union that has pioneered data protection and AI legislation. We conclude our survey by discussing implications for entrepreneurship research and policy.Publication Key Factors for Success of Social Enterprises in Italy: Analysis of Financial and Operating Performance(2016) Magnanelli, Barbara Sveva; Raoli, Elisa; Sacchi, AgneseAbstract: Assessing social performance is one of the greatest challenges for practitioners and researchers in social entrepreneurship. Even though social enterprises (SEs) have the main goal of achieving social purposes, they should also be able to economically and financially survive to meet their aim and accomplish their tasks. To this purpose, we investigate if the key factors leading to the financial and operating performance are the same as those of for-profit firms, by using Italian data at a firm level during the period 2002-2013. We find that the standard financial and operating factors characterising for-profit firms’ performance play a crucial role for SEs’ results as well. Moreover, territorial and socio-economic variables seem to have a positive impact on financial performance. From a policy perspective, this may imply that further programs (e.g. safety-oriented and those promoting facilities in the territory) should be locally adopted to support the SEs’ activity and development.Publication Does ESG Disclosure Influence Firm Performance?(2022) Carnini Pulino, Silvia; Ciaburri, Mirella; Magnanelli, Barbara Sveva; Nasta, LuigiThis study aims to analyze the impact of the environmental, social, and governance (ESG) disclosure on the firm performance, given the stakeholders’ increasing attention to the firm’s ESG practices. Looking at the European context, the Directive 2014/95/EU and its update encouraged European large companies to provide disclosure about their socially responsible practices. Acting within the Agency and Signaling theory frameworks, this paper focuses on the Italian situation where the Legislative Decree 254/2016 implemented the European Directive and forced the largest firms (those with more than 500 employees) to disclose comprehensive information about their social and environmental activities starting from 2017. By applying a panel regression analysis, using a sample of the largest Italian listed companies, and considering a time span of 10 years (from 2011 to 2020), this study finds that there is a positive relationship between environmental, social, and governance disclosure and firm performance, measured by EBIT. Our findings will help firms’ stakeholders, decision-makers, policymakers, as well as academics, to improve their awareness of the impact of ESG disclosure on the performance of the firm, both as a comprehensive factor and individually by pillar. The findings, which support the positive relationship between ESG disclosure and firm performance, should incentivize managers to invest in CSR practices.