Maiolini, Riccardo
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Institutional profile
Professor Maiolini’s activities in the entrepreneurial Italian ecosystems are various: he participated in the organization of international startup programs (in partnership with the Italian embassy of Israel and the Italian embassy of the USA) and was one of the promoters of the first startup barcamp at the New York Stock Exchange in 2014 (UsaCamp project). During the UsaCamp roadshow, Professor Maiolini received an award from the George Washington University and the “International Council for Small Business (ICSB)” for his dedication to foster social innovation in Italy. Professor Maiolini also teaches in the Center for Professional and Continuing Education at John Cabot (introduction to business plan; business planning).
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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 Opportunity Recognition and Innovative Solutions to Societal Challenges: The Case of Community Cooperatives in Italy(Springer Nature, 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 Clud Deal : definizione, storia ed evoluzione(McGrawHill, 2024) Maiolini, RiccardoPublication 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 Crowdfunding for sustainability: How environmental activism moderates support for B2B and B2C campaigns(Elsevier, 2024) Maiolini, Riccardo; Nasta, LuigiThis study explores the influence of customer investors' perceptions on their willingness to invest in sustainable crowdfunding campaigns. Specifically, it examines whether emphasizing a product's direct impact on consumers (B2C) or its broader industrial impact (B2B) affects investment decisions. Using a between-subjects experiment with 304 participants, the research investigates how environmental sustainability activism moderates investment behavior. The study found that higher levels of environmental activism decrease support for B2C campaigns compared to B2B campaigns. These results suggest that sustainability-focused backers prefer projects due to perceived greater systemic impact.Publication Digital Technologies for Social Innovation: An Empirical Recognition on the New Enablers(2016) Maiolini, Riccardo; Marra, Alessandro; Baldassarri, Cristiano; Carlei, VittorioEven though scholars' attention has been placed on Social Innovation (SI), little evidence has been provided with regards to which tools are actually used to address social needs and foster Social Innovation initiatives. The purpose of the article is twofold. Firstly, the article offers empirical recognition to SI by investigating, on a large-scale, social and innovative activities conducted by start-ups and small and medium-sized enterprises (SMEs) across the world between 2001 and 2014. Secondly, the article intends to capture SI core businesses and underlying complementarities between products, markets, and technologies and show in which way digital media and IT are essentially tracing innovation trajectories over a multitude of industries, leading the current industrial patterns of SI, and continually fostering its cross-industry nature.Publication What do we really mean by “purpose-driven businesses”?(2025) Cucino, Valentina; Feola, Rosangela; Ferlito, Rosaria; Maiolini, Riccardo; Michelini, Laura; Mongelli, Luca; Pavlovic, Andjela; Piccaluga, Andrea; Rullani, Francesco; Tafuro, Martina; Vesci, MassimilianoFrame of the research: The concept of Purpose-driven Businesses (PDBs) has emerged as a response to pressing global challenges, including climate change, social inequality, and biodiversity loss, which call for a fundamental rethinking of the role of businesses in addressing societal and environmental needs. While the term has gained significant traction, its precise meaning remains ambiguous, often overlapping with existing constructs in management literature, such as Corporate Social Responsibility and Shared Value Creation. This study operates at the intersection of these theoretical perspectives, aiming to provide a structured analytical framework for understanding how PDBs incorporate social and environmental values into their strategies and balance the diverse expectations of stakeholders. Purpose of the paper: This paper is the end product of an extended conversation and debate between a number of business management scholars with a particular interest in the concept of Purpose. This concept has been increasingly used to characterise businesses which do not only have a conventional commercial purpose but also a social one. Despite the popularity of the term, the precise meaning of “purpose” remains somewhat unclear, especially when compared to the wide set of constructs which have already been used in business management literature to refer to similar types of business. A deeper analysis of the differences and similarities with other related concepts is thus needed. This paper summarizes the results of this discussion and provides a detailed definition of PDBs. Methodology: This paper is the result of an open debate on the concept of Purpose, which began with a series of face-to-face and online discussions between management scholars with an interest in this area. Firstly, the group of scholars who participated identified the existing literature on purpose-driven businesses. Next, the theoretical approaches that were most closely aligned with this concept were identified and each one of them was assigned to the person with the most expertise in that area so that they could examine it in more detail for the purposes of this article. Finally, an agreed definition of PDBs was produced. Findings: This paper sets out the differences between PDBs and other similar concepts. Further, we provide a list of characteristics that PDBs must have, may have, and cannot have. Research limitations: This article discusses theoretical approaches and is the result of collaboration between a number of scholars who specialize in the field. Our theoretical findings may suggest a way forward for future empirical studies. Practical implications: This paper provides a more nuanced and comprehensive understanding of what is meant by PDBs, with practical implications for managers working at both day-to-day and strategic levels. Originality of the paper: This analysis was the result of a process of discussion between scholars working in the area of PDBs. The checklist of the elements that characterise PDBs is intended to be a useful point of reference for scholars and professionals working in this field.Publication The purpose-driven crowdfunding and the growing potential of microlending(2025) Maiolini, Riccardo; Tedeschi, Caterina; Rullani, FrancescoFrame of the research: Crowdfunding has emerged as a transformative fintech solution, significantly changing the financing of new projects. Among the various forms of crowdfunding, purpose-driven platforms like Kiva transcend traditional financial transactions by emphasizing social and economic empowerment. Despite its potential, there remains a gap in understanding how borrowers’ narratives influence lenders’ decisions, particularly in contexts where social motivations are paramount. This research aims to bridge this gap by analyzing the narratives used by borrowers to describe their projects on the Kiva platform. Purpose of the paper: This study seeks to explore and classify the different types of narratives employed by borrowers on Kiva to attract funding. By doing so, it aims to uncover the socio-economic impacts of these loans and the role of crowdfunding as a driver for social and economic empowerment. The research focuses on linking the intrinsic motivations of lenders and the narratives presented by borrowers. Method: This study employs a topic modeling approach to analyze a dataset of Kiva- funded projects, focusing on borrowers’ narratives. The methodology includes data cleaning, visualization, and topic modeling using Latent Dirichlet Allocation (LDA) applied to text from the “use” and “description” sections of Kiva projects’ pages from 2005 to 2021. Results: Our analysis uncovered eight distinct loan narratives, each associated with various types of entrepreneurial projects. These narratives range from agricultural advancements to educational pursuits, highlighting the diverse aspirations of borrowers. This diversity not only demonstrates the broad spectrum of entrepreneurial projects supported by crowdfunding, but also emphasizes the nature of these loans in meeting the specific needs and goals of individuals across different regions and sectors. Limits: Our study’s scope is limited to data from the Kiva platform, affecting the extent of our conclusions. Future research should expand to include multiple crowdfunding sources to enhance the diversity and applicability of findings. Practical implications: By comprehending the diverse entrepreneurial initiatives facilitated by Kiva loans, stakeholders can customize financial products and support services to better align with the requirements of borrowers. This insight is crucial for enhancing the efficacy of microfinance in fostering economic development and empowering underserved communities. Originality of the paper: Through the identification of specific borrowers’ narratives, this research contributes to the broader discourse on financial inclusion, economic empowerment, and the role of crowdfunding in facilitating access to capital for underserved communities. This study not only provides a deeper understanding of the narratives that drive purpose-driven crowdfunding but also highlights the importance of aligning financial support with the socio- economic goals of borrowers to foster sustainable development and inclusive growth.