Becoming a benefit company in Italy: a firm-level investigation

Carlo Bellavite Pellegrini; Raul Caruso; Marco Di Domizio

doi:10.1080/13504851.2023.2176432

Becoming a benefit company in Italy: a firm-level investigation

Carlo Bellavite Pellegrini, Raul Caruso^*, Marco Di Domizio

^*Corresponding author

University of Teramo

Research output: Contribution to journal › Article

Abstract

This paper investigates the correlates of transformation of firms into a Benefit Company (BC) which is a hybrid form of business, introduced in Italy in 2016. We exploit a firm-level analysis based on a dataset of 748 firms, of which 185 have been transformed in BC between 2009 and 2019. The empirical analysis highlights that the probability of converting an existing firm into a BC is associated with prior performance. In particular, it is: (i) positively associated with profitability; (ii) negatively associated with indebtedness. In addition, it appears to be (iii) positively associated with longevity of the firm and (iv) positively associated with the size of the firm.

Original language	English
Pages (from-to)	1-4
Number of pages	4
Journal	Applied Economics Letters
DOIs	https://doi.org/10.1080/13504851.2023.2176432
Publication status	Published - 2023

Keywords

Benefit company
common good
dual purpose
stakeholder economy

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10.1080/13504851.2023.2176432

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abstract = "This paper investigates the correlates of transformation of firms into a Benefit Company (BC) which is a hybrid form of business, introduced in Italy in 2016. We exploit a firm-level analysis based on a dataset of 748 firms, of which 185 have been transformed in BC between 2009 and 2019. The empirical analysis highlights that the probability of converting an existing firm into a BC is associated with prior performance. In particular, it is: (i) positively associated with profitability; (ii) negatively associated with indebtedness. In addition, it appears to be (iii) positively associated with longevity of the firm and (iv) positively associated with the size of the firm.",

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AU - Bellavite Pellegrini, Carlo

AU - Caruso, Raul

AU - Di Domizio, Marco

PY - 2023

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N2 - This paper investigates the correlates of transformation of firms into a Benefit Company (BC) which is a hybrid form of business, introduced in Italy in 2016. We exploit a firm-level analysis based on a dataset of 748 firms, of which 185 have been transformed in BC between 2009 and 2019. The empirical analysis highlights that the probability of converting an existing firm into a BC is associated with prior performance. In particular, it is: (i) positively associated with profitability; (ii) negatively associated with indebtedness. In addition, it appears to be (iii) positively associated with longevity of the firm and (iv) positively associated with the size of the firm.

AB - This paper investigates the correlates of transformation of firms into a Benefit Company (BC) which is a hybrid form of business, introduced in Italy in 2016. We exploit a firm-level analysis based on a dataset of 748 firms, of which 185 have been transformed in BC between 2009 and 2019. The empirical analysis highlights that the probability of converting an existing firm into a BC is associated with prior performance. In particular, it is: (i) positively associated with profitability; (ii) negatively associated with indebtedness. In addition, it appears to be (iii) positively associated with longevity of the firm and (iv) positively associated with the size of the firm.

KW - Benefit company

KW - common good

KW - dual purpose

KW - stakeholder economy

KW - Benefit company

KW - common good

KW - dual purpose

KW - stakeholder economy

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SN - 1350-4851

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EP - 4

JO - Applied Economics Letters

JF - Applied Economics Letters

ER -

Becoming a benefit company in Italy: a firm-level investigation

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Keywords

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