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Certified Benefit Corporations as a new way to make sustainable business: The Italian example

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  • Patrizia Gazzola
  • Daniele Grechi
  • Paola Ossola
  • Enrica Pavione

Abstract

A Benefit Corporation is one possible alternative to traditional business models and a new way of managing business and sustainability. Emphasis on B‐Corporations in Italy dates back 2006, and 1 year later, B LAB certified the first Benefit Corporation Industry using the first version of the Benefit Impact Assessment process. Since then, the number of B‐Corporations has been growing, showing the success of the initiative of this category of firm that have voluntarily decided to pursue, like the profit, a further purpose: to obtain in the exercise of economic activity a positive impact on society and on the planet. After a presentation of the Benefit Corporation features, the main aim of this paper is to explore the relations that exists between the five different impact areas considered in certification awarded to Certified Benefit Corporation and the net profit value, using ordinary least squares regression model based on the entire sample of the Italian Certified enterprises.

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  • Patrizia Gazzola & Daniele Grechi & Paola Ossola & Enrica Pavione, 2019. "Certified Benefit Corporations as a new way to make sustainable business: The Italian example," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1435-1445, November.
    • Handle: RePEc:wly:corsem:v:26:y:2019:i:6:p:1435-1445
    DOI: 10.1002/csr.1758
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    9. Giorgio Mion & Cristian Rolando Loza Adaui & Angelo Bonfanti, 2021. "Characterizing the mission statements of benefit corporations: Empirical evidence from Italy," Business Strategy and the Environment, Wiley Blackwell, vol. 30(4), pages 2160-2172, May.
    10. Giorgia Nigri & Mara Del Baldo & Armando Agulini, 2020. "Governance and accountability models in Italian certified benefit corporations," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2368-2380, September.
    11. Patrizia Gazzola & Stefano Amelio & Daniele Grechi & Chiara Alleruzzo, 2022. "Culture and sustainable development: The role of merger and acquisition in Italian B Corps," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1546-1559, September.
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    14. Sciarelli Mauro & Cosimato Silvia & Landi Giovanni, 2020. "Benefit Corporations Approach to Environmental, Social and Governance Disclosure: A Focus on Italy," Entrepreneurship Research Journal, De Gruyter, vol. 10(4), pages 1-25, October.
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    16. Escudero, Stephanie B. & Jestratijevic, Iva & Short, Jeremy C. & Wolfe, Marcus T., 2023. "B Corp certification in the age of fast fashion: Using hierarchical clustering and correspondence factor analysis to highlight social entrepreneurial advancement in the fashion industry," Journal of Business Venturing Insights, Elsevier, vol. 20(C).
    17. Ronald Weber Kirst & Miriam Borchardt & Maurício Nunes Macedo de Carvalho & Giancarlo Medeiros Pereira, 2021. "Best of the world or better for the world? A systematic literature review on benefit corporations and certified B corporations contribution to sustainable development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1822-1839, November.
    18. Luis Fonseca & Vitor Silva & José Carlos Sá & Vanda Lima & Gilberto Santos & Rui Silva, 2022. "B Corp versus ISO 9001 and 14001 certifications: Aligned, or alternative paths, towards sustainable development?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(3), pages 496-508, May.
    19. Federica Bandini & Helen Chiappini & Francesca Pallara, 2022. "Fund managers acting as impact investors: Strategies, practices, and tensions," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 1084-1095, July.

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