Key Factors for Success of Social Enterprises in Italy: Analysis of Financial and Operating Performance
Journal Title: Review of Economics & Finance - Year 2016, Vol 6, Issue 1
Abstract
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.
Authors and Affiliations
Barbara Sveva Magnanelli, Elisa Raoli, Agnese Sacchi
Keywords
Related Articles
- EP ID EP259303
- DOI -
- Views 85
- Downloads 0
Financial Crisis Transmission: Foreign Ownership vs. Foreign Funding?
We investigate whether the credit contraction that followed the global financial crisis is due to high foreign bank ownership or high reliance of banks on foreign funding. We apply panel vector auto-regressions to quarte...
A “litmus test” of Deficit Sustainability: The Case of the Greek Budget Deficit
The paper applies three sustainability tests to the Greek budget deficit, which is known to be unsustainable, and can therefore be used to check the reliability of the three tests. Using three deficit definitions, i.e.,...
Distinguishing between Good and Bad Subprime Auto Loans Borrowers: The Role of Demographic, Region and Loan Characteristics
Research on subprime mortgages has recently been gaining momentum, but subprime auto loans have largely been ignored. By using a unique data set of a very large UK vehicle finance company, this study analyses secured loa...
The Development of the Net Present Value (NPV) Rule – Religious Prohibitions and Its Evolution
This paper describes the development of the net present value (NPV) rule. Today, net present value is a globally accepted methodology for investment appraisal in companies. Compared to other management techniques, net pr...
Portfolio Optimization Using Multivariate t-Copulas with Conditionally Skewed Margins
Over the last few decades, copulas have consistently gained significance in finance research, due to their usefulness in risk modeling. However, the idea of implicitly representing dependencies between multiple assets in...