In the literature, circular economy (CE) and corporate social responsibility (CSR) are increasingly interconnected concepts. Turon at al. (2016) consider CE the guidelines of conduct for designing and developing good CSR strategies. In particular, the corporate management philosophy needs to be translated into mandatory CSR reports that better frames circular economy objectives by identifying and communicating actions to achieve sustainable development goals. The purpose of this paper is to explore a number of CSR reports in order to understand if cosmetic multinationals’ (MNC) nonfinancial reporting is focused on the concept of circular economy and if CSR reports ensure an adequate level of disclosure to circular strategies. Moreover, the paper highlights the advantages that arise by converging the concepts of CSR and CE. The originality of this paper lies on providing evidence on “how” MNC are implementing a circular model. This paper contributes to our understanding on the relation between CSR and CE; it assesses the state of the art of circular strategies in MNC and proposes a consolidation of the concept of CE in terms of sustainable strategic and managerial practices communicated to the market by CSR reports. Moreover, it brings MNC to a better understanding of the ways to communicate their new circular business model. The analysis reveals a good level of attention by MNC to circularity in drafting their CSR reports that in many cases are able to describe objectives and actions that embrace multiple dimensions.

Public private partnerships (PPPs) are a well-known instrument used worldwide by public administration (PA) to build public infrastructure using private knowhow and financial resources, and sharing risks. In recent years, PPPs have been widely adopted to develop energy efficiency projects between public and private sectors. In this context, a successful project requires a contractual arrangement based on energy performance contracting (EPC) that balances the interests of the two parties. This paper aims to answer two questions: how to share the benefits between the contractual parties and reach an optimal long-term contractual agreement; and which type of contract ensures a consistent risk transfer to the private partner, allowing the PA an “off balance” accounting treatment. The research questions are answered through the development of a mathematical equation able to calculate the optimal percentage of benefits sharing between partners in a long-term contractual agreement. The results are tested with a simulation based on a case study about the energy efficiency project of an Italian hospital. The paper is innovative because it provides suggestions to improve the EPC-PPP contractual structure and realize a balanced agreement between the public and private partners. Moreover, it analyzes the different allocation of risks in EPC contracts to identify the implication for the PA in terms of on-off balance accounting treatment in energy efficiency investment. We show how a successful long-term EPC-PPP can benefit from a mixed contractual structure in which profit-sharing percentage changes during the contract’s life to ensure the same net present value (NPV) to both public and private partners. This paper supports public decision making in order to choose contracts that are able to transfer energy and management risks. Moreover, it helps to understand the balance between public and private interests in a long-term EPC-PPP contract.

This article addresses the relationship between Public-Private Partnerships (PPP) and the sustainability of public spending in smart hospitals. Smart (technological) hospitals represent long-termed investments where public and private players interact with banking institutions and eventually patients, to satisfy a core welfare need. Characteristics of smart hospitals are critically examined, together with private actors’ involvement and flexible forms of remuneration. Technology-driven smart hospitals are so complicated that they may require sophisticated PPP. Public players lack innovative skills, whereas private actors seek additional compensation for their non-routine efforts and higher risk. PPP represents a feasible framework, especially if linked to Project Financing (PF) investment patterns. Whereas the social impact of healthcare investments seems evident, their financial coverage raises growing concern in a capital rationing context where shrinking public resources must cope with the growing needs of chronic elder patients. Results-Based Financing (RBF) is a pay-by-result methodology that softens traditional PPP criticalities as availability payment sustainability or risk transfer compensation. Waste of public money can consequently be reduced, and private bankability improved. In this study, we examine why and how advanced Information Technology (IT) solutions implemented in “Smart Hospitals” should produce a positive social impact by increasing at the same time health sustainability and quality of care. Patient-centered smart hospitals realized through PPP schemes, reshape traditional healthcare supply chains with savings and efficiency gains that improve timeliness and execution of care.

This paper explores innovative governance models in the healthcare sector. Patients are a key albeit under-investigated stakeholder and smart technologies applied to public healthcare represent a trendy innovation that reshapes the value-driving proposition. This study contributes to the best practice improvement in this sector, showing how health governance can balance the interests of conflicting stakeholders (patients, staff, politicians, private providers, banks, suppliers, etc.) when technology-driven (smart) investments are realized. Characteristics of smart hospitals are critically examined, and governance solutions are considered, together with private actors’ involvement and flexible forms of remuneration. Smart hospitals are so complicated that they may require sophisticated Public-Private Partnerships (PPP). Public players lack innovative skills, whereas private actors seek additional remuneration for their non-routine efforts and higher risk. PPP represents a feasible governance framework, especially if linked to Project Financing (PF) investment patterns. Results-Based Financing (RBF) softens traditional PPP criticalities as availability payment sustainability or risk transfer compensation. Waste of public money can consequently be reduced, and private bankability improved. Patient-centered smart hospitals reshape traditional healthcare governance, with savings and efficiency gains that meliorate timeliness and execution of cares. Transformation of in-patients to out-patients and then home-patients represents, whenever possible, a mighty goal.

The study focuses on SMEs which decide to develope inter-firm cooperation through”network contracts”, the purpose is to evaluate the usefulness of this new legal instrument provided by Italian law in 2010. In particular the paper aims to verify the ability of a “contract” to formalize an inter-firm relationship allowing a successful cooperation between SMEs. Moreover it identifies and analyzes the characteristics of networks based on this flexible contract, looking for the reasons why it should ensure, to the involved firms, an increased performance. After a preliminary secondary data review, conducted on 3300 firms (which signed network contracts between 2010 and 2012) aimed at identify the sectorial, territorial and dimensional peculiarity of this networks; the phenomenon is investigated through 5 case studies looking for field evidence, on the advantages perceived by firms signing network contract, by identifying the elements of the contract able to support successful networks. Moreover, a first attempt to measure the effect of contract networks on performance is realized through a descriptive statistical analysis of the Return on Investment (ROI) on a sample of 122 network firms. The study main findings are the identifications of the reasons of effectiveness of network contracts and the advantages potentially achieved by network firms because of the contract. The study allows the identification of recommendation about industrial policy regarding SMEs, mainly suggesting Governments to incentive the participation of SMEs to networks by introducing network contracts.

Renewable Energy Communities (RECs) represent a key instrument for enabling decentralized energy systems and enhancing local renewable energy utilization. Preliminary assessment of REC performance relies on simulation tools that differ in computational complexity, assumptions, and input data. Despite the growing literature, a systematic comparison of tools applied to identical community configurations is still missing. This study provides a systematic cross-comparison of four tools representing different modelling paradigms: a VBA-based prefeasibility model (MERCm), a MATLAB-based detailed framework (UNIPGm), a national open-access simulator (RECON), and a commercial platform (COMMm). The tools were applied to six residential configurations in three Italian provinces representing different solar irradiation levels. Scenarios are defined to ensure high energy sharing potential, considering a ratio of shared energy to energy fed into the grid above 60%. Key performance indicators, including physical self-consumption and shared energy, are analyzed. Results show broadly consistent trends across tools, although these findings refer to PV-only, residential RECs and may differ in more complex community configurations, with coefficients of variation below 15% for most relevant indicators, particularly shared energy, while confirming that differences in input data and modelling assumptions can still influence outcomes. These findings support the reliability of simplified simulation tools for preliminary REC feasibility assessments and provide guidance for policymakers and technical operators.