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Prof. Christian Rainero
University of Turin (Italy)

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0 Sustainability
0 Blockchain
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Short Biography

Christian Rainero is an Associate Professor of business administration (SECS-P/07) at University of Turin.

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Journal article
Published: 30 July 2021 in Corporate Ownership and Control
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In capital markets, the investment decision-making process is vastly influenced by accounting information. This paper addresses equity investment valuation through market multiples and its consequences in investors’ financial statements under fair value accounting principles. After replicating the valuation process through the most used market multiples (price-to-forecasted earnings; market-to-book; enterprise-value-to-performance indicators), the authors analyze the distribution of the estimated-to-actual fair value ratio under the IFRS 13 perspective and the effects of a randomly selected portfolio on the balance sheet and income statement of the investor. The study’s primary findings are that the market multiples tend to produce consistent results in 7 (at least) to 20 (at best) out of 100 cases, and over or underestimate the fair value in all the remaining cases without any apparent or predictable reason. The results of the paper confirm what previous literature underlined by studies conducted on older data and with a different geographical scope (Kim & Ritter, 1999; Lie & Lie, 2002; Palea & Maino, 2013). The results and the literature suggest being particularly cautious in applying the market multiples valuation method for estimating the fair value of an equity investment, given the preference that accounting principles accord to the Level 2 market-comparable methods, which also seem to be the most used ones in practice

ACS Style

Alessandro Migliavacca; Christian Rainero; Vera Palea. Accounting for equity investments under IFRS 13: Are market multiple evaluations accurate? Corporate Ownership and Control 2021, 18, 152 -174.

AMA Style

Alessandro Migliavacca, Christian Rainero, Vera Palea. Accounting for equity investments under IFRS 13: Are market multiple evaluations accurate? Corporate Ownership and Control. 2021; 18 (4):152-174.

Chicago/Turabian Style

Alessandro Migliavacca; Christian Rainero; Vera Palea. 2021. "Accounting for equity investments under IFRS 13: Are market multiple evaluations accurate?" Corporate Ownership and Control 18, no. 4: 152-174.

Earlycite article
Published: 01 June 2021 in British Food Journal
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Purpose In the disruptive technologies era, the lack of convincing business cases on blockchain (BC) adoption about food supply chain, the existence of uncertainties and barriers to adoption due to knowledge scarcity on characteristics as well as the potentialities and risks involved in it, have triggered the need to investigate the first multinational BC adoption for food supply chain in Europe, to consider how it can guarantee knowledge for the consumption/purchase decision-making and the creation-mechanism of consciousness for sustainable behavioral choice. Design/methodology/approach The authors provide a field exploratory analysis based on customers' perceptions and real knowledge about BC (as a knowledge-constructive tool) in the food and beverage sector. This connected with the need for an informed context, favoring sustainable conscious decision-making related to both the food chain and innovation acceptance. This analysis included the use of innovation acceptance as a corporate social responsibility (CSR) strategic orientation through a survey- and interview-based field analysis (80 respondents). Findings The findings of this study can be considered as antecedents of innovation acceptance in the sector. The analysis assesses consumers' scarce knowledge and perceptions on the BC system, the scarce usage level and the higher acquiring propensity for traceable foodstuffs generating bi-directional/dimensional value, considering that consumption habits could change through security and certainty antecedents and induced knowledge provided by external technological intervention. Originality/value By trying to match innovation and the knowledge-construction need as a vehicle for acceptance, the theoretical contribution would empower the literature on food traceability from the perspective of strategic BC application through a from-knowledge-to-knowledge strategy.

ACS Style

Christian Rainero; Giuseppe Modarelli. Food tracking and blockchain-induced knowledge: a corporate social responsibility tool for sustainable decision-making. British Food Journal 2021, ahead-of-p, 1 .

AMA Style

Christian Rainero, Giuseppe Modarelli. Food tracking and blockchain-induced knowledge: a corporate social responsibility tool for sustainable decision-making. British Food Journal. 2021; ahead-of-p (ahead-of-p):1.

Chicago/Turabian Style

Christian Rainero; Giuseppe Modarelli. 2021. "Food tracking and blockchain-induced knowledge: a corporate social responsibility tool for sustainable decision-making." British Food Journal ahead-of-p, no. ahead-of-p: 1.

Earlycite article
Published: 12 May 2021 in Information Technology & People
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Purpose This work highlights the potential of blockchain from a public management (PM) angle. Given the limited presence of blockchain's broad-spectrum, empirical-applicative evidence in the public sector, as well as theoretical systematisations that can exemplify its potential within this scope, the authors have concentrated their efforts on structuring a referring model. Design/methodology/approach After identifying a gap and conducting a preliminary literature review related to public administration (PA), the authors propose a paradigm focused on a conceptual synthesis methodology, starting from a longitudinal analysis and a coding activity that are able to structure a clear framework of theoretical parallelism regarding blockchain's main functionalities, as well as future perspectives in the public sector. Findings The main results yielded a specific longitudinal literature review and constitute a referring model of blockchain's systematised functionalities through a conceptualised matrix. The outcome of the conceptualisation process frames and systematises a rapidly growing controversial phenomenon, furnishing a specific referring paradigm for the issue as it relates to policymakers. Originality/value The study's originality resides in the two views the authors created, both from the literature review and from the conceptual synthesis for public sector operative practice via an anthropocentric lens, conveyed by a three-year range of analysis.

ACS Style

Christian Rainero; Giuseppe Modarelli. Blockchain informative infrastructure: a conceptual reflection on public administrative procedures and a citizen-centred view. Information Technology & People 2021, 34, 1252 -1284.

AMA Style

Christian Rainero, Giuseppe Modarelli. Blockchain informative infrastructure: a conceptual reflection on public administrative procedures and a citizen-centred view. Information Technology & People. 2021; 34 (4):1252-1284.

Chicago/Turabian Style

Christian Rainero; Giuseppe Modarelli. 2021. "Blockchain informative infrastructure: a conceptual reflection on public administrative procedures and a citizen-centred view." Information Technology & People 34, no. 4: 1252-1284.

Journal article
Published: 22 December 2020 in Journal of Governance and Regulation
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The research aims to investigate the main areas of influence on work motivation and personal satisfaction in intensive emotional labour ambit: teaching profession. Once explained the concepts related to the process of negative influence on engagement, motivation, and poor performance effects, capable of attacking health (burnout), the authors decided to investigate the preponderant aspects of resilience to hostile and emotional labour-intensive work contexts. In this direction, the authors opted for field analysis, through the help of questionnaires on a vast cross-regional sample of professional teachers working in Italian public schools, on the other hand, it has been sampled the category of aspiring teachers (in literature observed as higher early stage motivated). It has been possible to attribute the role of activator of resilience to the ability to making-sense of the role and job carried out, resorting to the interpretative power of aphorisms, according to individual and institutional social responsibility. In this sense, teachers would demonstrate high resilience levels, validating the existence of a crucial power in making-sense against emotional labour intensity and hostile work environment, considering themselves however satisfied beyond the difficulties.

ACS Style

Christian Rainero; Giuseppe Modarelli. The concept of emotional labour within the boundaries of social responsibility. Journal of Governance and Regulation 2020, 9, 76 -93.

AMA Style

Christian Rainero, Giuseppe Modarelli. The concept of emotional labour within the boundaries of social responsibility. Journal of Governance and Regulation. 2020; 9 (4):76-93.

Chicago/Turabian Style

Christian Rainero; Giuseppe Modarelli. 2020. "The concept of emotional labour within the boundaries of social responsibility." Journal of Governance and Regulation 9, no. 4: 76-93.

Earlycite article
Published: 23 November 2020 in British Food Journal
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Purpose This paper aims at understanding whether firms conceive and use social media as disseminators, as well as amplifiers, of their results concerning sustainability and responsibility and whether this practice stimulates stakeholder engagement and participation, laying the foundation for a dialogue on corporate social responsibility. Design/methodology/approach This research analyses the theoretical background of communication related to sustainability and responsibility and the company–stakeholder dialogue in the food sector. An inductive interpretive approach is provided by conducting a qualitative content analysis related to the communication practices of the food company Ferrero (Italy) from June 2015 to September 2019. Findings Companies can use social channels to present their vision, values, approaches and choices related to sustainability and responsibility. Social media can become useful networks to reach stakeholders requiring and claiming for transparency about more and more relevant topics – allowing, at the same time, a two-way relationship and dialogue. Research limitations/implications The limitation of the paper is that it presents the observation of a single firm. Practical implications The managerial implications relate to the value created by a dialogical communication: this is a strong foundation for enhancing relationships capable of maintaining and increasing the company's reputation. The establishment of an interchange about sustainability and responsibility represents a new way to direct the company and its stakeholders towards mutual support in creating value. Originality/value This article contributes to enriching the debate on the degree of knowledge, understanding, response and reaction to social media–based corporate social responsibility (CSR) communication.

ACS Style

Damiano Cortese; Christian Rainero; Valter Cantino. Stakeholders’ social dialogue about responsibility and sustainability in the food sector. British Food Journal 2020, 123, 1287 -1301.

AMA Style

Damiano Cortese, Christian Rainero, Valter Cantino. Stakeholders’ social dialogue about responsibility and sustainability in the food sector. British Food Journal. 2020; 123 (3):1287-1301.

Chicago/Turabian Style

Damiano Cortese; Christian Rainero; Valter Cantino. 2020. "Stakeholders’ social dialogue about responsibility and sustainability in the food sector." British Food Journal 123, no. 3: 1287-1301.

Journal article
Published: 12 November 2020 in Corporate Ownership and Control
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During economic crises, sovereign states and central banks support the general economy and firms with a range of emergency measures, such as the allocation of subsidies to enterprises and citizens. The sudden availability of money without the need for any consideration by the recipient leads the way to inappropriate conduct known as moral hazards, such as diversion or improper use of the financial resources received. The moral hazard arises from the individual tendency to rational behavior when in the presence of information asymmetry, inadequate controls, or favorable contractual positions. To reduce moral hazard, and to preserve the intentionality of the states, information asymmetry must be reduced. Avoiding moral hazard is particularly important in cases such as the COVID-19 pandemic, but also during economic crises and other emergency situations. This paper conceptualizes a relevant topic for the economy and accounting fields of study because information tends to be naturally asymmetrical. Traditional accounting is limited by the fact that some accounting practices or techniques can be used to reduce the effect of the pandemics on the economic performance of organizations. In our study we propose a way to reduce the natural subjectivity in accounting and reporting, using blockchain and smart contracts technologies, as a solution to information asymmetry during crises (such as economic ones or pandemics)

ACS Style

Christian Rainero; Alessandro Migliavacca; Riccardo Coda. Accounting for pandemics and economic crises management: Moral hazard, blockchain, and smart-contracts. Corporate Ownership and Control 2020, 18, 301 -309.

AMA Style

Christian Rainero, Alessandro Migliavacca, Riccardo Coda. Accounting for pandemics and economic crises management: Moral hazard, blockchain, and smart-contracts. Corporate Ownership and Control. 2020; 18 (1, Special):301-309.

Chicago/Turabian Style

Christian Rainero; Alessandro Migliavacca; Riccardo Coda. 2020. "Accounting for pandemics and economic crises management: Moral hazard, blockchain, and smart-contracts." Corporate Ownership and Control 18, no. 1, Special: 301-309.

Journal article
Published: 17 September 2020 in Corporate Ownership and Control
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This work tries to highlight the determinant role of CSR during periods characterized by non-linearity and to produce insights for further research on a dual perspective: 1) companies’ decision-making on CSR implementation and promotional tool preference; 2) consumers’ purchasing/consuming decision-making. So, the interrelated perspective, under the influencing contextual variable of the recent COVID-19 pandemic, would show a crucial role of CSR as an anti-crisis solution. The domain-based review, the direct observation mixed with field analysis survey-based on a sample of 208 respondents made possible the hermeneutical and inference activity on results according to the Situational Crisis Communication Theory and Goffman’s view on the art of impression management, mixed with a persuasive approach characterizing advertising. The perception analysis, not directly operated ethnographically with companies, allowed to investigate CSR from different angles, permits the researchers to observe the exponential rise of advertising campaigns with a social scope and CSR promotional activities in accordance with the emergence of the two intrinsic concepts of accountability from an external point of view.

ACS Style

Christian Rainero; Giuseppe Modarelli. CSR for emergencies: The two concepts of accountability. Corporate Ownership and Control 2020, 18, 78 -95.

AMA Style

Christian Rainero, Giuseppe Modarelli. CSR for emergencies: The two concepts of accountability. Corporate Ownership and Control. 2020; 18 (1):78-95.

Chicago/Turabian Style

Christian Rainero; Giuseppe Modarelli. 2020. "CSR for emergencies: The two concepts of accountability." Corporate Ownership and Control 18, no. 1: 78-95.

Journal article
Published: 03 September 2020 in Sustainability
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The recent climate change, food scandals, pollution and work-related stress, are affecting life in big cities and tourism is suffering changes expanding its typical boundaries. The past decades were characterized by the tourism choice of exotic destinations; nowadays, a route inversion would be visible and remote and inner destinations are acquiring value and attractiveness. According to this perspective, administrators and event organizers are planning and structuring strategies ensuring memorable experiences for the tourists. In the sense of sustainable development, important aspects are cooperative approaches and capability to integrate traditions and expectations. The proposed research work focuses the attention on the analysis of 15 semi-structured interviews through SWOT (strengths, weaknesses, opportunities, and threats) and perception analysis on an event called “Dream of a night…to that town” provided by the Municipality of Colobraro, Basilicata Region (Italy). The proposition of the research would focus the attention on a case study able to form not a top-down/bottom-up, but a horizontal strategy, a sharable best practice for the whole tourism sector in rural areas that would make truly effective the State decentralization, in which the small communities’ activism configures crucial source of competitiveness. The case proposed, contrasting modern lifestyles and common tourism choice, would be able to redirect the concept of attractiveness in privileging remote places that could offer memorable tourism experiences. So, a promotional “tourismability” strategy, integrating agricultural connotates of the territory with heritage, traditions, myths and legends, through a synergistic community cooperative approach, would be necessary to constitute an identitary, attractive, memorable and immersive tourism experience in rural areas.

ACS Style

Christian Rainero; Giuseppe Modarelli. The Attractive Power of Rural Destinations and a Synergistic Community Cooperative Approach: A “Tourismability” Case. Sustainability 2020, 12, 7233 .

AMA Style

Christian Rainero, Giuseppe Modarelli. The Attractive Power of Rural Destinations and a Synergistic Community Cooperative Approach: A “Tourismability” Case. Sustainability. 2020; 12 (17):7233.

Chicago/Turabian Style

Christian Rainero; Giuseppe Modarelli. 2020. "The Attractive Power of Rural Destinations and a Synergistic Community Cooperative Approach: A “Tourismability” Case." Sustainability 12, no. 17: 7233.