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This chapter focuses on critical case studies involving SIBs—launched to address poverty (also in advanced economies) and socio-economic inequality issues—with the aims of understanding (1) the links and gaps between the contests and the structures of different SIB models and the ways to achieve their goals and (2) the key elements for scaling up these practices. Our analysis examines the main implications for research and practice by providing a framework for an ecosystem in which SIBs are developed. The work contributes to the international debate and introduces interesting stimuli for developing SIBs in the post-COVID-19 era, especially in some European Union countries, such as Italy, that are characterized by high rates of unemployment and poverty.
Annarita Trotta; Rosella Carè; Rossana Caridà; Maria Cristina Migliazza. Fighting Poverty and Inequalities Through Social Impact Bonds: Learning from Case Studies to Support the Covid-19 Response. Palgrave Studies in Impact Finance 2021, 37 -89.
AMA StyleAnnarita Trotta, Rosella Carè, Rossana Caridà, Maria Cristina Migliazza. Fighting Poverty and Inequalities Through Social Impact Bonds: Learning from Case Studies to Support the Covid-19 Response. Palgrave Studies in Impact Finance. 2021; ():37-89.
Chicago/Turabian StyleAnnarita Trotta; Rosella Carè; Rossana Caridà; Maria Cristina Migliazza. 2021. "Fighting Poverty and Inequalities Through Social Impact Bonds: Learning from Case Studies to Support the Covid-19 Response." Palgrave Studies in Impact Finance , no. : 37-89.
In the last year, COVID-19 has tested both advanced and developing economies. Within such a context, the global learning crisis is expected to increase due to difficulties in accessing technology or in receiving learning support. Such a huge need, globally identified with the Sustainable Development Goal number 4 (hereafter SDG 4), implies the need for large-scale solutions from governments around the world, especially in terms of dedicated financial resources. In this context, the impact-investing sector offers an innovative financial tool, i.e., impact bonds (IBs), which are widely applied in the education sector, even if their limitations and potentials remain unexplored in academia. Based on these considerations, our work explores whether and how IBs can contribute to funding and improving educational outcomes, with a focus on their potentials in the post-COVID world. This study adopts a qualitative approach by performing a case study analysis of four IBs. Our pilot analysis is based on the following key dimensions: (i) partnerships and contractual arrangements; (ii) financial terms; and (iii) measurement and impact. The results offer interesting insights by deriving a preliminary model on the role of IBs in the post-COVID-19 world.
Abdellah Kabli; Alessandro Rizzello; Annarita Trotta. Roadmapping New Impact Bonds in a Post-COVID World: Insights from Case Studies in the Education Sector. Sustainability 2021, 13, 4121 .
AMA StyleAbdellah Kabli, Alessandro Rizzello, Annarita Trotta. Roadmapping New Impact Bonds in a Post-COVID World: Insights from Case Studies in the Education Sector. Sustainability. 2021; 13 (8):4121.
Chicago/Turabian StyleAbdellah Kabli; Alessandro Rizzello; Annarita Trotta. 2021. "Roadmapping New Impact Bonds in a Post-COVID World: Insights from Case Studies in the Education Sector." Sustainability 13, no. 8: 4121.
Several scholars have recently devoted significant effort to deepening our knowledge about the green banking approach and its implications for sustainability. Moreover, a growing number of banks have been going green worldwide, and therefore there is a need to explore green banking practices. Starting from these considerations, this chapter investigates a number of ways in which Italian banking is going green. To this end, the work aims to (1) conduct a review of the literature on this issue; (2) provide an overview of the main regulations and policies for green banks; and (3) present some of the main initiatives adopted by two major Italian banks. The study offers useful insights for those concerned with current Italian green banking approaches by adding knowledge to the international debate.
Giuseppina Procopio; Annarita Trotta; Eugenia Strano; Antonia Patrizia Iannuzzi. Green Banking in Italy: Current and Future Challenges. Palgrave Studies in Impact Finance 2020, 205 -258.
AMA StyleGiuseppina Procopio, Annarita Trotta, Eugenia Strano, Antonia Patrizia Iannuzzi. Green Banking in Italy: Current and Future Challenges. Palgrave Studies in Impact Finance. 2020; ():205-258.
Chicago/Turabian StyleGiuseppina Procopio; Annarita Trotta; Eugenia Strano; Antonia Patrizia Iannuzzi. 2020. "Green Banking in Italy: Current and Future Challenges." Palgrave Studies in Impact Finance , no. : 205-258.
In the last years, Social Impact Bonds (SIBs) have gained popularity in the impact investing space. A number of scholars and practitioners are debating—in theory and practice—the opportunities, challenges and obstacles of these financial models. Amongst others, social uncertainty evaluation metrics appear as a critical factor for the future development of the SIB market. The present work aims to shed some light on this issue, by realizing a practical application of a model—which is an extension of a framework previously proposed—for social uncertainty evaluation in SIBs. In our exploratory analysis, 34 SIBs were selected for the empirical tests. We combined the Analytic Hierarchical Process (AHP) with the creation of aggregate measure, deriving by suitable indicators at the end of the tree. Our findings open new avenues for future research in the field of uncertainty factors in the SIB landscape. Finally, our results represent a basis for implementing a prediction model for social uncertainty evaluation.
Francesco Rania; Annarita Trotta; Rosella Carè; Maria Cristina Migliazza; Abdellah Kabli. Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application. Sustainability 2020, 12, 3854 .
AMA StyleFrancesco Rania, Annarita Trotta, Rosella Carè, Maria Cristina Migliazza, Abdellah Kabli. Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application. Sustainability. 2020; 12 (9):3854.
Chicago/Turabian StyleFrancesco Rania; Annarita Trotta; Rosella Carè; Maria Cristina Migliazza; Abdellah Kabli. 2020. "Social Uncertainty Evaluation of Social Impact Bonds: A Model and Practical Application." Sustainability 12, no. 9: 3854.
Business models for sustainability (BMfS) are relevant topics on research agendas, given their orientation toward sustainability issues. However, traditional versions of these models are often ill-equipped at solving complex social problems. Cross-sector partnerships for sustainability (CSPfS) have been recognized as a new paradigm that mitigates the failure of traditional models. Impact investing, and social impact bonds (SIBs) in particular, represent an interesting field of research in innovative business models for sustainable finance, even though the literature does not consider SIBs within this broader field. We propose an exploratory study based on qualitative methods aimed at conceptualizing SIBs within the framework of BMfS and understanding how SIB collaboration varies across social sectors and geographical areas. Our study identifies three different models of SIBs characterized by the different degrees of collaboration between actors: (i) SIB as a fully collaborative partnership; (ii) SIB as a low-collaborative partnership; and (iii) SIB as a partially collaborative partnership. Our findings are useful to policy makers and practitioners involved in the SIB design, suggesting that a fully collaborative SIB model may stand a better chance of achieving the expected social impacts.
Mario La Torre; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. Business Models for Sustainable Finance: The Case Study of Social Impact Bonds. Sustainability 2019, 11, 1887 .
AMA StyleMario La Torre, Annarita Trotta, Helen Chiappini, Alessandro Rizzello. Business Models for Sustainable Finance: The Case Study of Social Impact Bonds. Sustainability. 2019; 11 (7):1887.
Chicago/Turabian StyleMario La Torre; Annarita Trotta; Helen Chiappini; Alessandro Rizzello. 2019. "Business Models for Sustainable Finance: The Case Study of Social Impact Bonds." Sustainability 11, no. 7: 1887.
In recent decades, governments worldwide have begun to extend the use of Payment by Results (PbR) contracts. PbR contracts create a new type of partnership between investors, governments and service providers that engages them in a new way through complex outcome-based financial arrangements. In Italy, the diffusion of such instruments is limited by market and by legal barriers. Based on these considerations, our work aims to present an overview of the literature on PbR models, with Social Impact Bonds (SIBs) as the main subject, and to perform an explorative analysis of multiple case studies (focusing on innovative SIBs in healthcare) of such schemes. The study contributes to the international debate by offering several insights and implications for scholars, practitioners and policy makers. In addition, it aims to help clarify—from a law and economic perspective—the opportunities and obstacles related to the development of PbR instruments in the Italian context.
Alessandro Rizzello; Rossana Caridà; Annarita Trotta; Giuseppe Ferraro; Rosella Carè. The Use of Payment by Results in Healthcare: A Review and Proposal. Social Impact Investing Beyond the SIB 2018, 69 -113.
AMA StyleAlessandro Rizzello, Rossana Caridà, Annarita Trotta, Giuseppe Ferraro, Rosella Carè. The Use of Payment by Results in Healthcare: A Review and Proposal. Social Impact Investing Beyond the SIB. 2018; ():69-113.
Chicago/Turabian StyleAlessandro Rizzello; Rossana Caridà; Annarita Trotta; Giuseppe Ferraro; Rosella Carè. 2018. "The Use of Payment by Results in Healthcare: A Review and Proposal." Social Impact Investing Beyond the SIB , no. : 69-113.
In recent years, many cities have experienced new forms of collaboration that have an impact on citizens and entrepreneurs. The integration of this field of study with civic crowdfunding can influence economic growth and community building, which may be beneficial for both policymakers and practitioners alike. Civic crowdfunding is a financial model through which citizens, in collaboration with government and local authorities, fund projects to provide a community service. The development of smart cities is related to civic engagement, empowerment, and participation intended to be part of crowdsourcing or entrepreneurial activities. In this sense, cities play a vital role as drivers of (open) innovation and entrepreneurship. Based on these considerations, this study proposes an explorative and qualitative approach to investigate the civic crowdfunding phenomenon and its ability to promote community development. Our exploratory analysis of six projects highlights the challenges and opportunities of civic crowdfunding for the creation, development, and improvement of more inclusive cities.
Stella Carè; Annarita Trotta; Rosella Carè; Alessandro Rizzello. Crowdfunding for the development of smart cities. Business Horizons 2018, 61, 501 -509.
AMA StyleStella Carè, Annarita Trotta, Rosella Carè, Alessandro Rizzello. Crowdfunding for the development of smart cities. Business Horizons. 2018; 61 (4):501-509.
Chicago/Turabian StyleStella Carè; Annarita Trotta; Rosella Carè; Alessandro Rizzello. 2018. "Crowdfunding for the development of smart cities." Business Horizons 61, no. 4: 501-509.
Alternative finance represents a small but interesting field of research. Concepts such as “alternative financing instruments”, alternative financing channels and “alternative forms of finance” can be found in the recent literature with increasing frequency. Despite all this attention and activities in this field, extant knowledge is fragmented, and various deficiencies exist. Moving from these considerations, the main aims of this chapter are (i) to explore the domain of “alternative finance”; (ii) to map and to assess the intellectual territory of this research field; (iii) to provide a critical analysis of the current state of the art in this new finance approach through the analysis of the ontological, epistemological and methodological issues posed in academia and (iv) to identify and discuss the main emerging streams of research. This chapter also contributes to the ongoing debate on the role of alternative finance for a more sustainable financial system by exploring new concepts, instruments and dynamics of the alternative finance in the service of human welfare and dignity.
Rosella Carè; Annarita Trotta; Alessandro Rizzello. An Alternative Finance Approach for a More Sustainable Financial System. Designing a Sustainable Financial System 2018, 17 -63.
AMA StyleRosella Carè, Annarita Trotta, Alessandro Rizzello. An Alternative Finance Approach for a More Sustainable Financial System. Designing a Sustainable Financial System. 2018; ():17-63.
Chicago/Turabian StyleRosella Carè; Annarita Trotta; Alessandro Rizzello. 2018. "An Alternative Finance Approach for a More Sustainable Financial System." Designing a Sustainable Financial System , no. : 17-63.
The relationships between sustainable behavior, firm reputation, and economic performance are significant issues that continue to become more important. Corporate reputation has important implications for economic performance while corporate social responsibility engagement is considered a key determinant of reputation. The aim of this study is to empirically test such relationships regarding the banking sector and for the sub-prime crisis period (2008–2012). We apply our hypothesis to 75 large international banks using Reputation Institute and ASSET4 data and adopting a multiple econometric approach. Our initial results are encouraging and consistent with the existing literature: bank reputation is positively related to accounting performance and is negatively related to leverage and riskiness profiles. However, while a positive relationship between reputation and social performance exists, relationships between reputation, corporate governance, and environmental performance are always negative. We discuss these results by identifying related causes and by presenting avenues for future research. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment
Stefano Dell'atti; Annarita Trotta; Antonia Patrizia Iannuzzi; Federica DeMaria. Corporate Social Responsibility Engagement as a Determinant of Bank Reputation: An Empirical Analysis. Corporate Social Responsibility and Environmental Management 2017, 24, 589 -605.
AMA StyleStefano Dell'atti, Annarita Trotta, Antonia Patrizia Iannuzzi, Federica DeMaria. Corporate Social Responsibility Engagement as a Determinant of Bank Reputation: An Empirical Analysis. Corporate Social Responsibility and Environmental Management. 2017; 24 (6):589-605.
Chicago/Turabian StyleStefano Dell'atti; Annarita Trotta; Antonia Patrizia Iannuzzi; Federica DeMaria. 2017. "Corporate Social Responsibility Engagement as a Determinant of Bank Reputation: An Empirical Analysis." Corporate Social Responsibility and Environmental Management 24, no. 6: 589-605.
Moving on from a comparison of the analysed case studies, this chapter highlights the main findings and discusses the relevant phases of reputational crisis management for banks and provides helpful suggestions and advice to scholars and practitioners. In addition, the chapter focuses on the methods and tools that are beneficial in the various phases of a reputational crisis. Finally, useful guidelines for enhancing the effectiveness of banks’ reputation management are suggested.
Stefano Dell’Atti; Vincenzo Pacelli; Stefania Sylos Labini; Annarita Trotta. Managing Reputation: Reflections and Operational Suggestions. Managing Reputation in The Banking Industry 2016, 165 -187.
AMA StyleStefano Dell’Atti, Vincenzo Pacelli, Stefania Sylos Labini, Annarita Trotta. Managing Reputation: Reflections and Operational Suggestions. Managing Reputation in The Banking Industry. 2016; ():165-187.
Chicago/Turabian StyleStefano Dell’Atti; Vincenzo Pacelli; Stefania Sylos Labini; Annarita Trotta. 2016. "Managing Reputation: Reflections and Operational Suggestions." Managing Reputation in The Banking Industry , no. : 165-187.
The chapter introduces the relevance of reputation for the survival of banks. It discusses the state-of-the-art cornerstones regarding reputation, reputational risk and reputational crisis in the banking industry. The main concepts related to banks’ reputations and reputational damage are explored in depth, focusing on reputational risk management and regulatory approaches for reputational risk. Based on these investigations, an original model for the analysis of banks’ reputations and reputational crises, enriched by several variables of reputational alarm, is proposed.
Annarita Trotta; Antonia Patrizia Iannuzzi; Vincenzo Pacelli. Reputation, Reputational Risk and Reputational Crisis in the Banking Industry: State of the Art and Concepts for Improvements. Managing Reputation in The Banking Industry 2016, 3 -32.
AMA StyleAnnarita Trotta, Antonia Patrizia Iannuzzi, Vincenzo Pacelli. Reputation, Reputational Risk and Reputational Crisis in the Banking Industry: State of the Art and Concepts for Improvements. Managing Reputation in The Banking Industry. 2016; ():3-32.
Chicago/Turabian StyleAnnarita Trotta; Antonia Patrizia Iannuzzi; Vincenzo Pacelli. 2016. "Reputation, Reputational Risk and Reputational Crisis in the Banking Industry: State of the Art and Concepts for Improvements." Managing Reputation in The Banking Industry , no. : 3-32.
International audienceThis paper explores the performance dimensions of Italian teaching hospitals (THs) by considering the multiple constituent model approach, using measures that are subjective and based on individual ideals and preferences. Our research replicates a study of a French TH and deepens it by adjusting it to the context of an Italian TH. The purposes of this research were as follows: to identify emerging views on the performance of teaching hospitals and to analyze how these views vary among hospital stakeholders. We conducted an in-depth case study of a TH using a quantitative survey method. The survey uses a questionnaire based on Parsons' social system action theory, which embraces the major models of organizational performance and covers three groups of internal stakeholders: physicians, caregivers and administrative staff. The questionnaires were distributed between April and September 2011. The results confirm that hospital performance is multifaceted and includes the dimensions of efficiency, effectiveness and quality of care, as well as organizational and human features. There is a high degree of consensus among all observed stakeholder groups about these values, and a shared view of performance is emerging. Our research provides useful information for defining management priorities to improve the performance of THs
Marianna Mauro; Emma Cardamone; Giusy Cavallaro; Etienne Minvielle; Francesco Rania; Claude Sicotte; Annarita Trotta. Teaching hospital performance: Towards a community of shared values? Social Science & Medicine 2014, 101, 107 -112.
AMA StyleMarianna Mauro, Emma Cardamone, Giusy Cavallaro, Etienne Minvielle, Francesco Rania, Claude Sicotte, Annarita Trotta. Teaching hospital performance: Towards a community of shared values? Social Science & Medicine. 2014; 101 ():107-112.
Chicago/Turabian StyleMarianna Mauro; Emma Cardamone; Giusy Cavallaro; Etienne Minvielle; Francesco Rania; Claude Sicotte; Annarita Trotta. 2014. "Teaching hospital performance: Towards a community of shared values?" Social Science & Medicine 101, no. : 107-112.
This paper explores the performance dimensions of Italian teaching hospitals (THs) by considering the multiple constituent model approach, using measures that are subjective and based on individual ideals and preferences. Our research replicates a study of a French TH and deepens it by adjusting it to the context of an Italian TH. The purposes of this research were as follows: to identify emerging views on the performance of teaching hospitals and to analyze how these views vary among hospital stakeholders. We conducted an in-depth case study of a TH using a quantitative survey method. The survey uses a questionnaire based on Parsons' social system action theory, which embraces the major models of organizational performance and covers three groups of internal stakeholders: physicians, caregivers and administrative staff. The questionnaires were distributed between April and September 2011. The results confirm that hospital performance is multifaceted and includes the dimensions of efficiency, effectiveness and quality of care, as well as organizational and human features. There is a high degree of consensus among all observed stakeholder groups about these values, and a shared view of performance is emerging. Our research provides useful information for defining management priorities to improve the performance of THs.
Marianna Mauro; Emma Cardamone; Giusy Cavallaro; Étienne Minvielle; Francesco Rania; Claude Sicotte; Annarita Trotta. Teaching hospital performance: Towards a community of shared values? 2013, 1 .
AMA StyleMarianna Mauro, Emma Cardamone, Giusy Cavallaro, Étienne Minvielle, Francesco Rania, Claude Sicotte, Annarita Trotta. Teaching hospital performance: Towards a community of shared values? . 2013; ():1.
Chicago/Turabian StyleMarianna Mauro; Emma Cardamone; Giusy Cavallaro; Étienne Minvielle; Francesco Rania; Claude Sicotte; Annarita Trotta. 2013. "Teaching hospital performance: Towards a community of shared values?" , no. : 1.
Teaching hospitals (THs) simultaneously serve three different roles: offering medical treatment, teaching future doctors and promoting research. The international literature recognises such organisations as 'peaks of excellence' and highlights their economic function in the health system. In addition, the literature describes the urgent need to manage the complex dynamics and inefficiency issues that threaten the survival of teaching hospitals worldwide. In this context, traditional performance measurement systems that focus only on accounting and financial measures appear to be inadequate. Given that THs are highly specific and complex, a multidimensional system of performance measurement, such as the Balanced Scorecard (BSC), may be more appropriate because of the multitude of stakeholders, each of whom seek a specific type of accountability. The aim of the paper was twofold: (i) to review the literature on the BSC and its applications in teaching hospitals and (ii) to propose a scorecard framework that is suitable for assessing the performance of THs and serving as a guide for scholars and practitioners. In addition, this research will contribute to the ongoing debate on performance evaluation systems by suggesting a revised BSC framework and proposing specific performance indicators for THs.
Annarita Trotta; Emma Cardamone; Giusy Cavallaro; Marianna Mauro. Applying the Balanced Scorecard approach in teaching hospitals: a literature review and conceptual framework. The International Journal of Health Planning and Management 2012, 28, 181 -201.
AMA StyleAnnarita Trotta, Emma Cardamone, Giusy Cavallaro, Marianna Mauro. Applying the Balanced Scorecard approach in teaching hospitals: a literature review and conceptual framework. The International Journal of Health Planning and Management. 2012; 28 (2):181-201.
Chicago/Turabian StyleAnnarita Trotta; Emma Cardamone; Giusy Cavallaro; Marianna Mauro. 2012. "Applying the Balanced Scorecard approach in teaching hospitals: a literature review and conceptual framework." The International Journal of Health Planning and Management 28, no. 2: 181-201.
As the world economy becomes more globalised, the internationalisation processes of small and medium-size enterprises (SMEs) and family firms have received incr
Annarita Trotta; Marianna Mauro; Emma Cardamone; Giusy Cavallaro. The Development Trend of Entrepreneurship in the Globalising Economy: Evidence from Southern Italy. SSRN Electronic Journal 2012, 1 .
AMA StyleAnnarita Trotta, Marianna Mauro, Emma Cardamone, Giusy Cavallaro. The Development Trend of Entrepreneurship in the Globalising Economy: Evidence from Southern Italy. SSRN Electronic Journal. 2012; ():1.
Chicago/Turabian StyleAnnarita Trotta; Marianna Mauro; Emma Cardamone; Giusy Cavallaro. 2012. "The Development Trend of Entrepreneurship in the Globalising Economy: Evidence from Southern Italy." SSRN Electronic Journal , no. : 1.