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Can public–private research favor sustainable economic growth? Can innovation in terms of predictive maintenance (a recently consolidated evolution compared to the more traditional final and preventive maintenance) favor sustainable business balance? Drawing on the Quadruple Helix model and adopting the users’ (fourth helix) perspective, this paper seeks to provide initial answers to these two questions. Following an exploratory approach, it applies case study methodology to present the research outcomes of the D.I.A.S.E.I. Project, a co-financed research and development (R&D) project. Using a mixed-methods approach, narrative and quantitative, the study highlights that investing in predictive maintenance allows companies to reach better profitability ratios and sustainable value indexes. This is possible because of the improved quality of the provided services, higher revenues and the reduction of extraordinary maintenance costs. Furthermore, if companies support investment in predictive maintenance through correct financial decisions, they may create value over time and favor sustainable business balance. The work is the first empirical investigation, which should encourage further explorations. There are numerous implications, including reference to the co-creation of value, the effects on decision support systems and sustainable competitive advantage.
Francesco Polese; Carmen Gallucci; Luca Carrubbo; Rosalia Santulli. Predictive Maintenance as a Driver for Corporate Sustainability: Evidence from a Public-Private Co-Financed R&D Project. Sustainability 2021, 13, 5884 .
AMA StyleFrancesco Polese, Carmen Gallucci, Luca Carrubbo, Rosalia Santulli. Predictive Maintenance as a Driver for Corporate Sustainability: Evidence from a Public-Private Co-Financed R&D Project. Sustainability. 2021; 13 (11):5884.
Chicago/Turabian StyleFrancesco Polese; Carmen Gallucci; Luca Carrubbo; Rosalia Santulli. 2021. "Predictive Maintenance as a Driver for Corporate Sustainability: Evidence from a Public-Private Co-Financed R&D Project." Sustainability 13, no. 11: 5884.
This chapter suggests including family firms among the leading investors of the social finance market. Although social finance literature has largely overlooked them, we argue that large family firms possess the financial (e.g., profitability, capital structure, liquidity) and non-financial (e.g., continuity, community, connections, and command) characteristics allowing them to generate meaningful societal impact. To support our view, we examined 46 U.S. family foundations and 478 social finance transactions taking place from 2002 to 2019. This pilot study indicates that family firms, through their family foundations, are already playing a significant role in the social finance arena by providing social entrepreneurs with equity and debt capital as well as grants.
Carmen Gallucci; Rosalia Santulli; Riccardo Tipaldi. Family Firms as Prominent Investment Organizations of Social Finance: An Empirical Analysis of U.S. Family Foundations. Palgrave Studies in Impact Finance 2021, 167 -189.
AMA StyleCarmen Gallucci, Rosalia Santulli, Riccardo Tipaldi. Family Firms as Prominent Investment Organizations of Social Finance: An Empirical Analysis of U.S. Family Foundations. Palgrave Studies in Impact Finance. 2021; ():167-189.
Chicago/Turabian StyleCarmen Gallucci; Rosalia Santulli; Riccardo Tipaldi. 2021. "Family Firms as Prominent Investment Organizations of Social Finance: An Empirical Analysis of U.S. Family Foundations." Palgrave Studies in Impact Finance , no. : 167-189.
Social impact investments represent a cultural revolution, as they offer the opportunity to pursue financial and social goals simultaneously. However, Social impact investing market configurations are not evolving equally across national contexts. Therefore, in different contexts, different actors may play the pivotal role to make social impact investments more attractive. The present work, by looking at the Italian context, applies a qualitative methodology to study Foundations of Banking Origin (FBOs). This is a specific category of foundation which is bound by law to work and expand the charity sector. It emerges that the role of these entities, inside the philanthropy system, should develop from “impact facilitators” to “impact generators” in promoting social initiatives. Furthermore, the work sustains the importance of introducing a social impact rating system as a formalized methodology to select and finance the worthiest social project. In this perspective, the definition of a clear social rating philosophy and its correct application in the rating system design and use is a necessary condition to increase the solidity of a social impact assessment model.
Antonio Minguzzi; Michele Modina; Carmen Gallucci. Foundations of Banking Origin and Social Rating Philosophy—A New Proposal for an Evaluation System. Sustainability 2019, 11, 3518 .
AMA StyleAntonio Minguzzi, Michele Modina, Carmen Gallucci. Foundations of Banking Origin and Social Rating Philosophy—A New Proposal for an Evaluation System. Sustainability. 2019; 11 (13):3518.
Chicago/Turabian StyleAntonio Minguzzi; Michele Modina; Carmen Gallucci. 2019. "Foundations of Banking Origin and Social Rating Philosophy—A New Proposal for an Evaluation System." Sustainability 11, no. 13: 3518.
This study aims to configure an innovative financial structure for social impact investments. Framing on the Theory of Change, we apply an exploratory analysis to the Meridonare case study, a donation/reward crowdfunding platform led by the Banco di Napoli Foundation and engaging in philanthropy in the social sector. Over the years, the platform has changed the Foundation’s resource allocation procedures through the adoption of an “impact model” evaluation process. Accordingly, for each financing request, Meridonare defines a social evaluation report allowing the Foundation to establish which projects are worthy of additional funds as rewards. However, in its current state, the Meridonare crowdfunding platform lacks the investing perspective, thus we propose an innovative instrument of Social Finance: the Social Bond Crowdfunding based (SBCb), arising from the “pay-for-performance” rewarding mechanism. Therefore, the role of the Foundation shifts from impact facilitator to impact generator.
Carmen Gallucci; Michele Modina; Antonio Minguzzi. The Evolution of a Social Service Crowdfunding Platform Towards an Investing Logic: The Meridonare Case Study. Social Impact Investing Beyond the SIB 2018, 141 -175.
AMA StyleCarmen Gallucci, Michele Modina, Antonio Minguzzi. The Evolution of a Social Service Crowdfunding Platform Towards an Investing Logic: The Meridonare Case Study. Social Impact Investing Beyond the SIB. 2018; ():141-175.
Chicago/Turabian StyleCarmen Gallucci; Michele Modina; Antonio Minguzzi. 2018. "The Evolution of a Social Service Crowdfunding Platform Towards an Investing Logic: The Meridonare Case Study." Social Impact Investing Beyond the SIB , no. : 141-175.
The present paper aims at investigating what affects the credit granting beyond banks’capitalization. It focuses on public and private firms’ information available for the banks. We apply moderating regression models on panel data. Our sample is of 123 co-operative credit banks and more than 11,000 firms operating in Italy between 2012 and 2014, for 18,143 observations. Our main findings suggest that firms’ profitability (public information) positively moderates the direct relationship between banks’ capitalization and credit grants; differently, multiple banking, overdue payment and credit limit violation days (private information) negatively moderate the above-cited relationship. Finally, the conjoint moderating effect of public and private information proves to be negative, thus also firms with a good profitability are penalized in credit grant whether they do not take care the relationship with banks.
Carmen Gallucci; Vincenzo Formisano; Michele Modina; Rosalia Santulli. Beyond Banks’ Capitalization: What Affects the Credit Lines? International Journal of Financial Research 2017, 8, 71 .
AMA StyleCarmen Gallucci, Vincenzo Formisano, Michele Modina, Rosalia Santulli. Beyond Banks’ Capitalization: What Affects the Credit Lines? International Journal of Financial Research. 2017; 8 (4):71.
Chicago/Turabian StyleCarmen Gallucci; Vincenzo Formisano; Michele Modina; Rosalia Santulli. 2017. "Beyond Banks’ Capitalization: What Affects the Credit Lines?" International Journal of Financial Research 8, no. 4: 71.