In striving to adopt sustainable business model innovations, Benefit Corporations (BCorps) have gained attention, as they allow to combine purpose with profit maximization. Against this backdrop, and given the highly dynamicity of economic scenarios, this study aims to explore the relationship between sustainability and financial performance in Italian Benefit Corporations (BCorps). Using a sample of 239 Italian BCorps and employing a two-stage selection approach, findings reveal that firms with better sustainability performance achieve superior financial results, by also unveiling the existence of a selection effect in pursuing BCorp certification.
Are sustainable firms more profitable? Preliminary evidence from BCorps
Alessandra Costa
;Antonio Crupi;Tindara Abbate
2024-01-01
Abstract
In striving to adopt sustainable business model innovations, Benefit Corporations (BCorps) have gained attention, as they allow to combine purpose with profit maximization. Against this backdrop, and given the highly dynamicity of economic scenarios, this study aims to explore the relationship between sustainability and financial performance in Italian Benefit Corporations (BCorps). Using a sample of 239 Italian BCorps and employing a two-stage selection approach, findings reveal that firms with better sustainability performance achieve superior financial results, by also unveiling the existence of a selection effect in pursuing BCorp certification.Pubblicazioni consigliate
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.