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Article
Publication date: 17 December 2019

Lorenzo Ardito, Francesco Galati, Antonio Messeni Petruzzelli and Antonio Corvino

The purpose of this paper is to assess the influence of the presence in foreign markets on small- and medium-sized enterprises’ (SMEs) financial performance. Furthermore, it seeks…

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Abstract

Purpose

The purpose of this paper is to assess the influence of the presence in foreign markets on small- and medium-sized enterprises’ (SMEs) financial performance. Furthermore, it seeks to examine the moderating effect of corporate group and alliance portfolio size on this relationship.

Design/methodology/approach

First, the authors develop hypotheses concerning the relationship between the presence in foreign markets and SMEs’ financial performance as well as the moderating role of the size of an SME’s corporate group and alliance portfolio. Afterward, the authors used ordinary least square regression to the test the hypotheses based on a sample of 5,885 high-tech US SMEs registered in the Orbis database (Bureau van Dijk).

Findings

Results of the study reveal that the presence in foreign markets is positively associated with an SME’s financial performance, with the size of the corporate group enhancing this relationship, hence confirming the conjectures. Instead, the size of the alliance portfolio appears to not exert any moderating effect, in contrast with the last hypothesis.

Originality/value

Form a theoretical perspective, the authors dig into the literature assessing the performance outcomes of SMEs and contingent effects of the possibility to tap into external resources of other firms. By so doing, the findings support a specific stream of the literature in claiming the positive effects deriving from being part of a corporate group. Conversely, the findings seem to go in the opposite direction of the majority of the literature that claim a positive impact of alliances on financial performances, while supporting those studies stressing that alliances pose significant challenges for SMEs and should be carefully identified and managed.

Details

Business Process Management Journal, vol. 26 no. 5
Type: Research Article
ISSN: 1463-7154

Keywords

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Article
Publication date: 11 February 2019

Federica Doni, Mikkel Larsen, Silvio Bianchi Martini and Antonio Corvino

The purpose of this paper is to investigate the engagement with integrated reporting (IR) of the Development Bank of Singapore (DBS), as one of the banks that pioneered IR…

1455

Abstract

Purpose

The purpose of this paper is to investigate the engagement with integrated reporting (IR) of the Development Bank of Singapore (DBS), as one of the banks that pioneered IR. Banking industry members face critical sector-specific issues regarding the use of capitals, especially the disclosure of relational and natural capital-related information, and reporting of the outcomes of capitals. This study examines an innovative approach to accounting for multiple capitals adopted by DBS during its journey toward IR.

Design/methodology/approach

This empirical research follows the case study method, using semi-structured interviews with DBS’s managers, and analyzing reports and other documentation.

Findings

The authors find that DBS re-conceptualizes, re-categorizes and measures multiple capitals as a form of non-financial value using the balance sheet approach to make visible the interactions and potential tensions (trade-offs) among capitals.

Research limitations/implications

Case studies are best used to understand a specific context, so the findings of this study cannot be generalized statistically. However, the study does provide insights into the banking industry that may be applicable to other organizations.

Practical implications

The categorization and reporting of multiple capitals using the balance sheet approach and the integration of the balanced scorecard are innovative operationalizations of the International <IR> Framework.

Originality/value

This study provides an innovative approach to the categorization and measurement of multiple capitals. It represents a step toward reducing the gap between research and practice on IR.

Details

Journal of Intellectual Capital, vol. 20 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Available. Open Access. Open Access
Article
Publication date: 1 September 2021

Federica Doni, Antonio Corvino and Silvio Bianchi Martini

Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal…

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Abstract

Purpose

Lately, sustainability issues are increasingly affecting all sectors, even if oil and gas industry is highly required to improve its social performance because of the societal pressure to environmental protection and social welfare. Sustainability concerns and corporate governance features and practices are more and more connected because sustainability has been perceived as a crucial topic by owners and managers. In this perspective, the empirical analysis aims to explore whether and to what extent, sustainability-oriented corporate governance model is linked with social performance.

Design/methodology/approach

By adopting a multi-theoretical framework that includes the legitimacy theory, the stakeholder theory and the resource-based view theory, this analysis used a sample of 42 large European-listed companies belonging to the oil and gas industry. The authors run fixed effects regression models by using a dependent variable, i.e. the social score, available in ASSET4 Thomson Reuters, and some independent variables focused on sustainable corporate governance models, stakeholder engagement, firm profitability, market value and corporate risk level.

Findings

Drawing upon the investigation of a moderating effect, findings display that stakeholder engagement is positively associated with corporate social performance and it can be considered an important internal driver able to shape a corporate culture and most likely to address corporate social responsibility issues.

Research limitations/implications

This study confirms the need to develop an organizational and holistic approach to corporate governance practices by analyzing internal and external governance mechanisms. From the managerial perspective, managers should opt for a sustainable corporate governance model, as it is positively correlated with corporate social performance.

Originality/value

There is an urgent need to investigate sustainability issues and their potential association with firm internal mechanisms, particularly in the oil and gas industry. This paper can extend the current body of knowledge by pointing out a positive relationship between stakeholder engagement and firm social performance.

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Article
Publication date: 27 November 2019

Federica Doni, Silvio Bianchi Martini, Antonio Corvino and Michela Mazzoni

The recent European Union Directive 95/2014 enforced a radical shift from voluntary to mandatory disclosure of non-financial information. Given radical changes in reporting…

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Abstract

Purpose

The recent European Union Directive 95/2014 enforced a radical shift from voluntary to mandatory disclosure of non-financial information. Given radical changes in reporting practices, there is an urgent need to assess the firms’ attitude to disclose non-financial information regarding the new requirement. This paper aims to investigate whether the quantity and quality of non-financial information, voluntarily disclosed in the years before the directive came into force, were linked to the level of compliance.

Design/methodology/approach

Selecting a sample of 60 Italian companies from the obliged entities, the authors carried out a manual content analysis on corporate reports and developed some research hypotheses to explore if their sustainability practices can affect non-financial disclosures required by the Italian adoption of the European directive (i.e. Legislative Decree 254/2016).

Findings

Evidence showed that prior skills and competencies in non-financial reporting made a significant contribution especially regarding to the presence of business model, but further efforts are expected to improve the quality of non-financial reports.

Practical implications

This study yields an initial assessment of the implementation of the European directive in Italy. It may, therefore, help policymakers to identify ways to improve the harmonization of reporting practices. Preparers can also be supported in choosing different positioning of reporting on non-financial information.

Originality/value

This research provides interesting insights into the ex ante and ex post adoption of the European directive by investigating how Italian companies are reacting to regulatory and institutional requirements. One of the main problems remains the lack of a shared understanding of the term “non-financial”, which can make the communication process difficult and unclear.

Details

Meditari Accountancy Research, vol. 28 no. 5
Type: Research Article
ISSN: 2049-372X

Keywords

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Article
Publication date: 1 October 2019

Antonio Corvino, Francesco Caputo, Marco Pironti, Federica Doni and Silvio Bianchi Martini

The purpose of this paper is to contribute to the ongoing debate regarding the relationship between relational capital (RC) and firm performance, by investigating the moderation…

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Abstract

Purpose

The purpose of this paper is to contribute to the ongoing debate regarding the relationship between relational capital (RC) and firm performance, by investigating the moderation effect of firm size and its key role in defining conditions for competitive advantage.

Design/methodology/approach

The paper uses the interpretative lens of the resource dependence theory, and refreshes consolidated studies rooted in RC. It identifies a set of variables to measure the influence of RC on firm performance, including the cost of goods sold, interest expenses and earnings per share. Content analysis was used to capture specific features of corporate disclosure tools using 51 items pertinent to RC. The authors used a specific disclosure index drawing on data collected from 73 listed firms in France, Germany, Italy and the UK. Data covering the period from 2011 to 2013 were analyzed using six regression models.

Findings

Firm size has a moderating effect on the relationship between RC and some variables linked to firm performance.

Originality/value

The study combines an internal and external perspective to investigate the interplay between firms and market environments, and therefore, enriches the ongoing debate concerning the relationship between RC and firm performance. It outlines possible ways through which RC can become an effective source of competitive advantage.

Details

Journal of Intellectual Capital, vol. 20 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

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Book part
Publication date: 23 December 2010

Antonio Corvino, Giulia Romano and Ettore Spadafora

The success of a firm is usually characterized by a constant re-thinking of its strategic model. Considerable entrepreneurial tension is involved in achieving competitive…

Abstract

The success of a firm is usually characterized by a constant re-thinking of its strategic model. Considerable entrepreneurial tension is involved in achieving competitive excellence, and the achievement of a right balance between the different elements that form a corporate strategy (e.g. economic perspective and social acceptability) (Coda, 1988).

Details

New Technology-Based Firms in the New Millennium
Type: Book
ISBN: 978-0-85724-374-4

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Article
Publication date: 11 April 2016

Silvio Bianchi Martini, Antonio Corvino, Federica Doni and Alessandra Rigolini

The purpose of this paper is to analyse the content of relational capital disclosure (RCD) information communicated by a sample of European listed companies. It also investigates…

2002

Abstract

Purpose

The purpose of this paper is to analyse the content of relational capital disclosure (RCD) information communicated by a sample of European listed companies. It also investigates the links between RCD and certain corporate financial performance indicators.

Design/methodology/approach

This research did a cross-country analysis on a sample of 80 companies and a content analysis based on 51 items inherent to the relational capital (RC) framework of mandatory and voluntary reports. An RCD index has been used in certain bivariate and multivariate statistical analyses to investigate whether RCD is positively correlated to particular indicators adopted as proxies for measuring company performance.

Findings

The results show that RCD supports statistically significant relationships with revenues, net operating cash flow and capital expenditures. In contrast, there is no statistically significant association with enterprise value.

Research limitations/implications

This study evaluates the information disclosed in annual reports or other standalone reports, although companies might communicate such information using other information channels. The main caveat of this study is sample size; therefore, it could be insightful to extend this cross-country study.

Practical implications

The research could encourage preparers to improve the disclosure of specific items of RC and could offer useful suggestions to policymakers, for instance, to the European Commission, as it has recently announced new requirements for non-financial information reporting (Directive 2014/95/UE).

Originality/value

Given the crucial role of RC in company success and RCD’s importance for the decision-making process, this study provides interesting insights into the debate on RC reporting’s impacts on company performance.

Details

Journal of Intellectual Capital, vol. 17 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Available. Content available
Book part
Publication date: 23 December 2010

Abstract

Details

New Technology-Based Firms in the New Millennium
Type: Book
ISBN: 978-0-85724-374-4

Available. Content available
Book part
Publication date: 3 March 2025

Marika Intenza

Abstract

Details

Entrepreneurial Ecosystems in Theory and Practice
Type: Book
ISBN: 978-1-83662-613-8

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Article
Publication date: 16 August 2021

Tanzeela Aqif and Abdul Wahab

The increased awareness among consumers and strong competition have forced companies to put extra efforts and fulfill their social responsibility along with earning profits. The…

490

Abstract

Purpose

The increased awareness among consumers and strong competition have forced companies to put extra efforts and fulfill their social responsibility along with earning profits. The research aims to review corporate social responsibility (CSR)-related literature specifically determinants, outcomes and disclosure of CSR while adapting a comparative approach for developing and developed countries.

Design/methodology/approach

Based on theoretical frameworks of CSR, the authors have reviewed past studies conducted in past 10 years. While using keywords and synonyms, the databases such as JSTOR, Emerald, SpringerLink and ScienceDirect were used for searching impact factor and Scopus journals. Thematic analysis has been used as a method in the paper while identifying the key themes in study and presented them separately. Only those articles have been included which have key words in abstract. The review has been done while using logical process to improve inter-rater reliability. The key databased have been used to cover articles from multiple and diverse domains. The authors studied the key themes of literature found and identified the gaps. The paper has also incorporated the comments of authors who conducted credible studies.

Findings

It has been found that there are different determinants which lead the companies to involve in CSR practices in developing and developed countries. It has also been found that consumers are more aware about CSR in developed countries which effects the CSR decisions by firms. There is lack of literature available in developing states and researchers have been focused to conduct studies mainly developed countries such as in Europe and USA. Mostly the CSR behavior of companies has been linked with their financial and reputational benefits in empirical studies. There is large gap in literature on CSR involvement in small companies. The authors have developed and presented model which provides comparison of determinants leading toward CSR involvement by companies in developed and developing countries. Another framework has been developed which summarized all the factors which force the company to take part in CSR activities.

Practical implications

The study has made significant contribution toward research field and summarized the determinants based on social and economic factors of countries. The study also presented the comparison between CSR in developing and developed country which is valuable contribution by the authors. The study has also found lack of progress in theory development in this area which needs further attention by researchers. The authors have developed a model and framework which will contribute in field of CSR.

Originality/value

This is the review paper which provides integrated view of literature regarding determinants, outcomes and disclosure of CSR in developing countries while using a comparative approach.

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