Conference Agenda

In the face of increasing global challenges, companies are increasingly conscious that they must adapt their business practices from the more traditional approach of sustainability to the more prospective regenerative approach. This study contributes to the burgeoning topic of regenerative business models by filling multiple gaps. Prior to that, regenerative practices are highlighted for each industry, a qualitative-interpretive study based on case studies is conducted, and internal and external drivers that facilitate regenerative practices are highlighted. We conducted an extensive literature review on the topic and an empirical analysis based on multiple case studies to accomplish this. From the analysis, it emerges that the most relevant driver is leadership, which plays a central role in promoting practices on the various levels of employees. At the same time, a robust organizational culture ensures the seamless integration of these practices into business operations. Future research should analyze the barriers that prevent firms from approaching regenerative models; moreover, this study focuses on Italian B-corp firms and should be replicated in different global contexts.

La sostenibilidad medioambiental es un reto ampliamente reconocido en el negocio global del vino. Al iniciar prácticas de sostenibilidad medioambiental, las bodegas consideran su efecto en resultado, examinan y redistribuyen sus recursos, dentro de un marco institucional ligado al origen de su producto. Conocer el efecto en resultado y comprender los rasgos de empresa y territorio que impulsan o frenan la adopción de prácticas sostenibles son los objetivos de este estudio. Postulamos que, además de las características de la empresa, la localización de la bodega en un territorio identificado con indicativo geográfico de calidad es un factor influyente en su comportamiento. Con base en los rasgos de proximidad presentes en el territorio, las hipótesis del modelo se contrastan en una muestra de empresas obtenida de fuentes secundarias y con indicadores observables de comportamiento y efecto. Mediante técnicas diversas de análisis, confirmamos la relación positiva entre prácticas de sostenibilidad y resultado económico superior. Las características de la empresa influyen en la adopción de prácticas sostenibles y también lo hace el territorio, con diferencias notables según localización. Esta evidencia señala la necesidad de incluir en el análisis de la sostenibilidad el territorio, cuestión a la que contribuimos con esta investigación

The impending regulatory changes with the approval and transposition of the Greenwashing and Green Claims Directives by the European Parliament are already beginning to impact the accommodation market. Booking.com, which operated perhaps the most widely adopted recognition system, a form of eco-label, decided to discontinue it just a few months ago. This will not be the last change brought about by the new regulations in this sector. In light of this situation, it is pertinent to conduct a systematic review of the academic literature in this field to understand what we know and how we have come to know it. Using the Theories-Contexts-Methods and Antecedents-Decisions-Outcomes frameworks, we have created a knowledge map by analyzing 109 academic articles published in the last 22 years. Based on this analysis and reflection on the upcoming market changes, we have proposed a research agenda.

Objective: This study aims to explore the relationship between the B Corp certification and the effects on sales and profitability, namely return on assets (ROA) and return on equity (ROE).

Theoretical framework: Drawing on the signaling theory for the effects on sales, the research on the financial outcomes after being certified is still scarce and presents inconclusive results.

Methodology: for a sample of 2,293 firms, from multiple industries, B Corp information is linked to financial data (Orbis database). Fixed effects models are estimated.

Results: The B Corp certification is found to positively affect sales, increasing with the cumulative number of years that firms are certified. However, the certification has no impact on the profitability of the company. We argue that the effect on profitability may not be that direct, as firms need to learn how to allocate resources.

Contribution: This study helps to understand the impact that the B Corp certification has on the financial performance of EU firms. From a management perspective, it reinforces the need to translate the market positive impacts to the internal configuration of the firm, being able to obtain profitability gains.