Becoming a benefit company in Italy: a firm-level investigation

Carlo Bellavite Pellegrini, Raul Caruso () and Marco Di Domizio

Applied Economics Letters, 2024, vol. 31, issue 12, 1096-1099

Abstract: This paper investigates the correlates of transformation of firms into a Benefit Company (BC) which is a hybrid form of business, introduced in Italy in 2016. We exploit a firm-level analysis based on a dataset of 748 firms, of which 185 have been transformed in BC between 2009 and 2019. The empirical analysis highlights that the probability of converting an existing firm into a BC is associated with prior performance. In particular, it is: (i) positively associated with profitability; (ii) negatively associated with indebtedness. In addition, it appears to be (iii) positively associated with longevity of the firm and (iv) positively associated with the size of the firm.

Date: 2024
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DOI: 10.1080/13504851.2023.2176432

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