Forthcoming articles


World Review of Entrepreneurship, Management and Sustainable Development


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World Review of Entrepreneurship, Management and Sustainable Development (50 papers in press)


Regular Issues


  • A Mixed Methods Bibliometric Investigation of the World Review of Entrepreneurship, Management and Sustainable Development: from qualitative to quantitative data   Order a copy of this article
    by Giacomo Marzi, Riccardo Rialti, Marina Dabić, Andrea Caputo 
    Abstract: This article offers a complete overview of the World Review of Entrepreneurship, Management and Sustainable Development (WREMSD) from 2005 to 2015. The article employs an innovative mixed method, based on a bibliometric analysis of the Journal and an in-depth interview with the editor Prof. Leo Paul Dana about the journal, his academic and personal life. By using SCOPUS data, the analysis maps the knowledge produced and disseminated by the journal revealing the most cited papers and most prolific authors. By also presenting a keywords correlation analysis, the paper shows the main streams of research covered by the Journal and their evolution. Although the objective of mapping the knowledge in WREMSD this paper offers an example of application of a mixed method to bibliometric studies, methodological implications are discussed.
    Keywords: Bibliometric; Scientometric; Keywords; Mixed Methods; Qualitative; Quantitative; Keywords Clustering; Journal Impact; Journal Knowledge Structure; Management; Entrepreneurship; Interview; Scopus.

  • Uscio e Bottega: An Exploratory Study on Conflict Management and Negotiation During Family Business Succession in Tuscany   Order a copy of this article
    by Andrea Caputo, VIncenzo Zarone 
    Abstract: This paper aims to explore how conflicts are managed, also through negotiations, during the succession phase in family businesses. The paper adopts a qualitative methodology and develops case studies of two companies, based on the interviews of the family business members belonging to multiple generations. The findings are interpreted with the dual concern model for the conflict management styles and the 2-class model for the prototype of negotiators. The results of the study show an evolutionary path regarding the conflict management style adopted by the incumbent generation, which is influenced by the role taken in the company and the historical moment. The favourite negotiators prototype of the incumbent generations is the emotional one. The study, although exploratory, investigates a topic that is under researched both in terms of family business literature and conflict management literature. Moreover, the study offers an interesting and important bridge of the two bodies of literature, which could benefit from cross-fertilisation.
    Keywords: Conflict; Family Business; Succession; Italy; Negotiation; Case study.

  • Literature Review of Emerging Trends and Future Directions of E-Commerce in Global Business Landscape   Order a copy of this article
    by Sandeep Goyal, Bruno Sergi, Mark Esposito 
    Abstract: The global business landscape is undergoing a dynamic transformation due to the increasing penetration of internet and communication technologies. This article reviews the e-commerce literature to understand the emerging trends and future directions, which are shaping the competitive trends in the global business landscape. The article focuses on the following research dimensions e-commerce definition; underlying research themes; theoretical models and frameworks used to understand e-commerce adoption; and key challenges faced by the e-commerce providers. The first contribution involves elaborating the broad perspectives and statistical overview of the selected articles including the publications summary, research themes, methodology, and locations. The second contribution involves presenting an integrated view of e-commerce definitions across five dimensions information, technology, buy-sell transactions, monetary transactions and competition. The third contribution involves highlighting the theoretical models being used to study patterns of consumer behavior. The fourth contribution lies in identifying the key challenges faced by the e-commerce organizations.
    Keywords: e-commerce; internet; literature review; e-commerce challenges; e-commerce definition.

  • Sustainable leadership and entrepreneurship for corporate sustainability in small enterprises: An empirical analysis   Order a copy of this article
    by Suparak Suriyankietkaew 
    Abstract: This paper empirically investigates leadership and management practices that the literature suggests to influence organisational performance and corporate sustainability in entrepreneurial firms, an area that is lacking to date. Survey data were gathered from 357 small business leaders in Thailand. A sustainability research model and hypotheses were developed based on Sustainable Leaderships theoretical framework. Factor analysis revealed eight leadership and management factors, including enabling and trusting team, valuing people, empowerment, ethics, long-term orientation, quality, stakeholder consideration and innovation, which were postulated to significantly and positively predict superior financial performance and sustainability in small, entrepreneurial firms. Regression results indicated that innovation, high quality and stakeholder consideration were three significant drivers for enhanced long-term financial performance, thereby contributing to corporate sustainability. Therefore, small and entrepreneurial enterprises in Thailand and possibly in other Asian countries should consider adopting these strategic leadership and management practices to grow superior financial results and corporate sustainability.
    Keywords: leadership; sustainable leadership; sustainability; sustainable entrepreneurship; small business; financial performance; innovation; high quality; stakeholder; Thailand.

  • Does being greener pay? Bridging the gap between green technology orientation and firms growth   Order a copy of this article
    by Tommaso Pucci, Elena Casprini, Alberto Mattiacci, Lorenzo Zanni 
    Abstract: This paper analyses the impact of green technology orientation (GTO) on the firms growth. Mediation effect of environmental performance and moderation effect of environmental competitive strategies are also considered. Data from a unique sample of 177 wineries (over a 9 years long panel) and a focus group with three wine managers and a journalist were collected and analysed. Results are threefold. First, firms may pursue two different environmental performances (Land and Ecosystem and/or Energy and Emission). Second, there is no a direct relationship between the firms GTO and the firms growth, but this relationship is mediated by the environmental performances of a company. Finally, multiple combinations between environmental performances and environmental competitive strategies are able to explain firms growth.
    Keywords: Growth; Environmental Performance; Green Technology Orientation; Competitive Strategies; Latent Growth Model; Wine; Mediation Effect.
    DOI: 10.1504/WREMSD.2017.10007012
  • A Framework for Climate Change Management in Organisations: A case for India   Order a copy of this article
    by Aditee Potdar, Seema Unnikrishnan, Anju Singh 
    Abstract: This paper proposes a framework for climate change management in business organisations. In the proposed framework, regulations play a substantial role in translating the response drivers to mitigation activities and ultimately leading to the formation of a climate change strategy. The proposed framework is validated in the Indian context by designing a questionnaire and administering it to 166 manufacturing organisations. The organisational responses are subjected to exploratory factor analysis to derive items that are central to the Indian context. The findings suggest that physical risk due to climate change affects the firms greatly. Procurement and supply chain management are the areas where firms could initiate significant mitigation actions. The organisations anticipate the Government bringing out climate change related rules and standards for further mitigation. It can be concluded that the organisations perceive climate change as a risk and are exploring opportunities to tackle the challenge to gain benefits from it.
    Keywords: Climate change; regulations; mitigation; risk; business organizations.

    by Sarah Philipson 
    Abstract: This is a conceptual paper giving a fundamental critique of knowledge management, as conceptualized by Nonaka and colleagues by a critical reading of Polanyi, inspired by the Russian psychologist Vygotsky and the US engineering professor Ferguson. The findings are that the externalization of tacit knowing is much more complex and less prone to management than suggested in extant literature. In creating knowledge from such tacit knowing the community pf practice is identified as crucial.
    Keywords: tacit knowing; externalization; explicit knowledge; gestalt; problematization; innovation; community of practice.

  • Malaysias Response and Strategies towards Climate Change   Order a copy of this article
    by Say Keat Ooi, Azlan Amran 
    Abstract: Climate change is among the most critical challenges facing the world as it affects human well-being and economic growth. As a non-Annex I country, Malaysia has no quantitative commitments to reduce GHG emissions. Nevertheless, as part of the global community, Malaysia consciously pledges to share the load of global challenges. As the most powerful stakeholder in Malaysia, the Government plays an important role in providing leadership to guide and encourage businesses to address this topical issue. This paper reviews the energy and GHG emissions in Malaysia, and provides an overview of the climate change strategies from the governments perspective. It demonstrates Malaysias commitment to address climate change in the context of sustainable development, and highlights Malaysian governments efforts towards energy efficiency and renewable energy utilisation.
    Keywords: climate change policy; climate change strategies; energy; GHG emissions; Malaysia.

  • Critical Success Factors of Knowledge Management: A Review   Order a copy of this article
    by Asish Oommen Mathew, Lewlyn L. R. Rodrigues 
    Abstract: The purpose of this paper is to explore, compile and analyse the current literature base of critical success factors (CSFs) of Knowledge Management (KM) using qualitative research approach. After preliminary survey of articles, 72 research papers were identified for detailed review. CSFs were compiled using content analysis methodology and an inductive coding technique. Two iterations of coding were carried out resulting in the identification of nine generic CSFs of KM. The two of the most highly cited CSFs were KM culture and Human Resource Management (HRM). An analysis of the literature was also carried out to bring forth any existing research gaps. The most significant findings were lack of focussed CSF studies with respect to industries and dearth in research regarding various stake holder perspectives. This comprehensive research provides a base for KM researchers to carry out further research.
    Keywords: knowledge management; critical success factors; content analysis; knowledge management culture; human resource management; knowledge management technology; knowledge management strategy; knowledge management leadership; knowledge management process capability; knowledge management resources; knowledge management measurement.

  • Technical efficiency and decision to exit: evidence from the dairy farms in Sukabumi district, West Java, Indonesia   Order a copy of this article
    by Maman Setiawan 
    Abstract: This research investigates technical efficiency and its effect on the decision to exit of the dairy farms in Sukabumi district, West Java, Indonesia. Farm-level data obtained from survey are used to estimate the technical efficiency using a bootstrapped data envelopment analysis. The results show that dairy farms in Sukabumi are technically inefficient. The technical efficiency also has a negative effect on the decision to exit. This implies that the dairy farms with higher technical efficiency scores tend to have lower probabilities to exit from the business.
    Keywords: dairy farms; technical efficiency; bootstrapped data envelopment analysis; decision to exit.

  • The development of high-growth agribusinesses in the aftermath of the 2008 financial crisis   Order a copy of this article
    by Nuria Arimany-Serrat, Elisenda Tarrats-Pons, Petra Nylund 
    Abstract: The impact of the 2008 financial crisis has led the region of Central Catalonia, Spain, to rely even more on agribusiness. This industry represents a large share of employment and sales income in the region. In addition, high-growth firms drive a disproportionate share of regional economic growth. We therefore analyze the economic and financial health of high-growth agribusinesses in Central Catalonia during the period 2008-2013. We find that these firms exercise frugal financial management during the studied years, and that their economic profitability is a function of their solvency and the employee productivity. We conclude by discussing the implications of these findings.
    Keywords: Economic and financial analysis; high-growth firms; agribusinesses; profitability; financial return; Catalonia.

  • Investment Climate Constraints, Network Isomorphism and Survival among Small Commercial Poultry Farms (SCPF) in Ghana   Order a copy of this article
    by George Acheampong 
    Abstract: The aim of this study was to understand the importance of network isomorphism to survival using data from a two-year network survey of poultry enterprises in rural Ghana. The data was collected between January 2014 and March 2015. The study seeks to understand the usefulness of network isomorphism as structural conformance in a network in aiding the survival of SCPFs. Isomorphism was measured as the structural equivalence between actors in the collaborative network we developed from the data. First, it was found that there is a high failure rate among the SCPFs of about forty percent. Secondly, isomorphic SCPFs have a better survival probability and such isomorphism was very useful in overcoming investment climate constraints. However, the isomorphism reaches an optimum after which returns have a negative effect. The findings imply that, while technical efficiency is important to the survival of enterprises, business managers must also be attuned to the influencing role of structural conformance in an industry.
    Keywords: Small Business; Isomorphism; Investment Climate; Networks; Ghana.

  • Role of Leader-Member Exchange and Organisational Justice on Firm Sustainability in India: An Empirical Examination   Order a copy of this article
    by A.N.U. SINGH LATHER, Simran Kaur 
    Abstract: This study proposed that a perception of Organisational justice plays an important role in explaining the relationship between subordinates and their supervisors, and in turn, the resulting influence on firms sustainability. The study reports responses from 218 employees from Delhi NCR. This study disclosed that the distributive, procedural and interactional justice stanching from the Leader Member Exchange quality have a positive and significant link with firm sustainability. The limitations of common method bias and cross sectional data are discussed in light of implications for future research. This study answers the vital question that what should be done to increment the perception about Organisational fairness which result in sustainability of the firm.
    Keywords: Organisational Justice; Leader Member Exchange; Firm Sustainability.

  • The Green Value Chain Construct: Instrument Validation and Green Practices among Malaysian Corporations   Order a copy of this article
    by Jeen Wei Ong, Guan Gan Gerald Goh, Choon Yih Goh, Hui Siang Sally Yong 
    Abstract: This study aims to validate the green value chain construct developed through semi-structured interviews conducted on 35 public listed companies with green focus in Malaysia. Despite the importance of value chain activities as the cornerstone of value creation for businesses, there are only limited research effort that had been directed at empirically validating the green value chain construct. This study validated the green value chain construct through questionnaire surveys among 198 Malaysian corporations. In addition, the adoption of green practices within the value chain among the corporations are examined. The findings suggest that while the corporations are embedding green practices, mainly in the primary value chain activities, the green practices in the secondary value chain activities are however given lower emphasis. The minimal emphasis on embedding green elements in the technology development and human resource management is of concern which raises the question on the sustainability of green practices among these corporations.
    Keywords: Green Value Chain; Green Practices; Construct Validation; Exploratory Factor Analysis; Malaysian Corporations.

  • Technical and economic evaluation of renewable energy production in the Italian agricultural firm: financing a biogas plant investment   Order a copy of this article
    by Domenico Raucci, Stefano Agostinone, Martina Carnevale 
    Abstract: This paper provides a technical and economic evaluation for financing a biogas plant investment for energy production. Using a case study, the analysis is focused on a diversification strategy of an Italian agricultural firm that, moving from its traditional business, exploits the potentials offered by the integrations with renewable energy production. The building of a biogas plant represents, for a farm, an opportunity to plan a fruitful sustainable development by searching an effective and efficient balance between the financing sources and the regulatory incentives. The economic-financial results show that the renewable energy investment, especially in the biogas production, integrates effectively the current activities of the farm investigated without changing the core business efficiency. Furthermore, it supports its growth strategies with suitable levels of the profitability and greater attention of environmental impacts.
    Keywords: Italian agriculture sector; renewable energies production; biogas plant investment; project management; cash-flow analysis.
    DOI: 10.1504/WREMSD.2017.10016153
  • Stakeholder collaboration based on an innovated tourism product club model - An empirical investigation of the Parenzana product club   Order a copy of this article
    by Robert Ribarić, Christian Stipanović 
    Abstract: The aim of this study is to analyse the potential of a tourism product club, as a form of collaboration, in the development of a tourism product. The study applies a qualitative approach and consists of a theoretical part and an applicative part. Structured interviewing in the field was used to survey 49 respondents and the data were processed using thematic coding and qualitative content analysis. The theoretical part includes a schematic diagram of a tourist product club model that would ensure the competitiveness of an integrated tourism product, drive entrepreneurship and encourage the entrepreneurial activities of stakeholders. The applicative part investigates the possibilities of valorising, for the purposes of tourism, the Parenzana route, which passes through two countries, Croatia and Slovenia. Based on the current state, fundamental objectives are defined that could be accomplished through the synergy of innovated operational strategies, resulting in a highly-developed, integrated tourism product based on the Parenzana product club model.
    Keywords: stakeholder collaboration; cross-border collaboration; entrepreneurship; business model; tourism product club; innovations; integrated tourism product; sustainable development; qualitative research; thematic coding; qualitative content analysis; operational strategies; Parenzana.

  • Entrepreneurial characteristics and intentions among undergraduates in Malaysia   Order a copy of this article
    by Mohani Abdul, Azmawani Abd. Rahman, Mastora Yahya, Mohammad Mizanur Rahman 
    Abstract: This study investigates the entrepreneurial intentions of undergraduate students in the Public University and Private Institution of Higher Learning in Malaysia. Six entrepreneurial characteristics were observed during the focus group interviews which included; risk taking propensity, self-confidence, need for achievement, innovativeness, tolerance of ambiguity, and locus of control. These elements are used to define the entrepreneurial profile of students using the trait model of entrepreneurship as a basis of the proposed research. Ten students from the public and private higher institutions of learning were interviewed. Students were selected from one public university (IPTA) and another from private university (IPTS). Results based on the students entrepreneurial intentions are compared between the IPTA and IPTS and some plausible explanations are discussed. This research provides deeper insight into entrepreneurship education besides providing comprehensive empirical evidence about the impact of higher education on entrepreneurial intentions, thus fills an important gap in the entrepreneurship literature.
    Keywords: Entrepreneurial intentions; entrepreneurial characteristics; risk taking propensity; self-confidence; need for achievement; innovativeness; tolerance of ambiguity; locus of control; Undergraduates; Public university; IPTA; Private university; IPTS; Malaysia.

  • Asymmetric effects on the development of social enterprises. Factors and effects   Order a copy of this article
    by Jace Kristjana, Athanasios Tsagkanos, Evangelos Koumanakos 
    Abstract: The purpose in this paper is to empirically examine the factors that affect the development of social enterprises. Our research focus on a group of 16 EU countries in which the social economy sector is considered developed. Using a less homogeneous group of countries with respect to a more homogeneous group of areas from the same country will offer a different view regarding the significant factors. Our methodology is based on advanced econometric tests as Bootstrap test and Bayesian Bootstrap that attain better statistical properties in presence of low size sample with respects to classical correlation test. The results exhibit asymmetric effects of social entrepreneurship that differentiate the factors contributing to their development. In countries of South of Europe all the factors that theory proposes affect the development of social enterprises whereas in countries of North of Europe the impact is confined on the unemployment in vulnerable groups (as women and young people) and low expenditure on care for elderly. These results provide strong evidence that countries of South of Europe should turn the model of their macroeconomic policy.
    Keywords: Social enterprises; European Union; Bootstrap test; Asymmetric effects.

    by Parminder Kaur, Harman Arora 
    Abstract: Recently, a new upsurge can be seen in the travel industry that millennial are highly inclined towards nature travelling. The aim of the study is to investigate how green tourism can be promoted amongst youth. After conducting a content analysis of 200 Indian tourists from user-generated content available online, a survey was floated to a sample of 515 tourists with an objective to assess indicators that leads to destination loyalty amongst youth. An exploratory research was conducted to study qualitative standards that lead to consumer satisfaction and repeated visits. The study is useful for Ministry of tourism and policy makers, who are planning to set new tourist destinations in completely virgin areas. Further, the research can be used by destination managers, advertising and marketing companies, travel portals and lodging managers to study antecedents to faithful consumer behaviour amongst Generation Y.
    Keywords: Millennial; Environment; Repositioning; destination marketing; ecotourism.

    by Christian Hürlimann, Jasim Al-Ali, Dolores S. Bengoa 
    Abstract: This paper reports the findings of an ongoing research project in renewable energy (RE) investment valuation. We present the results of a survey of 111 Swiss and German investors in RE typically a non-traded asset (NTA). The surveys focus is placed on capital budgeting techniques, risk assessment, risk mitigation, cost of capital (CoC) approaches, and risk-adjustment processes in RE valuations, set in relation to demographic data of the surveyed firms and the interviewed participants to recognise relevant influencing factors. The research objectives are challenging due to the restricted data access for NTA. The survey results are both reassuring and surprising. In contrast to public traded companies (PTC), various unsystematic risk components are considered in risk assessments and risk-adjustments in RE investment valuation. The majority of organisations still employ simple techniques, such as the weighted average cost of capital (WACC) for valuating RE investments, particularly by large organisations, to derive country, technology, industry and/or project stage specific discount rates rather than project specific discount rates. A surprising number of organisations still use their firms risk within discount rates in RE valuations instead of project risk. In addition, the propagated certainty equivalent (CE) method is seldom applied. Moreover, we find clear evidence about materialised risk influencing personal risk preferences, and some evidence about cultural differences in valuation processes apart from providing considerations and suggesting improvements in line with good and/or best practice approaches while benchmarking the data and results between the available subsamples.
    Keywords: capital budgeting; asset pricing; investment return; cost of capital; risk assessment; risk mitigation; project risk; risk-adjustment; non-traded assets; private equity; renewable energy; Switzerland; Germany; benchmarking.

  • Modelling the Impact of Entrepreneurial Venture Risk Taking on Solid Waste Collection Capacity in Abuja, Nigeria   Order a copy of this article
    by Chukwunonye Ezeah, Sylvester A. Ofobruku 
    Abstract: This research, investigated the impact of entrepreneurial venture risk taking on solid waste collection capacity in Abuja, Nigeria. The study utilized a multi-methods approach consisting of direct field observations, key informant interviews and questionnaire survey for primary data collection. Data collected were analysed using the statistical programme for social sciences, SPSS version 17.0 software. Results indicate that entrepreneurial activities can be used to optimize efficiencies in sustainable solid waste management. In particular, the study found that entrepreneurial venture risk taking has a positive correlation on solid waste collection capacity with a strong significance value of 0.001. It is recommended that government should formulate policies that encourage entrepreneurial venture risk taking in order to enhance sustainable solid waste collection capacity within the case study area.
    Keywords: Entrepreneurship; Nigeria; Solid Waste Management; Venture risk taking; Waste Collection.

  • User entrepreneurship and high technology. A longitudinal case study in the medical device industry in Italy   Order a copy of this article
    by Francesco Capone 
    Abstract: The study investigates the creation of new ventures, starting from consumption and users. The research on user entrepreneurship has been rapidly developing in recent times, highlighting the importance of user communities and consumers passion for innovations that can satisfy unmet needs. Notwithstanding this increasing research effort, most contributions focus on end-user entrepreneurship and in low-tech sectors such as consumer goods or sport industries. This work intends to contribute to the debate by presenting a longitudinal case study of a professional user entrepreneurship in an high-tech sector, i.e. the medical device industry. Adopting the idea of a veterinarian-user, the company has developed a ground-breaking, complex product for the market, becoming an important market reality. The results present the evolution stages in the creation of user entrepreneurship from the generation of the idea till the business scale up and illustrate the contributions of user communities and the role of local clusters.
    Keywords: user entrepreneurship; innovation; medical devices industry; longitudinal case study; Italy.

  • Articulation of Micro Entrepreneurial Success and Wellbeing among Ghanaian Women   Order a copy of this article
    by Fanny Adams Quagrainie, Abigail Opoku Mensah, Alex Yaw Adom 
    Abstract: This study was motivated by recent calls towards the workings of entrepreneurship in promotion of well-being as little attention has been paid to the less tangible effects of entrepreneurship and the well-being of entrepreneurs as well as how entrepreneurial success (ES) relates to well-being. Using a mixed method sampling strategy, a sample of 85 women entrepreneurs (WEs) who own small businesses were purposively and randomly sampled, data was collected via interviews (face-to-face) in Tema and Accra. Both thematic content analysis and regression test were used to analyzse data. The findings indicate that model for measuring ES and well-being were applicable among Ghanaian WEs. It also suggested the possible existing low debt and leaving a legacy for family as indicators for ES. Being ethical was also identified as indicator for subjective well-being. The study also found a significant relationship among ES, objective and existential well-being, while a non-significant relationship was observed between ES and subjective well-being. The study suggests that policy-makers need to remain conscious of the constraining forces of social institutions when designing interventions. Entrepreneurial success may not be an appropriate tool for promoting the subjective well-being. The study provides insight into an area of research that has received less attention among female entrepreneurs. The effects of entrepreneurship and the well-being of women entrepreneurs as well as how entrepreneurial success (ES) relates to well-being were explored in this study to understand and appreciate how it impart on women and to put in appropriate measures to support women entrepreneurs.
    Keywords: Entrepreneurial success; well-being; women entrepreneursrn.

  • Does Employee Innovation Mediate the Relationship between Employee Performance and Relationship Marketing? An ICT-Based Case   Order a copy of this article
    by Amir Emami, Mahsa Molaei, Datis Khajeheian 
    Abstract: The following research questions drove the study: Does employee performance impact relationship marketing? And if so how? and Does employee innovation mediates this relationship? This research used the survey method. The sample size includes 196 employees of FANAP engaged in the field of ICT. Research findings from the Structural Equation Method (SEM) suggest that although employee performance has a significant positive effect on relationship marketing, employee innovation does not mediate the relationship. In addition, among all aspects of employee performance, job fit has the most significant effect on the relationship between employee performance and relationship marketing.
    Keywords: Employee performance; relationship marketing; organizational innovation.

  • Green Innovation in Recycling, - A Preliminary Analysis of Reversed Logistics in Norway.   Order a copy of this article
    by Arne Nygaard, Robert Dahlstrom, Bente Flygansvær 
    Abstract: There has been an exponential growth of new electronic products in the global consumer market. New electronic consumer products generate a growing need for new methods, processes and entrepreneurship in recycling. In this study, we examine how entrepreneurs involved in the recycling of electronic products innovate to create a more sustainable circular economy. The recycling system must take care of electronics that contains hazardous materials. Also, a recycling system should prevent the waste of potentially useful materials. Thus, entrepreneurship is crucial to improve the handling of toxic material and processing technology to reuse valuable elements. Innovation therefore is essential to facilitate a sustainable recycling process. In this study, we analyse entrepreneurial innovation in the light of the organisational structure of the recycling system. Following a study of 108 recycling entrepreneurs, competition and specific investments are found to be important factors that drive the sustainable innovation that make Norway one of the countries with the highest recycling rates of electronic and electric waste.
    Keywords: Electronics industry; Sustainable entrepreneurship; Circular systems; Ecological innovation; Reverse Logistics; Reverse Distribution; Competition; Specific Investments.

  • Does Institutional Inefficiency Encourage Entrepreneurs to Adopt Effectuation Logic in Strategic Business Decision?   Order a copy of this article
    by Md. Nur Alam, Utz Dornberger 
    Abstract: The institutional setup of a country defines the boundaries for businesses, allowing for certain courses of action whilst restricting others. It provides system signals to entrepreneurs, which are interpreted during their decision-making. A firm needs to pass through the institutional setup of its home and host countries when it extends its operation outside the domestic market. Therefore, the efficiency of the home and host institutions play a significant role in terms of the decision-making logic that entrepreneurs adopt during their decision to internationalize. The efficiency of local institutions can cause entrepreneurs to adopt a certain decision-making logic while inefficient local institutions can force entrepreneurs to adopt other types. This paper examines the relationship between perceptions of institutional efficiency and entrepreneurial effectuation logic. The study tested the hypothesis using a sample of 101 Bangladeshi software entrepreneurs. The data were collected by applying a structured questionnaire. The data analysis was conducted by implementing a Partial Least Squares (PLS) structural equation modelling. The result of this study supports the assumption that the perception of institutional efficiency has an impact on entrepreneurial effectuation logic.
    Keywords: Effectuation Logic; Internationalisation; Perceptions of Institutional Efficiency; Software Entrepreneurs; System Signals.

  • A New Driver of Farmers' Entrepreneurial Intention: Findings from E-commerce Poverty Alleviation   Order a copy of this article
    by Feiyan Han, Bo Li 
    Abstract: E-commerce poverty alleviation (EPA) is an emerging form in which poverty alleviation is conducted via e-commerce platforms in China. Although EPA has stimulated farmers entrepreneurial intention, it remains unknown how to effectively promote farmers' entrepreneurial intention in the context of EPA. To mitigate this deficiency, this study examines the effect of farmers entrepreneurial intention through the case of Shanxi Province in China. SEM is employed to study new drivers of farmers entrepreneurial intention, including government, e-commerce platforms, farmers' perceived risk and farmers trust in e-commerce entrepreneurship. The empirical results show that governmental support of EPA has a direct positive effect on farmers entrepreneurial intention and positively affects farmers trust in the e-commerce entrepreneurship. The trust and perceived risk that farmers associate with an e-commerce platform partially mediate the relationship between government support and farmers entrepreneurial intention. E-commerce platform policies indirectly affect farmers entrepreneurial intention. The results of this study can help local governments make appropriate policies to promote entrepreneurship among farmers.
    Keywords: e-commerce poverty alleviation; government support; e-commerce platform; perceived risk; entrepreneurial intention.

    Abstract: The Kirana stores, the typical Indian grocery mini-markets have been facing a serious threat due to the growth of organized retail and the e-commerce sector in India. This is forcing the kirana stores to re think their strategies. The primary study queried consumers residing in five Indian cities to understand their consumption patterns and FMCG buying behavior. Data from industry sources from 2010 -2015 was also used, along with case study analysis of FMCG companies in India to understand their plans up to 2020. Finally, the recent revenue records and sales generation steps by leading e-commerce websites in India were studied. The implication of the research is that these kirana shops would have to go in for different and innovative strategies to face the competition from the retail dragons and to meet the new customer expectations so that they remain sustainable in the long run. As seen here, kirana shops will always survive and outlive any kind of competition . The heart of Indian customers still continues to rest with the kirana stores. The paper suggests various ways in which these stores can enhance their worth, practice innovative retention strategies and build mutually beneficial partnerships with big companies. The bottom line would have to be - its physical with digital!
    Keywords: kirana stores; e-commerce; organized retail; consumer behavior.

  • Determinants of Productivity and Efficiency of Okra Production for Export in Suphan Buri and Nakhon Pathom Provinces, Thailand   Order a copy of this article
    by Pimolwan Katepan 
    Abstract: Agriculture is the prime source of economic activities, especially in Asia. In the okra export market channels, Japan was a major importer, yet suspended all importation of okra from Thailand, according to the promulgation of the Positive List System. This study aimed to 1) estimate one particular type of productive efficiency, viz. technical efficiency, in okra production in Thailands Suphan Buri and Nakhon Pathom Provinces, by using a Cobb-Douglas production function for single okra output and multiple inputs. The analysis applied the Stochastic Production Frontier, and 2) investigate the determinants of production efficiency by using Tobit Regression. Based on data collected from 222 okra farming households in two provinces, who contracted with private companies to produce okra for export. The results revealed that the average technical efficiency of okra production among the samples in Suphan Buri and Nakhon Pathom Provinces was 81.45%. Furthermore, the results showed that okra growers gender, age, formal years of schooling, number of family members engaged in okra production, and hired labour had positive relationships with efficiency scores. While years of experience in okra production had a negative effect.
    Keywords: Okra production; Positive List System; Stochastic Frontier Analysis; Suphan Buri Province; Tobit Regression.

  • Board of directors characteristics, internal control mechanisms, and corporate sustainability performance: a theoretical framework   Order a copy of this article
    by A.N.M. Asaduzzaman Fakir, Ruzita Jusoh, Nurliana Md Rahin 
    Abstract: The purpose of this paper is to propose a framework to examine the relationship among the board of directors characteristics, internal control mechanisms, and corporate sustainability performance. In particular, it aims to uncover how the board specific characteristics influence internal control, which, ultimately, would enhance the sustainability performance of public listed companies. The premise of the resource dependence theory is utilised to identify the board characteristics that may influence the sustainability performance; namely, size, composition, leadership, ownership, diversity, and expertise. Inspired by the institutional theory, the mediating role of internal control mechanisms, proxied by enterprise risk management (ERM) and management control systems (MCS), is also examined in this relationship. The majority of the previous studies concentrated on a few particular dimensions of sustainability like environmental and social aspects, whereas the governance and economic aspects remain unexplored in the literature. This paper fills this important research gap through holistically conceptualizing sustainability performance.
    Keywords: Board of directors; sustainability; enterprise risk management; management control system.

Special Issue on: Re-engineering for Sustainability and Climate Change

  • Data mining techniques for Stroke: A Systematic Review   Order a copy of this article
    by Arpana Singh, B. Roy 
    Abstract: ABSTRACT rnBackground:rnThe objective of this study was to conduct a systematic review of applications of data-mining techniques in the field of Stroke research. rnMethod:rnWe searched the MEDLINE database through PubMed and PubMed Central. We initially identified 28 articles (17 from pubMed & 11 from PubMed Central) by the search, and selected 13 articles representing various data-mining methods used for Stroke research. Our main interest was to identify research goals, Stroke types, data sets, data-mining methods, data-mining software and outcomes. rnResults: rnThe applications of data-mining techniques in the selected articles were useful for extracting valuable knowledge and generating new hypothesis for further research work, prediction of Strokes Risk Factor and improving health care for stroke patients. The results could be used for scientific research and real-life practice to improve the quality of health care stroke patients.rnConclusions:rnData mining has played an important role in stroke research. Data mining would be a valuable asset for stroke researchers because it can unearth hidden knowledge from a huge amount of Stroke-related data. We believe that data mining can significantly help stroke research and ultimately improve the quality of health care for stroke patients.rnrn
    Keywords: data mining; stroke risk factors; stroke; systematic reviewrnrn.

    by Virender Khanna 
    Abstract: Organizational Integrity can be defined as self-governing practices of an organization based on some values and ethics. Organizational integrity always flows from top to bottom. Current study aims to measure the organizational integrity of fifty companies from ten different sectors of Indian economy using primary data. KPMG thermometer has been used to measure the organizational integrity for measuring eight dimensions of integrity namely; clarity, role modeling, enabling environment, support, transparency, enforcement, comfort to report misconduct and openness. Data has been collected from all over India from the employees of the surveyed companies. It was found from the study that organizational integrity is high in banking, and insurance companies while the integrity is low in IT and Automobile companies
    Keywords: Integrity; Companies; Ethics; Ethical leadership; Governance; KPMG Thermometer; Responsible behavior and Banking.

  • Decision tree model for classification of fake and genuine banknotes using SPSS   Order a copy of this article
    Abstract: Counterfeiting is a exhaustive problem smashing extensively, virtually as well as in reality, on each sectors all around the world. In order to identify and classify fake and genuine banknote various techniques and models have been proposed and developed. This paper proposes an effective predictive model based on machine learning technique for authentication of banknotes, which can predicts with good accuracy that whether the given banknote is fake or genuine. The decision tree model is built using IBM SPSS tool. The performance measure of the model is done using Gain charts and Index charts and it is found that proposed decision tree model is good enough for prediction of banknote classification as fake or genuine.
    Keywords: Counterfeiting; fake and genuine banknotes; decision tree; banknote authentication; gain values; Index values; machine learning; SPSS.

  • Intellectual Property Rights Protection and Foreign Direct Investment: A Study of BRICS countries   Order a copy of this article
    by Rajender Kumar, Sunil Kumar Yadav, Saurabh Verma 
    Abstract: Economic implications of Intellectual property rights protection is always been a matter of debate among policy makers. It is assumed that FDI inflow in any nation depends upon the level of protection given to the creation of intellectual capital. Studies conducted on developed nations built strong link between IPR protection and foreign direct investment. The debate centered on whether these results can be reciprocated for developing countries. This study adds new dimensions to the existing literature by analyzing the impact of IPR protection on FDI inflow in BRICS nations with the help of country specific data for the period of 2000- 2015. FDI inflow is considered as dependent variable and charges of IP use, patent granted, patent filed by residents, non-residents and R&D expenditure as the percentage of GDP as an independent variable and proxy to IPR protection. The empirical results suggests that charges of IP use, total patent granted and patent filed by non-residents affects FDI inflow. Further study concludes that stronger IPR protection in developing countries will infuse foreign direct investment in the technology oriented knowledge sectors where probability of loss due to imitation is high.
    Keywords: Intellectual property rights; foreign direct investment; BRICS countries.

  • Indian Individual Investor Behavior: A Model Based Study to Meet Sustainable and Inclusive Growth   Order a copy of this article
    by Kritika Batra, Vibhash Kumar 
    Abstract: Purpose: This study investigates the contextual and psychological factors influencing individual investors decision making in the currently volatile and emerging Indian investment market. Design/Methodology/Approach: Primary information was collected through a multi-segment questionnaire. The questionnaire was employed to measure individual investor biases, contextual attributes influencing investment, and financial satisfaction. Responses were obtained from 384 individual investors of Chandigarh, Panchkula, Mohali region and a model was thus developed using exploratory factor analysis and structural equation modelling to show the impact of psychological factors and contextual factors on financial satisfaction. Findings: On the basis of exploratory factor analysis six relatively homogenous groups of contextual factors that influence individual investor behaviour were identified. As per the literature on biases we identified the psychological factors/biases as overconfidence, Loss aversion, regret aversion, mental accounting, Illusion of control, hindsight, status quo, self-control, availability, representativeness and conservatism. SEM analysis depicted that psychological factors/biases and contextual factors could explain 13% of variation in financial satisfaction. Research Implications: This paper can act as a guide to the investors, financial service providers, government and the policy makers. This analysis also contributes to the literature of behavioural research, in terms of generating financial satisfaction through behavioural, psychological and contextual factors; and in the process promotes inclusive growth and reduce income inequality thereby meeting some sustainable development goals outlined by the United Nations. Originality/Value: This study is among the few behavioural studies on financial satisfaction and establishes a relationship between psychological factors and financial satisfaction.
    Keywords: Financial Inclusion; Investor Decision Making; Investment Behaviour; Financial Satisfaction; Sustainable and Inclusive Growth.

  • Green Practices for Sustainability of Quick service chain restaurants (QSR) Business: An Empirical Investigation   Order a copy of this article
    by Ashutosh Nigam, Sima Kumari 
    Abstract: Indian Quick service chain restaurants are becoming important segment of food services market, and have seen exponential growth in India. To survive and sustain in longer term, organized quick service chain restaurants have to develop policy and processes towards green practices, and are able to make significant contribution towards community development. Present study focuses on employees behavior towards green practices in quick service chain restaurants with broadly three prospectives namely, environmental, social, and economic. Adoption of green practices will enable the QSR to sustain the business persistently and able to grow their businesses through community development.
    Keywords: Sustainability; Green Practices; Ecofriendly; Quick Service Chain Restaurants.

  • Conceptual Development of Transfer of Brand Loyalty in Brand Stretching   Order a copy of this article
    by Ashutosh Nigam 
    Abstract: Present study explores the relationship of the loyalty of parent brand to the loyalty towards brand extension. Brand stretching is commonly utilized technique to broaden the portfolio of a brand whilst resulting in minimizing of risk in comparison to introduction of entirely new brand in the market. Victory of offspring brand depends on the understanding of parent brands association, core competency and carrying on same attributes in offspring brand. Adequate marketing support and efficiency of harnessing potential also influences the extension strategy. There is a risk of brand dilution of parent brand in case extension of the brand is not managed properly.
    Keywords: Brand Stretching; Brand Loyalty; Offspring Brand.

Special Issue on: Ethics and Social Responsibility

  • AIDA BOOKS&MORE: A PROJECT BEYOND READING   Order a copy of this article
    by Elisa Baraibar-Diez, María D. Odriozola, José Luis Fernández Sánchez 
    Abstract: Cutbacks in official development assistance (ODA) have forced many NGOs to diversify their sources of funding to continue (and also expand) their projects in destination countries. AIDA is a Non-Governmental Organization for Development Cooperation working in Morocco, Guinea Bissau, Senegal, Lebanon and Bangladesh. In search for new sources of funding, AIDA Books&More was born in 2009 in Segovia (Spain). It was the first charity bookshop in Spain and eight years later, 220 volunteers are involved in a project that has an online store and 9 outlets (Segovia, 2 shops in Madrid, 2 shops in Valencia, Castell
    Keywords: social entrepreneurship; non-for-profit organizations; NGOs; charity bookshops; accountability; cooperation projects.

  • Sustainability Disclosure Imbalances. A qualitative case-study analysis   Order a copy of this article
    by M.ISABEL SANCHEZ-HERNANDEZ, Flavio Hourneaux-Junior, Barbara Galleli 
    Abstract: According to the paradigm of the Triple Bottom Line approach for sustainability, an organization is supposed to positively impact on three dimensions of sustainable development: economic, social, and environmental. Therefore, there is some doubt if companies are giving the same importance at these different aspects of sustainability in their disclosure efforts. The aim of this paper is to identify the existence of either equilibrium or imbalance among the dimensions of sustainability and to identify the level of association between the company
    Keywords: Disclosure; Qualitative Analysis; Performance; Sustainability.

  • Corporate social responsibility, job satisfaction, and customer orientation in Angola   Order a copy of this article
    by Ana Patricia Duarte, José Gonçalves Das Neves, Daniel Roque Gomes, Gabriel Alberto Moisés 
    Abstract: This study sought to examine the effect of corporate social responsibility (CSR) on employees costumer orientation through the mediating role of job satisfaction for a sample of tourism and hospitality employees in Angola. Data were collected from 125 respondents using anonymously completed structured questionnaires. Perceived CSR was assessed by the scale developed by Mart
    Keywords: Corporate social responsibility; job satisfaction; employee customer orientation; Angola; Africa; tourism and hospitality; hotels; job attitudes and behaviours.

  • Corporate Hypocrisy and Social Responsibility: a comparative study of brand crises effect on consumer's attitude toward brands   Order a copy of this article
    by Ana Luisa Santos, Beatriz Casais 
    Abstract: It is essential to understand how consumers react to scandals that occur in the domain the brand promotes Corporate Social Responsibility. This study discusses how corporate social responsibility and perceived corporate hypocrisy change consumer attitudes after a brand crisis. The results of 328 responses to a survey about attitude towards four brands faced a crisis in the environmental domain - BP, Zara, Nestl
    Keywords: corporate social responsibility; corporate hypocrisy; attitude towards the brand; brand crises.

  • Portugal, The Best Destination: the case study of a CSR communication that changed mentalities and increased business performance   Order a copy of this article
    by Beatriz Casais, Bruno Sousa 
    Abstract: Corporate Social Responsibility (CSR) practices have shown evidence of success in marketing and business outcomes, even during financial crisis periods and in the context of small businesses. This paper presents a case study of a small company producing digital albums that launched a digital communication campaign aiming to increase the habits of taking and printing digital photos. The campaign also aimed at creating a more positive image about Portugals future in a financial crisis context and increasing tourism activities and a sense of national self-esteem among people. The campaign Portugal, The Best Destination invited everyone in Portugal to show the country as a tourist destination of excellence, participating with photos that would be added to the largest photo book recognized by The Guinness World of Records. The buzz created by such a low budget campaign solved the organizations lack of awareness and the lack of photography printing routines among consumers, while bringing a Portuguese sense of pride and helping create an external public opinion about the country.
    Keywords: Corporate Social Responsibility; Integrated Marketing Communications; New Media; Societal Marketing; Destination Marketing.

  • Drivers and Barriers of University Social Responsibility: Integration into Strategic Plans   Order a copy of this article
    by Elva Lizeth Ramos-Monge, Xavier Llinas-Audet, Jesus Barrena-Martinez 
    Abstract: The implementation of University Social Responsibility (USR) in its strategic plans is a subject of great social interest. However, the lack of understanding produces deficient stakeholders engagement, obstructing USR applications and potential benefits. USR in a formal context and as part of strategy should be a path that leads to its fulfilment. A Delphi method was used and several experts have participated in it. Results show that USR is related to students issues, among main drivers are to work under a code of ethics and acquire civic competences as a part of their vocational training. Among barriers to be involved in social responsibility activities is the lack of engagement of university community. The insufficient communication into the university community is mentioned as one of the main obstacles to incorporate USR into strategic planning. Relevance of this work relies on the holistic points of views of the results.
    Keywords: University Social Responsibility; Delphi method; Strategic Management; Strategic Plan; Stakeholders Theory.

    by Cesar Sahelices-Pinto, Ana Lanero-Carrizo, Jose Luis Vazquez-Burguete 
    Abstract: In current marketplaces, implementation of activities related to Corporate Social Responsibility (CSR) is a new expectation to be fulfilled by all sort of organizations. These ethical practices are key issues at the time of differentiating products, gaining competitive advantages for consumer decisions and reviews, and building simultaneously a positive reputation in face of the various stakeholders. Although the recent marketing literature indicates a positive link between companies involvement in social and environmental causes and consumer goodwill towards firms and brands, the effects of social reputation on consumer behavior are not entirely demonstrated. In the context of these evidences, this paper analyzes the consideration of responsibility criteria (CSR) over the different stages of the consumer decision-making process with regard to hospitality services. Particularly, a self-administered questionnaire was conducted with a representative sample of consumers in Spain. In general, findings support a moderate-downward impact of perceived business responsibility over the consumer decision-making process, while some discrepancies can be observed between individuals within gender and different age groups. Lastly, a final discussion is carried out gathering some interest considerations as direct reflection of results obtained and further lines of future research are indicated.
    Keywords: corporate social responsibility (CSR); consumer behavior; consumer decision-making process; hospitality sector; gender and age.

  • Collective Social Entrepreneurship for Sustainable Impact: a framework proposal   Order a copy of this article
    by Vanessa Mato-Santiso, Marta Rey-Garcia 
    Abstract: Collective social entrepreneurship (CSE) has gained in importance over the last decade as a set of new approaches to solve complex social problems. This paper aims to better understand the conditions under which CSE may achieve sustainable impact. To fulfil that goal, we propose a conceptual framework that relates the antecedents, enablers and outcomes of CSE. The framework is applied to assess the maturity of a large cross-sector alliance in the field of work integration through case study research methods (Yin, 1994). Regarding main theoretical contributions and empirical findings, we: 1) propose a set of six key inter-organisational enablers to assess the maturity of CSE towards the creation of a shared value ecosystem, 2) highlight the potential role of integrated and innovative corporate social responsibility as both antecedent and enabler of CSE, 3) shed light on the challenge of measurement of CSE outcomes and their contingency on factors beyond alliance boundaries, and 4) illustrate the tensions derived from disparate goals, language differences and asymmetric alliance learning in a CSE.
    Keywords: Collective Social Entrepreneurship; Sustainable Impact; Collective Impact; Shared Value Ecosystem; Systemic Change; Inter-organisational Enablers; Alliance Learning; Work Integration; Vulnerable Groups.

    by Sandra Gomes, Pedro Graca 
    Abstract: One of the main purposes of this paper is analysing the perception of Portuguese consumers namely undergraduate students in Oporto regarding Corporate Social Responsibility (CSR). Considering consumer perceptions on CSR dimensions are limited to a national contingency, this research provides some results that bridge the research gap on the subject in Portugal. For this purpose, exploratory interviews have been conducted and such interviews have allowed the elaboration of a questionnaire directed to a sample of 824 students in 22 higher education institutions. Due to the analysis of the main results, it has been concluded that students had some knowledge and a multidimensional vision of CSR. After an exploratory and confirmatory factorial analysis, it has been found that the CSR concept is based on four dimensions: Economic, Environmental, Employees and Community. Concerning consumer support of CSR, such consumers prefer avoiding products from socially irresponsible companies to actually be willing to pay more for products from socially responsible ones.
    Keywords: Consumer perception; Consumer support of CSR; CSR; Undergraduate students.

    by Pedro Gaudencio, Arnaldo Coelho, Neuza Ribeiro 
    Abstract: The study aims to show how organisational Corporate Social Responsibility (CSR) can influence workers attitudes, especially in terms of Innovative Behaviour (IB). A second aim is to explore the social exchange process that may underlie this relationship, by examining the mediating role of Organisational Trust (OT), Affective Commitment (AC) and Happiness (HAP), and the moderating role of Perceived External Prestige (PEP). The authors employ structural equation modelling based on survey data obtained from 315 Portuguese individuals. The findings show that perceptions of CSR predict IB through a social exchange process which involves the mediating role of OT, AC and HAP and the moderating process of PEP. They suggest that managers should implement CSR practices because these can contribute towards fostering IB, but that they should also invest in communication and in the process of upgrading corporate image. This study enriches the existing knowledge about social exchange relationships in organisational contexts, and responds to the need to understand underlying mechanisms linking CSR with workers organisational outcomes, by analysing CSR practices from a holistic stakeholder perspective.
    Keywords: Corporate Social Responsibility; affective commitment; happiness; perceived external prestige; social exchange; trust.

Special Issue on: The Future Promise of Internet of Things (IoT) and Smart Cities Governance, Entrepreneurship and Innovation Management

  • A SMART PARKING SYSTEM USING IoT   Order a copy of this article
    by Ganesh Gopal D, Asha Jerlin M 
    Abstract: The primary vision of developing smart cities is to enable growing technologies in to our daily activities, that will helps us to resolve our daily issues in house management, health care management, traffic management system. Due to the overcrowding of cities and increase in the number of vehicles finding a free space to park vehicles has become a major issue to the drivers especially in peak hours. Though many traditional approaches and technologies are deployed there have been many flaws are suspected and identified. Though lot of solutions has been proposed over the parking solution problems they have certain limitation and constraints over the devices or technology used as well as the cost factor required for implementation. So considering such factors we have proposed a prototype model to experiment our system which can very effectively optimize the parking solution with low-cost parking solutions.
    Keywords: Smart parking System ( SPS); IoT; ultrasonic Range finder; wifi enabled Arduino UNO; low cost.

  • Depicting a conceptual framework for Smart City   Order a copy of this article
    by Francesco Caputo, Vincenzo Formisano, Barbora Buhnova, Leonard Walletzky 
    Abstract: The vibrant scenario in which companies, organizations, and institutions daily interact is underlying the increasing relevance and opportunities offered by the information and communication technologies. The world in which we live is progressively becoming a digital ecosystem in which all the interactions, relationships, and exchanges are supported by technological instruments and platforms. In this emerging scenario the topic of Smart City is attracting a prominent interest of researchers and practitioners. The general approach to the Smart City as instruments to connect users, infrastructures, and services by using the information technologies is producing several research questions with references to the relationships among technologies, environment, and users in the next years. In order to enrich previous knowledge on this topic, the paper adopts a qualitative approach to define a wider conceptual framework for Smart Cities. The principal aim is to support both researchers and practitioners in better understand and manage the emerging smart and digital environment.
    Keywords: Digital Ecosystems; Smart Communities; Information and Communication Technology.

    by Chiara Crovini, Giovanni Ossola, Guido Giovando 
    Abstract: The present study represents a theoretical contribution in the field of smart cities and banking foundations and, in particular, the paper aims to underline the opportunities and the potential benefits of banking foundations supporting the development of smart cities in Italy. We analysed the reports on strategic business plan of the period between 2017-2019, published by the eighty-eight banking foundations, the corporate governance and the internal organisation model, the notes to the financial statements and the websites of the Italian banking foundations and, through a deductive approach, we elaborated their general business model. This research, thanks to its multidisciplinary approach, contributes to the body of knowledge by providing a virtuous example of interactions and synergies between smart cities and banking foundations in Italy. This work represents the first step of a far deeper analysis and consequently future developments will constitute valid tests of core arguments deeply analyzed in this context.
    Keywords: smart cities; smart sustainable cities; Italian banking foundations; business model; innovation.