ABSTRACT
PurposeThis study aims to investigate the resilience of Italian companies one year after the coronavirus disease 2019 (COVID-19) outbreak by examining the companies' choices and opinions regarding the welfare state, criminal approaches and mergers and acquisitions (M&As) during the pandemic.Design/methodology/approachThe authors proposed a conceptual framework based on a combination of private vs public protection and business resilience theory and adopted a concurrent embedded mixed-method approach, using an online survey of 219 entrepreneurs.FindingsThe authors find the respondents showing high resilience to the crisis and strongly unaffected by organised crime's (OC's) predatory role;the State seems to have quickly and effectively met the financial needs of sampled Italian companies, at least in the short term.Practical implicationsWhilst welfare can be highly effective for companies to combat crime, regulators should recognise that public protection may decrease with time, leaving companies open to long-term challenges.Originality/valueThe authors believe that our study makes a significant contribution to the entrepreneurship literature because this is the first study to explore how entrepreneurs deal with financing problems in a context characterised by a strong impact of the COVID-19 pandemic and OC pressure.
ABSTRACT
Purpose - This study aims to investigate the resilience of Italian companies one year after the coronavirus disease 2019 (COVID-19) outbreak by examining the companies' choices and opinions regarding the welfare state, criminal approaches and mergers and acquisitions (M&As) during the pandemic. Design/methodology/approach - The authors proposed a conceptual framework based on a combination of private vs public protection and business resilience theory and adopted a concurrent embedded mixed-method approach, using an online survey of 219 entrepreneurs. Findings - The authors find the respondents showing high resilience to the crisis and strongly unaffected by organised crime's (OC's) predatory role;the State seems to have quickly and effectively met the financial needs of sampled Italian companies, at least in the short term.Practical implicationsWhilst welfare can be highly effective for companies to combat crime, regulators should recognise that public protection may decrease with time, leaving companies open to long-term challenges. Originality/value - The authors believe that our study makes a significant contribution to the entrepreneurship literature because this is the first study to explore how entrepreneurs deal with financing problems in a context characterised by a strong impact of the COVID-19 pandemic and OC pressure.
ABSTRACT
Purpose>This paper aims to focus on the relation between digital transformation and banks’ reputation, as examined through the information disclosed by the five largest Italian banking groups’ efforts to extend and enhance their digital resources. Considering digitalization as a key strategy for managing reputation, which, in turn, can leverage financial and value performance management, the paper investigates whether and how digital activities might affect banks’ reputation. Therefore, this paper proposes the relationship between digitalization and reputation as a lever for performance management and for increasing efficiency.Design/methodology/approach>The authors use content analysis to generate a digital disclosure index, categorizing activities human, structural and relational. For banks’ reputations, the proxies are a measure of corporate reputation and a reputational risk index. Methodologically the study used multiple case studies, considered as particularly suitable to gain an in-depth understanding of the topic in the case of the five banks. A collection of secondary data and semi-structured interviews are included.Findings>Overall, the digitalization-reputation link shows that banks’ reputation is variously affected, not only by exposure to risk (including reputational risk) but also by strategic issues such as digitalization and the effectiveness of the corresponding communication. Consequently, banks should view digitalization as a key driver to be considered not in a stand-alone perspective, but in a combined approach.Research limitations/implications>Continued research should include the Covid-19 implications. Additionally, it would be important to compare a larger number of banks, with different characteristics, also including variables indicating the corporate governance mechanisms.Practical implications>The analysis contributes to fostering scholars’ and practitioners’ management of the digital transformation challenge that is a current key-factor, capable of increasing banks’ value. It considers not only the drivers directly affecting monetary value but also the institutions’ social and relational value, as well as their reputation.Originality/value>This paper extends prior research on the digitalization-reputation relation by investigating digital transformation through disclosure of activities in this area within the Italian banking sector. It allows to leverage the key-factors that can contribute to increasing banks’ value, considering not only the drivers directly affecting monetary value but also the institutions’ social and relational value, as well as their reputation.