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In Italy, worker cooperatives (WCs), whose workers hold major control rights over collectively-owned assets, are the leading vehicle for the promotion and development of employee ownership. Worker cooperatives are present in all regions and in most economic sectors, employing about 506,000 workers and generating a turnover of about €22 bn. Despite their history and diffusion, the high prevalence of WCs in Italy is under-researched and -thematised and requires new research.

The paper leverages unpublished primary and secondary data from Centro Studi Legacoop databank, the Aida-Bureau Van Dijk databank and the Cooperative Registry of the Ministry of Economic Development (CRMED) to explain the spread of WCs in Italy.

This paper reveals descriptive statistics of WCs and investigates their distribution across economic sectors and regions, their economic and financial performance and gives an overview of the relevant legislation. The paper indicates that older small- and medium-sized cooperatives located in central and north-eastern Italy perform best economically. However, in recent years, an increasing number of young cooperatives has emerged in South Italy thanks to favourable legislation, cooperative finance and the diffusion of cooperative know-how. Limitations to such results are reported in the conclusions.

The paper sheds light on past and recent development trends of WCs in Italy, highlights their growth in South Italy and revitalises the debate on the drivers, structures and rationales of employee-owned enterprises in Italy. Findings generate implications for research and practice. Given the tendency of WCs to better protect jobs than investor-owned enterprises, the spread of these enterprises may help workers find better and more stable jobs, counter-cyclically mitigating the dangerous effects of macro- and meso-economic fluctuations and instability.

Although facilities management (FM) has been advocated in the construction industry to address the issues of facilities in buildings, their adoption is still plagued with barriers. The factors affecting FM practices need detailed investigation. However, few studies have been conducted on the factors affecting FM practices in developing countries such as South Africa. This study aims to investigate the factors affecting effective FM practices in public buildings in South Africa.

To achieve this aim, a quantitative survey was carried out using questionnaire to gather relevant data in the study area. The collected data were analysed using descriptive statistics and principal component (factor) analysis. The study was conducted on 39 facilities managers in the Department of Public Works in KwaZulu-Natal Province, South Africa.

The descriptive analysis revealed that availability of funds, occupants’ knowledge of FM, absence of policy guiding FM practice, state of deterioration of facilities and design concepts and scope were significant challenges affecting effective FM practices in public buildings in South Africa. The result of the principal component analysis of the factors affecting FM practices were grouped into organisational factors, structural/design errors and end users’ elements.

As it is widely understood that “money” plays a significant role in the performance of any activity or function, administrators/governments of public facilities should strive to plan and make appropriate finances accessible to facilities managers. Participation of facilities managers in the planning stage can also help reduce design flaws and their maintenance implications. In addition, adequate training for professionals can improve FM awareness and productivity.

The paper reveals the structural framework of the factors that can influence the effective facilities management practices in public buildings.

The purpose of this paper is to investigate the potential link between Sweden’s high reliance on equity capital financing among small and medium-sized enterprises (SMEs) and its recognition as the most innovative economy in Europe according to the European Innovation Scoreboard (EIS). This paper examines the idea that the high levels of trust within Swedish society can explain why private equity financing is more prevalent among Swedish SMEs.

To test these ideas, the authors use data from the Survey on Access to Finance for Enterprises to measure the private equity reliance of firms. The authors also use the EIS to measure the innovation capacity of nations and various aspects of SMEs’ innovation activities. Finally, societal levels of trust are measured through the World Value Survey.

First, the authors find that European countries with a higher proportion of SMEs relying on equity financing tend to be ranked as more innovative by the EIS. Second, the authors find that the correlation between a nation’s share of SMEs relying on equity financing and their level of innovation activities is marginally stronger for product innovations than for business process innovations. Third, the authors find that countries with higher levels of trust tend to have higher equity capital reliance among SMEs.

This study builds upon previous research on equity capital and SMEs’ innovation activity while introducing new insights into the relationship between societal trust and equity financing.

Given the importance of immigration and immigrant entrepreneurs in advanced economies, the authors take an entrepreneurial ecosystem perspective to study the home-country benefits possessed by immigrant entrepreneurs and how home-country entrepreneurial ecosystem factors affect immigrant entrepreneurial motivations, activities and outcomes.

This conceptual research paper follows McGaghie, Bordage and Shea's (2001) four-step new theory creation process, which suggests that new theories can be created through facts extraction from the extant literature.

The authors propose that although immigrant entrepreneurs are unable to take full benefit of the host-country entrepreneurial ecosystem due to blocked mobility, they do have capabilities to access and use their home-country entrepreneurial resources and opportunities. The authors further propose that home-country entrepreneurial capital can be systemically analyzed through the framework of the entrepreneurial ecosystem. The results imply that immigrant entrepreneurship as a social and economic phenomenon can be studied more holistically from both host- and home-country perspectives compared to the traditional research boundary of the host-country only.

The research focuses on the identification of home-country effects on immigrant entrepreneurship through the lens of the entrepreneurial ecosystem. Testable propositions provide directions for future empirical research on the field of immigrant entrepreneurship from a home-country perspective. The research concludes that a holistic immigrant entrepreneurship study should consider dual (host- and home-country) entrepreneurial ecosystems.

Immigrant entrepreneurs benefit from both host- and home-country entrepreneurial ecosystems. This paper suggests co-effects of dual entrepreneurial ecosystems lead to a high rate of entrepreneurship and business success within some immigrant groups. Policymakers can increase economic activities by developing and deploying programs to encourage immigrants to embed in host- and home-country entrepreneurial ecosystems.

Based on the framework of the entrepreneurial ecosystem, this paper brings a novel perspective to examining home-country effects on immigrant entrepreneurship. It theoretically conceptualizes that immigrants have higher entrepreneurship rates than native-born populations because they have access to extra home-country entrepreneurial capital.

Capital structure is an important corporate financing decision, particularly for companies in emerging economies. This paper attempts to understand whether the pandemic had any significant impact on the capital structure of companies in emerging economies. India being a prominent emerging economy is an ideal candidate for the analysis.

The study utilizes three leverage ratios in an extended market index, BSE500, for the period 2015–2021. The ratios considered are short-term leverage ratio (STLR), long-term leverage ratio (LTLR) and total leverage ratio (TLR). A dummy variable differentiates the pre-epidemic (2015–2019) and pandemic (2020–2021) period. Control variables are used to represent firm characteristics such as growth, tangibility, profit, size and liquidity. Dynamic panel data regression is employed to address endogeneity.

The findings point out that Covid-19 has had a significant, negative effect on LTLR, while the impact on STLR and TLR was insignificant. The findings indicate that companies based in a culturally risk-averse environment, such as India, would reduce the long-term debt to avoid bankruptcy in times of uncertainty.

The study covers the impact of the pandemic on Indian companies. Hence, generalization of the findings to global context might not be valid.

To maintain economic growth in the post-crisis period, Indian policymakers should ensure accessibility to low-cost capital. The findings provide impetus to deepen the insignificant corporate bond market in India for future economic revival.

Developing countries are struggling to revive the economies postpandemic. This is particularly true for Asian economies which are heavily reliant on banks for survival. This research finds evidence to utilize bond market as a source of raising capital for economic revival.

This work analyzes, through social-environmental reports, whether banks with higher transparency in social-environmental policies better safeguard financial stability in Brazil.

The analysis is carried out through a panel database analysis of the 42 largest Brazilian banks, representing 98% of the Brazilian financial system. Seeking to avoid spurious results, we followed rigorous methodological standards. Hence, we conducted an empirical analysis using a dynamic panel data model, we used the difference generalized method of moments (D-GMM) and the system generalized method of moments (S-GMM).

The results show that the higher the transparency of social-environmental policies, the lower the chance of possible stress on the financial stability of Brazilian banks. In sum, this study builds evidence that disclosing risks related to policies about sustainability can enhance financial stability. It is essential to highlight that social-environmental transparency does not have as direct objective financial stability.

The manuscript submitted represents an original work that analyzes whether banks with higher transparency in social-environmental policies better safeguard financial stability. Some countries, such as Brazil, have their potential for sustainable policies spotlighted due to their green territory and diverse natural ecosystems. Besides having green potential, Brazil is a developing country with a well-developed financial system. These characteristics make Brazil one of the best laboratories for studying the relationship between transparency in social-environmental policies and financial stability.

Framed within global policy debates over the need for private financial flows to align with the capital requirements of the Paris Agreement, this paper examines UK asset managers in their approaches to disclosing and managing climate risk. This paper identifies and evaluates climate risk management practices among this under-researched investor group in their capacity to address fundamental behavioural obstacles to low-carbon investment.

This paper takes an inductive approach to document analysis, applying content and thematic analysis to the annual disclosures of the 28 largest UK asset managers (by assets under management), including the investment management arms of insurance and pension companies.

The main takeaway from this research is that today’s climate risk management strategies hold potential to effectively address traditionally climate risk-averse investor behaviour and investment processes in the UK asset management context. However, this research finds that the use of environmental, social and governance (ESG) investment strategies to mitigate climate risks is a “grey area” in which climate risk management practices are undefined within broad sustainability and responsible investment agendas. In doing so, this paper invites further research into the extent to which climate risks are considered in ESG investment.

This paper contributes to research in sustainable finance and behavioural finance, by identifying the latest climate risk management techniques used among UK-headquartered asset managers and uniquely evaluating these in their capacity to address barriers to low-carbon investment arising from organisational behaviours and processes.

The purpose of this paper is to contribute to the analysis and grasp of accessible tourism, from its present into a medium-term future. It provides a socio-anthropological approach.

This paper uses the scenarios-planning analysis framework proposing four scenarios arising from the interaction of aforementioned driving forces. The author also use a trilemma to both form and evaluate scenarios. The criteria for the trilemma were (stakeholders, cooperation and prejudice).

The strength of combining a new set of driving forces, namely, empathy, apathy, certainty in economic profits and fear of economic losses, which would enable to draw four plausible scenarios into the future of accessible tourism within a scenarios-planning framework. The significance is to provide “food for thought” to address the future through a range of different concepts.

The main limitation is the difficulty to obtain honest answers about why the lack of development of accessible tourism.

Participant observation on both groups and individuals in vacation atmosphere. Also, in-depth interviews to different stakeholder representatives.

To try to explain to the stakeholders their wasted economic benefits and, at the same time, the opportunity of getting social prestige.

The main value is about considering the interplay of social concepts as empathy, apathy, “aesthetic prejudice” and fear of losses or faith in profits.

The purpose of this paper is to develop accessible tourism in two areas of Greece and Turkey. The areas of Drama in Greece and Mersin in Turkey have cooperated in the frame of MEDRA project to assess their potential and set up a plan for developing accessible tourism.

The choice of the two areas was not random. Mersin currently enjoys continuous development, as one of Turkey’s biggest ports and a free trade zone. Drama is a developing area in agricultural manufacturing and high-tech sectors with a rich physical environment which aspires to develop a healthy alternative tourism industry.

The findings include, amongst others, the identification of needs of tourists with disabilities, and the relevant historical evolution, legislative framework, international good practices, policy-improvement proposals, accessibility assessment in Mersin and Drama, and suggestions for developing accessible infrastructure together with the training of stakeholders.

Greece although made a lot of progress regarding the issues of disability and accessibility still is not on the same level as many European countries, while Turkey has a lot to learn in order to deal with accessibility from a holistic point of view.

Both countries owe a large percentage of their national income, to the tourist industry and seek ways to gain advantages in this highly competitive sector.

The successful implementation of the MEDRA project constitutes an example worthy of a wider application in the development of accessible tourism, not only in the two countries but also to countries with similar characteristics.

Literature suggests that integrated palliative care (IPC) increases the quality of care for palliative patients at lower costs. However, knowledge on models encompassing all integration levels for successfully implementing IPC is scarce. The purpose of this paper is to describe the experiences of IPC leaders in seven European countries regarding core elements, facilitators and barriers of IPC implementation and provides recommendations for future policy and practice.

A qualitative interview study was conducted between December 2013 and May 2014. In total, 34 IPC leaders in primary and secondary palliative care or public health in Belgium, Germany, Hungary, Ireland, the Netherlands, Spain and the UK were interviewed. Transcripts were analysed using thematic data analysis.

IPC implementation efforts involved a multidisciplinary team approach and cross-sectional coordination. Informal professional relationships, basic medical education and general awareness were regarded as facilitators of IPC. Identified barriers included lack of knowledge about when to start palliative care, lack of collaboration and financial structures. Recommendations for improvement included access, patient-centeredness, coordination and cooperation, financing and ICT systems.

Although IPC is becoming more common, action has been uneven at different levels. IPC implementation largely remains provisional and informal due to the lack of standardised treatment pathways, legal frameworks and financial incentives to support multilevel integration. In order to make IPC more accessible, palliative care education as well as legal and financial support within national healthcare systems needs to be enhanced.