Purpose This study aims to analyze the territory as a distinctive factor through which the concept and practice of “Made in Italy” operates. Specifically, the study considers the role of local and sub-national entrepreneurial collaborations that preserve and enhance factors such as history, style and talent as the essence of Italian “quality” and as the pillar of Italian territorial capitalism. Design/methodology/approach The research examines this Italian phenomenon by investigating small and medium enterprises (SMEs) that successfully compete abroad (and also in the domestic market) with a “glocal” approach, adopting the entrepreneurial formula of industrial districts. Findings The results indicate that international expansion is becoming increasingly more complex (as is every growth/development strategy) but that “glocalism” could represent a potential driver for the success of internationalization strategies. Specifically, for SMEs operating in industrial districts, territorial capitalism could emerge as a unique competitive factor, because it is a component of local structural capital and global reputational capital, as in the case of “Made in Italy.” Originality/value In an increasingly globalized market environment, many companies look to foreign markets to maintain and expand competitive advantage and business performance. Once the companies embark on this endeavor, organizations are involved in governing and managing these networks of finance, production and communication and the distribution-related relationships that constitute globalization. The push to engage in international development is currently imperative for SMEs, which need to extend their business engagement beyond conventional local markets and identify and exploit their distinctive competitive advantage to be able to succeed. One possible way of achieving this is the close interaction with the local territories in which these enterprises reside.

The determination of the expected return on equity based on the capital asset pricing model (CAPM) is an internationally recognized method, although the underlying theory is not without criticism and therefore leaves sufficient room for interpretation. Strictly speaking, the expected return on equity cannot be determined per se, as all parameters of the CAPM have to be estimated and contain measurement errors. The statistical measurement errors would have to be included in the calculation of the expected return on equity. The paper discusses the current view on how the expected return on equity is determined in the Germen‐speaking countries and presents an approach to transfer the measurement errors of the parameter risk‐free rate, market risk premium, and company beta to the calculated return on equity using the Gaussian law of error propagation.

Abstract:This study investigated the potential of a specifi c trend, defi ned as the relative change of accounting ratios for two consecutive years, to improve the classifi cation accuracy and model performance of insolvency prediction models based on multivariate linear discriminant analysis. The results show that the respective trend can include information from both consecutive years, but this informational content could not be exploited to improve early detection of corporate crises and insolvencies.

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2020 revealed the vulnerability of the healthcare systems in most countries. It also highlighted their failure to generate serious progress in the fulfillment of Sustainable Development Goal 3 (SDG 3): Ensure healthy lives and promote welfare for all at all ages. One of the key problems inhibiting its progress is the lack of financial resources. Based on a comprehensive meta-analysis of the literature related to SDG 3 and its investment, it aims to demonstrate that lack of appropriate academic support is a part of the failure to generate serious progress in the fulfillment of SDG 3. To do this academic literature published in the period 2010–2019 is analyzed. SciVal Elsevier, VosViewer, and Google Trends tools are applied for analysis. The results show that there is a significant interest in the academic circles on SDG 3 alone. However, this interest is concentrated toward its medical aspects while economic aspects, including investment, are poorly represented. This study shows that the reason for the current investment gap in SDG 3 is the lack of academic support to provide a theoretical, methodological, and analytical framework for tackling the financing problem for SDG 3.