Maher Gassab (p), Salma Hichri (p), Rania Ben Hmida, Sana Kammoun

Ana Paula Paulino Da Costa

Microfinance has long been seen as a lever for reducing poverty and developing the entrepreneurial capacities of disadvantaged populations (Yunus, 2003 ; Armendáriz and Morduch, 2010 ). With the rise of FinTech, microfinance institutions benefit from broader access to markets, reduced transaction costs and better risk assessment, reconfiguring the boundaries of a sector historically rooted in proximity interactions.
This technological mutation raises essential questions concerning disparities in access to financial services and the pursuit of sustainable development objectives. It raises the question of the balance between technological innovation and territorial cohesion, and the risk of new economic and social divides emerging (Kenney and Zysman, 2019 ). Indeed, while some studies highlight the inclusive potential of FinTechs in peripheral, underbanked areas serving the most marginalized populations (Beck and al, 2018), others emphasize their tendency to reinforce spatial fractures by consolidating financial flows in already dynamic regions benefiting from digital infrastructures (Feldman and Kogler, 2010). This phenomenon is all the more worrying given that spatial disparities in the adoption of these technologies can amplify polarization and regional disparities rather than attenuate them.
The aim of this study is to show to what extent the integration of FinTech technologies can actually reduce inequalities in access to financing. In particular, we explore how these technologies can reduce (or reinforce) territorial inequalities in the allocation of financial resources earmarked for the fight against poverty and the ecological transition.
The study uses data from the Microfinance Exchange Market (MIX), covering nearly 2,000 microfinance institutions across different regions. The analysis is based on a dynamic panel model to capture the LT effects of FinTechs on financial inclusion, and to take account of regional heterogeneities. The study aims to contribute to the academic debate, by identifying the conditions under which FinTechs can truly act as a lever for financial inclusion and generate sustainable economic and social benefits, particularly in the most vulnerable regions. It also aims to provide concrete policy recommendations to guide the regulation of the sector towards reconciling technological development and the reduction of regional disparities.

Ana Paula Paulino Da Costa (p), Fernanda Gabriela Borger (p)

Marco Ciro Liscio

Micro and small enterprises (MSEs) play a crucial role in Brazil's economy, accounting for 93% of active businesses, 52% of formal employment, and 42% of the national wage mass. In cities with up to 50,000 inhabitants, MSEs provide about 60% of formal employment and serve as a fundamental buffer against economic crises. However, they are particularly vulnerable to crises that limit people’s mobility, such as sanitary and climate-related events. Despite their economic significance, MSEs remain on the periphery of climate transition policies, lacking access to technology, financing, and sustainable market opportunities. This study explores their potential contributions to climate adaptation and mitigation strategies, primarily based on the Ministry of Entrepreneurship, Micro, and Small Enterprises' (MEMP) directives. Furthermore, it proposes a transversal action plan to inform new public policies. The objective of this paper is to present a strategic development path for MSEs to navigate the climate change transition.
The research follows a case study methodology, structured in two phases. The first phase examines secondary data from public sources and academic studies to assess the profile of MSEs, their economic relevance, and their engagement with sustainability.
This study underscores the importance of integrating MSEs into value chains for a low-carbon economy, reinforcing their role in innovation and resilience-building. The second phase aims to develop a comprehensive strategy incorporating stable policies, financial incentives, and capacity-building programs—all crucial for unlocking the full potential of MSEs in sustainable development. The findings advocate for an inclusive approach that recognizes MSEs as key contributors to climate resilience and economic transformation.

Marco Ciro Liscio, Gagan Narang, Francesco Perugini (p), Paolo Sospiro

Irene Daskalopoulou

Sustainability certifications are widely recognized as key indicators of corporate responsibility, signaling a company’s commitment to environmental, social, and governance (ESG) principles. However, the extent to which firms adopt these certifications varies significantly based on multiple factors, including firm size, industry sector, and economic considerations. While previous research has examined these dynamics at a regional level – specifically within Italy’s Marche region – this study aims to expand the scope of analysis to a national level, providing a more comprehensive understanding of certification adoption trends across various industries in Italy.
The primary objective of this research is to explore the extent to which firm dimensions influences the adoption of sustainability certifications and how different economic drivers contribute to this process. To achieve this, the study will employ a two-step methodological approach. First, an automated web-scraping technique will be utilized to systematically collect data from company websites. This step will focus on assessing how firms present their certifications to external stakeholders, including consumers, investors, and regulatory bodies. By analyzing the visibility and communication strategies associated with these certifications, the study will provide an objective measure of their prominence and perceived importance within corporate narratives. The scraper will be validated using data from Accredia.
The second phase of the research will involve a quantitative analysis correlating the presence of sustainability certifications with key business and economic factors. These factors include firm size, annual revenue, industry sector, and other financial indicators that may influence a company’s ability and willingness to pursue certification. A particular emphasis will be placed on environmental sustainability certifications, given their growing significance in global business practices and regulatory frameworks. The study aims to determine whether larger firms are more likely to obtain sustainability certifications due to their greater financial resources, operational capacity, and heightened pressure from stakeholders, such as investors, consumers, and policymakers. Conversely, smaller firms may face significant barriers to certification adoption.
By examining certification adoption trends across different industries and firm sizes, this study will generate valuable empirical insights into the challenges and motivations influencing corporate sustainability practices in Italy. The findings will not only contribute to the academic discourse on sustainability and corporate responsibility but also offer practical implications for policymakers, industry leaders, and business associations. Understanding the factors that drive or hinder certification adoption can help inform targeted policy measures, financial incentives, and support programs designed to facilitate broader adoption of sustainability certifications.

Irene Daskalopoulou (p), Athanasia Karakitsiou

Tizaoui Hammadi

We propose a novel approach to social entrepreneurial ecosystems as resulting from individuals’ global values and aggregate contextual functionings. Our conceptual model combines Sen’s capabilities theory and the entrepreneurial ecosystem strand of research in order to discern between market-oriented and social entrepreneurial outcomes. We suggest that entrepreneurial outcomes derive from within entrepreneurial ecosystems and reflect the social values that individuals embrace, i.e. self-transcend and open to change values in the case of social entrepreneurial outcomes versus self-enhance and conservation values in the case of market oriented outcomes. Values and outcomes are subject to context-specific conversion factors, that is, ecosystem specific economic, resource-bases and institutional capabilities. As such, social entrepreneurship is a functioning of an entrepreneurial ecosystem characterized by a high propensity to create social wealth and solve social problems. We test the proposed model using European Social Survey data for Germany.

Tizaoui Hammadi (p), Garraoui Thouraya

Salma Mhamed Hichri

Innovation plays a crucial role in making the labour market more fluid and in combating unemployment in general, and graduate unemployment in particular, throughout the world and in Tunisia. It adjusts labour supply and demand in the labour market. In developing countries, and in Tunisia in particular, around half of this market is occupied by the informal sector, which is not very receptive to technological innovation. In this proposal, we explore the impact of ICT use on the employability of unemployed graduates in Tunisia. Our proposal is based on extensive fieldwork and studies that have produced commendable results in the capital Tunis, Tunisia. Based on fieldwork carried out in 2021 with more than 400 graduates living in Greater Tunis, we have been led to consider the contribution of innovation, in its broadest sense, to improving the employability of jobseekers in the ‘unemployed graduate’ category.
The first level of innovation concerns the institutional sphere, thanks to the public reforms of labour policy and the development of skills that the Tunisian state has been able to put in place using technological and organisational innovations. From a government perspective, innovation can help to align education with market needs and create dynamic labour markets. For graduates, innovation can be seen in three key stages. First, the development of their skills, which can be enhanced through online learning platforms such as Coursera and Udemy, coaching career coaching and mentoring via LinkedIn Learning, and virtual workshops offering practical training. Secondly, the job search is made more efficient through digital job portals such as LinkedIn and Indeed and others existing on the Tunisian market and dedicated to executives, social media such as Facebook, computer-assisted CV creation tools and virtual networking events that connect graduates and recruiters. Thirdly, recruitment and employment opportunities are being expanded through remote and hybrid working, freelancing on platforms such as Upwork and Fiverr, entrepreneurship through social media and e-commerce platforms, and personal branding via LinkedIn and online portfolios. By integrating innovation into every stage of the employment process, graduates can improve their job prospects and adapt to changing labour market demands.
Last but not least, and combining technological and social innovation, is the organisation of mass social movements via social networks, mainly FB, to assert the rights of unemployed graduates.