How are family businesses approaching the double materiality principle? A multiple case study
Year: 2025
Type: article
Abstract: Purpose Considering the new regulations on corporate sustainability reporting in Europe, the paper offers insights concerning the approach of family businesses to the double materiality principle. Specifically, the aim is to understand if such companies are embracing both perspectives of impact materiality and financial materiality and developing the same awareness and confidence for both. Design/methodology/approach To realize the research aim, after delving into the double materiality principle, qualitative research based on a multiple case study is carried out, examining two large Italian family businesses that are working to meet the Corporate Sustainability Reporting Directive requirements. Findings The main findings suggest that the family businesses analyzed are more focused on financial materiality than on impact materiality. The approach to the double materiality principle could be interpreted in light of the relationship between the company and its stakeholders: as the company’s role toward its stakeholders evolves from agent to steward, the awareness of the double materiality principle will also likely grow. Originality/value This paper offers an original contribution to the understanding of the approach to the double materiality principle of early adopters in the unique context of family businesses, a topic on which the literature is very poor, mainly because most of them have not yet undertaken the relevant analysis, except those that have done so voluntarily.
Source: Management Decision
Institution: University of Macerata
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4411277937