Journals Information
Universal Journal of Accounting and Finance Vol. 13(4), pp. 164 - 179
DOI: 10.13189/ujaf.2025.130402
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Financial Sustainability in Italian Food Cultural Heritage Organizations: An Empirical Analysis
Nadia Cipullo *
Department of Human Sciences, Universit脿 degli Studi Link, Italy
ABSTRACT
This study examines the counterintuitive relationship between economic performance and financial sustainability through empirical analysis of 100 Italian food heritage-based organizations. Despite theoretical expectations of a positive correlation between economic value creation and financial health, findings reveal a complex relationship: organizations reporting high economic sustainability often struggle with financial sustainability (r=-0.078). This pattern reflects the distinctive mission-driven nature of heritage organizations that prioritize territorial and community benefits over organizational financial returns. The research documents how 99% of organizations achieve moderate to high financial sustainability (levels 3-4). Through correlation analysis and comparative analysis, we identify the economic impact scale (r=0.374) and heritage awareness (r=0.253) as primary predictors of financial sustainability. Organizations demonstrate high self-assessed scores across sustainability dimensions (means: environmental 4.28, cultural 4.15, social 4.13, economic 4.11), contrasting with modest financial sustainability scores (mean = 3.46). Climate analysis reveals that 84% of organizations identify climate change as their primary challenge, with these organizations showing lower financial sustainability (3.41) compared to others (3.67). The findings suggest structural challenges in value capture mechanisms and difficulties monetizing public goods like heritage preservation, with implications for financing mechanisms for cultural preservation.
KEYWORDS
Financial Sustainability, Economic Performance, Food Cultural Heritage Organizations, Value Capture, Cultural Preservation, Organizational Performance
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Nadia Cipullo , "Financial Sustainability in Italian Food Cultural Heritage Organizations: An Empirical Analysis," Universal Journal of Accounting and Finance, Vol. 13, No. 4, pp. 164 - 179, 2025. DOI: 10.13189/ujaf.2025.130402.
(b). APA Format:
Nadia Cipullo (2025). Financial Sustainability in Italian Food Cultural Heritage Organizations: An Empirical Analysis. Universal Journal of Accounting and Finance, 13(4), 164 - 179. DOI: 10.13189/ujaf.2025.130402.