Sabina Lacmanović

Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirković”

Pula, Croatia

E-mail: sabina.lacmanovic@unipu.hr

ORCID 0000-0003-2827-1307 

The comparative analysis of hybrid purpose companies in the EU: Lessons and policy implications

Tea Hasić

Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirković”

Pula, Croatia

E-mail: tea.hasic@unipu.hr

ORCID 0000-0001-6079-1156

Marinko Škare

Juraj Dobrila University of Pula, Faculty of Economics and Tourism “Dr. Mijo Mirković”

Pula, Croatia

E-mail: mskare@unipu.hr

ORCID 0000-0001-6426-3692

Abstract. This study conducts a comparative analysis of hybrid purpose companies in the EU, focusing on Società Benefit in Italy, Sociedades de Beneficio e Interés Común (SBIC) in Spain, and Société à Mission in France. These companies pursue public benefits alongside profit-making, representing an innovative legal framework to address contemporary environmental, social, and economic challenges. The research objectives include systematically evaluating and comparing the legal frameworks with a focus on directors' responsibilities, transparency requirements, and control mechanisms; analysing the organisational perspective of acquiring benefit corporation status; presenting key statistics on growth trends, sectoral distribution, and performance indicators; and comparing mission reports of relevant case studies. Qualitative data analysis was implemented using publicly available secondary data and case study analysis. The results show significant similarities and specific differences between the models, especially in control mechanisms. The Italian model provides stakeholders with public enforcement mechanisms against misleading practices, while the French model relies on mission committees and independent third-party assessments. The Spanish model, introduced in 2022, is expected to develop similar control mechanisms. The growth trends and overall performance indicate that companies recognise the value of adopting this legal framework. The comparative analysis provides valuable insights for EU countries considering introducing similar hybrid-purpose models.

Received: December, 2023

1st Revision: July, 2024

Accepted: November, 2024

DOI: 10.14254/2071-789X.2024/17-4/13

JEL Classification: K29, L21, L31, M14, G30, O35

Keywords: Benefit Corporation, Società Benefit, Sociedades de Beneficio e Interés Común (SBIC), Société à Mission, Comparative analysis, Hybrid purpose companies