Popular Financial Reporting in Heritage and Cultural Hybrid Organizations: The First European Experience

Paolo Pietro Biancone, Silvana Secinaro, Valerio Brescia, Federico Chmet


The research objective is to highlight how the Popular Financial Reporting applied to a cultural sector can increase transparency and accountability involving citizens and members. Moreover, through the tool, it is possible giving immediate feedback on the transformation of the inputs into outputs and the absorption of resources provided by the public through funding in cultural impact. The analysis is conducted through a "Circolo dei Lettori" case study; it is a hybrid organization. The legal form is of a private foundation with public participation. The initiative of the Piedmont Region (Italy), the "Circolo dei lettori" is a cultural center. The role of the "Circolo dei Lettori" is to make melting 'pot expressive and influenced by the hurricane of stories, signals, and emotions from the digital society and revitalization of culture with presentations and meetings. The use of the resources made available is strictly linked to the sustainability of the creative industries. Therefore, an instrument that guarantees transparency, participation, and control at the same time is essential. Very often, there is not a real perception of the resources made available and of the results obtained, leading to a removal of the financing partners and the stakeholders. The integration of the theory developed through reality, together with different currents of thought in conjugation with practical evidence, is essential to define knowledge better. In particular, the analysis highlights the characteristics of the Popular Financial Reporting used for the first time in the cultural sector to increase sustainability, transparency, and accountability.

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DOI: https://doi.org/10.5430/ijba.v11n3p43

International Journal of Business Administration
ISSN 1923-4007(Print) ISSN 1923-4015(Online)


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