Antioxidant properties of agri-food byproducts and specific boosting effects of hydrolytic treatments

Largely produced agri\u2010food byproducts represent a sustainable and easily available source of phenolic compounds, such as lignins and tannins, endowed with potent antioxidant properties. We report herein the characterization of the antioxidant properties of nine plant\u2010derived byproducts. 2,2\u2010Diphenyl\u20101\u2010picrylhydrazyl (DPPH) and ferric reducing/antioxidant power (FRAP) assays indicated the superior activity of pomegranate peels and seeds, grape pomace and pecan nut shell. An increase in the antioxidant potency was observed for most of the waste materials following a hydrolytic treatment, with the exception of the condensed tannin\u2010rich pecan nut shell and grape pomace. UV\u2010Vis and HPLC investigation of the soluble fractions coupled with the results from IR analysis and chemical degradation approaches on the whole materials allowed to conclude that the improvement of the antioxidant properties was due not only to removal of non\u2010active components (mainly carbohydrates), but also to structural modifications of the phenolic compounds. Parallel experiments run on natural and bioinspired model phenolic polymers suggested that these structural modifications positively impacted on the antioxidant properties of lignins and hydrolyzable tannins, whereas significant degradation of condensed tannin moieties occurred, likely responsible for the lowering of the reducing power observed for grape pomace and pecan nut shell. These results open new perspectives toward the exploitation and manipulation of agri\u2010food byproducts for application as antioxidant additives in functional

A Model to Reduce Internal Auditing Risk in SMEs

The financial statement may not contain correct or truthful information and, as a consequence, stakeholders’ interests may be damaged. To avoid such risk, legislators have established certain obligations concerning the auditing of disclosures. The paper has a double objective. Firstly, the audit risk approach used by the auditors within a specific small and medium enterprise (SME) is analysed. Secondly, a theoretical model of the limitations of typical risks involved in the SME auditing process is created. According to the audit risk approach, audit risk can be seen as the union of different risk categories, which can be more or less directly influenced by the conduct of the auditor. Such risk components influence each other. Every risk component can be more or less influenced by the small size of a SME. A model for the reduction of audit risk in an SME depends on the typical factors of an SME and the attentive and efficient planning of the audit activity

Wine sector as a driver of growth for the Italian economy

The wine sector is one of the most representative of the Italian economy, due to the fact that it is famous worldwide for its countless wines. Our research goals are twofold. The first is to examine the impact of the wine sector in Italy by comparing it with the manufacturing sector in Italy, which is particularly representative of the Italian economic texture, and analyzing the ability of wine products to attract foreign consumers. The second goal is to observe the changes within wine consumption that have occurred in recent decades, as a consequence of changes in the socio-demographic, cultural, political and economic behavior of the context in consideration, and also due to changes in beverage-sector demand. We formulated two research questions correlated to the above goals. The objective of the research was identified through an analysis of the national and international literature. In addition, a quantitative and qualitative survey was conducted, using a series of market data, in order to deduce the mechanisms acting as drivers in the wine sector. Hence, we used results derived from quantitative surveys carried out by market research companies on a reference population composed of Italian and foreign customers. Finally, we carried out 20 qualitative interviews with managers or owners of important wine Italian companies. It emerged that the wine sector represents an important driver in the Italian industry, due to the richness of the country’s landscapes and its resources in terms of human production and marketing capabilities. In addition, demand within the Italian wine sector was particularly sensitive to natural, socio-demographic, cultural, economic and political changes, as it is influenced by external factors linked to the macro-economic context, and by other factors linked to the perceptions and desires of individuals. The research presents several limitations. In order to overcome them, it would be interesting to compare the Italian wine sector to the wine sector in other countries or regions, such as Chile and California. Furthermore, using an econometric model, it would be interesting to quantify the impact of a series of external and internal variables on the wine business

Contacts on LinkedIn: equity crowdfunding platforms' networks and creators' innovation performance

Purpose. The purpose of this paper is to explore whether and how the innovation performance of start-ups and small and medium-sized enterprises (SMEs) that collect funds using equity crowdfunding (EC), i.e. creators (or proponents), and the EC performance are influenced by the social media networks (SMNs) in which EC platforms' managers and firms exchange their ideas with investors and customers.Design/methodology/approach. The empirical analysis is conducted on a sample composed by all the creators that collected funds in EC platforms over the three-year period 2018-2020. For each creator, the innovation performance is computed as the percentage of sales from new or significantly improved product and services compared to total sales of firm. For each campaign, the EC performance is considered as the ratio between the total amount of funding raised at the end of the campaign and the target capital for the campaign. To investigate EC platform social media activity, LinkedIn profiles of EC platforms managers are analyzed using the social network analysis (SNA) methodology, which permits to observe the quantity and the quality of managers' interactions with other users. A regression analysis is thus performed to observe the relationship between managers' LinkedIn activities, EC performance and creators' innovation performance.Findings. Data reveal that EC platforms managers display different activities in networking, with some individuals more active than others and more oriented to interact with business profiles rather than personal ones. The variables related to managers' LinkedIn activities are shown to impact both on the EC performance and on the ability of creators to innovate, suggesting the existence of a link between creators, EC platforms and the activity of the subject who manages it.Originality/value. The present study is the first to examine the link between the ability of creators to innovate and SMNs, focusing on the social links of platforms managers and considering the LinkedIn social media; moreover, the analysis is conducted analyzing the quality of the interactions in addition to their number. The study is original also in that rather than focusing on specific EC platforms it considers all those purposefully authorized by the Italian financial market supervisory authority over a three-year time span. From a managerial point of view, the observation of the relevance of social networks by personnel with specific professional skills reveals it can be a successful driver for operators in the sector, not only to safeguard their reputation, but to stimulate the processes of co-creation of value that is essential in the crowdfunding market