Template-Type: ReDIF-Paper 1.0
Author-Name: Carlo Bellavite Pellegrini
Author-X-Name-First: Carlo
Author-X-Name-Last: Bellavite Pellegrini
Author-Email: carlo.bellavite@unicatt.it
Author-Workplace-Name: Dipartimento di Politica Economica, DISCE, & Centro Studi Economia Applicata (CSEA), Università Cattolica del Sacro Cuore
Author-Name: Laura Pellegrini
Author-X-Name-First: Laura
Author-X-Name-Last: Pellegrini
Author-Email: laura.pellegrini@unicatt.it
Author-Workplace-Name: Dipartimento di Politica Economica, DISCE, & Centro Studi Economia Applicata (CSEA), Università Cattolica del Sacro Cuore
Author-Name: Claudia Cannas
Author-X-Name-First: Claudia
Author-X-Name-Last: Cannas
Author-Email: claudia.cannas@unicatt.it
Author-Workplace-Name: Centro Studi Economia Applicata (CSEA), Università Cattolica del Sacro Cuore
Title: Circular Economy Approach: The benefits of a new business model for European Firms 
Abstract: This study investigates the relationship between Firms’ Performance and the adoption of a Circular Economy (CE) Approach. Considering different “recovery-recycling” models embraced by European countries between 2003 and 2016, the empirical analysis aims to highlight benefits related to CE approach. Specifically, we built a sample of panel data, which involved 60 European listed companies producing several types of packaging (including plastic, glass, cardboard and metal), and raw materials (glass and paper). Over the last decades, the increasing attention to Circular Economy issues in Europe has been followed by an important regulation’s activity aimed to define a common policy on the production and treatment of waste. However, European countries due to their different economic conditions, experienced more or less effectively benefits of CE models which are still under-explored. Our empirical findings confirm previous economic literature (Ferreira N. et al. 2014; CIWM, 2016), pointing out better Perfomances for European companies adopting “Extended Producer Responsability” (ERP) scheme, such as PRO's Competition model. Empirical evidences suggested a positive and highly significant impact on Firms’ Performance as results of more competition among recovery organizations which can be justified by lower costs for companies joining collective recovery schemes. 
Length: 40 
Creation-Date: 2021-07
File-URL: http://dipartimenti.unicatt.it/politica-economica-DIPE0018.pdf
File-Format: Application/pdf
File-Function: First version, 2021
Number: dipe0018
Classification-JEL: C23, Q01, Q56
Keywords: Circular Economy, Firms’ Perfomance, Extended Producer Responsability (ERP), Stock Return
Handle: RePEc:ctc:serie5:dipe0018