The Development of Gazelles at the Turn of the Pandemic Crisis: Greater Attention to the Generation of Social and Environmental Well-being?

This chapter aims to investigate whether firms capable of becoming gazelles at the turn of the COVID-19 crisis show a higher level of attention toward generating social and environmental well-being than their non-gazelle pairs. Relying on economia aziendale and upper echelons theories, the work employs quasi-binomial regression analysis to distinguish the factors allowing to predict the level of attention devoted to these topics by a sample of Italian firms and whether gazelles are more inclined to them. The work focuses on the Italian context considering that it was the first and one of the most affected by the COVID-19 crisis in Europe. The findings show a significant orientation of gazelles toward sustainability. The chapter contributes to the literature on start-ups, gazelles, innovation, and sustainability, binding together such literature’s branches. The novelty of the work consists of providing empirical and theoretical insights into the role of gazelles in social systems coping with relevant social and economic crises. Such reflections are provided in light of the economia aziendale theory, which discusses the role of entrepreneurs in our society. Further, the work also presents managerial and policymaker implications regarding orienting and supporting the business in times of crisis.