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The purpose of this paper is to investigate the effect of firm characteristics on forward-looking disclosure (forward-looking information (FLI)) within the context of integrated reporting (IR). The study assesses the extent of FLI provided in integrated reports and empirically fills the research gap into the topics of FLI disclosed in the IR.

A manual content analysis is run to investigate the level and the topics of FLI in 282 integrated reports available in the International Integrated Reporting Council (IIRC) website. A disclosure index composition consisting of 27 information items is developed from the list of content elements comprised in the Integrated Reporting Framework (IIRC, 2013). Three hypotheses are proposed and eight models are tested within a multivariate regression analysis in order to explore the effects of three main variables (firm size, profitability and leverage) on FLI.

The study confirms that firms are reluctant to provide FLI in integrated reports. The results show that profitability and firm size have a statistically significant relationship with the level of specific topics of FLI. Conversely, leverage is found to be insignificant in explaining the extent of FLI.

To improve the reliability of findings presented in this study, several others may be conducted by inspecting more variables that may affect the extent of FLI or by increasing the number of companies included in the sample.

The results provide comprehensive insights into the current forward-looking disclosure practices of early adopters in integrated reports and can be a useful evidence for preparers of it. This paper has also practical implications especially for managers and regulators (e.g. IIRC) since it encourages further efforts to promote FLI if firms want that the disclosure offered in the IR is perceived as “informative” by their significant stakeholders.

The research adds to the prior disclosure literature concerning FLI since acquired results are ambiguous. There are a very restricted number of studies that have explained the variation of FLI in the light of firm characteristics and no study has analyzed this research topic within the context of IR.

This study aims to investigate the impact of environmental performance, social responsibility and corporate governance (ESG) on bank performance (BP) in the Italian banking sector. It analyzes the relationships between 10 dimensions of ESG pillars and BP indicators during the period 2016–2020.

This study examines a sample of 105 Italian banks and develops three econometric models to verify the effect of ESG initiatives on BP indicators. The independent variables are the ESG dimensions collected from the Refinitiv database, whereas the explanatory variables are performance indicators measured through accounting and market variables.

The findings show that ESG policies negatively affect operational and market performance in the banking sector, suggesting that Italian banks have not fully embraced strong sustainability procedures. However, the relationships between ESG dimensions are mixed if measured individually. The results show a significant positive impact of emission and waste reductions on financial and operating performance, but regarding social aspects, it is proved that better product responsibility decreases accounting performance.

This study offers an in-depth examination of ESG practices in relation to current and future performance. In particular, the findings provide practitioners and academics with an actual set of predictors in the ESG area to improve BP.

To the best of the authors’ knowledge, this is the only study that has investigated the impact of ESG issues on BP in Italy. Few prior studies have used all dimensions of ESG policies at a disaggregated level to investigate their effect on various performance indicators.

The purpose of this paper is to investigate the relationship between gender diversity and the risk profile of Italian banks during the period 2015–2019. This study examines whether the presence of female board directors or top executives has any significant effect on bank risk-taking.

To explore the influence of women on bank risk-taking, the authors analyzed a sample of 387 Italian banks and developed an econometric model applying unbalanced panel data with firm fixed effects and controls per year. Within a multivariate regression model, the authors considered five risk dimensions to verify the effect of gender diversity.

The findings suggest that female board directors and executives are considerably more risk averse and less overconfident than their male colleagues, thus confirming a negative causality between risk-taking and gender diversity. The results reveal that banks headed by women are less risky because they report higher capital adequacy and equity to assets ratios. As credit risk in female-led banks is no different from male-led ones, higher capital adequacy does not derive from lower asset quality because it is linked to the higher risk aversion of female directors and top managers.

From a theoretical standpoint, the results suggest that having women in executive positions entails different risk implications for Italian banks; from a managerial perspective, the results highlight conditions that may promote the role of women in the banking sector. The conclusions are of particular significance because they provide some support for the view that regulators should favor gender quotas in the board management of banks to reduce risk-taking behavior.

This paper offers an in-depth examination of the risk practices of banks and it attempts to bridge the gap in prior literature on the risk profile of the Italian banking industry given that few empirical studies have examined the determinants of risk-taking in this field, to date. The findings on the higher risk aversion of women directors advance the understanding of the determinants of risk-taking behavior in banks, suggesting that gender quotas in bank boards can contribute to reducing risk-taking behavior. This also unveils some policy implications for bank regulatory authorities.

The purpose of this paper is to investigate the relationship between bank-specific characteristics and profitability in European banking sector to find the role of internal factors in achieving high profitability.

A regression analysis is built on an unbalanced panel data set comprising 175 observations of 35 top European banks over the period 2009-2013. To this end, the empirical data are collected from Bankscope and a comprehensive set of internal characteristics is examined.

All the determinant variables included in the model have statistically significant impacts on European banks’ profitability. However, the effects are not uniform across profitability measures. Regression findings reveal that size and capital ratio are significant company-level determinants of bank profitability in Europe, while higher loan loss provisions result in lower profitability levels. Findings also suggest that banks with higher deposits and loans ratio tend to be more profitable but the effects on profitability are statistically insignificant in some cases.

This study has considerable policy implications, as the performance of the European banking sector depends on its efficiency, profitability and competitiveness. In view of these findings, some suggestions may be functional for bank regulatory authorities to intensify and sustain robustness and stability of the banking sector.

The results provide interesting insights into the characteristics and practices of profitable banks in Europe. Few econometric studies have empirically explored the determinants of bank profitability in Europe so far, even though similar studies have been conducted in several developed countries. Therefore, this paper tries to close an important gap in the existing literature improving the understanding of bank profitability in Europe.

This study explored how board diversity affects environmental, social, and governance (ESG) performance in the Italian banking sector. Specifically, this study examined whether the presence of specific corporate governance (CG) characteristics (board diversity) in Italian Cooperative Credit banks is related to ESG dimensions.

The authors examined a sample of 247 Italian Cooperative Credit banks for the period 2017–2021 and developed an econometric model by applying unbalanced panel data with firm fixed effects and controls per year. To verify the research hypotheses, the authors analyzed board diversity in terms of board attributes variables (size, gender diversity, age, activity, independence and corporate social responsibility/sustainability committee (CSR) and measured ESG dimensions using the ESG score provided by Refinitiv.

The findings suggest that board size, independence and the existence of a CSR/sustainability committee positively affect banks' ESG performance, while no significant relationship between board average age and ESG performance was found. The study also explored how the critical mass of women on a board affects ESG performance by testing the positive impact of gender diversity on ESG dimensions only up to a certain threshold of female directors.

This study is highly relevant to managers and investors who consider ESG issues in their decision-making processes. The findings support regulators by offering insights into ways to improve ESG performance through the specific design and application of governance mechanisms.

From a practical perspective, this investigation has implications for both practitioners and regulators, suggesting that chief executive officers (CEOs) and managers should pay more attention to CG aspects to improve ESG performance and that policy-makers should give greater consideration to these aspects of CG in their efforts to enhance ESG performance.

This study offers an in-depth analysis of banks' ESG practices and attempts to bridge the gap in the literature on ESG in the Italian banking industry. This study is the first to investigate the relationship between CG variables and ESG dimensions in this context.

The purpose of this study is to inspect factors influencing profitability in the Italian hospitality industry during the period 2008-2016.

This paper examines the profitability and its determinants using a sample of 2,366 Italian hotels. The author applies a multidimensional measure of profitability comprising return on equity, return on assets, occupancy rate and gross operating profit per available room. The author investigates variables influencing performance and includes them into five groups: market variables, business model, ownership structure, management education and control variables.

The results show that financial crisis, business model and ownership structure affect hotel firms’ profitability. Particularly, findings suggest that size, internationalization, location, accommodation as first activity and chain affiliation influence profitability positively.

Results confirm the importance of firm-specific factors for evaluating the profitability of a hotel firm. Findings also provide new evidence for academics to assess factors that would guarantee profitability of hotels in developed countries such as Italy.

This investigation offers valued information and strategic suggestions for hotel investors, hotel owners, hotel managers, tourism playmakers and government.

This paper offers an in-depth examination of the practices and characteristics of profitable hotels in Italy. Few empirical studies examined the determinants of performance in the European and Italian hospitality field so far. Hence, this study attempts to bridge the gap in prior literature on profitability of the Italian hospitality industry.

The aim of this study is to undertake a systemic literature review (SLR) of horticultural therapy and to explore whether its inclusion in a healthcare programme can enhance hospitalised children's well-being.

An empirical study was developed using a mixed methods approach to monitor stakeholders' perceptions of horticultural therapy. Specifically, hospitalised children (N = 31) and their families (N = 21), as well as medical and nursing staff (N = 3), were engaged in the empirical study. Qualitative and quantitative surveys were developed, involving two paediatric units in an Italian hospital.

The authors’ findings show a significant improvement of children's mood and psycho-physical well-being following horticultural therapy. The authors found positive effects of interactive horticultural therapy on hospitalised paediatric patients and their parents. Parents perceived a positive influence on their mood and found the therapy very beneficial for their children. Qualitative analyses of children's and parents' comments (and related rankings) revealed the helpful support role of horticultural therapy in dealing with the hospitalisation period. There is a very limited number of studies that have inspected co-therapy implementation in paediatric hospitals, and to the best of the authors' knowledge, no study has yet examined the effect of horticultural therapy in such a context. The practice of horticultural therapy with children in health settings has been documented in some Italian hospitals, but its effectiveness has not yet been well established in the literature.

The authors’ findings could provide useful insights to clinicians, health managers and directors in creating and sustaining a successful group co-therapy programme under the managed healthcare system.

The aim of this paper is to review the main results of accounting research literature examining the role of fair value accounting (FVA) within financial crisis. This research analyzes theoretical and empirical studies on the controversial topic about FVA and its alleged pro-cyclicality in the context of the financial crisis to offer solid reflections for improving the fair value research agenda.

This paper consists of a descriptive literature review. Theoretical and empirical research studies were investigated and then systematized in a framework to guide a literature-based analysis and critique of the relevant literature published about this topic.

The review reveals that there has been only a limited amount of research into the role of FVA within the financial crisis. This topic has not been researched extensively, and there is no empirical evidence that FVA caused the financial crunch and the subsequent financial crisis.

The restricted amount of literature that directly deals with FVA in the context of the financial crisis is the main limitation of this paper. The specificity of the theme narrows the coverage. However, the adopted research methodology enabled the main contributions concerning this issue to be collected, to realize a concise and comprehensive portrait of the debate surrounding FVA and the financial crisis.

This paper can be of use to both researchers and practitioners interested in investigating strengths and weaknesses of the fair value concept for accounting purposes. The paper sets out the main findings of the academic literature and identifies future avenues of theoretical and practical research which may support standard setters to draw up improved accounting regulation.

Few existing studies consist of a literature review that examines theoretical and empirical researches on the influence of FVA on the financial system. This review offers a comprehensive overview on research literature concerning the responsibility of FVA in causing the financial crisis. The main contribution of this paper relates to further understanding the role and effects of accounting matters concerning fair value in a broad sense within the context of the financial crisis.