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1 – 10 of over 20000Gaetano Matonti, Jon Tucker and Aurelio Tommasetti
This paper aims to investigate auditor choice in those Italian non-listed firms adopting the “traditional” model of corporate governance. In Italy, non-listed firms can choose…
Abstract
Purpose
This paper aims to investigate auditor choice in those Italian non-listed firms adopting the “traditional” model of corporate governance. In Italy, non-listed firms can choose between two types of auditor: the Board of Statutory Auditors (BSA), that is the statutory auditors, or an “external” auditor. At the same time, a BSA conducts the administrative auditing for all companies with equity exceeding €120,000.
Design/methodology/approach
The paper estimates a logistic regression model of firm auditor choice between an external auditor and the BSA, which incorporates variables proxying for both agency conflict and organizational complexity effects.
Findings
The results show that of the potential agency factors, only board independence drives auditor choice, whereas organizational complexity and risk factors including firm size, investment in inventories, subsidiary status and complexity drive auditor choice. These results may be explained in the administrative audit role of the BSA, which monitors both day-by-day firm operations and the financial statements preparation “project”. Stakeholders as a result are reassured that, in general, their interests are protected. Finally, it was found that legal form and voluntary International Financial Reporting Standards compliance exert an impact on auditor choice.
Originality/value
The paper provides support for an internal yet independent auditing body such as the Italian BSA as a wider model for corporate governance in European non-listed firms (OECD, 2004 and 2015). The BSA as an administrative and financial auditing body made up solely of independent highly qualified professionals can work within the firm on an operational basis, and in so doing can increase stakeholder protection.
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Francesco Calza and Renato Passaro
Unilever‐Sagit is the main Italian competitor in the Italian frozen food market. The company has very recently innovated its distribution channel by creating a private Electronic…
Abstract
Unilever‐Sagit is the main Italian competitor in the Italian frozen food market. The company has very recently innovated its distribution channel by creating a private Electronic Data Interchange (EDI) network. Examines the effects generated by the implementation of EDI technology on supply chain management. Discusses the theoretical aspects of the impact of EDI on strategic management of logistics and examines the Unilever‐Sagit EDI network in detail.
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The purpose of this paper is to propose a reflection on the importance of individual environmental protection, which recognizes the right of every citizen to take action to obtain…
Abstract
Purpose
The purpose of this paper is to propose a reflection on the importance of individual environmental protection, which recognizes the right of every citizen to take action to obtain compensation for environmental damage, as a damage to his or her existential condition. One of the most discussed environmental issues in Italy today is the lack of personal protection because the European legislator has provided for a public protection of environmental damage.
Design/methodology/approach
Design/methodology/approach based on the analysis of a well-known environmental disaster, the case of ex Ilva, the author shows how in Italy there is a dangerous lack of protection in environmental matters that contrasts with the consideration of the environment as a fundamental constitutional value of Italian and European law and the affirmation of the principle of sustainable development.
Findings
Findings the reconstruction of the environment as a common good aimed at realizing the fundamental needs of the person according to the theory of common goods and damage to the environment as an existential damage finds in the pronouncement of the European Court relevant confirmations. As a result of an individual legitimation alternative to the choice of the European legislator to confine the protection in the public sector.
Originality/value
This work will examine recent Italian cases concerning environmental disaster, the case of ex Ilva. This paper is the original work of the author and has not been submitted elsewhere for publication.
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Enrico Berbenni, Chiara Cantù and Stefano Colombo
The purpose of this paper is to investigate the key drivers of coopetition by adopting a managerial and economic framework. A case of coopetition failure is investigated by means…
Abstract
Purpose
The purpose of this paper is to investigate the key drivers of coopetition by adopting a managerial and economic framework. A case of coopetition failure is investigated by means of a historical example focused on the Egyptian adventure of the Italian banks in the first decades of the XX century.
Design/methodology/approach
The authors adopt a qualitative case study and a flexible pattern matching approach to develop theoretical ideas. Because the flexible pattern matching approach was adopted, the authors build the analysis on a tentative analytical framework specified a priori to provide guidance and focus. This approach allows a theory-driven research paradigm. The historical case study is mainly grounded on original sources drawn from some major banking and institutional archives.
Findings
While several scholars emphasised the relevance of external drivers, the literature has paid less attention to how relational and internal drivers combine. The historical case suggests that key mechanisms supporting the success of coopetition concern planning of common goals, conflicts management, alignment and formalisation of governance. In this vein, internal and relational dimensions seem to be more relevant than environment-context dimension. In addition, the historical example shows that an intra- and inter-firm alignment is required to pursue the implementation of a coopetitive strategy. This suggests the relevance of a holistic approach to investigate coopetition. Further evidence confirms the role of governance mechanisms for the success of coopetition.
Originality/value
The main contribution of this study is the re-consideration of the drivers of coopetition. In particular, the role of coopetition drivers has been investigated using a historical event: the Italian multinational banking in Egypt in the interwar years.
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Samantha Fairclough and Evelyn R. Micelotta
In this paper, we draw attention to the influence of the institutional logic of family upon a broad range of organizations, and argue that their significance has not been fully…
Abstract
In this paper, we draw attention to the influence of the institutional logic of family upon a broad range of organizations, and argue that their significance has not been fully realized within the realm of institutional theory and research. Drawing on extant literature, publicly available documents, and interview data, we highlight the prominence of the family logic in the Italian legal sector, where there is a dearth of family firms and the existence of a competing professional logic that interacts with the familial logic. Our research suggests that, even in a setting where logics of capitalism and profession dominate, the organizational form and practices of Italian law firms are significantly influenced by the family logic: firms remain small, resistant to mergers and forms of internationalization, and have successfully resisted the encroachment of invading foreign legal practices. We discuss the significance of the family logic and its manifestations in organizations, and map out future research directions about how multiple logics interact and reinforce each other in national settings.
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Samantha Fairclough and Evelyn R. Micelotta
In this paper, we draw attention to the influence of the institutional logic of family upon a broad range of organizations, and argue that their significance has not been fully…
Abstract
In this paper, we draw attention to the influence of the institutional logic of family upon a broad range of organizations, and argue that their significance has not been fully realized within the realm of institutional theory and research. Drawing on extant literature, publicly available documents, and interview data, we highlight the prominence of the family logic in the Italian legal sector, where there is a dearth of family firms and the existence of a competing professional logic that interacts with the familial logic. Our research suggests that, even in a setting where logics of capitalism and profession dominate, the organizational form and practices of Italian law firms are significantly influenced by the family logic: firms remain small, resistant to mergers and forms of internationalization, and have successfully resisted the encroachment of invading foreign legal practices. We discuss the significance of the family logic and its manifestations in organizations, and map out future research directions about how multiple logics interact and reinforce each other in national settings.
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Renato Passaro, Ivana Quinto and Antonio Thomas
The purpose of this paper is threefold: first, to shed light on the increasing start-up competitions (SUCs) phenomenon; second, to provide an interpretive framework to understand…
Abstract
Purpose
The purpose of this paper is threefold: first, to shed light on the increasing start-up competitions (SUCs) phenomenon; second, to provide an interpretive framework to understand whether the SUCs have the potential to be effective entrepreneurial learning environment; third, to analyse the different roles of public and private actors in organizing SUCs.
Design/methodology/approach
The paper presents a cross-section analysis of the Italian SUCs population. In total, 77 competitions are analysed on the basis of different criteria which should properly mirror their distinguishing structural features, helping understand the potential of SUCs as learning environments.
Findings
The recent increase in the number of SUCs has been mainly fuelled by private actors. Moreover, Italian SUCs show some features that make them rich learning environments. Private and public actors play different roles, as confirmed by statistical tests performed. Privately organized SUCs follow mainly a market-oriented approach, while publicly organized ones are more education oriented.
Research limitations/implications
The findings cannot be easily generalized mainly due to the peculiarities of the Italian context.
Practical implications
Soft forms of regulation should be defined to strengthen those features which could potentially support the entrepreneurial learning processes. In this view, SUCs should be part of a start-up friendly ecosystem where actors (startuppers, incubators, venture capitalists) are effectively coordinated with each other.
Originality/value
Despite the remarkable diffusion of SUCs, there are significant gaps in literature about this phenomenon. Given the lack of a systematic and comprehensive analysis of SUCs as effective entrepreneurial learning environments, the paper represents an important starting point.
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Antonella Bilotto and Maria Guercio
The archival communitys interest in building records management programs has known a recent development at international level and in various sectors. This is increasingly…
Abstract
The archival communitys interest in building records management programs has known a recent development at international level and in various sectors. This is increasingly relevant in the area of corporate records, where the RM principles and methods have been seriously neglected – specifically in the Italian tradition, investigated here. This new interest has many causes – among others, the improvement of business procedures whose efficiency and effectiveness are strictly required in the information society – but presents also contradictions usually not discussed enough within each tradition. The article tries to analyse both the problems and advantages connected with the organization of a RM system in a corporate environment, including as a basic component a summary of the theory and practice developed in Italy in this area and recently updated for digital resources.
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Guido Marseglia, Elisa Rivieccio and Carlo Maria Medaglia
The purpose of this paper is to set out ideas regarding a systematic approach that defines the Italian National energy strategies, considering the standards imposed from European…
Abstract
Purpose
The purpose of this paper is to set out ideas regarding a systematic approach that defines the Italian National energy strategies, considering the standards imposed from European Union.
Design/methodology/approach
A conceptual framework to estimate a model to define the energy policies for different sectors in the Italian case is underlined. The aims of Italian energy strategy in the worldwide scenario are discussed. The authors have considered the relations between the environment and the human impact on the energy conversion process by means of a conceptual method.
Findings
The actions considered to reach the aims of energy policies objectives are highlighted. This research aims to inform future development in the topic area, considering future perspectives and socio-economical implications for Italy.
Originality/value
The paper will be of interest to firm managers, ecologists and policymakers with a particular interest in energy policies, considering socio-technical implications. The framework can be applied for facilitating discussions or for scenario planning.
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Massimo Biasin, Emanuela Giacomini and Anna Grazia Quaranta
The purpose of this paper is to investigate the influence of the Italian real estate investment trusts (REITs)' governance and regulatory structure on the market prices discount…
Abstract
Purpose
The purpose of this paper is to investigate the influence of the Italian real estate investment trusts (REITs)' governance and regulatory structure on the market prices discount to net asset values (NAV).
Design/methodology/approach
The hypothesis is that the overall regulatory design and the rules for prudential vigilance (i.e. governance rights, closed‐end form, leverage constraints, and mandatory listing) influence REITs' share value, both as market price and as NAV). In particular, the analysis focuses on the effects of the recent introduction of a shareholders' meeting in the articles of association of newly established REITs that pursues a better alignment of interests between managers and shareholders.
Findings
The original results show that the NAV discount decreases as long as time to maturity of the fund decreases. Conversely, the NAV discount is negatively affected by share turnover (as a proxy of the liquidity generated by the mandatory listing provision) and leverage. The regulatory provision of a shareholders' meeting appears to have improved the investors' governance capability having a positive impact on the NAV discount. The different sensitivity of market prices and NAVs to the regulatory variables investigated suggests the need to consider this dichotomy when defining or amending the regulatory set ruling REITs' operations and market dynamic.
Originality/value
This paper is the first in the Italian context to specifically consider the effect of the regulatory environment on the NAV discount. In particular, the effect of the regulatory provision of a shareholders' meeting has never been investigated before.
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