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Value creation and contestability: findings from italian market
Get PDFAbstract The idea of this research starts from the debate about the efficiency of the Italian capital market. In an increasingly globalized context, where Italian companies have to compete not only among themselves but also with foreign forces, the inefficiency of the capital market could be a fundamental discriminant. This paper aims to analyze the contestability in the Italian market. As it is known, it has some peculiarities. If compared with the other market, the Italian one is strongly characterized by the presence of small and medium-sized enterprises (SME), most of them family-run. In the Italian listed companies the entrepreneur and the manager are the same person, often chosen in the same family that exercises control. So the Italian market has a low contestability. Furthermore, the analysis conducted allows determining the existence of a relationship between value creation and contestability
The challenges in integrating ESG factors into banks’ credit department: a knowledge management enhanced framework
No full textPurpose
Assuming that knowledge management is a pivotal issue in business to improve and maintain competitive advantages, this paper aims to investigate how knowledge management is useful to face challenges about the integration of environment, social and governance (ESG) factors, filling the gap in the literature regarding knowledge management and ESG in the banking world by considering a real case.
Design/methodology/approach
Starting from the analysis of the more relevant literature on the topic, this paper describes an illustrative real case through interviews with the credit department of an Italian bank that has adopted a specific sustainability approach. This paper discusses this case in the context of the outlined theoretical background to explore the trends and challenges of ESG integration. The case study allows us to evaluate and expand our theoretical framework, leading to a greater understanding of the complex phenomenon under investigation.
Findings
Based on the analysis of the literature combined with the insights that emerged from the experience of the real case, this study shows that there are three primary factors to consider: data issues, competencies and workflow. This study outlines an enhanced knowledge management framework displaying the complexity emerging from the integration of ESG into a bank’s credit department and identify the best practices to pursue.
Practical implications
Given the increasing pressure toward the incorporation of ESG factors into the banking sector, the practical implications of the study are relevant as they provide guidelines for action. Specifically, the practical problems highlighted by the real case, like the priority on themes such as questionnaires, the need for ad hoc commissions and workflow, drive the attention of decision-makers on key aspects to effectively adopt an advanced knowledge management approach aimed at improving the ESG integration. Considering the effect of the banking system on the economy, the best practices this study has identified can also have a positive impact on society as a whole.
Originality/value
The proposed enhanced knowledge management framework offers a guideline to orchestrate ESG integration into banks’ credit departments, considering the increasing need to frame a sustainability-oriented strategic approach that emerges from academic and practical enquiries. This research represents an initial attempt to investigate the integration of ESG factors in the banking system through the lens of knowledge management. The strategic nature of the ESG approach clearly appears in a dynamic environment where stakeholder pressures and regulatory evolutions are strong
Measuring and classifying the social sustainability of European banks: An analysis using interval-based composite indicators
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No full textAssessing gender theme in European financial institutions: an analysis through a new interval-based composite indicator
No full textHuman rights disclosure and sustainable banking: evidence from Europe and implications for policy
No full textThe challenges in integrating ESG factors into banks’ credit department: a knowledge management enhanced framework
No full text- …
