1,720,981 research outputs found
Corporate Social/Environmental Responsibility and Value Creation: Reflections on a Modern Business Management Paradigm
Full text linkThe present article deals with a new, modern business management paradigm founded on both the social and
the environmental responsibility of firms intended as powerful instruments to match the issue of sustainability
with corporate performance and value creation (thus evolving from the classical shareholder value to a new,
more comprehensive, shared value view). The Directive 2013/34/EU required the disclosure of large
enterprises and groups' non-financial and diversity information. At the same time, a growing number of
proactive companies which behave with real initiatives more compliant to the so-called Stakeholder Theory
have become quite familiar to produce CSR and sustainability reports periodically to share with the community
their relevant responsibility actions and achievements (3 P results or triple-bottom-line performance, as for
profit, people, planet). Such a complex, behavioral and informative approach follows the corporate governance
setting and management strategy within the ethical domain (business ethics). In this perspective, we conduct
a systematic research study on the economic literature that showed a focus on the possible relation between
the responsible behavior/information and the economic/financial performance of firms, analyzing both the
empirical findings and theoretical works significantly investigating the effect of sustainability indicators on
financial and market results. According to the general studies, socially responsible policies can produce a
positive impact on company performance by many advantages such as the reduction of operating costs and
financial risks, an increase of efficiency and competitiveness, the improvement of the company's reputation
and a related increase in consumer confidence; despite preceding studies pointed out that CSR investments
and responsibility policies (representing the result of an agency conflict between managers and shareholders)
would generate just an increase in costs and a consequent decline in the performance of companies. The
consideration of the ESG (environmental, social and governance) – which completes the CSR issue – and its
new goals in the long run, even as a component of the holistic enterprise risk management system, finally
enables us to reinterpret the fundamental competitive advantage of firms in a sustainability key. In particular,
the environmental, social and governance extra-performance over the industry may show to be more 'valuerelevant' than the absolute ESG ratings itself. In conclusion, the social, environmental and governance
responsibilities (to all stakeholders) are building a set of dynamic capabilities and actions which reveal a new
competitive (X) Factor of the modern corporation
Premi e sconti nella valutazione delle aziende
No full textIl presente capitolo persegue il fine di analizzare i variegati sconti applicabili nella valutazione d'azienda a livello entity. Tali correttivi rivestono particolare importanza sia sul piano squisitamente teorico-speculativo sia su quello pragmatico-empirico. Essi, evidentemente, nei casi e nei modi opportuni in cui risultino imputabili all'azienda nella sua interezza - "as whole" - quindi equanimemente distribuiti su tutta la proprietà, precedono gli sconti equity, sottratti dal valore economico 'netto' risultante (già scontato al corporate level). In considerazione della molteplicità tipologica degli sconti, delle loro sfaccettature tecniche, della varia portata nei contesti valutativi di rilievo e di taluni potenziali overlapping o double counting - come emerge da un'analisi critica della dottrina - , il lavoro propone una sistematizzazione aggiornata ed utile dei primari entity level discount
Environmental innovation in healthcare industry: The moderating role of women on board in cost of debt
Full text linkOver recent years, a growing body of empirical evidence highlights a positive correlation between ecological innovation and firm value creation. Building on natural resource-based view and upper echelons theory, this study examines the relationship between environmental innovation and the cost of debt, by verifying whether and to what extent there is a moderation effect due to the board gender diversity. Using a sample of 458 European firms belonging to the healthcare industry, we carried out a cross-sectional analysis, given that the sample is based on just the fiscal year 2020. The empirical evidence shows that environmental innovation decreases the cost of debt, by reducing company's perceived risk. In addition, board gender diversity negatively moderates the foregoing relationship. Therefore, our study suggests that public policy makers might underpin environmental innovation policies and specific features on board of directors, since they exert relevant implications on firm's value creation and investors' decisions
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Additional Financial Reporting Issues: Provisions, Derivatives, and Accounting for Income Taxes
No full textThis book, entitled “Lessons of Business Administration and Accounting” was born as a first effort to create a reference text in English containing the traditional concepts of Italian “Economia Aziendale” (Business Management), together with the foundations of the principles underlying accounting and the representation of values inside the financial statements in Italy. The book is divided into 16 Chapters written by professors of Business Management in the Italian Universities, and is mainly addressed to students of the Bachelor and Master degree courses in Economics Sciences held in English
Il Bilancio di Genere nella Non Financial Disclosure della Pubblica Amministrazione. Evoluzione Normativa e Ruolo della Ragioneria Generale dello Stato
No full textLa giornata di studi che mi onoro di aprire è dedicata alla celebrazione dei 150 anni di una straordinaria Istituzione dell’Italia, la Ragioneria Generale dello Stato. Con la Legge 22 aprile 1869 n. 5026, proposta dall’allora Ministro delle Finanze, il conte Cambray-Digny, veniva costituita la Ragioneria Generale dello Stato con lo scopo di assicurare una vigilanza attiva sull’andamento e sulla gestione delle risorse pubbliche da parte dello Stato italiano.Negli anni, il ruolo e le finalità della Ragioneria Generale dello Stato sono cambiati e si solo evoluti in modo incrementale nel tempo, con un potenziamento degli scopi inizialmente riconosciuti a questa Istituzione, fino ad assicuare una funzione tutoria della stessa rispetto al processo di adesione all’Unione Europea e di “interfaccia istituzionale” sulla politica monetaria a livello comunitario.In questa breve introduzione, verranno ripercorse le trasformazioni ordinamentali e istituzionali intervenute in questi 150 anni, che hanno inciso sulle funzioni della stessa Ragioneria Generale dello Stato, intrecciandosi con le vicende storiche e politiche del nostro Paese dall’unificazione fino ai giorni nostri
Additional Financial Reporting Issues: Provisions, Derivatives, and Accounting for Income Taxes
No full textLessons of business administration and accounting
No full textThis book, entitled “Lessons of Business Administration and Accounting” was
born as a first effort to create a reference text in English containing the traditional
concepts of Italian “Economia Aziendale” (Business Management), together with
the foundations of the principles underlying accounting and the representation of
values inside the financial statements in Italy.
The book is divided into 16 Chapters written by professors of Business Management in the Italian Universities, and is mainly addressed to students of the Bachelor and Master degree courses in Economics Sciences held in English
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