New challenges in corporate governance: Theory and practice最新文献

{"title":"Smart model-based governance: Taking decision making to the next level by integrating data analytics with systems thinking and system dynamics","authors":"S. Armenia","doi":"10.22495/ncpr_10","DOIUrl":"https://doi.org/10.22495/ncpr_10","url":null,"abstract":"Although Big Data initiatives are currently presenting promising results, there is still some skepticism about their real capabilities as they are contextual dependent, and their objective and accuracy are somehow misleading. Approaches underlying the extraction of knowledge from a large amount of data are surely important to understand how a system has behaved until a certain point in time. However, they, unfortunately, lack a real and effective capability to infer future system's behaviour and its relationship with other systems (some of which might even have counter-intuitive behaviours). As a direct consequence of this, the Systems Thinking approach may help fill the gap, as it advocates the ability to see the world as a complex system where everything is connected. Joining Analytics techniques and Systems Thinking models brings us to the definition of a new governance approach, based on \"smart\" models (Armenia et al., 2017). The aim of this work is to propose a new conceptual governance framework based on a systemic approach and translated into a system dynamics model for knowledge management within organizations: Smart Model-based governance","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127829025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"From information transfer to knowledge sharing in corporate governance: The challenging role of Blockchain technology","authors":"S. Barile, F. Caputo, Pietro Vito","doi":"10.22495/ncpr_40","DOIUrl":"https://doi.org/10.22495/ncpr_40","url":null,"abstract":"The increasing market turbulence is recalling the attention of both researchers and practitioners interested in business dynamics on the need for developing conceptual and interpretative frameworks able to face the emerging challenges related to the on-going market changes. As a prominent domain of interest in business studies, corporate governance should rethink itself to overcome consolidated transactional approaches with the aim of ensuring companies’ survival thanks to the collaboration among all the actors involved in social and economic paths. Accordingly, the paper proposes conceptual reflections about the ways in which corporate governance could overcome traditional issues related to information asymmetry and agency problems and shift from an information transfer-based view to a knowledge-sharing approach thanks to the contribution provided by the information technologies. The Blockchain technology is used as an example for building a conceptual model able to explain the potential advantages of the proposed change in perspective for corporate governance","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124124527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Key audit matters: A preliminary survey on relations with the corporate governance. An analysis in the Italian institutional setting","authors":"N. Moscariello, M. Pizzo, G. Ricciardi, R. Vinciguerra","doi":"10.22495/ncpr_6","DOIUrl":"https://doi.org/10.22495/ncpr_6","url":null,"abstract":"The intention of this study is to investigate the interaction, if any, between the external auditor and corporate governance of the client company, trying to figure out if a relationship exists between the quality of corporate governance and the quantity of the KAMs disclosed. Taking into account both the mentioned results (explaining the existence of a relationship between corporate governance and the audit process) and the change introduced by the ISA 701 (introducing KAM), the intention of this study is to conduct a preliminary investigation in order to understand if, after controlling for some specific variables affecting the accounting quality, there is a relationship between the quality of the corporate governance (meant as board composition) and the amount of disclosed KAM in the audit report","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130208339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Benefit corporations and reformed class action in Italy: A thrilling interaction","authors":"D. Stanzione","doi":"10.22495/ncpr_23","DOIUrl":"https://doi.org/10.22495/ncpr_23","url":null,"abstract":"Recently, the Italian legislator has realised two substantial regulatory interventions that are destined to produce significant impacts on corporate governance structures, drawing consequently the scholars’ attention: we refer, on one side, to the introduction of benefit corporations (the so-called “società benefit”) in 20151 and, on the other side, to the reform of the class action tool in 2019.2 Both regulatory interventions provide a number of important innovations. Indeed, the benefit corporations, while carrying out an economic activity and in addition to the purpose of gaining profits, are designed to pursue one or more purposes of common benefit and operate in responsible, sustainable and transparent manner towards people, communities, territories and environment, cultural and social assets and activities, institutions, associations and other stakeholders. It is clear that the pursuit of one or more benefit purposes has to be balanced by the directors with the profit purpose, that still represents the main aim of the corporation (which is not a “no profit” corporation), and the outcomes of this balancing activity could potentially affect the interests of the shareholders or of the stakeholders, depending on who of those 1 Benefit corporations have been introduced in Italy by Law December 28, 2015, n. 208. Many scholars have investigated the newly legal institute in the aftermath of the reform: see, in particular, Calagna (2016); Corso (2016); Gallarati (2018); Guida (2018); Lenzi (2016); Siclari (2016); Stanzione (2018); Ventura (2016). 2 The Italian reform of the class action has been enacted by Law April 12, 2019, n. 31 and will enter into force on April 19, 2020. Within the first scholars that have discussed on the main news of the reform, see, in particular, Consolo (2019); Pisapia (2019). “NEW CHALLENGES IN CORPORATE GOVERNANCE: THEORY AND PRACTICE” Naples, October 3-4, 2019 86 could argue to have been disadvantaged at the end: therefore, the possibility for the stakeholders to be granted with a direct legal action against the benefit corporation directors, based on a non-fulfilled benefit purpose claim, is the main issue to be investigated in the context of the benefit corporations.3 The above issue is strictly interrelated with the reform of the class action, which took place on April 2019 and that is going to enter into force on April 2020. Indeed, the new class action tool is designed to be available to all those who make claims for damages in relation to the infringement of \"homogeneous individual rights\" (as could be those pertaining to the stakeholders of a benefit corporation) and is not only reserved to consumers, like in the previous regulation. The above said innovation, together with the extension of the objective scope of the action, may contribute to render the class action the most popular tool to be employed to support the claims of the stakeholders in the context of benefit corporations. Therefore, the effective right","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"33 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129124977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Ownership structures and corporate performance: A literature review","authors":"Luigi Lepore, A. D. Vaio, Marcos Sorrentino, Rosa Palladino","doi":"10.22495/ncpr_35","DOIUrl":"https://doi.org/10.22495/ncpr_35","url":null,"abstract":"In the last decades, the phenomenon of separation between ownership and control has attracted the most attention from researchers and professionals. Indeed, proprietary concentration can play an asymmetrical role in helping to influence corporate performance, whereby large shareholders can use their power both to expropriate wealth due to minority shareholders and to benefit minority shareholders, controlling the discretion of the management. However, there is still a lack of research that has integrated and systematized the empirical research carried out on the relationship between proprietary concentration and company performance given that there is still no convergence of results regarding the sign and the form of this relationship. Therefore, the purpose of this work is to present the results of a systematic review of the literature on the subject, proposing a possible innovative interpretation of the relationship mentioned above that takes into account additional interaction variables linked to the institutional structures of the countries in which the investigated companies operate","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128994335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Network corporate governance: Information and risk-return sharing of connected stakeholders","authors":"Roberto Moro Visconti","doi":"10.22495/NCPR_31","DOIUrl":"https://doi.org/10.22495/NCPR_31","url":null,"abstract":"Traditional corporate governance patterns are based on the interaction among composite stakeholders and the various forms of separation between ownership and control. Shareholders, debtholders, managers, employees, suppliers, and clients cooperate around the Coasian firm represented by a nexus of increasingly complex contracts. These well-known occurrences have been deeply investigated by growing literature and nurtured by composite empirical evidence. Apparently unrelated network theory is concerned with the study of graphs as a representation of (a)symmetric relations between discrete objects (nodes connected by links). Network theory is highly interdisciplinary, and its versatile nature is fully consistent with the complex interactions of (networked) stakeholders, even in terms of game theoretic patterns. The connection between traditional corporate governance issues and network theory properties is however still under-investigated. Hence, the importance of an innovative reinterpretation that brings to “network governance”. Innovation may for instance, concern the principal-agent networked relationships and their conflicts of interest or the risk contagion and value drivers – three core governance issues. To the extent that network properties can be mathematically measured, governance issues may be quantified and traced with recursive patterns of expected occurrences","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131059308","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Women on the board and the ethical behaviour: The case of Latin American listed companies","authors":"Guadalupe del Carmen Briano Turrent","doi":"10.22495/ncpr_22","DOIUrl":"https://doi.org/10.22495/ncpr_22","url":null,"abstract":"Ethical issues such as social inclusion and gender equality are among the most relevant global challenges and have attracted the attention in the academic literature. Within the literature on board composition, one of the recent and emerging issues, which have been rapidly gaining attention from both academics and practitioners, is the board diversity (Catanzariti & Lo, 2011). Gender diversity on the board has shown advantages from economic and ethical dimensions. This study contributes to the debate on gender equality on top positions and its effect on ethical behaviour. Differently from other studies, was included in the study three variables that reflect the ethical dimension: 1) corporate governance compliance, 2) ethical corporate values, and 3) stakeholder strategy orientation. This study has practical implications for policymakers, companies and boards since findings show that firms with women on their boards tend to be more ethically responsible, suggesting the necessity to increase their representation on the private sector","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114597487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"AI, gentrification, and jobs: Implications for boards of directors and corporate governance","authors":"H. Grove, M. Clouse, Tracy Xu","doi":"10.22495/ncpr_5","DOIUrl":"https://doi.org/10.22495/ncpr_5","url":null,"abstract":"The major research question or issue in this paper is to develop strategies for companies and boards of directors to seize opportunities from emerging technological advances, instead of being threatened by artificial intelligence (AI), gentrification, and other new technologies. The major sections of this paper are gentrification, positive and negative responses to gentrification, the evolving technology environment for jobs, “adapt or die” strategy with implications for companies and boards of directors, related stakeholder and sustainability focus, strategies to avoid “Fear of Missing Out,” and summary","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"93 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116331789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate governance: How fiscal and industry revolution in Italy can change the labour market?","authors":"Francesco Di Tommaso, A. Gulinelli","doi":"10.22495/CLGRV1I1P2","DOIUrl":"https://doi.org/10.22495/CLGRV1I1P2","url":null,"abstract":"The intent of the paper is to understand which new scenarios and future figures could emerge with the Corporate Governance Industry Revolution 4.0, but also which professional figures could disappear, decrease in number or transform; also prefigure what changes could occur in the way of work performance, of new and old professions, in relation to the inevitable changes in production processes that will be introduced by this new industrial revolution. My point of view, of analysis, is clearly that of union representation, in all forms, and of workers. The question that I and I hope all the components of the trade unions are asking is: will we be able to be able to understand, represent and protect all the workers who will be involved in Industry 4.0? Clearly the writer does not pretend to find solutions, although from my observations, experience of representation can certainly provide suggestions and ideas, aided by the study and research still conducted by the major unions such as: CGIL-FIOM, CISL- FIM and UIL-UILM in Italy.","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"195 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121066197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enterprise risk management, corporate governance and systemic risk: Some research perspectives","authors":"Salvatore Esposito De Falco, Antonio Renzi, Giuseppe Sancetta, G. Vagnani","doi":"10.22495/ncpr_15","DOIUrl":"https://doi.org/10.22495/ncpr_15","url":null,"abstract":"The general goal of Enterprise Risk Management (ERM) processes is to generate economic value through the coverage of firm business risk, on the one hand, and by exploiting the positive side of uncertainty conditions, on the other hand. This study aims to deepen the mechanisms by which the transfer of risk from a focal organization to its task environment may foster the emergence of systemic risk, i.e., a macro risk coming from domino and/or network effects. The paper aims to find new research areas by combining micro and macro issues tied to corporate governance, ERM and systemic risk. Starting from the above assumptions, the paper goal is to open a new research area which combines four academic fields (ERM, corporate governance, corporate finance, and macro-finance).","PeriodicalId":352139,"journal":{"name":"New challenges in corporate governance: Theory and practice","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134501441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}