Pub Date : 2023-01-01DOI: 10.3280/cgrds2-2022oa13839
F. Alvino, Filippo Maria Pisani, S. Pisano
The generational succession in family firms is a typical and inevitable event in corporate evolution. In particular, the Italian production system must constantly reckon with generational succession as it affects about 80,000 companies annually. It is very important that this process is carefully managed because, in Italy, only 31% of family firms survive their founder and only 13% go on to the third generation. The aim of this paper is to indicate the most frequent mistakes made by family firms during the generational transition, through the identification of best practices summarized in six building blocks collected from the literature. In order to substantiate the theoretical argumentations, the article analyzes a case study concerning the family firm Mapei S.p.A., which has recently faced its second generational handover through a virtuous process in all its aspects.
{"title":"Corporate Governance and generational succession in family firms: The M.A.P.E.I. S.p.A. case study","authors":"F. Alvino, Filippo Maria Pisani, S. Pisano","doi":"10.3280/cgrds2-2022oa13839","DOIUrl":"https://doi.org/10.3280/cgrds2-2022oa13839","url":null,"abstract":"The generational succession in family firms is a typical and inevitable event in corporate evolution. In particular, the Italian production system must constantly reckon with generational succession as it affects about 80,000 companies annually. It is very important that this process is carefully managed because, in Italy, only 31% of family firms survive their founder and only 13% go on to the third generation. The aim of this paper is to indicate the most frequent mistakes made by family firms during the generational transition, through the identification of best practices summarized in six building blocks collected from the literature. In order to substantiate the theoretical argumentations, the article analyzes a case study concerning the family firm Mapei S.p.A., which has recently faced its second generational handover through a virtuous process in all its aspects.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"198 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130350638","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}
Pub Date : 2023-01-01DOI: 10.3280/cgrds2-2022oa13756
Giulia Nevi, Luigi Monsurrò, Luca Dezi, G. Gregori
Studies on longevity firms and innovation are limited. This study aims to discover if and how the longevity family firms are able to communicate innovation and able to communicate innovation concerning their being traditional. Our evidence individuated as longevity family firms adopt an integrative approach to innovation and the family remains more attached to tradition with a different role in the firms communication.
{"title":"Longevity Family Firm and Innovation: A matter of communication?","authors":"Giulia Nevi, Luigi Monsurrò, Luca Dezi, G. Gregori","doi":"10.3280/cgrds2-2022oa13756","DOIUrl":"https://doi.org/10.3280/cgrds2-2022oa13756","url":null,"abstract":"Studies on longevity firms and innovation are limited. This study aims to discover if and how the longevity family firms are able to communicate innovation and able to communicate innovation concerning their being traditional. Our evidence individuated as longevity family firms adopt an integrative approach to innovation and the family remains more attached to tradition with a different role in the firms communication.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130370867","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}
Pub Date : 2023-01-01DOI: 10.3280/cgrds2-2022oa15066
Maria Coscia
The current study investigates the impact of board gender diversity (BGD) on family firms' (FFs) engagement in corporate environmental responsibility (CER) practices. The role of BGD in CER policies has been explored in light of critical mass theory by identifying the threshold of women share on board that can influence the environmental commitment of FFs. By employing a fixed-effect (FE) regression analysis on a global sample of 171 FFs, over the 2015-2020 study period, our findings show that when BGD reaches a certain threshold, i.e. critical mass, the CER engagement of FFs increases. These evidences advance prior literature on the link between BGD and CER while providing additional indications for managers, policy makers and FFs seeking the best CER performance.
{"title":"Board gender diversity and family firms' corporate environmental responsibility: does \"critical mass\" matter?","authors":"Maria Coscia","doi":"10.3280/cgrds2-2022oa15066","DOIUrl":"https://doi.org/10.3280/cgrds2-2022oa15066","url":null,"abstract":"The current study investigates the impact of board gender diversity (BGD) on family firms' (FFs) engagement in corporate environmental responsibility (CER) practices. The role of BGD in CER policies has been explored in light of critical mass theory by identifying the threshold of women share on board that can influence the environmental commitment of FFs. By employing a fixed-effect (FE) regression analysis on a global sample of 171 FFs, over the 2015-2020 study period, our findings show that when BGD reaches a certain threshold, i.e. critical mass, the CER engagement of FFs increases. These evidences advance prior literature on the link between BGD and CER while providing additional indications for managers, policy makers and FFs seeking the best CER performance.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"183 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131643693","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}
Pub Date : 2023-01-01DOI: 10.3280/cgrds2-2022oa13746
Carmen Gallucci, Riccardo Tipaldi, R. Santulli
This paper examines how business families use family foundations to revitalize "dead money" while increasing the reputation of the business family and its firms through charitable giving. The Wang & He (2018) model is applied from 2001 to 2019 to a sample of 100 US family foundations (two for each federal state) with about USD 1 million in assets. Results indicate that business families revitalize "dead money" through family foundations by investing it across different revenue sources, namely bonds, cash investments, and stocks, generating inflows in terms of dividends, interests, and net gains due to asset sales. However, family foundations hold much of these inflows as disposable net equity. Therefore, their administrative structure remains too basic, preventing operating margins from growing. Nonetheless, family foundations stay highly involved in charitable giving to do well to the reputation of the business family and its firms while doing good to society. Overall, we conclude that business families, through family foundations, partially succeed in revitalizing "dead money".
{"title":"Coming back to life: How business families revitalize \"dead money\" through family foundations","authors":"Carmen Gallucci, Riccardo Tipaldi, R. Santulli","doi":"10.3280/cgrds2-2022oa13746","DOIUrl":"https://doi.org/10.3280/cgrds2-2022oa13746","url":null,"abstract":"This paper examines how business families use family foundations to revitalize \"dead money\" while increasing the reputation of the business family and its firms through charitable giving. The Wang & He (2018) model is applied from 2001 to 2019 to a sample of 100 US family foundations (two for each federal state) with about USD 1 million in assets. Results indicate that business families revitalize \"dead money\" through family foundations by investing it across different revenue sources, namely bonds, cash investments, and stocks, generating inflows in terms of dividends, interests, and net gains due to asset sales. However, family foundations hold much of these inflows as disposable net equity. Therefore, their administrative structure remains too basic, preventing operating margins from growing. Nonetheless, family foundations stay highly involved in charitable giving to do well to the reputation of the business family and its firms while doing good to society. Overall, we conclude that business families, through family foundations, partially succeed in revitalizing \"dead money\".","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124136560","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa12343
Chiara Acciarini, Paolo Boccardelli
A partire dalla considerazione che il cambiamento strategico rappresenta una tema centrale negli studi di management e strategia, lo studio si propone di investigare le decisioni strategiche delle imprese in contesti caratterizzati da elevati livelli di dinamismo. Inoltre, l'introduzione in letteratura della variabile che misura l'esperienza digitale del board, intesa come rapporto tra membri con esperienza professionale in ambiti digital-related e il totale dei componenti del board, consente di valutare l'impatto sul metodo (fusioni e acquisizioni, alleanze strategiche e joint venture) e sull'ampiezza (diversificazione e internazionalizzazione) del cambiamento strategico. I risultati dimostrano l'associazione non solo tra maggiore dinamismo ambientale e cambiamento esperienza digitale del board e lo stesso cambiamento strategico d'impresa. Le implicazioni teoriche e pratiche consentono di apprezzare il coinvolgimento del board non solo nel controllo, ma anche nella direzione strategica dell'impresa, e di comprendere come le imprese decidano di orchestrare il proprio set di capacità dinamiche per allinearsi ai cambiamenti esterni.
{"title":"Dinamismo ambientale, esperienza digitale del board, e cambiamento strategico delle imprese. L'integrazione tra Dynamic Managerial Capabilities e Resource Dependence Theory","authors":"Chiara Acciarini, Paolo Boccardelli","doi":"10.3280/cgrds2-2021oa12343","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa12343","url":null,"abstract":"A partire dalla considerazione che il cambiamento strategico rappresenta una tema centrale negli studi di management e strategia, lo studio si propone di investigare le decisioni strategiche delle imprese in contesti caratterizzati da elevati livelli di dinamismo. Inoltre, l'introduzione in letteratura della variabile che misura l'esperienza digitale del board, intesa come rapporto tra membri con esperienza professionale in ambiti digital-related e il totale dei componenti del board, consente di valutare l'impatto sul metodo (fusioni e acquisizioni, alleanze strategiche e joint venture) e sull'ampiezza (diversificazione e internazionalizzazione) del cambiamento strategico. I risultati dimostrano l'associazione non solo tra maggiore dinamismo ambientale e cambiamento esperienza digitale del board e lo stesso cambiamento strategico d'impresa. Le implicazioni teoriche e pratiche consentono di apprezzare il coinvolgimento del board non solo nel controllo, ma anche nella direzione strategica dell'impresa, e di comprendere come le imprese decidano di orchestrare il proprio set di capacità dinamiche per allinearsi ai cambiamenti esterni. ","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129564542","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa12558
Cristiano Ciappei, Anna Marrucci, Giacomo Mininni, Marina Gallucci
Society is currently facing profound crises which threaten the stability, development, and individuals' well-being. Specifically, health, environmental, and social crises have become topics of great interest among academics and scholars of Governance. In this transformative environment, companies fulfill a vital role: they need to be responsible to the community by rethinking the maximization of interests. Indeed, businesses should operate by maximizing stakeholder interests and respecting social development. Failure to achieve these priority objectives can have major implications for society. In achieving these ethical goals, Governance covers a crucial role. However, the debate on Governance and management has focused on purely control and administrative aspects. The present research offers a reinterpretation of Governance through a political lens. By examining Shareholder Theory and Stakeholder Theory, it emerges how in corporate management the political approach is superordinate to the ethical approach. This relationship between politics and ethics is analyzed in the context of Corporate Social Responsibility. Indeed, the research argues that Corporate social Responsibility is political and not ethical fact. The ethical roots of Corporate Social Responsibility can only be rediscovered through the enhancement of the moral dimension of management. In addition to Shareholder theory and Stakeholder Theory, the research explores Easton's model of political systems.
{"title":"Political Governance and Corporate Social Responsibility: Enhancing the Role of the Moral dimension","authors":"Cristiano Ciappei, Anna Marrucci, Giacomo Mininni, Marina Gallucci","doi":"10.3280/cgrds2-2021oa12558","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa12558","url":null,"abstract":"Society is currently facing profound crises which threaten the stability, development, and individuals' well-being. Specifically, health, environmental, and social crises have become topics of great interest among academics and scholars of Governance. In this transformative environment, companies fulfill a vital role: they need to be responsible to the community by rethinking the maximization of interests. Indeed, businesses should operate by maximizing stakeholder interests and respecting social development. Failure to achieve these priority objectives can have major implications for society. In achieving these ethical goals, Governance covers a crucial role. However, the debate on Governance and management has focused on purely control and administrative aspects. The present research offers a reinterpretation of Governance through a political lens. By examining Shareholder Theory and Stakeholder Theory, it emerges how in corporate management the political approach is superordinate to the ethical approach. This relationship between politics and ethics is analyzed in the context of Corporate Social Responsibility. Indeed, the research argues that Corporate social Responsibility is political and not ethical fact. The ethical roots of Corporate Social Responsibility can only be rediscovered through the enhancement of the moral dimension of management. In addition to Shareholder theory and Stakeholder Theory, the research explores Easton's model of political systems. ","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114282551","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa12550
R. Ferlito, R. Faraci
Negli ultimi anni si è assistito alla crescita del numero di organizzazioni ibride, imprese caratterizzate da più domini funzionali e dalla coesistenza di sistemi di valori differenti. Le stesse presentano un modello di corporate governance allargato che richiede l'assunzione di responsabilità nei confronti non solo della proprietà, ma anche verso tutti gli stakeholder. L'obiettivo del presente lavoro si sostanzia nell'esplorare i tre aspetti di governance caratterizzanti un'impresa ibrida con scopo di lucro ossia il bilanciamento di logiche differenti, il monitoraggio delle azioni e dei risultati e la comunicazione esterna, al fine di identificare le azioni da attuare per risolvere le tensioni manageriali insite in tale forma organizzativa. Per far ciò sono state prese in analisi le società benefit che nell'esercizio della propria attività economica oltre allo scopo del profitto perseguono una o più finalità di beneficio comune. Le evidenze empiriche derivanti dall'analisi del caso studio riguardante l'impresa italiana Illycaffè permettono di apportare nuova conoscenza nella letteratura sulla corporate governance e sul sustainability management.
{"title":"Sostenibilità e sistemi di Corporate Governance delle società benefit: il","authors":"R. Ferlito, R. Faraci","doi":"10.3280/cgrds2-2021oa12550","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa12550","url":null,"abstract":"Negli ultimi anni si è assistito alla crescita del numero di organizzazioni ibride, imprese caratterizzate da più domini funzionali e dalla coesistenza di sistemi di valori differenti. Le stesse presentano un modello di corporate governance allargato che richiede l'assunzione di responsabilità nei confronti non solo della proprietà, ma anche verso tutti gli stakeholder. L'obiettivo del presente lavoro si sostanzia nell'esplorare i tre aspetti di governance caratterizzanti un'impresa ibrida con scopo di lucro ossia il bilanciamento di logiche differenti, il monitoraggio delle azioni e dei risultati e la comunicazione esterna, al fine di identificare le azioni da attuare per risolvere le tensioni manageriali insite in tale forma organizzativa. Per far ciò sono state prese in analisi le società benefit che nell'esercizio della propria attività economica oltre allo scopo del profitto perseguono una o più finalità di beneficio comune. Le evidenze empiriche derivanti dall'analisi del caso studio riguardante l'impresa italiana Illycaffè permettono di apportare nuova conoscenza nella letteratura sulla corporate governance e sul sustainability management.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133389320","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa13206
S. Barile
{"title":"Una dedica a Biagio Merola","authors":"S. Barile","doi":"10.3280/cgrds2-2021oa13206","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa13206","url":null,"abstract":"","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116746522","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa13207
Salvatore Esposito De Falco
{"title":"Dalla Corporate Governance alla Sustainable Governance Washing","authors":"Salvatore Esposito De Falco","doi":"10.3280/cgrds2-2021oa13207","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa13207","url":null,"abstract":"","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132392287","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}
Pub Date : 2022-01-01DOI: 10.3280/cgrds2-2021oa13208
Gaetano Maria Golinelli, B. Quattrociocchi
{"title":"Tradizione e innovazione nella Corporate Governance: dal new normal al never normal","authors":"Gaetano Maria Golinelli, B. Quattrociocchi","doi":"10.3280/cgrds2-2021oa13208","DOIUrl":"https://doi.org/10.3280/cgrds2-2021oa13208","url":null,"abstract":"","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130221450","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}
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