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L'articolo, espone i risultati del progetto di ricerca "Top500 Piacenza", con specifico riferimento all'andamento delle aziende del settore chimico-farmaceutico operanti nel territorio piancentino. In particolare, il lavoro illustra il trend del campione di imprese in termini di redditività, solidità e liquidità.

L'articolo, espone i risultati del progetto di ricerca "Top500 Piacenza", con specifico riferimento all'andamento delle aziende del settore delle costruzioni operanti nel territorio piancentino. In particolare, il lavoro illustra il trend del campione di imprese in termini di redditività, solidità e liquidità.

Il contributo presenta un commento relativo all'andamento economico-finanziario delle aziende appartenti al settore chimico presenti nel territorio cremonese per il 2021.

Il contributo presenta un commento relativo all'andamento economico-finanziario delle aziende appartenti al settore chimico presenti nel territorio cremonese per il 2021.

Purpose. This paper offers an exploratory analysis of the existence of industry-specific patterns of resilience in the context of the Italian fashion industry, captured through a financial analysis. Design/methodology/approach. Building on a dataset of 37.052 firms operating in the Italian fashion industry, we adopt an outcome-based approach using financial indicators capturing the profitability, liquidity, and solidity, to assess the existence of recovery patterns. We separately analyze and compare the period after the 2008 global financial crisis (2009-2019) and the effects of the Covid-19 pandemic (2019-2021). Findings. Our findings suggest the existence of industry-specific recovery patterns. Specifically, Italian fashion firms have been able to capitalize on their pre-crisis financial health to increase their in-vestments especially towards new business models and nurture a recovery in profitability. Furthermore, the greater contribution to resilience of SME’s relative to large competitors supports previous findings on the mutual reinforcement mechanism of an industry firms’ networking and financial health. Practical and Social implications. From a managerial view-point, companies should be aware of the signalling role of financial ratios as drivers of resilience and of the importance of network re-lationships, in order to exploit their positive effect as intensifiers of financial health and industry resilience. In a policy-making perspec-tive, we suggest the importance of assessing the industry-specific ability to profitably allocate financial resources in order to identify more effective supporting mechanisms. Originality of the study. This study contributes to the literature on resilience by extending the outcome-based approach focused on financial ratios to the analysis of industry-level resilience. In doing so, we underscore the importance of using a systemic approach in the assessment of financial health and offer a fine-grained analy-sis that captures bo

This paper aims to explore the impact of corporate governance mechanisms on managerial opportunism in reporting unrealized gains and losses under fair value accounting. Building on the agency theory, we explore the relationship between the board of directors’ composition and other comprehensive income (OCI) reporting choices. Based on previous findings, our conceptual model suggests that more effective boards could limit managers’ accounting manipulation in OCI items reporting, through the exercise of stronger monitoring and advising functions. Using a sample of 54 Italian listed firms for the period 2009-2018, we provide evidence that while larger boards negatively affect OCI changes, gender board homophily exerts a positive effect on the magnitude of total OCI. Consistent with our predictions, our results therefore suggest that more diverse boards may hinder managerial ability to distort financial information to their advantage. Overall, our study contributes to the ongoing debate on fair value accounting and financial information usefulness, also adding to the literature on firms’ transparency and corporate governance, confirming their mutually supporting role.

Building on the existing literature on corporate risks management and emerging risks, this study investigates livestock firms’ identification, assessment, and management of climate change risks. Specifically, we surveyed a sample of 40 Italian firms operating in the upstream stages of the livestock supply chain, to explore their perception of and responses to climate-related threats. Our findings reveal that, while being well aware of potential climatic challenges, the sampled firms have not adopted a systematic approach to climate change risk assessment and management. Furthermore, results suggest that Italian livestock firms tend to enact a wait and see strategy, along with adaptation measures when faced with unexpected disruptive events due to changes in the natural environment. On the whole, our study contributes to the ongoing debate on climate change risk by shedding light on firms’ reactions to unpredictable uncertainties and by exploring the role of industry- and entity specific characteristics in shaping risk responses.

This study aims to explore whether and how HR practices aimed at improving female involvement in the workplace along the employee life cycle affect the firm’s intellectual capital. In doing so, we take a nuanced perspective that disentangles the Value-Added Intellectual Capital (VAIC) into its three dimensions of human capital efficiency (HCE), structural capital efficiency (SCE), and capital employed efficiency (CEE). We built a dataset of 70 firm/year observations of Italian listed firms ranked in the Top45 list of Stoxx Italy 45 ESG-X as of March 2020. Based on this, we run Tobit regression analyses to assess the impact of three areas of HR practices in terms of female involvement, i.e. recruitment, development and training, and retention, on the three dimensions of the VAIC. Results indicate that female-sensitive HR practices related to recruitment positively affect structural capital efficiency, while development and training are negatively associated with capital employed efficiency. This study offers several implications to managers, in terms of encouraging the adoption of a female orientation in their HR practices along the entire employee life cycle. Managers should also be aware that various HR practices have different time manifestations on the drivers of intellectual capital. This paper contributes to the ongoing debate on the connections between diversity management and intellectual capital by disentangling the various dimensions of the VAIC and separately assessing the impact of different HR practices along the employee life cycle

Il contributo presenta un commento relativo all'andamento economico-finanziario delle aziende appartenenti al settore chimico-farmaceutico presenti nel territorio piacentino per il 2021.

Il capitolo si propone di illustrare le criticità correlate alla costruzione del bilancio di esercizio secondo la struttura prevista dal Codice Civile relativamente a schemi di sintesi, nota integrativa e relazione sulla gestione. La trattazione illustra altresì le tecniche dell'analisi di bilancio per una efficace interpretazione dei valori economico-finanziari esposti nei documenti in esame. Nella prospettiva delineata, la riclassificazione dei prospetti di Conto economico e Stato patrimoniale, mediante la riespressione dei dati di bilancio, costituisce un primo strumento di indagine al fine dell'apprezzamento dello stato di salute aziendale.

The chapter is focused on objectives and assumptions underlying general purpose financial reporting, analyzing requirements and implications of financial information qualitative characteristics on accounting data production. Moving from the description of the true and fair view, it therefore illustrates the accounting principles stated by the Italian Civil Code for the preparation and presentation of financial statements.

This study aims to explore the effect of family firms’ corporate governance characteristics on their acquisition propensity: as the extant literature is increasingly emphasizing the heterogeneity of family firms and is calling for further insights into the peculiarities affecting their decision-making processes, our objective lies in identifying corporate governance mechanisms that influence their acquisition attitude. Thus, building on the behavioural agency theory, we investigate the effect of family members’ ownership stake, their involvement in the board of directors (BoD), the family versus non-family chief executive officer (CEO), and the generational step on the propensity to execute acquisitions. We test our framework on a sample of 207 acquisitions executed by Italian listed family firms in the 2014–2020 period. In line with our prediction, we find evidence that family members sitting on the board of directors are negatively associated with acquisitions. However, when family firms are guided by a family versus a non-family CEO, the willingness to embark on acquisitions increases. Family ownership is a non-significant driver of the propensity to acquire, which further confirms the importance of decision-making bodies. Finally, the propensity to acquire does not appear to be driven by whether the firm is still in its first versus later generations. Overall, our study contributes to the ongoing conversations on the heterogeneity of family firms and offers several implications for both theory and practice.

Purpose Building on behavioral agency theory, the authors explore the role played by corporate governance characteristics as drivers of the diversification strategies of family firms. Specifically, this study aims to investigate the effects of board size and board gender diversity on the likelihood that family firms will execute a diversifying acquisition vis-à-vis a related acquisition. Furthermore, the authors investigate the contingency effects played by foreign directorship and the firm’s listing status. Design/methodology/approach The hypotheses are tested on an original sample of 213 cross-border acquisitions executed by Italian family firms between 2008 and 2021. Findings The findings suggest that both large board sizes and greater gender diversity positively affect the diversification of family firms. While the presence of foreign directors magnifies the positive effect of board size, gender diversity discourages diversification in the case of listed firms. Originality/value The originality of this study is twofold. First, while prior literature has mostly focused on the family vs nonfamily dichotomy, this paper contributes to an emergent line of research investigating the heterogeneity among family firms’ corporate strategy decisions. Second, by exploring the corporate governance-diversification link in the context of family business, the authors answer to recent calls that diversification by family firms deserves further investigation in light of its highly controversial nature in terms of socioemotional wealth implications and potential mismatch among multiple objectives.

Il capitolo si propone di illustrare le criticità correlate alla costruzione del bilancio di esercizio secondo la struttura prevista dal Codice Civile, proponendo le tecniche dell'analisi di bilancio per una efficace interpretazione dei valori economico-finanziari esposti nei documenti di sintesi. Nella prospettiva delineata, la riclassificazione dei prospetti di Conto economico e Stato patrimoniale, mediante la riespressione dei dati di bilancio, costituisce un primo strumento di indagine al fine dell'apprezzamento dello stato di salute aziendale

Purpose – This study aims to investigate the relationship between family managers and firms’ risk levels in a context characterized by low investor protection and firm opacity. Specifically, this paper examines whether the level of risk faced by firms is affected by family shareholders’ ownership stake and activism. Design/methodology/approach – Corporate governance data were hand-collected for a sample of 90 Italian listed companies and 540 observations from the year 2018. Regression analysis was then used to test the research hypotheses. Findings – This study provides evidence of a positive association between active family ownership and risk faced by sampled firms. This study also finds that the number of inside directors is negatively correlated with firms’ risk-taking. Overall, the results confirm family managers’ influence on firms’ risk choices and show consistency with theoretical arguments in favor of hiring professional managers to guide family-owned firms. Practical implications – Practical implications emerge from the study findings. First, family owners should consider to hire a larger number of professional managers to support firms’ wealth maximization and retention and to reduce default risks. Second, investors should take into account the firms’ board of directors and management composition to better assess the investments risk level. Finally, the positive correlation between active family owners and systematic risk suggests the opportunity for regulators to improve the legal requirements related to minority directors to increase their effectiveness and, therefore, minority shareholders’ protection. Originality/value – This study extends the literature on the association between ownership structure and firms’ risk levels, showing the effect of family managers on firms’ risk levels. Besides, to the best of the authors’ knowledge, no previous study investigates professional executives’ influence on risk when family ownership prevails.

Il contributo presenta un commento relativamente all'andamento economico-finanziario delle aziende appartenenti al settore chimico-farmaceutico presenti nel territorio piacentino per il 2020.

Il contributo esamina l'andamento delle imprese del settore prefabbricati e costruzioni operanti nel territorio piacentino, alla luce degli impatti della pandemia.

Il contributo espone i risultati dell'analisi economico-finanziaria delle imprese operanti nel settore chimico-farmaceutico del territorio piacentino

Il contributo espone i risultati dell'analisi economico-finanziaria delle imprese operanti nel settore delle costruzioni del territorio piacentino

Il capitolo tratta il tema delle pari opportunità e dei fenomeni di segregazione di genere che contraddistinguono il rapporto donne-lavoro, approfondendo le azioni di contrasto poste in essere sia in ambito pubblico che a livello delle singole organizzazioni, mediante l'implementazione di pratiche di equality e diversity management. Alla luce della letteratura esistente, la trattazione descrive i risultati di una content analysis di carattere esplorativo volta ad apprezzare la disclosure volontaria delle aziende in merito a pratiche e azioni adottate ai fini di favorire la riduzione del gender gap. Le evidenze emerse confermano quanto riportato dai precedenti studi, coerentemente ai quali si rileva l'assenza di dati idonei a misurare efficacia e outcomes delle misure implementate.

Il contributo espone i risultati dell'analisi economico-finanziaria delle imprese operanti nel settore delle costruzioni del territorio piacentino

Il capitolo si propone di illustrare le criticità correlate alla costruzione del bilancio di esercizio secondo la struttura prevista dal Codice Civile, proponendo le tecniche dell'analisi di bilancio per una efficace interpretazione dei valori economico-finanziari esposti nei documenti di sintesi. Nella prospettiva delineata, la riclassificazione dei prospetti di Conto economico e Stato patrimoniale, mediante la riespressione dei dati di bilancio, costituisce un primo strumento di indagine al fine dell'apprezzamento dello stato di salute aziendale

Il capitolo si propone di illustrare le criticità correlate alla costruzione del bilancio di esercizio secondo la struttura prevista dal Codice Civile, proponendo le tecniche dell'analisi di bilancio per una efficace interpretazione dei valori economico-finanziari esposti nei documenti di sintesi. Nella prospettiva delineata, la riclassificazione dei prospetti di Conto economico e Stato patrimoniale, mediante la riespressione dei dati di bilancio, costituisce un primo strumento di indagine al fine dell'apprezzamento dello stato di salute aziendale

Il contributo approfondisce i concetti di audit e compliance, indagandone il ruolo strumentale nell'ambito della governance e della gestione aziendale e ponendone in luce differenze e sinergie, alla luce della normativa nazionale e delle best practices attuate in ambito internazionale.

Il capitolo si propone di esaminare le disposizioni contenute nella Riforma del Terzo settore relativamente alla tenuta della contabilità e alla predisposizione del bilancio di esercizio, delineandone il perimetro di applicazione ed analizzandone l'evoluzione rispetto alla normativa previgente. Tali premesse concettuali sono successivamente oggetto di approfondimento al fine di ipotizzarne la possibile implementazione da parte degli Enti religiosi, in considerazione delle peculiarità gestionali e delle categorie di portatori di interessi proprie alle organizzazioni in esame. Alla luce di quanto sopra, e coerentemente alla letteratura esistente in materia, il contributo propone soluzioni operative per la costruzione dei prospetti contabili di sintesi idonei alla rappresentazione dei risultati conseguiti dalla gestione.

Il contributo esamina il ruolo della comunicazione economico-finanziaria quale strumento di governo societario, con particolare riferimento ai gruppi aziendali. In considerazione della peculiare rilevanza rivestita delle minoranze aziendali nella fattispecie in esame, l'informativa periodica è osservata nella veste di componente essenziale dei meccanismi di tutela degli interessi istituzionali, in relazione al contributo offerto dalla trasparenza al soddisfacimento delle attese degli outsider.