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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.

Introduction: Facilitated implementation of nurse-initiated protocols to manage fever, hyperglycaemia (sugar) and swallowing (FeSS) following stroke significantly reduces 90-day death and disability. We present results on FeSS protocol uptake in multiple European countries, including low-and-middle income countries, following implementation facilitation arising from our international collaboration with the European Stroke Organisation, Angels Initiative, and Registry of Stroke Care Quality. Method(s): Our multi-country, multi-centre, pre-test/post-test study was conducted between 2017- 2021. Data were provided at baseline and three months after FeSS protocol implementation. Nursing clinical champions, with support from the Project team (European Liaison Officer, Angels Consultants, Country Coordinators and the Nursing Research Institute) conducted multidisciplinary workshops to examine baseline results, identify barriers and facilitators to protocol implementation, and held education sessions. Outcomes were adjusted for clustering by country and hospital controlling for age/ sex/NIHSS. Result(s): Data from 76 hospitals (18 countries) were received for 3999 patients at baseline, and from 64 hospitals (17 countries) for 3257 patients post-implementation (Total n=7256). Significantly increased proportion of patients received care from pre to post according to the: fever protocol (Pre: 16%, Post: 51%, p<0.0001): hyperglycaemic protocol (Pre: 16%, Post: 52%, p<0.0001): swallow protocol (Pre: 41%, Post: 67%, p<0.0001); and the FeSS Protocols overall (Pre: 3.2%, Post: 35%, p<0.0001). Significant improvements were also found in low-and-middle income countries. Conclusion(s): Facilitated implementation of nurse-initiated FeSS protocols demonstrated successful large-scale translation of evidence into countries with different health care systems, many of which with no access to reperfusion therapies-a European first. This will reduce death and disability post-stroke.

Background and aim: The QASC Europe project significantly improved nurse-initiated management of fever, hyperglycaemia (sugar) and swallowing (FeSS) in European stroke units with vastly different health care systems. We examined pre-post country management using the 2021-2022 World Bank income classifications. Method(s): This pan-European pre-test/post-test study (2018-2021) collected data at baseline and three months after FeSS protocol implementation. Clinical champions conducted multidisciplinary workshops to feedback baseline audit data, provided education, and identified barriers to protocol implementation. Outcomes were adjusted for age, sex, NIHSS and for clustering by site and country. The interaction between country classification (high income countries [HIC] vs middle income countries [MIC]) and time (pre/post) tested differences in proportions. Result(s): Pre-implementation data were analysed from 76 hospitals in 18 countries (eight HIC, ten MIC) (n=3999 patients); and post-implementation from 64 hospitals in 17 countries (seven HIC and the same ten MIC) (3257 patients). Significant pre-to-post improvements were made in both HIC and MIC (Adjusted difference in proportion HIC:(24% (16%,33%), MIC:(25% (15%,34%)). Post-implementation FeSS Protocol adherence were broadly similar between HIC and MIC. There was no difference in post-implementation overall FeSS Protocol adherence between HIC and MIC (p=0.8909). Conclusion(s): Our nurse-initiated intervention was highly effective in improving stroke management in all countries irrespective of their income level classification. The clinical significance of these improvements in MIC is noteworthy in that many of these hospitals have limited access to stroke care including acute reperfusion therapies. Upscaling of effective stroke interventions is essential to improving stroke care globally.

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.

Identifying a correct definition of business strategy is not an easy step. One of the most cited historical definitions is that of Ansoff on the basis of which strategic decisions are primarily connected to the external problems of the company (environment), rather than to internal ones and regard in parti-cular the choice of the range of goods that the firm will produce, and the markets where it will sell them. The rest of the chapter focuses on the following topics: Activities, resources, relationships– 1.3. Industry and market analysis – 1.4. Business stra-tegy and competitive performance. – 1.5. Business strategy and financial performance. – 1.6. Business strategy and sustainability performance. – 1.7. Competitive dynamics and strategic innovation.

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.

Background and Aim: Assisted implementation of FeSS protocols following stroke significantly reduces 90-day death and disability and longer-term mortality. The QASC Europe project, a novel international collaboration between: Nursing Research Institute (NRI); European Stroke Organisation; Angels Initiative; and Registry of Stroke Care Quality (RES-Q) facilitated implementation of nurseinitiated Fever, hyperglycaemia (Sugar) and Swallowing (FeSS) protocols into stroke units across Europe. Method(s): A multi-country, multi-centre pre-test/post-test study was conducted (2017-2021). Baseline and post-implementation data (3-months after FeSS protocol introduction) were entered into RES-Q. Nursing clinical champions, with support from the Project team (European Liaison Officer, Angels Consultants, Country Coordinators and the NRI) conducted multidisciplinary workshops identifying barriers and facilitators to protocol implementation and held education sessions. Outcomes were adjusted for clustering by country and hospital controlling for age/sex/NIHSS. Result(s): At baseline, 76 hospitals in 18 countries (n=4196 patients); and post-implementation, 64 hospitals in 17 countries (3348 patients) participated (Total n=7544). There were improvements in: temperature monitoring on day of admission (Pre: 43%; Post: 79%, p<0.00001); treatment of fever >37.5degreeC with paracetamol within one hour (Pre: 57%; Post: 79%, p<0.00001); blood glucose monitoring on day of admission (Pre: 38%; Post: 75%, p<0.00001); treatment of hyperglycemia >10mmol/L with insulin within one hour (Pre: 59%; Post: 75%, p<0.00001); and swallow screening before food or fluids (Pre: 59%; Post: 83%, p<0.00001). Conclusion(s): This international collaboration has enabled the success of large-scale implementation of FeSS protocols into countries with vastly different health care systems. Similar partnerships should be considered for future translation of effective stroke interventions to reach a greater proportion

Background and Aims: The QASC Europe project significantly improved nurse-initiated management of: fever, hyperglycaemia (sugar) and swallowing (FeSS) in European stroke units with varying health care systems. We examined pre-post management for low-and-middle-income-countries (LMIC). Method(s): Data from this multi-site, multi-country, pre-test/post-test study (2018-2021) were collected at baseline and three months after FeSS protocol implementation. Clinical champions conducted multidisciplinary workshops to feedback baseline audit data results, provided education, and identified barriers to protocol implementation. Outcomes were adjusted for age, sex, NIHSS, country and within clustering by site. Result(s): Data were received from 76 hospitals in 18 countries (n=4196 patients); and post-implementation, 64 hospitals in 17 countries (3348 patients). 13 hospitals (pre-implementation, n=648 patients) and 9 hospital (post-implementation, n=444 patients) from six LMIC Significant improvements were achieved from pre-to-post implementation in LMIC for: monitoring of temperature at least four times on day three (26% vs 62%, p=0.018); venous blood glucose level (BLG) on admission (86% vs 98%, p=0.0256); BGL monitored four times/day on day of admission to stroke unit (51% vs 84%, p=0.001); swallow screen/assessment performed before oral medication (73% vs 94%, p=0.039); and swallow screen/assessment before being given oral food or fluid (76% vs 93%, p=0.007). Results from LMIC were broadly consistent with those from high-income countries. Conclusion(s): Our nurse-initiated intervention was highly effective in improving stroke outcomes in LMIC. While LMIC are known to have reduced thrombolysis rates, that they are providing comparable evidenced-based care for fever, hyperglycaemia and swallowing is noteworthy. Upscaling of effective stroke interventions is essential to improving stroke outcomes globally.

Background and Aims: The Quality in Acute Stroke (QASC) trial demonstrated a significant reduction in death and disability when clinicians were assisted to introduce protocols to manage fever, hyperglycaemia (sugar) and swallowing (FeSS) following stroke. A unique international collaboration between the Nursing Research Institute, Australian Catholic University; the European Stroke Organisation; and the Angels Initiative is underway to implement the FeSS Protocols into 20 European countries. We present baseline (pre-FeSS implementation) results for management of these important physiological parameters post-stroke Methods: Data were entered into the European Registry of Stroke Care Quality (RES-Q) for 7 indicators of FeSS care between 2017-2019. Result(s): Forty hospitals from 13 countries completed baseline data entry (n=2266 patients). Paracetamol was administered within one hour following temperature >37.5degreeC C for 58% of patients (n=214/367). When glucose was >10mmols/L, 60% of patients (n=241/403) received insulin within one hour. 57% of patients (1293/2266) received a swallow screen or assessment before being given oral food, fluids or medications. Conclusion(s): All FeSS processes of care need improving, and we are actively working with the Angels Initiative and clinicians to implement the FeSS protocols which have been translated into 13 different languages. Successful large-scale implementation of these evidence-based, nurse-initiated protocols into countries with vastly different health care systems, many of whom also have no access to reperfusion therapies, is likely to make a significant impact on reducing death and disability after stroke.

BACKGROUND: Emergency departments (ED) are challenging environments but critical for early management of patients with stroke. PURPOSE: To identify how context affects the provision of stroke care in 26 Australian EDs. METHOD(S): Nurses perceptions of ED context was assessed with the Alberta Context Tool. Medical records were audited for quality of stroke care and patient outcomes. FINDINGS: Collectively, emergency nurses (n = 558) rated context positively with several nurse and hospital characteristics impacting these ratings. Despite these positive ratings, regression analysis showed no significant differences in the quality of stroke care (n = 1591 patients) and death or dependency (n = 1165 patients) for patients in EDs with high or low rated context. DISCUSSION: Future assessments of ED context may need to examine contextual factors beyond the scope of the Alberta Context Tool which may play an important role for the understanding of stroke care and patient outcomes in EDs.Copyright © 2020 Elsevier Inc. All rights reserved.

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.

BACKGROUND/OBJECTIVES: To evaluate the efficacy of a multidomain intervention to reduce lifestyle risk factors for Alzheimer's disease (AD) and improve cognition in individuals with subjective cognitive decline (SCD) or mild cognitive impairment (MCI). DESIGN: The study was an 8-week two-arm single-blind proof-of-concept randomized controlled trial. SETTING: Community-dwelling individuals living in Canberra, Australia, and surrounding areas. PARTICIPANTS: Participants were 119 individuals (intervention n = 57; control n = 62) experiencing SCD or MCI. INTERVENTION: The control condition involved four educational modules covering dementia and lifestyle risk factors, Mediterranean diet, physical activity, and cognitive engagement. Participants were instructed to implement this information into their own lifestyle. The intervention condition included the same educational modules and additional active components to assist with the implementation of this information into participants’ lifestyles: dietitian sessions, an exercise physiologist session, and online brain training. MEASUREMENTS: Lifestyle risk factors for AD were assessed using the Australian National University-Alzheimer's Disease Risk Index (ANU-ADRI), and cognition was assessed using Alzheimer's Disease Assessment Scale-Cognitive subscale, Pfeffer Functional Activities Questionnaire, Symbol Digit Modalities Test (SDMT), Trail Making Test-B, and Category Fluency. RESULTS: The primary analysis showed that the intervention group had a significantly lower ANU-ADRI score (χ2 = 10.84; df = 3; P =.013) and a significantly higher cognition score (χ2 = 7.28; df = 2; P =.026) than the control group. A secondary analysis demonstrated that the changes in lifestyle were driven by increases in protective lifestyle factors (χ2 = 12.02; df = 3; P =.007), rather than a reduction in risk factors (χ2 = 2.93; df = 3; P =.403), and cognitive changes were only apparent for the SDMT (χ2 = 6.46; df = 2; P =.040). Results were robus