disproportional ownership devices reviewing the last 25 years of research

The paper aims to systematize the literature on disproportional ownership devices by reviewing and classifying 148 articles published in international academic journals over the last 25 years. The findings show that the scholarly attention on disproportional ownership devices has grown over time. Most papers adopt the agency framework and examine the mechanisms for leveraging voting power and to lock-in control, especially in civil law countries. Corporate governance journals prevail as leading outlets, despite the lack of publications specialized on the topic. Finally, the literature systematization highlights a research taxonomy based on outcomes and drivers of disproportional ownership devices. The article has both theoretical and practical implications. First, it develops a literature framework that systematically outlines the main research streams on the topic and identifies under-explored issues so as to guide future scholarly efforts. Second, it highlights the implications of disproportional ownership devices for company outcomes and reporting. Thereby, on the one hand, it supports managers in selecting the appropriate combination of these mechanisms so as to attract and retain investors. On the other hand, it emphasizes the importance of proper policy making interventions to improve transparency, openness and competitiveness of financial markets.</p

Organizing professionals and their impact on performance:the case of public health doctors in the Italian SSN

Hybrid professional managers have been associated with improvements in the performance of public sector organisations. However, less attention has been given to differences within this category. Drawing on board human capital theory, we focus on an emerging group of ‘organising professionals’ with earlier and deeper exposure to management training and education: generalist clinical hybrids drawn from public health in the Italian healthcare system. Specifically, we investigate the impact that these hybrid hospital CEOs have on organisational performance in comparison with other backgrounds. The results indicate that this form of generalist hybrid professionalism has distinct, if not dramatic, consequences for performance

Innovation & Performance Measurement: An Adapted Balanced Scorecard

The aim of this paper is to offer an adaptation of the Balanced Scorecard (BSC) to improve performance measurement within research-intensive network. The paper employs the case study of the network Campania Bioscience to develop an innovation-oriented BSC to show the practical potential of this integrated theoretical approach to innovation, measurement, and control. The study develops specific key performance areas and indicators to enrich each of the four perspectives with the innovation elements (only implicitly considered in the original model). The paper shows the potential of the BSC to achieve a practical and effective interplay between innovation and control. The value of the paper lies in its ability to propose a new innovative-oriented BSC, capable to act as a means of dialogue and mediation in complex organizations, such as research-intensive networks.</p

the influence of blockholders bondholders and families on the venturers accounting behavior

Relying on the opportunistic view of contracting theory, the paper explores the influence of blockholders, bondholders and families on the managerial accounting for interests in jointly controlled entities. In particular, it assumes that the equity method is an opportunistic accounting choice as it improves firm performance and induces managerial self-dealing rather than efficient contracting. The paper examines a sample of Italian listed companies holding interests in jointly controlled entities through a logistic regression analysis. Findings show that the family influence encourages the opportunistic choice of equity method, while the monitoring role played by blockholders and bondholders discourages the use of the performance-improving technique. The research contributes to the literature on contracting theory and corporate governance and has also practical implications for evaluating the appropriateness of IFRS 11.</p