Recent Empirical Analysis on Public Service Companies Transparency: Case of Italy

In recent years the role of public services has acquired increasing relevance on account of the growing awareness of the importance of such services in the social and economic development of a country. This is determined primarily by the demand for quality and good value (for money) by an ever more sensitive public (which has brought under analysis the methods of traditional service providers, no longer seen as able to respond efficiently to the changing and diversified needs of society), the need to conform to EU directives and the effects of liberalization and from an internal perspective of the industrial and institutional reorganization of the public sector. After a description of the theoretical background, the present study is aimed to analyse the transparency of the public service companies listed on the Italian Stock Exhange. Given the fundamental role played by these companies, this sudy investigates the levels of total and partial disclosure and identifies the successful elements as well as those areas where improvements could be made. In particular, for the research conducted, an attempt was made to adopt an index capable of showing a measure of the quality of transparency undertaken by the case-study companies in the FTSE Italy Public Services Sector. In order to meet this aim, the work is based on an index of “corporate e-governance” used by Gandia. Based on the variables considered in the analysis of the websites, no company provides total disclosure with maximum values; the company which offers total disclosure with the highest value is Enel (9.52) while Ergycapital has the lowest value (3.14). Research thus shows that, it is necessary to improve the quality of disclosure of the public utilities companies listed on the Italian Stock Exchange

Corporate governance and performance: An analysis of Italian listed companies

In recent years, both corporate governance and performance management have been subjected to considerable changes. In this dynamic context, it is interesting to study the evolution of the relationship between performance and governance. Does governance still affect performance? The purpose of this paper is to verify the presence and intensity (extent) of the relationship between corporate governance and performance in Italian listed companies by using both accounting and nonaccounting performance measures. The purpose of this paper is to investigate the effects of prior firm performance on board composition and governance structure of some companies listed on the Italian stock exchange, analysing how a governance approach influences the performance of sample companies. For the research the methodology used is quantitative and we used regression analysis on a sample of 23 Italian listed companies: mechanical companies and public utilities to find that the company's performance was positively related to the size of the board. The empirical analysis conducted allowed us to verify the hypothesis according to which the increase in Corporate Governance Best Practices influences company performance. However, the results we have received do not allow us to arrive at completely unequivocal interpretations. The results showed we have received do not allow us to arrive at completely unequivocal interpretations; the main limit is the sample size used in this study was relatively small

Innovative IC framework in the non profit sector

The importance of intellectual capital in the non-profit sector generates the need to measure its role in the value creation process. The purpose of the paper is to study the application of intellectual capital within the non-profit sector, by turning attention to resources such as: knowledge, experience, and skills. Organizations, which are able to increase the knowledge of their staff and transform this knowledge into skills to improve services, can easily meet users’ needs and, thereby, become competitive. This contribution proposes to study how people’s knowledge can contribute to increasing social value, which is the non–profit organization’s aim. Furthermore, the goal is to demonstrate how collaboration between staff and volunteers is essential to professional services. Finally, the research proposes a conceptual framework in which intellectual capital helps in defining the strategic issues, which non–profit organizations must tackle in order to achieve their social programs

Intellectual capital in the italian Public Service sector: analysis on management and governance

Today measurement of companies economic, financial and social performance must take into account the role played by intangible assets. It is widely accepted in the literature that the latter, in the sense of resources without physical substance, are key factors in ensuring competitiveness. For this reason, more and more companies are anxious to develop effective and efficient tools to define, manage, monitor, evaluate and communicate the importance of their intangible assets. The definition and classification of intangible assets is still an open question (Zambon 2004; Marr and Neely 2004). We sometimes speak of intangible assets, and at other times intellectual capital. Recognition of the importance of intangible assets (namely the body of knowledge, know-how, organizational and interpersonal skills and so on) has led public service organisations to assess their role in the process of value creation. It is very important for such organisations (public or non profit) to communicate and demonstrate the quality of services provided; it is also crucial for them to generate social value. They need to give an account of their work in terms of efficiency, effectiveness, and overall performance. This requires, therefore, reporting on the economic relationship between the achievement of results and use of resources and an assessment of the quality of their work, and this is not achieved simply by considering the economic value of resources used by the organization, but also by taking into account other variables not immediately tangible and visible. The purpose of this study is to investigate how intellectual capital influences the management and governance of public utility companies listed on the Italian Stock Exchange. The research focuses on the importance and role played by such variables as knowledge, sharing ideas, and the exchange of experiences, personal skills, i.e. on a set of fundamental drivers, for better value creation. It is essential that resources be used to improve services and meet the needs of the public. In particular, we investigate, through an analysis of existing data, how intellectual capital interacts with the management and governance of public service sector listed companies. To this end, an analysis is carried out on public utilities listed on the Italian Stock Exchange (A2A, Acea, Aceagas-Aps, Drinking Water, ACSM-Agam, Alerion, Ascopiave, Edison, Enel, Enel Green Power, Erg Renew, Ergycapital, Falk Renewables, Hera, Iren, KR Energy, Snam Rete Gas, Terna, TerniEnergia)

Disclosure of innovation on sustainability report

Purpose – There are several studies on various aspects of the disclosure of companies but there is little research on elements related to the disclosure of innovation in particular. The work aims to fill this important gap by examining to what extent the companies listed on the Italian Stock Exchange, which prepare the sustainability report (non-financial declaration – NFS), disseminate information relating to innovative activities. Design/methodology/approach – The methodology used to achieve the research goal has used multiple linear regression models (OLS), to study the factors that influence disclosure. The data were collected through the content analysis. The sample is made up of 171 companies listed on the Italian stock exchange which prepared a sustainability report for the period of four years 2016–2019 (Sustainability Reports and Integrated Documentation) and which contain information on innovative activity. Findings – The research confirms a positive relationship between information on innovation and the economic variables of corporate investment. In addition, an important relationship emerges linked to the disclosure of innovative information and the business sector, innovation investments and R&D activity. Research limitations/implications – The work suffers from some limitations: the short period of observation subject to analysis, the lack of sustainability report 2020, the extension of the variables taken into consideration for the implementation of the regression models; it is desirable to consider a wider pool of variables in the future in order to implement further specific tests. Practical implications – On a practical level, the research suggests the adoption of a framework on the dissemination of innovative activity that allows easy reading of information (regardless of the sector and company size), built starting from the most representative keywords of the activities innovative, to be included in a specific section of the Sustainability Report. This work contributes to filling a cognitive gap connected to the disclosure of the innovative activity. There is much research on disclosure related to business activities, but no specific research regarding the communication of innovation. Originality/value – The study conducted contributes to fill a gap in the literature related to the disclosure of the innovative activity. The latter is a strategic element for effective and clear communication with stakeholders

Diversità di genere e sistema sanitario: un’analisi su un campione di aziende sanitarie italiane

Il lavoro analizza in che misura la diversità di genere fa parte delle attuali pratiche delle aziende sanitarie. Attraverso un’analisi di tipo statistico-inferenziale su un campione di 39 strutture ospedaliere appartenenti al Gruppo San Donato, ha lo scopo di valutare se la presenza delle donne nel CdA influenza la performance aziendale. I risultati suggeriscono che la diversità nelle aziende sanitarie è un tema poco esplorato e non mancano opportunità e ostacoli al percorso di carriera delle donne. L’analisi di correlazione e regressione conferma che la presenza delle donne è positivamente correlata all’indice di performance delle strutture; la strada per arrivare alla parità non è breve e implica che le aziende sanitarie, se vogliono garantire parità di genere, devono riprogettare e migliorare l’organizzazione interna aprendo i loro CdA più ampiamente alle donne.Gender diversity and health system: An analysis on a sample of Italian companies The work analyzes the extent to which gender diversity is part of current health care practices. Through a statistical-inferential analysis on a sample of 39 hospitals belonging to the San Donato Group, it aims to assess whether the presence of women on the Board influences the business performance. The results suggest that diversity in healthcare organizations is a little explored issue and there is no shortage of opportunities and obstacles to women’s career paths. The correlation and regression analysis confirms that the presence of women is positively correlated with the performance index of companies; the road to achieving gender equality is not short and involves a redesign and improvement of health care companies organization which must open more the Boards to women

A new third sector intellectual capital model

The Intellectual Capital (IC) report has become a fundamental tool in the disclosure of non-profit activities, since it is necessary to use a correct framework to represent IC. To achieve the aim of the paper the work is developed as follows: the existing literature on non-profit organizations (NPOs) and IC is examined and relevant aspects to be measured by IC indicators and disclosed by an IC report in the above context are brought into focus. Then extant frameworks for IC reporting are outlined in order to verify whether they fit the aspects qualified as relevant in NPOs and it is pointed out what they lack with reference to the NPOs context. The aim of the paper is to propose an original framework containing a new set of indicators. The proposed framework is tested in an Italian NPO. The result is to disclose new aspects of activity carried out by NPOs involving knowledge, skill and their relationship with the surrounding communit

A new Intellectual capital framework in the no profit sector

Intellectual capital (IC) is a key driver in value creation. According with the above more and more companies, for profit as well as no profit organizations (NPOs), direct their attention to new tools able to communicate to the stakeholders their intangible assets as value creator driver. IC in for-profit companies, but especially in NPOs is positively correlated with the performance. For this reason, during the last years the interest in the importance of IC in NPOs is increased. IC report becomes a fundamental tool in the disclosure of the NPOs’activities. Nowdays is necessary to use a correct frame work to represent the IC in terms of knowledge, skill, procedures and relationship spread into the organization. The aim of the paper is to propose an original framework for IC report addressed to NPOs. To reach paper’s aim the work is developed as follow: first of all is examined existing literature on NPOs and IC in order to identify relevant features of IC in NPOs, and are focused relevant aspects to be measured by IC indicators and disclosed by IC report in the above context. Then are outlined extant frameworks for IC report in order to verify if they fit the aspects qualified as relevant in NPOs and point out what they lack with reference to NPOs context. On these basis the work proposes an original framework, with a new set of indicators inside, that would better fit to NPOs features. Finally the proposed framework is tested in an Italian NPO. The result is to disclose new aspects of the activity carried on by NPOs on the side of knowledge, skill and relationship with the surrounding community