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The purpose of this paper is to provide insights into the implications of board human capital heterogeneity for company innovation by focusing on the educational and the functional background of directors. Moreover, it examines the moderating effect of the CEO expertise-overlap within the innovation domain on the relationship between board human capital heterogeneity and firm innovation.

The hypotheses are tested through a set of ordinary least squares regressions on a unique dataset of 149 Italian high-tech companies observed between 2012 and 2015.

Findings show that the educational and the functional background heterogeneity of directors increase both the innovation input and output. However, results highlight that these relationships are negatively moderated by the CEO expertise-overlap within the innovation domain.

The paper emphasizes the importance of appointing directors with different and specific educational and functional backgrounds to foster the company innovation.

The paper fills a gap in the literature as it has devoted limited attention to the performance implications of board human capital heterogeneity in the high-tech industry where knowledge and skills are the primary sources of value. Moreover, the paper integrates the research on the CEO-board interface by shedding light on how the CEO expertise within the innovation domain affects the contribution of heterogeneous boards to company innovation.

Building upon multiple theories (i.e. agency, signalling and human capital), this paper aims to explore the effects of directors’ education on audit fees and to assess the mediating role of audit committee (AC).

The authors use an econometric analysis of Italian-listed non-financial firms during the period 2012–2015 using single-mediator models through ordinary least squares and logit regressions. Moreover, the authors apply the path analysis with the bootstrap method to test the mediating effect.

Findings show that the directors’ level of education improves audit fees. Additionally, the presence of an AC and the financial expertise of its members mediate this relationship.

By offering insights into the implications for audit pricing of the board and AC human capital, the paper helps regulators and policy-makers to understand which characteristic of such governance bodies improves auditing quality and the provision of better financial reporting.

The study uses a unique data set hand-collected from multiple sources and advances the auditing literature by shedding light on the reasons behind the influence of directors’ characteristics on audit fees and on the role played by the AC.

This study investigates the relationship between board gender diversity (BGD) and the time to Initial Public Offering (IPO), which stands as an entrepreneurially risky choice, particularly challenging in family firms. We also investigate the moderating role of family ownership dispersion (FOD).

We draw on an integrated theoretical framework bringing together the upper echelons theory and the socio-emotional wealth (SEW) perspective and on hand-collected data on a sample of Italian family IPOs that occurred in the period 2000–2020. We employ ordinary least squares (OLS) regression and alternative model estimations to test our hypotheses.

BGD positively affects the time to IPO, thus, it increases the time required to go public. FOD negatively moderates this relationship. Our findings remain robust with different measures for BGD, FOD, and family business definition as well as with different econometric models.

The article develops literature on family firms and IPO and it enriches the academic debate about gender and IPOs in family firms. It adds to studies addressing the determinants of the time to IPO by incorporating gender diversity and the FOD into the discussion. Finally, it contributes to research on women and outcomes in family firms.

The purpose of this paper is to shed light on the relationship between family involvement and Initial Public Offering (IPO) value in the Italian context.

Based on a unique hand-collected data set, the authors test the hypotheses on companies that went public between 2000 and 2011, making inference on 113 firms using OLS hierarchical regressions. The authors quantify the IPO value from an outside investors’ perspective with two measures to proxy for IPO value in the short-term and apply robustness checks for long-run performance. In a stewardship framework, the authors examine demographic variables including family firm status, family involvement in managerial positions and family generations.

The results suggest that family firm status positively influences IPO value, that greater family involvement corresponds to higher IPO value and lastly, that the beneficial effect of family control is mainly attributable to the first generation. The results are robust to alternative specifications of each phenomenon.

As a single-country study, the results refer exclusively to the Italian context and thus the evidence provided may not automatically be generalized to IPOs of comparable equity markets.

This study expands current knowledge by showing how investors “price” family ownership in an IPO; furthermore the authors assess how certain characteristics of family firms affect the IPOs (e.g. family involvement and intergenerational).

This study aims to explore the evolution of corporate governance through a 100-year-old Italian Barilla pasta family business from its founding to 1971. The study builds on prior research which has applied the three-circle model of family business systems in a historic context.

Using legal records, five phases in the history of Barilla are noted. Annual reports and other sources have allowed for some more insights into business events and developments. Then, drawing on the three-circle model of family business, the corporate governance regime is mapped to the model and the family actors.

The findings here support extant literature in that the systems in the three-circle model are found to overlap more in a historic setting. Challenges with the three-circle model are also noted, specifically, when corporate governance is considered across a century of an organisation’s history.

This study supports prior use of three-circle model of a family business in an historic context, providing further evidence the model is not static over time. Contrary to the original three-circle model, this study suggests that family actors can potentially occupy more than one location in the model if the non-human actor of corporate governance and its effect on human actors is also considered.

The excessive consumption of alcohol in numerous countries in the world, combined with the progressively younger age of the consumers, made it necessary for companies to use instruments of communication aimed at the development of consumption responsibility, so as to prevent reckless behaviour and the health risks thereto associated. The purpose of this paper is to assess the visibility and effectiveness of responsible consumption messages used for the sale of the product “beer” (on packaging and in advertisements); the study used a sample audience made up of teenagers and young adults from southern Italy.

The methodology used was that of the focus group. Three interview sessions were conducted, one dedicated to teenagers, age 16–17 years, and two dedicated to young adult panels, age 20–24 years. A ten-question questionnaire was designed prior to the conduction of the focus groups, and it was used in all the sessions.

The study shows the weak efficacy of the “drink responsibly” communication campaigns carried out by beer manufacturers. The totality of the interviewees failed to remember the existence of the “drink responsibly” messages and, even after supplementary visual stimulation, they were mostly disinterested, defining the fact that companies from the alcoholic drinks industry carry out consumption awareness campaigns as an out-and-out nonsensical contradiction.

The survey draws attention to the perception by young audiences of the more recent “drink responsibly” communication campaigns carried out by beer manufacturers, aiming at encouraging a more responsible attitude to alcohol consumption. There still are not many such inquests aimed at determining the response of young people to the use of slogans and commercials connected to responsible drinking in the literature; therefore, this study aimed at filling this gap. In fact, the authors believe this study is important for assessing the effectiveness of such instruments for achieving greater responsibility in the use of alcoholic drinks, so as to develop better awareness in the ranks of youths. Among the new communication strategies that were proposed to the participants, there were video commercials containing responsible consumption messages and the new prohibition marks placed directly on the product labels.