Andrea Venturelli, Fabio Caputo, Rossella Leopizzi and Simone Pizzi
According to the Directive 2014/95/EU on non-financial information (NFI), from 2017 onwards, large companies of member states will be required to provide a series of social…
Abstract
Purpose
According to the Directive 2014/95/EU on non-financial information (NFI), from 2017 onwards, large companies of member states will be required to provide a series of social, environmental and governance disclosures. This paper, focusing on the evaluation of the quality of NFI in the UK and Italy before the implementation of the EU Directive, aims to investigate which factors affect the quality of NFI in the comparison between the UK and Italy.
Design/methodology/approach
To evaluate the “state of the art” of NFI in corporate social disclosure of British and Italian listed companies, a non-financial score is created, based on specific items concerning the requirements of the EU Directive. To this aim, the authors analyzed the corporate disclosures of 343 large listed companies.
Findings
Findings show that the UK is more compliant than Italy. So, regulation could be important to improve NFI in Italy more than in the UK. The results could represent relevant evidence for European policymakers of the action agenda “emphasizing the importance of national and sub-national CSR policies”.
Originality/value
This research represents a preliminary analysis on the EU Directive and on its potential effects. Moreover, this study strengthens the previous literature on the quality of non-financial disclosure.
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Stefano Coronella, Fabio Caputo, Rossella Leopizzi and Andrea Venturelli
The purpose of this paper is to provide an analytical overview of the academic output of eminent Italian scholars in the period from the end of the Second World War to the 1970s…
Abstract
Purpose
The purpose of this paper is to provide an analytical overview of the academic output of eminent Italian scholars in the period from the end of the Second World War to the 1970s on the subject of corporate social responsibility (CSR).
Design/methodology/approach
Through the use of content analysis, possible logical and conceptual similarities between the theories of the scholars and present-day definition of CSR have been identified.
Findings
Concepts as ethical values and stakeholders included in definition of CSR come from the thinking of the Italian Economia Aziendale scholars, so that it is possible to get pioneering aspects in the light of the international debate on CSR today.
Originality/value
The originality of this paper derives from the fact that the theme of CSR has rarely been examined from a historical point of view and that the development of the theme in Italy has rarely been examined through analysis of the ideas of the leading Italian Economia Aziendale Scholars.
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Simone Pizzi, Rossella Leopizzi and Andrea Caputo
This study aims to investigate the evolutionary pathways adopted by a digital platform to favor the development of an entrepreneurial ecosystem inspired by circular economy…
Abstract
Purpose
This study aims to investigate the evolutionary pathways adopted by a digital platform to favor the development of an entrepreneurial ecosystem inspired by circular economy behaviors, becoming an enabler in the development of a coevolutionary relationship between entrepreneurial ecosystems and circular economy.
Design/methodology/approach
An in-depth single-case study method has been applied, investigating the case of circularity.com, the first and only circular economy industrial symbiosis platform in Italy.
Findings
The paper shows how digital platforms can transition towards circular business models, particularly for small and medium enterprises (SMEs). Moreover, the findings show how sustainable platforms' need to revise their business models to effectively engage with stakeholders. The analysis also shows the central role covered by entrepreneurial ecosystems in the transition towards a more circular and sustainable business models.
Originality/value
This paper contributes to theoretical development by offering new and insightful explanations of firms' behavior and coevolution, moving beyond the classic interpretation of industry dynamics and analyzing a unique case study. This study has implications for both practice and research, as it offers a better and more holistic understanding of the enabling role of digital platforms for a circular economy.
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Simona Cosma, Rossella Leopizzi, Lorenzo Nobile and Paola Schwizer
The purpose of this paper is to shed light an important limit of the Non-Financial Reporting Directive (NFRD) in pursuit of its substantial purpose, which is to achieve…
Abstract
Purpose
The purpose of this paper is to shed light an important limit of the Non-Financial Reporting Directive (NFRD) in pursuit of its substantial purpose, which is to achieve sustainability and contribute to achieving the objectives of United Nation (UN) Agenda 2030; the paper also suggests how to overcome those limits.
Design/methodology/approach
The study used a survey of board members of listed and un-listed Italian companies. Data were analysed using an ordered probit model.
Findings
The results show that a greater involvement of a board member in the non-financial reporting process is associated with a stronger commitment towards sustainable development. Specifically, the involvement in materiality assessment is positively associated with more proactive behaviours towards sustainability.
Research limitations/implications
The use of self-reported assessments on beliefs and behaviours and the application of an online survey are methodology limitations of the study. Regarding theory, the study contributes to the literature on corporate governance and sustainability, integrating upper echelons theory, which focuses on how individual attributes influence a firm's strategies and governance, with research on how leadership practices can have a positive impact on corporate sustainability goals.
Practical implications
The paper underscores the opportunity for policymakers to increase the effectiveness of the NFRD through deeper involvement of the board members in the process of non-financial reporting. The results could also be of interest to governance bodies in terms of defining a board's tasks and practices to encourage the adoption of behaviours oriented towards a stronger engagement in sustainable issues.
Originality/value
This is the first study to provide evidence of the relationship between individual directors' tasks and behaviours, non-financial reporting and Sustainable Development Goals (SDGs). This study highlights some of the limits of the NFRD, even after the public consultation to revise it, and suggests how to overcome these limits.
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Chiara Mio, Andrea Venturelli and Rossella Leopizzi
The purpose of this paper is to examine the relationship between remuneration for the achievement of objectives and sustainability, and – more specifically – the amount of…
Abstract
Purpose
The purpose of this paper is to examine the relationship between remuneration for the achievement of objectives and sustainability, and – more specifically – the amount of attention that listed companies in Italy devote to defining, and consequently to communicating externally, sustainability as a criterion in establishing the wage levels of managers and directors.
Design/methodology/approach
It was decided to ascertain whether the quality of information regarding sustainability provided in connection with the remuneration policies of listed companies tallies with the general quality of information regarding sustainability provided through companies’ main (obligatory and voluntary) reporting procedures.
Findings
The results of this research show that the inconsistency between the information provided in voluntary and obligatory reports (between reports on sustainability and remuneration reports) extends to the levels of information provided in the two types of obligatory report (the reports on remuneration and on management); there is also a discrepancy between the levels of information provided in these reports and the evaluation of that information by an external assessor.
Research limitations/implications
One of the limitations of this research is that as the data examined were gleaned from public documents, it is not necessarily an accurate reflection of all the information that firms have at their disposal on questions of sustainability and remuneration policies. The existence of internal documents containing other information, and therefore leading to different results, cannot be ruled out.
Originality/value
This study is the first in Italy to examine the question of how limited companies report issues relating to management by objectives-corporate social responsibility. It does this through the introduction of a mixed system for ESG information, which counteracts the subjective limitations of the internal evaluation provided by the research group by adding in the authoritative evaluations of an external assessor.