Corporate Governance as a catalyst for ESG Performance: Exploring dynamic and impacts in Italian firms
Anno: 2025
Autori/autrici: Vitali, Sonia
Lingua: ENG
Classificazione IRIS: 8.1 Tesi di dottorato
Scheda completa IRIS: https://iris.univpm.it/handle/11566/340772
Citazioni:
Corporate Governance as a catalyst for ESG Performance: Exploring dynamic and impacts in Italian firms / Vitali, Sonia. - (2025 Mar 25).
Abstract:
Negli ultimi anni, la performance ambientale, sociale e di governance ha suscitato un notevole interesse a livello globale (Rau & Yu, 2024), emergendo come un indicatore cruciale dell’impegno di un’organizzazione verso lo sviluppo sostenibile (Zhang et al., 2024). Le aziende che ...eccellono nella performance ESG sono percepite come maggiormente capaci di gestire i rischi non finanziari, dimostrando al contempo una performance finanziaria aziendale superiore (Chen et al., 2023). Tuttavia, persiste una notevole eterogeneità nelle performance ESG tra le aziende (Crace & Gehman, 2023), stimolando una crescente attenzione nel comprendere i fattori sottostanti che guidano queste disparità (Martiny et al., 2024). In questo contesto, la governance aziendale è stata identificata come un determinante fondamentale della performance ESG (Khaw et al., 2024). Questa tesi indaga la relazione tra governance aziendale e performance ESG, con un focus particolare sui ruoli del consiglio di amministrazione, del top management e degli investitori socialmente responsabili nel contesto italiano. Adottando un approccio multi-metodo, che include l’analisi bibliometrica, lo studio di caso multiplo e la panel analysis con il modello di regressione a effetti fissi, questa ricerca fornisce un esame approfondito di come gli attori della governance influenzino i risultati ESG. Il primo studio utilizza l’analisi bibliometrica (Dontu et al., 2021) per offrire una sintesi dettagliata del corpus di letteratura esistente sull’argomento di ricerca. Analizzando 562 articoli pubblicati su riviste indicizzate nel database Scopus, tra il 1984 e il 2023, questo studio applica tecniche come l’analisi delle co-citazioni, l’analisi delle co-occorrenze e l’abbinamento bibliografico. Questo approccio multi-dimensionale traccia l’evoluzione storica, i cluster tematici e le future direzioni di ricerca in questo campo. Il secondo studio adotta il metodo dello studio di caso multiplo (Yin, 2003) per esplorare come il reporting di sostenibilità funzioni come uno strumento dinamico per il consiglio di amministrazione e il top management, consentendo un impegno crescente verso la performance ESG. Questa ricerca, condotta in quattro piccole e medie imprese italiane (PMI), si basa sul quadro teorico dei “Boundary Objects” (Star & Griesemer, 1989; Carlile, 2002) per analizzare come il reporting di sostenibilità faciliti l’interazione e l’allineamento tra diversi attori della governance, promuovendo così il progresso delle iniziative ESG. Il terzo studio indaga il ruolo degli investitori socialmente responsabili nell’influenzare la performance ESG delle società quotate italiane. Mediante una panel analysis con il modello di regressione a effetti fissi, questa ricerca esamina i dati longitudinali dal 2018 al 2022 per dimostrare l’impatto degli investitori socialmente responsabili domestici e di quelli esteri sulla complessiva performance ESG nonché sui singoli componenti ESG. Nel complesso, questi studi forniscono una comprensione sfumata di come gli attori della governance aziendale modellino la performance ESG, offrendo contributi teorici e spunti pratici per promuovere pratiche aziendali sostenibili.
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Exploring companies’ dialogue on Sustainable Development Goals (SDGs) through sustainability reporting and annual general meetings
Anno: 2025
Rivista: SUSTAINABILITY ACCOUNTING, MANAGEMENT AND POLICY JOURNAL
Autori/autrici: Guidi, Michele; Vitali, Sonia; Giuliani, Marco
Lingua: ENG
Classificazione IRIS: 1.1 Articolo in rivista
Scheda completa IRIS: https://iris.univpm.it/handle/11566/343778
Citazioni:
Exploring companies’ dialogue on Sustainable Development Goals (SDGs) through sustainability reporting and annual general meetings / Guidi, Michele; Vitali, Sonia; Giuliani, Marco. - In: SUSTAINABILITY ACCOUNTING, MANAGEMENT AND POLICY JOURNAL. - ISSN 2040-8021. - ELETTRONICO. - 16:7(2025), pp. 218-250. [10.1108/SAMPJ-08-2023-0615]
Abstract:
Purpose: This paper explores the dialogue between companies and shareholders regarding Sustainable Development Goals (SDGs) during annual general meetings (AGMs). The aim is to understand the interaction between sustainability reports and the dynamics that unfold during company AGMs. Design/methodo...logy/approach: Inductive content analysis was used to scrutinise the AGMs and sustainability reports (SR) of 32 Italian listed companies; the SDGs and their associated targets were used as a coding framework. Theoretical perspectives from legitimacy theory and agency theory were adopted. Findings: The findings highlight a notable level of shareholder interest in SDG-related matters. Corporate reporting and specifically sustainability reporting, as well as governance practices including AGMs, provide platforms for dialogue to address SDG concerns. However, the study revealed that few companies were effectively using SR and AGMs to engage in meaningful dialogue with their shareholders about the SDGs. The approach to SDGs was rather superficial in most cases. Practical implications: The paper provides actionable insights for companies about how to integrate shareholder concerns into their activities and reporting practices. Social implications: Enhancing the transparency of corporate sustainability efforts and addressing stakeholder concerns may enable businesses to build trust and drive collective action toward achieving the SDGs. Originality/value: This research makes an original contribution through its qualitative approach to exploring in depth the dialogue between companies and shareholders about SDG issues.
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Annual general meeting (AGM) in the digital era: Where do Italian companies stand?
Anno: 2024
Rivista: MANAGEMENT CONTROL
Autori/autrici: Vitali, Sonia; Guidi, Michele; Giuliani, Marco
Lingua: ENG
Classificazione IRIS: 1.1 Articolo in rivista
Scheda completa IRIS: https://iris.univpm.it/handle/11566/337552
Citazioni:
Annual general meeting (AGM) in the digital era: Where do Italian companies stand? / Vitali, Sonia; Guidi, Michele; Giuliani, Marco. - In: MANAGEMENT CONTROL. - ISSN 2239-0391. - 2024/2 Suppl.(2024), pp. 149-171. [10.3280/MACO2024-002-S1008]
Abstract:
Digital transformation has emerged as a crucial driver for businesses to thrive in the dynamic contemporary landscape. This process has accelerated due to the widespread impact of the COVID-19 pandemic, compelling companies to also reshape their corporate governance structures and mechanisms, includ...ing the format of annual general meetings (AGMs). In light of these developments, this study aims to explore how can technological, organizational, and environmental factors influence the adoption and implementation of virtual AGMs among companies through the theoretical lens of the technology-organization-environment (TOE) framework. To achieve this, the study adopts a qualitative approach to address the underlying factors of shareholder meetings’ digital transformation in Italy. Specifically, the research conducts an inductive content analysis on AGM minutes of Italian companies listed on the FTSE-MIB held in 2019, 2020, 2021, and 2022. The evidence indicates that virtual AGMs among Italian listed companies are not widespread. During the COVID-19 pandemic, Italian firms avoided conducting virtual AGMs due to technological, organisational, and environmental factors, and the majority have no immediate plans for online meetings. Consequently, the pandemic has not driven AGM innovation in the Italian context. This evidence contributes to the literature on virtual shareholder meetings and offers insights for future research into companies’ perspectives on this theme.
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Emerging digital technologies and auditing firms: Opportunities and challenges
Anno: 2024
Rivista: INTERNATIONAL JOURNAL OF ACCOUNTING INFORMATION SYSTEMS
Autori/autrici: Vitali, Sonia; Giuliani, Marco
Lingua: ENG
Classificazione IRIS: 1.1 Articolo in rivista
Scheda completa IRIS: https://iris.univpm.it/handle/11566/327691
Citazioni:
Emerging digital technologies and auditing firms: Opportunities and challenges / Vitali, Sonia; Giuliani, Marco. - In: INTERNATIONAL JOURNAL OF ACCOUNTING INFORMATION SYSTEMS. - ISSN 1467-0895. - ELETTRONICO. - 53:(2024). [10.1016/j.accinf.2024.100676]
Abstract:
This article aims to analyse the impacts of new technologies, namely robotic process automation (RPA) and artificial intelligence (AI), on auditing firms. In particular, we focus on the companies’ everyday activities, organisational structure, hiring practices, and the competitive gap between ...Big4 and non-Big4 auditing firms. To this end, the article is based on a field study involving 14 auditing companies, both Big4 and non-Big4, from the list provided by Consob. The results reveal auditors’ differing perceptions and opinions regarding the future of auditing firms. According to the first viewpoint, new technologies will have a positive impact on auditors as they will be allowed to focus on value-added activities. Second, some respondents do not expect changes to the traditional structure of the companies due to the application of digital tools, while other auditors hypothesised two different scenarios regarding structural changes. Third, the interviewees contend that auditors of the future should gain IT and data analytics skills, which could affect the hiring practices of these companies. Fourth, regarding the current differences between large and smaller firms, some participants stated that emerging technologies could widen that gap, while some auditors of non-Big4 firms claimed that modern tools offer an opportunity for the smaller companies to slightly reduce the gap. In sum, the findings reveal that, although RPA and AI are not widely used and the impact of these technologies on auditing firms is controversial, multiple changes are on the horizon in this regard.
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Understanding the interplay between sustainability strategy and the approach to sustainability reporting in SMEs
Anno: 2024
Rivista: JOURNAL OF MANAGEMENT & ORGANIZATION
Autori/autrici: Guidi, Michele; Vitali, Sonia; Giuliani, Marco; Chiucchi, Maria Serena
Lingua: ENG
Classificazione IRIS: 1.1 Articolo in rivista
Scheda completa IRIS: https://iris.univpm.it/handle/11566/326012
Citazioni:
Understanding the interplay between sustainability strategy and the approach to sustainability reporting in SMEs / Guidi, Michele; Vitali, Sonia; Giuliani, Marco; Chiucchi, Maria Serena. - In: JOURNAL OF MANAGEMENT & ORGANIZATION. - ISSN 1833-3672. - ELETTRONICO. - (2024), pp. -20. [10.1017/jmo.2023.65]
Abstract:
The study aims to understand the interplay between sustainability strategy and the approach to sustainability reporting in small- and medium-sized enterprises (SMEs). To achieve this purpose, a case study is developed, examining four companies that exemplify different sustainability strategy types d...elineated by Baumgartner: introverted, extroverted, conservative, and visionary. According to the findings of the research, while it is possible to identify sustainability strategies based on the key defining elements of the adopted conceptual map, and to interpret the company’s perception and approach to sustainability reporting considering the sustainability strategy, integrating owner-manager values, stakeholder proximity, and supply chain dynamics the conceptual map becomes a more adaptable and practical tool for SMEs seeking to thrive in an increasingly sustainability-focused business landscape. The incorporation of these insights extends Baumgartner’s work, enhancing the comprehension of sustainability strategies within SMEs and providing implications for regulatory bodies, consultants, and managers.
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L'azienda sostenibile
Anno: 2022
Autori/autrici: Giuliani, Marco; D'Andrea, Alessia; Vitali, Sonia
Lingua: ITA
Classificazione IRIS: 2.1 Contributo in volume (Capitolo o Saggio)
Scheda completa IRIS: https://iris.univpm.it/handle/11566/310227
Citazioni:
L'azienda sostenibile / Giuliani, Marco; D'Andrea, Alessia; Vitali, Sonia. - STAMPA. - (2022), pp. 17-36.