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Struttura di governance e performance nelle aziende venete: un?analisi empirica

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  • Michele Fabrizi

Abstract

In questo studio vengono analizzate le conseguenze sulla performance aziendale della pratica di far ricoprire il ruolo di amministratore delegato e presidente del consiglio di amministrazione alla stessa persona (Ceo duality), di cui la letteratura ha evidenziato pregi e difetti: da un lato, la Ceo duality consente di mantenere una forte unit? di comando ed agevola il ruolo strategico del consiglio di amministrazione, mentre dall?altro, la separazione dei ruoli favorisce un pi? efficace monitoraggio da parte del consiglio di amministrazione. Utilizzando un campione di aziende venete e informazioni sulla loro struttura di governance, lo studio rileva una relazione positiva e significativa tra Ceo duality e performance aziendali, a conferma del ruolo strategico del consiglio di amministrazione. Tuttavia, successive analisi mostrano come l?effetto positivo della Ceo duality non sia presente nelle aziende di grandi dimensioni dove la necessit? di monitoraggio da parte del consiglio di amministrazione ? pi? marcata e la complessit? aziendale ? maggiore. Le analisi qui riportate evidenziano l?importanza della struttura di governance nell?influenzare la performance e sottolineano la necessit? di adattare la struttura di governance alle esigenze della singola azienda.

Suggested Citation

  • Michele Fabrizi, 2015. "Struttura di governance e performance nelle aziende venete: un?analisi empirica," ECONOMIA E SOCIET? REGIONALE, FrancoAngeli Editore, vol. 0(3), pages 122-142.
    • Handle: RePEc:fan:eseses:v:html10.3280/es2015-003008
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    References listed on IDEAS

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    More about this item

    Keywords

    Governance; performance aziendale; consiglio di amministrazione; amministratore delegato; Ceo duality; monitoraggio; teoria dell?agenzia; teoria della stewardship;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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