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La corporate governance delle banche italiane: e' tutto oro quello che luccica? (Corporate governance of Italian banks: not all that glitters is gold)

Author

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  • Daniela Venanzi

    (Universita' degli Studi Roma Tre)

Abstract

Per l'Agenda 2030 delle Nazioni Unite sullo sviluppo sostenibile (2015) l'adozione delle best practices di corporate governance (CG) e' un fattore chiave di comportamenti sostenibili delle imprese al fine di accrescere ricchezza e resilienza dei sistemi economici mondiali. In aggiunta, l'approccio ESG (environmental, social, governance) sta assumendo crescente importanza nella gestione delle imprese italiane. E tuttavia, l'adesione ai principi del Codice di CG da parte delle imprese italiane quotate sembra essere piu' formale che effettivo in varie aree, generando comportamenti di box-ticking e box-checking ai principi del Codice (quelli piu' facilmente applicabili e verificabili), rispettivamente da parte di operatori e di supervisori. Questo studio contribuisce a evidenziare il gap tra compliance effettiva vs formale su un campione di societa' finanziarie italiane quotate, considerate "campioni" nella CG. The 2030 Agenda for Sustainable Development by United Nations (2015) considers the adoption of the best practices of corporate governance (CG) a key-driver for a sustainable behaviour of companies to improve wealth and resilience of economic systems worldwide. In addition, ESG (environmental, social, governance) approach has been becoming important in Italian firms' management. However, the compliance to the CG Code by the Italian listed companies seems to be more formal rather than substantial/effective in some areas, producing a sort of box-ticking and box-checking behaviours to the Code requirements (those more easily applicable/verifiable), respectively by operators and supervisory institutions. This study contributes to highlight the gap between effective and formal compliance to CG Code in a sample of Italian listed financial companies considered "CG champions".

Suggested Citation

  • Daniela Venanzi, 2023. "La corporate governance delle banche italiane: e' tutto oro quello che luccica? (Corporate governance of Italian banks: not all that glitters is gold)," Moneta e Credito, Economia civile, vol. 76(302), pages 113-132.
    • Handle: RePEc:psl:moneta:2023:21
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    References listed on IDEAS

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    More about this item

    Keywords

    corporate governance; Italian financial firms; independence of board members; formal vs effective compliance; quality of disclosure;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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