This paper analyses, in a critical perspective, the evolution in accounting for 'concession arrangements'. It is aimed to verify: 1) if the new regulatory framework is sufficiently clear to allow a transparent and coherent accounting of such operations; 2) which is its effect on public and...

In this study, we propose an original explanation, which is an alternative to “optimal contracting theory” and “rent extraction theory”, for the use of stock option plans (SOPs) in family firms. This explanation is based on a classification of the private benefits of control, which...

The study investigates the relation between family governance and firms transparency in the Italian context where family firms are very spread. The literature about the impact of family ownership on earnings quality (EQ) highlights a twofold effect. On the one hand, there is the view that family...

Evidence on accounting irregularities and frauds has shown how corporate governance systems in modern economies are far from preventing the risk of misleading financial information.This paper has the purpose to study the main features of some well-known italian and international accounting...

In the last years banks and firms relationship in Italy has experienced deep changes due to a new revised national and international regulation and to an increasing globalization of economic environment. These evolutions imply a new bank-firm relationship with a deeper disclosure, in a...

Agency costs, deriving from the separation between ownership and control, affect whatever company model. In case of firms with dispersed ownership (the public companies), the classic agency conflict regards the relation between shareholders and managers. In case of family firms the classic...

This paper analyzes the relationship between complexity in cost structure (Jennings et al., 2013) and stock price volatility concerning Italian Listed Companies to determine over the period of crisis whether firm complexity is associated with risk. Using data collected for 153 available Italian...