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...

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...