Mauro Paoloni’s research while affiliated with Roma Tre University and other places

This research examines the phenomenon of interlocking directorates within Italy’s corporate governance landscape, particularly in terms of gender inclusion. Interlocking directorates occur when individuals serve on multiple boards of directors (BoD) simultaneously, a practice increasingly scrutinized under national regulations like gender quotas and the revised New Corporate Governance Code. The study aims to assess the impact of these directorates on corporate governance, with a specific focus on gender inclusion. Utilizing a robust quantitative methodology, the research analyzes data from 100 Italian listed companies, comprised of 40 from the FTSE MIB and 60 from the FTSE MID CAP. Data from the companies’ 2022 official reports and websites provide detailed insights into BoD compositions, including variables such as gender, age, and personal background. Descriptive statistics, Z-tests, and chi-square tests are used to explore the prevalence of interlocking directorates and their correlation with gender disparities. The results indicate a widespread, though statistically insignificant, presence of interlocking directorates, with a notable over-representation of female directors. This suggests potential gender-specific dynamics within Italy’s corporate governance, which could either imply that interlocking directorates are facilitating increased female representation on BoDs or highlight the limited breakthrough of women through the corporate “glass ceiling.” The significance of this study lies in its contribution to the global discussion on gender equality in corporate governance. By investigating a relatively unexplored issue, this research not only enhances academic understanding but also has practical implications for policymakers and corporate leaders aiming to promote gender inclusivity in governance practices. The findings underscore the importance of exploring complex mechanisms like interlocking directorates to advance gender equity within the broader framework of corporate governance.

In recent years, there has been a growing emphasis on addressing gender disparities in economic sectors, spearheaded by initiatives from the United Nations and various national governments. Particularly in the wake of recent economic and pandemic crises, it has become increasingly urgent to scrutinize the gender gap in credit access, a sector experiencing a rapid surge in non-performing loans (NPLs). This study seeks to critically evaluate if gender serves as a criterion in the assessment of NPLs portfolios, utilizing an inductive content and document analysis approach. A careful analysis was conducted on 47 documents including official publications and reports from European and national institutions, major servicers, and leading consultancy services in the sector. Despite the existing initiatives aiming to bridge the gender gap in credit access, the current analysis reveals a stark oversight in the integration of gender as a significant parameter in the management of NPLs. Instead, classifications in the documents predominantly focus on other factors such as geographical location, business sector, or the availability of guarantees. Marking the onset of a larger empirical investigation, this research aims to spark a nuanced debate regarding the potential significance of gender in the management of NPLs. The study uncovers a significant gap in the existing discourse, where gender, despite being a critical consideration in credit allocation, is overlooked in the realm of NPL management. It advocates for a shift towards a more inclusive approach that duly considers gender as a pivotal factor, fostering a pathway to more equitable financial systems in the future.

The participation of citizens (especially women) in the budgeting process could be crucial in promoting gender equality enhancing the female role in society (Steccolini. Public Money and Management 39(5):379–383, 2019; Pastore and Tommaso. Gender-responsive budgeting processes in the Italian regional and local governments, in Paoloni, Lombardi (Eds), Gender studies, entrepreneurship and human capital, Springer, Cham, 2020). People’s engagement in the budgeting process could privilege equality in accessing different capabilities, focusing on the needs and expectations rather than merely analysing how the resources have been allocated (Gunluk-Senesen. Public Money & Management 41(7):554–560, 2021; Rubin and Bartle. Public Administration, 2021), as in standard gender budgeting (Klatzer et al. Developments in practice: Methodologies and approaches to gender budgeting, in O’Hagan and Klatzer (Eds), Gender Budgeting in Europe, Palgrave Macmillan, Cham, 109–133, 2018). Furthermore, the inclusion of digital tools could enable women’s engagement in gender budgeting, as in the participatory budgeting experiences (Stortone and De Cindio. Hybrid participatory budgeting: Local democratic practices in the digital era, in Foth, Brynskov, and Ojala (Eds), Citizen’s right to the digital city, Springer, Berlin, 177–197, 2015; Sampaio and Peixoto. Electronic participatory budgeting: false dilemmas and true complexities, in Gastil and Knobloch (Eds), Hope for democracy, 413–426, 2014). Therefore, the present research investigates the integration of a participatory perspective in gender budgeting, highlighting the relevance of digital technologies in enhancing citizens’, specifically women’s, engagement (Stortone and De Cindio. Hybrid participatory budgeting: Local democratic practices in the digital era, in Foth, Brynskov, and Ojala (Eds), Citizen’s right to the digital city, Springer, Berlin, 177–197, 2015).This study is ascribable to a conceptual paper in that it led to the development of a new model, building on theories and concepts identified and tested through empirical research (Jaakkola. AMS Review 10(1):18–26, 2020). Therefore, reviewing the existing literature about participatory budgeting (Papadopoulos and Warin. European Journal of Political Research 46(4): 445–472, 2007; Sintomer et al. Dialog Global 25:1–93, 2013; Bartocci et al. International Journal of Public Sector Management 32(1):65–79, 2019), gender budgeting (Klatzer et al. Developments in practice: Methodologies and approaches to gender budgeting, in O’Hagan, Klatzer (Eds), Gender Budgeting in Europe, Palgrave Macmillan, Cham, 109–133, 2018; Gunluk-Senesen. Public Money & Management 41(7):554–560, 2021) and digital tools’ effect on citizens’ engagement (Stortone and De Cindio. Hybrid participatory budgeting: Local democratic practices in the digital era, in Foth, Brynskov, and Ojala (Eds), Citizen’s right to the digital city, Springer, Berlin, 177–197, 2015; Sampaio and Peixoto. Electronic participatory budgeting: false dilemmas and true complexities, in Gastil and Knobloch (Eds), Hope for democracy, 413–426, 2014), a new “participatory” gender budgeting framework is created.The peculiarity of this research lies in its comprehensive approach in studying gender budgeting and its “participatory” view, in line with the paradigm of public management called New Public Governance (Osborne. Public Management Review 8(3):377–387, 2006), which calls for greater involvement of citizens. This is pursued through digital tools that can enhance the government’s capability to intercept citizens’ needs and perceptions (Grossi et al. Meditari Accountancy Research 29(7):75–93, 2021).The most significant contribution consists of developing a comprehensive model that integrates gender budgeting, usually a posteriori, with citizens’ participation and engagement, typical of participatory budgeting. The nexus between gender budgeting and participatory budget has been already analysed in the past (Ng. Gender-responsive and participatory budgeting: Imperatives for equitable public expenditure. Springer, Cham, 2016). However, no work seems to integrate these processes with digitalisation, suggesting some practical measures, such as introducing a platform for collecting citizens’ proposals.KeywordsGender equalityParticipatory governanceGender-responsive budgetingWomen’s empowerment

Purpose This work aims to investigate the current financial structure of Italian agri-food micro, small and medium enterprises (MSMEs) to understand how MSMEs face innovation challenges, which are also required to support sustainable development. Design/methodology/approach To reach the goal, an empirical longitudinal analysis is performed on a sample of Italian agri-food firms. In detail, to highlight the changes in the use of financial sources between 2013 and 2019, a descriptive ratio analysis is carried out on the data extracted by the AIDA database. In addition, statistical analyses were performed, including t -tests and U Mann–Whitney. Finally, a fixed-effects model is created to analyse the panel data. To ensure homogeneity, the sub-sectors of production and transformation are separately considered. Findings The financial structure analysis shows an increase in the equity percentage in the funding sources, attributable to an attempt to compensate for the reduction of banks' funding. However, even though this change has not compromised firms' profitability, the undercapitalisation of companies is still present. Therefore, more equity investments are required to support the innovation process. Originality/value The value of the present research is to highlight the choice of using new alternative financing sources instead of traditional banks' credit to implement sustainable and innovative development Italian agri-food sector (AFS). This choice is forced by reducing finance from banks and other financial institutions because of the credit crunch. This issue is even more relevant, considering that MSMEs have structural financial problems but have to fulfil the mission of pursuing innovation in the same way as large companies. Therefore, this paper expands the literature on agri-food, delving into an issue typical of MSMEs and combining agri-food with the need for innovation.

Purpose This paper aims to analyse the roles of relational capital (RC) and knowledge management (KM) during the COVID-19 in Italian public and private hospitals, considering that intangible elements are essential during periods of uncertainty. Design/methodology/approach Authors used a qualitative design in a case study on two Italian hospitals that have different ownership structures, which are located in the epicentre of the pandemic in Lombardy. The study was carried out using the CAOS (“caratteristiche personali”, “ambiente”, “organizzazione” and “start-up”) model (Paoloni, 2021), which allows for comprehending and commenting on RC because of the connections between typical factors that influence an organisation. The model also allows for discussion of the use of a network and how it supports organisations. Findings Findings of the analysis showed that during the management of the COVID-19 health emergency, ownership structure was not a discriminating factor, the created relationships were similar and they were considered in the same way. The relationships were mainly formal (except for contributions by associations or individuals) and temporary. The RC's reactive role in overcoming crises was confirmed, and the findings indicated that this result was possible also, thanks to the KM's role played within the organisation. Originality/value Theoretical implications of the work are that it contributes to the sparse healthcare literature on intellectual capital (IC) and on RC and its relationships with KM. The practical implications are related to the creation of new relationships during the healthcare emergency between hospitals and the central government, which can be considered a useful lesson for the future. The theoretical implications derived from the analysis are generalisable to all organisations regardless of their type and location, as well as the practical implications are applicable to the entire national territory.

Relational capital (RC) is of utmost importance in all organisations, especially in female-run companies where the role of relationships could contribute to the success of the businesses, due to the female entrepreneurs’ ability to establish and adequately manage them. Another peculiarity of businesswomen is that they are more likely to implement disruptive changes, but to do so, they still need support to realise it effectively.An analysis of the existing literature reveals that no studies have focused on how RC may support innovation in a female-run enterprise. Therefore, the present study attempts to explore what relationships could enable the innovation process. To do so, a female-run Italian firm is examined in a particular and crucial moment of its life—its shift from traditional to organic agriculture. The analysis is performed using the CAOS (C—Caratteristiche personali, A—Ambiente, O—Organizzazione and S—start-up) model (Paoloni, 2021, The C.A.O.S. model. Giappichelli), which allows comprehending and commenting on RC, based on the connection of the typical factors that influence a particular time period. In the present work, it is the moment when the radical change is made.KeywordsFemale enterprisesRelational capitalInnovation

The Italian banking system has changed profoundly and nowadays banks have to adapt their strategies to attain an adequate level of profitability (Mattei, 2019). Digitalization and mergers and acquisitions (M&A) are useful to obtain this result. However, at the same time, they can have a negative impact on the relationship between the bank and the territory, compromising the local economic growth (Caporale, Di Colli, Di Salvo, & Lopez, 2016). The objective of this work is to understand if any strategies could be undertaken to maintain the territorial relationship even when M&A and digitalization have become necessary. The methodology used is an ethnographic exploratory single case study (Yin, 1984). The information collected using semi-structured interviews is interpreted through qualitative inductive content analysis (Elo & Kyngäs, 2008). The interviews suggest that even when M&A and digitalization have a negative impact on the relationship between bank and territory, these two processes, if well-managed, could both improve the bank‟s profitability and the contact with the local reality. Therefore, if a strategic management process is defined in advance, it is possible to maintain, or, even gain profitability.

Purpose The purpose of this paper is to analyze within the knowledge management (KM) stream the relationship between KM and intellectual capital (IC) and entrepreneurship (E). IC is a pivotal intangible resource to firms to generate knowledge. Knowledge and information are strategic for today’s company life. IC is generated and dynamically recombined by knowledge, produces knowledge and is feed by knowledge itself, both codified and tacit. For those reasons, the paper is motivated to understand how IC can represent valuable knowledge and how it can turn into innovation, through KM and practices. It is also voted to stimulate literature on understanding how innovation can serve E capabilities for firms’ business models, as innovation is not necessarily linked to a technological breakthrough. IC is functional to KM practices, as entrepreneurs can use IC and knowledge as a strategic management toolbox to innovate. Design/methodology/approach The main aim of the paper is to understand the state of the art on these central issues in KM literature. The paper uses a structure literature review (SLR) methodology, gathering papers by Scopus database for the period 2000–2019, on the relationship between KM and IC and E. The second aim is to understand for future research how do managers use IC as an opportunity to innovate and as a vehicle to transfer knowledge. The authors wondered about the qualification/quantification of “knowledge” as a crucial component of IC, which is in turn the riskier, but the more representative, a component of intangibles assets in the era of knowledge. Findings As for the first research question, the findings show that, actually, as the research has been started, IC, KM and E are still engaged separately by scholars, even if few efforts to match them together have been performed. The results depict a general fragmented and unsystematic vision of the relationship between the three topics. As for the future of the research about these topics, the authors found that scholars should catch the opportunity to go beyond the traditional theoretical mainstream on these issues. There is an urge to move the focus of KM and IC research toward new models of their interconnection, by including the social capital, namely, knowledge capabilities (explicit or not), etc., which are able to turn knowledge in innovation and competitive advantage, from an accounting perspective (recognizing IC’s components affecting the performance of firms, among which knowledge is the most important) and from a theoretical point of view (reducing the misalignment between the epistemological concept of KM requirements and the effective perception of organizational KM activities to extract value from KM initiatives). Research limitations/implications The results, even if suffering from some limitations due to the performing of the methodology, offers several implications for academic research. The future of KM of the IC resources is clearly likely to lie on the recognition of the component of knowledge, as well as on the recognizing of new forms of social capital such as entrepreneurial capital, which is connected to innovation and creativity and firm value. An integrative framework of IC measurement should be built to link IC with KM and E. This is to guarantee that the measurement of IC does contribute to the efficiency and effectiveness of KM. Practical implications Practical contribution to accounting perspective. In fact, the relations between these three topics could be highly beneficial to validate, in the dynamic societies and organizations, how it is important the entrepreneur’s learning process and its content is fundamental in the quest for new business opportunities/innovations, stated that learning is a crucial factor for entrepreneurial activity and has a structural impact on business models of industrial organizations. The difficulty to recognize in the balance sheet human capital relation could be limited by the introduction of the component of KM practices codification and E attitude and influence to operate this transformation of human capital in organized structural capital. The authors would not give the solution to that problem. The authors just want to address the discussion. Social implications The inspiring conclusion from previous studies is to think in a new way at the role of knowledge-based IC in organizational E. Starting from the assertion that knowledge-based process of innovation and E are linked, it can be tested, also from case studies help or empirical application that organizations with a pleasant level of IC are more likely to be more innovative and in conclusion, have a higher market value. Originality/value The main contribution of this paper is to afford for the first time, to the best knowledge, an SLR on the interaction in literature among KM, IC and E, simultaneously, to understand where literature research actually is focusing and to lead future thoughts, at a managerial level, toward the interacting implications of KM and IC on value creation by innovation, which is one stream E literature. Although recently scholars have been concerning more empirically about the relationship between KM, IC and E, they are more focused on theoretical aspects than about new ways to look at IC. The future of KM and IC research is clearly likely to lie on the recognition of the component of knowledge, as well as recognizing new forms of social capital such as entrepreneurial capital, which is connected to innovation and creativity. An integrative framework of IC measurement through KM should be built to link IC measurement with KM. This is to guarantee that measurement of IC does contribute to the efficiency and effectiveness of KM practices.

By analyzing the literature regarding the peculiarities of the Corporate Governance (CG) structure and their impact on the companies’ performance, it is possible to understand that the characteristics of the CG, especially of the Board of Directors (BoDs), strongly affect companies. Particularly, it is renowned that the diversity of members, as well as their identity, can influence the obtainable results. Among all different kinds of diversity, the gender element was chosen in the present work, because although it has been studied by several scholars, its relationship with the companies’ performance still remains partially unexplored.

Purpose The purpose of this paper is to create a strong connection among the gender diversity literature in the stream of gender quotas in the international context and the main legislation on gender diversity – the Law 120/2011 “Golfo-Mosca” – in Italy requiring listed companies and companies under the public control to implement policies for increasing board diversity. Design/methodology/approach This paper adopts a structured literature review method to propose relevant issues on this topic applying an innovative analytical framework based on the “article focus.” Additionally, an interview to a CEO of an Italian Bank has been done. Findings In this step, results seem to underline the prominence of literature analyzing “woman in board of directors” promoting board diversity in the light of good governance. Additionally, this analysis is functional to the proposition of interesting insights from the Golfo-Mosca Law’s analysis in Italy emphasizing primary effects of its application during past seven years. Originality/value Findings of this paper are original, as it is the first time that a research connects results from the structured literature review on gender issues and the related Italian law to draft emerging and thrilling issues in the light of transparent and responsible corporate governance system.