In a new article, we aim to identify the elements and stages that have led to increased attention to corporate social responsibility issues, especially with regard to environmental, social, and governance factors, and to focus on the meaning of each element of the ESG acronym. Moving from a theoretical to an empirical study, we also analyze the 2017 non-financial disclosure reports (released in 2018) of all European listed companies and examine the resulting 1194 companies that, according to Thomson Reuters Business Classification data, are mainly from the financial industry (296, or 24.79 percent) and the consumer goods and industrial sectors … Read more
Given the need to strengthen protection for minority shareholders, Italy has moved towards a more efficient corporate governance system by introducing mandatory list voting for listed corporations. List voting in Italy requires the election of at least one director and one statutory auditor supported by minority shareholders, and at least two of each such minority-supported candidates if a company has more than seven directors. The greater minority representation on the board that this mechanism ensures is especially useful when a company’s shareholder base is concentrated.
The Italian system highlights the importance of board independence and allows shareholders to play a … Read more