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Simona Franzoni
Univeristy of Brescia

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Correction
Published: 28 November 2019 in Annals of Operations Research
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ACS Style

Simona Franzoni; Cristian Pelizzari. Correction to: Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas. Annals of Operations Research 2019, 1 -1.

AMA Style

Simona Franzoni, Cristian Pelizzari. Correction to: Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas. Annals of Operations Research. 2019; ():1-1.

Chicago/Turabian Style

Simona Franzoni; Cristian Pelizzari. 2019. "Correction to: Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas." Annals of Operations Research , no. : 1-1.

Journal article
Published: 13 November 2019 in Annals of Operations Research
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This work introduces and empirically tests an option contract designed to manage rainfall risk of hospitality firms. It contributes to the literature on weather derivatives in tourism. We deal with a rainfall option designed to compensate for the lack of revenues caused by too much rain, which could have a negative impact on the hospitality industry business performances in the medium/long run. We concentrate on the typical question of pricing a rainfall option. We introduce a new model with the aim of improving the formulation of the price by considering the highly non-linear relationships between rain and business performances in a multidimensional framework. Such a model results from the integration of three essential elements: scenario correlation, copulas, and Monte Carlo techniques. The model is complemented by an experiment that focuses on Lake Garda, Italy, one of the most important tourist destinations in the summer period for international and Italian visitors. We consider the quantities of rainfall of Lake Garda in the years 2005–2014 and the business performances of 18 hotels operating there during the same period. Based on these data, we obtain multidimensional data. Then, the price of an option contract designed to hedge the decrease in revenues due to rainfall is assessed based on the refined and linked multidimensional data. Finally, an optimal number of contracts to be bought is suggested based on the minimization of the Earnings Before Interests and Taxes variability.

ACS Style

Simona Franzoni; Cristian Pelizzari. Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas. Annals of Operations Research 2019, 299, 939 -962.

AMA Style

Simona Franzoni, Cristian Pelizzari. Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas. Annals of Operations Research. 2019; 299 (1-2):939-962.

Chicago/Turabian Style

Simona Franzoni; Cristian Pelizzari. 2019. "Rainfall option impact on profits of the hospitality industry through scenario correlation and copulas." Annals of Operations Research 299, no. 1-2: 939-962.

Journal article
Published: 18 March 2019 in International Journal of Contemporary Hospitality Management
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Purpose The variability of weather at tourist destinations can significantly affect travel decisions by tourists and their comfort. In particular, rain affects the profitability of hospitality firms that can hardly contrast the phenomenon of heavy rain. Therefore, the assessment of rainfall financial risks, i.e. the negative economic effects caused by rain, becomes crucial to safeguarding the profitability of the hospitality industry. The purpose of this study is to assess such risks. Design/methodology/approach The present work contributes to the literature on weather/climate change and tourism by advancing a model for the rainfall financial risk assessment of hospitality firms. The model is based on scenario correlation between business performances and rain and originates from the Enterprise Risk Management (ERM) presented by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), where some tools to adequately face business risks are advanced. Findings The model is complemented by an empirical experiment based on the business performances of the hospitality industry of Lake Garda and the amount of rainfall in the same area during the decade 2005-2014. The empirical application detects scenario correlation between those variables over time. In particular, the findings open opportunities to purchase financial instruments (insurance contracts, derivative instruments, etc.) with greater awareness, with the purpose of mitigating the negative impacts of rain on business performances of hospitality firms. Originality/value The model improves scenario analysis by introducing scenario correlation, which is a tool for assessing the highly nonlinear links between business performances and rain in today’s complex world. This is the essential step that firms should perform if they want to successfully adopt strategic decisions about rainfall financial risk management.

ACS Style

Simona Franzoni; Cristian Pelizzari. Rainfall financial risk assessment in the hospitality industry. International Journal of Contemporary Hospitality Management 2019, 31, 1104 -1121.

AMA Style

Simona Franzoni, Cristian Pelizzari. Rainfall financial risk assessment in the hospitality industry. International Journal of Contemporary Hospitality Management. 2019; 31 (3):1104-1121.

Chicago/Turabian Style

Simona Franzoni; Cristian Pelizzari. 2019. "Rainfall financial risk assessment in the hospitality industry." International Journal of Contemporary Hospitality Management 31, no. 3: 1104-1121.

Research article
Published: 23 January 2019 in Journal of Hospitality & Tourism Research
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Weather is a fundamental resource for tourism, but adverse meteorological events (such as persistent rain) need to be considered by hospitality firms because of the increasing economic damages they cause. The study adds to the weather derivative and tourism literature by advancing a model for the rainfall risk management of hospitality firms. It aims to show, in two steps, how hospitality firms could share the risks caused by rain with counterparties by adopting a rainfall derivative to mitigate the negative impacts of rain on profitability. In particular, the first step of the proposed model is based on scenario correlation between business performances and rain. The second step introduces rainfall derivatives and analyzes their impact on the earnings before interest and taxes of hospitality firms. The model is supported by a numerical application covering the decade 2005 to 2014 and based on the business performances of 25 hotels located on Lake Garda, Italy and on the amount of rainfall on that lake.

ACS Style

Simona Franzoni; Cristian Pelizzari. Hedging Risk with Derivatives in the Rain-Sensitive Hospitality Industry. Journal of Hospitality & Tourism Research 2019, 43, 544 -572.

AMA Style

Simona Franzoni, Cristian Pelizzari. Hedging Risk with Derivatives in the Rain-Sensitive Hospitality Industry. Journal of Hospitality & Tourism Research. 2019; 43 (4):544-572.

Chicago/Turabian Style

Simona Franzoni; Cristian Pelizzari. 2019. "Hedging Risk with Derivatives in the Rain-Sensitive Hospitality Industry." Journal of Hospitality & Tourism Research 43, no. 4: 544-572.

Journal article
Published: 18 January 2019 in Sustainability
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This paper aims at providing a methodology for analyzing and measuring the experiences offered by a large territory by investigating online conversation on the “things to do” or in other words the experiences by TripAdvisor platform. Opinions and comments are able to influence the choice of the tourist destination and to raise specific expectations, in order to find corrective measures to be taken to preserve or enhance the interest of a tourist destination. By applying the methodology advanced, Destination Management Organization (DMO) can collect useful information in order to make decisions and take action to protect and/or increase the competitiveness of the destination. The empirical observation, thought the methodology described herein, was applied in the Province of Brescia, Italy, a large territory marked by the presence of different destinations and experiences and Bresciatourism—Visit Brescia, the DMO of this territory, was involved.

ACS Style

Simona Franzoni; Michelle Bonera. How DMO Can Measure the Experiences of a Large Territory. Sustainability 2019, 11, 492 .

AMA Style

Simona Franzoni, Michelle Bonera. How DMO Can Measure the Experiences of a Large Territory. Sustainability. 2019; 11 (2):492.

Chicago/Turabian Style

Simona Franzoni; Michelle Bonera. 2019. "How DMO Can Measure the Experiences of a Large Territory." Sustainability 11, no. 2: 492.

Journal article
Published: 01 January 2019 in Symphonya. Emerging Issues in Management
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The rise of stakeholder engagement and corporate social responsibility emphasizes the necessary integration of the economic, social and environmental aspects of business management. This is not only reflected by decisions, and behaviours, but also by the tools and methods of communicating business results. It has become apparent that there is a need for all relevant stakeholders to be provided with consistent and comprehensive information about how corporate social responsibility and sustainable performance are being achieved. The paper aims to show the tools used by major international hotel chains for sustainability reporting; an analysis on the quality and quantity of content provided in such reports by tourism enterprises, in order to make appropriate judgments about communications and the potential for improvement.

ACS Style

Simona Franzoni; Marie Avellino. Sustainability Reporting in International Hotel Chains. Symphonya. Emerging Issues in Management 2019, 96 -107.

AMA Style

Simona Franzoni, Marie Avellino. Sustainability Reporting in International Hotel Chains. Symphonya. Emerging Issues in Management. 2019; (1):96-107.

Chicago/Turabian Style

Simona Franzoni; Marie Avellino. 2019. "Sustainability Reporting in International Hotel Chains." Symphonya. Emerging Issues in Management , no. 1: 96-107.

Article
Published: 28 February 2018 in Sustainability
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Islamic Finance, among its other features, figures as a financial and economic model based on principles and ethical values in which sustainable development and social responsibility play an essential role. The aim of this study is to illustrate the concept of Corporate Social Responsibility (CSR) with specific reference to Islamic financial institutions, their principles, values and objectives, in order to understand the underpinning dynamics and identify the convergences between the principles underlying conventional CSR and those of Islamic Finance. Specifically, the ultimate purpose of the comparison is to highlight how CSR may constitute a significant factor of convergence between Islamic and conventional finance systems, going beyond the logic of sustainability in short-term marketing policy and implementing medium- and long-term sustainability. This approach aims at increasing the potential for value creation and the pursuit of economic, social and environmental results for all stakeholders. This convergence should, finally, create conditions favourable to the harmonisation of the regulations and directives relative to CSR in the different countries, and therefore a better integration between Islamic finance institutions and conventional ones in the economic contexts.

ACS Style

Simona Franzoni; Asma Ait Allali. Principles of Islamic Finance and Principles of Corporate Social Responsibility: What Convergence? Sustainability 2018, 10, 637 .

AMA Style

Simona Franzoni, Asma Ait Allali. Principles of Islamic Finance and Principles of Corporate Social Responsibility: What Convergence? Sustainability. 2018; 10 (3):637.

Chicago/Turabian Style

Simona Franzoni; Asma Ait Allali. 2018. "Principles of Islamic Finance and Principles of Corporate Social Responsibility: What Convergence?" Sustainability 10, no. 3: 637.

Journal article
Published: 01 January 2018 in International Journal of Business Performance Management
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The aim of this paper is to encourage a debate about the effective adoption of a sustainability approach by companies' boards, being a substantial factor of convergence between insider and outsider corporate governance systems. Corporate social responsibility (CSR) and sustainability are based on good corporate governance, grounded on stakeholder engagement, fairness, transparency and accountability. All these principles are related to sustainable boards and determine a governance approach directed to the growth of corporate value in the long-term. Leadership aiming at sustainability requires CSR to be transferred from top management to the entire organisation, spreading a real culture of sustainability into organisation. In this sense, the CSR, if properly realised, can be considered as a factor of substantial convergence between the different systems of corporate governance existing worldwide.

ACS Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari; Raffaella Cassano. Convergence in corporate governance systems and sustainability culture. International Journal of Business Performance Management 2018, 19, 7 .

AMA Style

Daniela M. Salvioni, Simona Franzoni, Francesca Gennari, Raffaella Cassano. Convergence in corporate governance systems and sustainability culture. International Journal of Business Performance Management. 2018; 19 (1):7.

Chicago/Turabian Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari; Raffaella Cassano. 2018. "Convergence in corporate governance systems and sustainability culture." International Journal of Business Performance Management 19, no. 1: 7.

Chapter
Published: 09 August 2017 in Ethics and Sustainability in Accounting and Finance, Volume II
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For a long time, the corporate governance decisions and the connected disclosure activities were often direct to the satisfaction of shareholders’ expectations, sometimes with significant differences related to the characteristics of the stock markets and the composition of the corporate ownership. In the listed companies, this management orientation tended to generate divergences between insider and outsider corporate governance systems. The emergence of the concepts of corporate social responsibility (CSR) and Stakeholder Relations Management involves modifications in the corporate governance approach, according with the philosophy of sustainable development as critical element for long-term success in global markets. This chapter aims to make some considerations when the CSR adoption and disclosure as element characterizing corporate culture represent a factor of convergence between insider and outsider corporate governance systems.

ACS Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari. Social Responsibility as a Factor of Convergence in Corporate Governance. Ethics and Sustainability in Accounting and Finance, Volume II 2017, 29 -53.

AMA Style

Daniela M. Salvioni, Simona Franzoni, Francesca Gennari. Social Responsibility as a Factor of Convergence in Corporate Governance. Ethics and Sustainability in Accounting and Finance, Volume II. 2017; ():29-53.

Chicago/Turabian Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari. 2017. "Social Responsibility as a Factor of Convergence in Corporate Governance." Ethics and Sustainability in Accounting and Finance, Volume II , no. : 29-53.

Journal article
Published: 30 May 2017 in Sustainability
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In view of the increasing importance attributed to social responsibility and stakeholder relationship management, more universities have expanded their research topics and their educational programs through the years. High attention is dedicated to the dominant principles and values of internal and external relations, to the innovation processes designed to ensure an approach to sustainable development. However, less attention is dedicated to the sustainability governance orientation and to the development of a strong institutional culture of sustainability, which is a key success factor to improve the quality and the image. This article observes the sustainability governance orientation, through the analysis of the information on the websites of three fair groups of universities in the international Top 500-ARWU (Academic Ranking of World Universities) 2015 ranking. The aim is to verify if there is a link between the degree of sustainability culture in the management and the positioning of the universities in the international ranking. In addition, the analysis is compared with self-assessment data carried out by the same universities in terms of performance sustainability through the STARS (Sustainability Tracking, Assessment & Rating System) online platform. As principal consideration, we have noted that the best universities in the ranking have a management approach based on a shared vision of sustainability development of their university leaders, who play an essential role affirming and disseminating a sustainability culture. All this opens broader future implications intended to highlight the importance of management sustainability as a quality improvement factor of universities.

ACS Style

Daniela M. Salvioni; Simona Franzoni; Raffaella Cassano. Sustainability in the Higher Education System: An Opportunity to Improve Quality and Image. Sustainability 2017, 9, 914 .

AMA Style

Daniela M. Salvioni, Simona Franzoni, Raffaella Cassano. Sustainability in the Higher Education System: An Opportunity to Improve Quality and Image. Sustainability. 2017; 9 (6):914.

Chicago/Turabian Style

Daniela M. Salvioni; Simona Franzoni; Raffaella Cassano. 2017. "Sustainability in the Higher Education System: An Opportunity to Improve Quality and Image." Sustainability 9, no. 6: 914.

Journal article
Published: 07 October 2016 in Corporate Ownership and Control
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In an era of increasing capital mobility and globalisation, the growing integration of financial markets seems to be a key factor of corporate governance convergence. One of the most striking differences between corporate governance systems of different countries is the dissimilarity in the firms’ ownership and control that exists across countries. According to the degree of ownership and control, corporate governance systems can be distinguished in outsider systems (characterised by wide dispersed ownership) and insider systems (characterised by concentrated ownership). The transition from a governance approach founded on the shareholder view and oriented to the optimization of economic performance to a policy founded on the stakeholder view and oriented to the appreciation of the interdependence among economic, social and environmental responsibility, seems to be a factor of de facto convergence between outsider and insider systems of corporate governance. The main finding of this chapter is that the effective integration of CSR, sustainability and leadership makes easier the convergence between insider and outsider corporate governance systems. Leadership starts at board level. Corporate social responsibility (CSR) and sustainability require good corporate governance, grounded on stakeholder engagement, fairness, transparency and accountability. All these principles are related with more externally focused boards and determine a governance approach directed to the growth of sustainable value. In light of the above, this chapter will consider how the social responsibility and the role of the leaders (CEOs, Board of Directors, managers, etc.) can determine a governance approach directed to the growth of sustainable value over time. This is possible through the exploitation of opportunities and the economic and social risk management with which the companies should compete. The achievement of sustainability leadership requires significant changes in the operational guidelines and critical factors for company’s success and it imposes the improvement of the internal control systems intended to provide essential support for responsible governance. Therefore, leadership aiming at sustainability (regardless of the corporate governance system) requires CSR to be transferred from top management to the entire organisation, increasing the ability to manage complexity with respect to articulated goals. So, the corporate social responsibility, if properly realized, tends to be a factor of substantial convergence between the different existing systems of corporate governance.

ACS Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari. Corporate governance systems and sustainability: CSR as a factor of convergence between outsider and insider systems. Corporate Ownership and Control 2016, 14, 139 -150.

AMA Style

Daniela M. Salvioni, Simona Franzoni, Francesca Gennari. Corporate governance systems and sustainability: CSR as a factor of convergence between outsider and insider systems. Corporate Ownership and Control. 2016; 14 (1):139-150.

Chicago/Turabian Style

Daniela M. Salvioni; Simona Franzoni; Francesca Gennari. 2016. "Corporate governance systems and sustainability: CSR as a factor of convergence between outsider and insider systems." Corporate Ownership and Control 14, no. 1: 139-150.

Journal article
Published: 01 January 2016 in Symphonya. Emerging Issues in Management
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Globalisation, climate change, the global economic crisis, and the increasing political instability have multiplied the risk factors in the tourism industry. Climate change, in particular the variability of weather, hevily affects decision-making in the tourism industry. Indeed, tourism can be considered a highly weather-sensitive economic sector, but, at the same time, the tourism industry has a key role to play in dealing with the challenges of climate change. For their own survival, tourism firms should adopt actions aimed at promoting a risk reduction through urgent measures designed to combat climate change (reduction of energy consumption, switching to renewable energy sources, etc.). On the other hand, they should enable complementary interventions to share weather risks: from “accessory services”, such as tasting events, sport activities, wellness centers, which promote tourism attractiveness safeguarding territory sustainability, to rainfall derivatives, which are designed to protect tourism firms from excessive rainfall.

ACS Style

Simona Franzoni; Cristian Pelizzari. Weather Risk Management in Tourism Industry. Symphonya. Emerging Issues in Management 2016, 45 -55.

AMA Style

Simona Franzoni, Cristian Pelizzari. Weather Risk Management in Tourism Industry. Symphonya. Emerging Issues in Management. 2016; (1):45-55.

Chicago/Turabian Style

Simona Franzoni; Cristian Pelizzari. 2016. "Weather Risk Management in Tourism Industry." Symphonya. Emerging Issues in Management , no. 1: 45-55.

Journal article
Published: 01 January 2016 in Symphonya. Emerging Issues in Management
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Tourism and other related industries are an inseparable part of globalization in the world economy. Global markets have encouraged the removal of many trade barriers while fostering the free movement of people and know-how across borders that have benefitted the tourism industry.Globalisation, hard competition and market-driven management are the fundamental characteristics of today’s tourism business and the need to co-build global connectivity for innovation is crucial to the survival of tourism enterprises and all parties involved in the development of global tourism.

ACS Style

Silvio M. Brondoni; Simona Franzoni. Ouverture de ‘Market-Driven Management in Global Tourism’. Symphonya. Emerging Issues in Management 2016, 1 -6.

AMA Style

Silvio M. Brondoni, Simona Franzoni. Ouverture de ‘Market-Driven Management in Global Tourism’. Symphonya. Emerging Issues in Management. 2016; (2):1-6.

Chicago/Turabian Style

Silvio M. Brondoni; Simona Franzoni. 2016. "Ouverture de ‘Market-Driven Management in Global Tourism’." Symphonya. Emerging Issues in Management , no. 2: 1-6.

Conference paper
Published: 11 December 2015 in Third International Conference on Advances in Management, Economics and Social Science - MES 2015
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ACS Style

Daniela M; Francesca Gennari; Simona Franzoni. Corporate governance convergence and sustainability. Third International Conference on Advances in Management, Economics and Social Science - MES 2015 2015, 67 -70.

AMA Style

Daniela M, Francesca Gennari, Simona Franzoni. Corporate governance convergence and sustainability. Third International Conference on Advances in Management, Economics and Social Science - MES 2015. 2015; ():67-70.

Chicago/Turabian Style

Daniela M; Francesca Gennari; Simona Franzoni. 2015. "Corporate governance convergence and sustainability." Third International Conference on Advances in Management, Economics and Social Science - MES 2015 , no. : 67-70.

Journal article
Published: 01 October 2015 in Tourism Management Perspectives
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Tomeasure tourism sustainability requires a knowledge of the complexity of tourism systems and the specifics of\ud any given location. However most research, although focusing on social, economic or environmental indicators\ud but have not considered how they integrate and relate to each other. This paper proposes a framework for the\ud identification of variables based on three levels (the community, the tourist destination and the individual organisations)\ud and different dimensions (social, competitive and economic) that are better oriented to the behaviour\ud of key actors and the achievement of stakeholder consensus

ACS Style

Simona Franzoni. Measuring the sustainability performance of the tourism sector. Tourism Management Perspectives 2015, 16, 22 -27.

AMA Style

Simona Franzoni. Measuring the sustainability performance of the tourism sector. Tourism Management Perspectives. 2015; 16 ():22-27.

Chicago/Turabian Style

Simona Franzoni. 2015. "Measuring the sustainability performance of the tourism sector." Tourism Management Perspectives 16, no. : 22-27.

Journal article
Published: 01 January 2015 in Corporate Ownership and Control
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The claim that gender equality in the composition of corporate governance bodies is a driving factor for the economic growth and competiveness of enterprises has been the subject of discussion in the international scientific literature. The emphasis on the inclination towards social responsibility has effectively encouraged the main international institutions to promote equal opportunities for men and women. The Italian legislator intervened in 2011 by encouraging a pathway for including women within the top management bodies of companies. In this perspective, the legislation becomes not only a tool to ensure gender representation in corporate governance bodies in listed companies and companies under public control, but one to initiate a change which, if left to its own natural rhythms, would risk taking an unacceptable amount of time to implement. After a brief overview of the Italian legislative context applicable to listed companies and companies under public control, the aim of this study was to investigate whether the seventeen listed Italian companies and the seventy unlisted Public Utilities have conformed to the legislation on gender equality in the composition of their Boards of Directors or whether they have undertaken voluntary initiatives entailing the adoption of effectively shared “gender” values.

ACS Style

Simona Franzoni. Gender representation in the boards of directors of Italian public utilities. Corporate Ownership and Control 2015, 13, 1304 -1308.

AMA Style

Simona Franzoni. Gender representation in the boards of directors of Italian public utilities. Corporate Ownership and Control. 2015; 13 (1):1304-1308.

Chicago/Turabian Style

Simona Franzoni. 2015. "Gender representation in the boards of directors of Italian public utilities." Corporate Ownership and Control 13, no. 1: 1304-1308.

Journal article
Published: 01 January 2013 in Corporate Ownership and Control
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The ability to assert the ethical and entrepreneurial values in a strong and shared manner, on the level of corporate governance and organisation, is therefore a critical element for the purpose of obtaining consensus and the optimisation of enterprise performance. For these reason, monitoring the corporate culture through the identification of indicators enables us to measure the processes of change underway in an organisation and may enable us to prevent the persistence of bad management. The introduction of a model to measure corporate culture has therefore become necessary, both in terms of defining and representing the intangible asset, with a view to controlling management to ensure the effective orientation of behaviour, to achieve the enterprise purposes and stakeholders’ consensus.

ACS Style

Simona Franzoni. Measuring corporate culture. Corporate Ownership and Control 2013, 10, 308 -316.

AMA Style

Simona Franzoni. Measuring corporate culture. Corporate Ownership and Control. 2013; 10 (4):308-316.

Chicago/Turabian Style

Simona Franzoni. 2013. "Measuring corporate culture." Corporate Ownership and Control 10, no. 4: 308-316.

Journal article
Published: 01 January 2009 in Corporate Board: Role, Duties and Composition
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This research is aimed at assessing whether rules and recommendations adopted in European Countries (France; Germany; Italy; Spain; United Kingdom) and non-European Countries (Canada; Japan; Russia; United States) enable companies to have a regulatory framework as a guarantee of information completeness, so that anyone can, on the one hand, assess if the company is transparency-oriented and, on the other, to facilitate the comparison of remuneration systems with other companies in other European contexts or non-European Countries. Finally, this paper aims to examine how the listed companies, operating in the public utilities sector, have implemented remuneration systems disclosure in the corporate behaviour in order to assess if, European and non-European listed companies surveyed behave in conformity with transparency provisions and assure stakeholders, information completeness.

ACS Style

Simona Franzoni. International comparison of the remuneration system disclosure. Corporate Board: Role, Duties and Composition 2009, 5, 16 -22.

AMA Style

Simona Franzoni. International comparison of the remuneration system disclosure. Corporate Board: Role, Duties and Composition. 2009; 5 (2):16-22.

Chicago/Turabian Style

Simona Franzoni. 2009. "International comparison of the remuneration system disclosure." Corporate Board: Role, Duties and Composition 5, no. 2: 16-22.

Journal article
Published: 01 January 2009 in Corporate Ownership and Control
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This paper aims to examine disclosure about listed companies’ executive remuneration, investigating particularly the rules and recommendations adopted in industrialized countries (European countries: France; German; Italy; Spain; United Kingdom; and non-European countries: Canada; Japan; Russia; United States) and to verify if effective communication behaviours adopted in Italy and in foreign countries by listed public utility companies match cognitive and evaluation stakeholders’ expectations and rules and existing specific recommendations. Disclosure of the remuneration is necessary to offer each stakeholder to understand if the amount of compensation paid and its composition is adequate to avoid potential excesses that could compromise the process of value generation by the enterprise. This is an important topic, considering also potential conflicts between form, structure and level of executive directors’ remuneration (fixed and variable elements, stock options, total estimated value of non-cash benefits, remuneration paid to directors in connection with the termination of his activities during that financial year, etc.) and corporate performance optimization in the long term.

ACS Style

Simona Franzoni. Disclosure of executive remuneration in listed public utility companies. Corporate Ownership and Control 2009, 6, 323 -332.

AMA Style

Simona Franzoni. Disclosure of executive remuneration in listed public utility companies. Corporate Ownership and Control. 2009; 6 (4):323-332.

Chicago/Turabian Style

Simona Franzoni. 2009. "Disclosure of executive remuneration in listed public utility companies." Corporate Ownership and Control 6, no. 4: 323-332.