Template-type: ReDIF-Article 1.0 Author-Name: Luciano Marchi Title: Dalla crisi allo sviluppo sostenibile. Il ruolo dei sistemi di misurazione e controllo Abstract: This article offers some reflections and insights to interpret the economic impact of the current pandemic crisis, and similar crises that could arise in the future, and the conditions for recreating sustainable development. Firstly, to move from evaluating crisis to generating economic value and sustainability requires a new corporate governance approach for interacting with the social and environmental context, integrating risk management and performance man-agement (Marchi, 2019; Greco, D?Onza, 2020). Sustainability can be reinforced by adopting a new theory of value created for all stakeholders, included suppliers, customers, employees, the territory and the social community, but also for the en-vironment and for the company itself, ensuring adequate remunerations of the re-sources and conditions of lasting economic equilibrium of companies (Giannessi, 1960). To guarantee a long-term economic balance together with social, environmental and corporate sustainability, the role of measurement and control systems is fun-damental. In this regard, the following aspects can be highlighted (Marchi, Paolini, 2020): 1) integrated accounting and budgeting systems must be developed with an in-come perspective; 2) excessive emphasis on specific performance indicators, espe-cially financial ones, must be avoided, in order to pass to a "systemic reading" of the set of indicators at an economic-social level; 3) a circular choice and an ade-quate remuneration of the production factors in the supply network must be guar-anteed in order to increase the value created internally in the network, with the contribution of strategic suppliers who must be partners of the company; 4) finally, a "culture of sustainability" must be implemented in the personnel planning, control and incentive systems (integrating financial indicators with sustainability indicators) and not only in the reporting systems for the outside. Classification-JEL: Keywords: Note: Pages:5-16 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67097&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67097 Template-type: ReDIF-Article 1.0 Author-Name: Federica Ricci Author-Name: Vincenzo Scafarto Author-Name: Salvatore Ferri Author-Name: Teresa Riso Title: Management control systems in the knowledge economy: Assessing the role of intellectual capital in Abstract: The purpose of this paper is to show that intellectual capital (IC) efficiency as measured by the value added intellectual coefficient (VAIC) and its individual components may function as key performance indicators for use in management control and external reporting to capital market participants. We incorporate the VAIC within the Ohlson model (OM), a widely used model for equity valuation, which relates a firm?s market value to the book value of equity and net earnings, and allows to include any other information that may affect the market assess-ment of firm value. We then estimate the modified OM on a panel sample of firms continuously listed on the Italian Stock exchange from 2011 to 2017 using a fixed effect (FE) specification. Empirical results indicate that IC efficiency contributes along with the traditional accounting metrics included in the OM to explain the stock market performance of sample firms. This paper suggests that the VAIC and the individual measures of IC efficiency may usefully complement traditional accounting measures of performance. Classification-JEL: Keywords: Note: Pages:17-34 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67098&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67098 Template-type: ReDIF-Article 1.0 Author-Name: Velia Gabriella Cenciarelli Author-Name: Marco Maria Mattei Author-Name: Giulio Greco Title: Pressione competitiva e previsione dell?insolvenza Abstract: This paper investigates whether product market competition indicators can be used to enhance bankruptcy prediction models. Using a sample of Italian private firms in the period 2009-2014, we test if an increase in product market competi-tion (measured by product market fluidity) is associated to higher likelihood of fi-nancial default. The study also assesses whether prediction models using competi-tion measures have higher predictive ability, compared to those using standard in-dustry controls. The empirical findings show that the product market fluidity has a positive and significant association with the likelihood of bankruptcy. The findings also show that the prediction model augmented with fluidity is more accurate and exhibit lower levels of either Type I and Type II errors. Type I errors are of particular im-portance as they are related to the misclassification of default firms as healthy firms. This error is responsible of severe investment losses and banks? non-performing loans. This research can contribute to prior research on bankruptcy prediction, as it pro-vides evidence that prediction models can be improved by including firm-specific competitive pressure measures. Moreover, it can also contribute to governance and internal control studies. Monitoring competition can be critical for the internal control systems, as it could provide an early warning indicator of potential finan-cial distress. In this perspective, the study can contribute to the current debate on legislative reforms across the EU regarding the business insolvency and the early identification of financial default. Classification-JEL: Keywords: Note: Pages:35-58 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67099&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67099 Template-type: ReDIF-Article 1.0 Author-Name: Lino Cinquini Author-Name: Cristina Campanale Author-Name: Alessandro Marelli Author-Name: Sara Giovanna Mauro Author-Name: Andrea Tenucci Title: La misurazione di costi e performance nei La misurazione di costi e performance nei modelli di business orientati ai servizi: una ricerca esplorativa modelli di business orientati ai servizi: una ricerca esplorativa Abstract: The globalization of markets, an increased awareness of consumers, and the tech-nological innovation driven by the development of digital technologies have chal-lenged the traditional strategies of firms and paved the way to the development of innovative ones. In this context, the process of servitization in manufacturing firms has attracted growing attention over the last years both among practitioners and scholars. Nevertheless, it has remained unexplored the role that the measure-ment of costs and performance can play to support the servitization. Therefore, the paper aims at contributing to this debate by studying the possible links between servitization strategies, identified through a servitization strategy matrix, and cost and performance measurement systems. This research is based on a cross-sectional study of a set of large, medium and small-sized manufacturing firms in Italy. The analysis of our findings has shown that there is still a prevalence of traditional cost and performance measurement tools although there is evidence that a broader set of information can foster the decision-making and facilitate strategic decisions concerning servitization. Classification-JEL: Keywords: Note: Pages:59-85 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67100&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67100 Template-type: ReDIF-Article 1.0 Author-Name: Vania Palmieri Author-Name: Mario Turco Title: Crisi e cambiamento delle istituzioni di contabilit? pubblica. Il caso delle amministrazioni centrali dello Stato Abstract: The literature on public accounting and management traditionally payed consid-erable attention to the programming, planning and reporting of the use of economic and financial resources. However, the effects that exogenous shocks - such as the first big financial, economic and fiscal crisis of the 21st century - exert on public finance and accounting institutions need to be better explored. In an attempt to fill this gap, this piece of research focuses on the case of Italian central state ad-ministrations, adopting the historical institutionalists? theoretical framework about immediate and gradual institutional change. It relies on a documental analysis car-ried out on the main regulatory innovations introduced since the outbreak of the crisis to 2019, and on one author?s direct observation of the rules and systems placed at the centre of the study. What emerges is that, in the period of reference, the explored institutions considerably changed, and that their change only partially depended on the crisis. Specifically, the latter entered a process of gradual and in-cremental change that was already under way, triggering two main (European) reactions. The first one had the character of immediacy, while the other that of graduality. The evidence of the dynamism and non-static nature of the institutions of interest allows reflecting on relevant practical implications. Classification-JEL: Keywords: Note: Pages:87-112 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67101&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67101 Template-type: ReDIF-Article 1.0 Author-Name: Giovanni Coran Author-Name: Ugo Sostero Title: Il bilancio degli atenei: schemi di analisi Abstract: The adoption of accrual accounting by Italian universities opens a wealth of new financial information. However, these financial statements remain difficult to in-terpret, due to the specific management of universities, and the statutory choices in defining the reporting formats. This article suggests a better presentation format of the information reported in university financial statements. For each of the three statements - i.e., income statement, balance sheet and cash flow statement - the analysis involves: - describing the main features of the mandatory statement, in order to highlight its peculiarities, application and issues in interpretation; - identifying the most suitable format to reclassify the statements of universities, to extract consistent and relevant information on their conditions and perfor-mance. This could foster greater awareness of the financial statements of uni-versities among the governing bodies and external stakeholders of universities, as well as improving the tools used by scholars to analyse the university system. Classification-JEL: Keywords: Note: Pages:113-141 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67102&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67102 Template-type: ReDIF-Article 1.0 Author-Name: Cardillo Eleonora Author-Name: Rizza Carmela Author-Name: Ruggeri Daniela Title: La rilevanza pratica dei sistemi di misurazione delle performance negli Enti Locali: analisi di un caso Abstract: In the last decades, public organisations have been subject to several institutional changes, aimed at increasing their efficiency through the introduction of management control tools. The proliferation of management accounting tools planned for public companies has not always generated a corresponding diffusion of these tools in practice, widening the gap between theoretical models and practice. This gap is due to the divergence between meanings and roles assigned to performance measurement by theoretical models and practical dimensions. Focusing on the Local government context, this paper aims to understand the practical relevance of performance measurement systems in public organizations, verifying how these systems can affect the logics and behaviours of actors involved in the decision making process. The theoretical insights coming from literature review are used to interpret the practical relevance of performance measurement systems in a case study of a Local government placed in the South of Italy. The empirical evidence showed that the actors? interests and objectives can affect the Performance Plan contents and its implementation, activating interpretive processes that are not always consistent with the underlying logics to which the measurement should be inspired. The case study showed how the practical relevance of the performance Plans is greater for those projects in which there was a sharing of the measurement meanings by political and administrative actors, which affects the definition of the Performance Plan contents and its implementation. Classification-JEL: Keywords: Note: Pages:143-168 Volume: 2020/3 Year: 2020 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=67103&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2020-003007 Number: 7 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=67103