Template-type: ReDIF-Article 1.0 Author-Name: Lino Cinquini Author-Name: Silvana Revellino Author-Name: Maria Serena Chiucchi Title: La prospettiva della performativit? e gli strumenti di misurazione e gestione della performance Abstract: The contents of this issue of Management Control allow us to reflect on the per-formative nature of the calculation, quantification and qualification tools that govern the measurement and management of performance within organizations and society. Performance measurement and management tools, also called ?de-vices?, are made up of a set of signs, or symbols, consisting not only of numbers, calculations and algorithms but also from graphic representations, images and nar-ratives. Attributing a ?performative? nature to this set of signs means recognizing that these signs, rather than representing reality, provoke and create it (Muniesa, 2014). Such signs can be ascribed to the category of objects, but objects are never inanimate entities, but rather ?actants? (Akrich, 1990; Akrich and Latour, 1992; Latour, 1987; Callon, 1999), i.e. able to suggest and inspire entire courses of ac-tion, promote the opening up of new scenarios and stimulating the imagination of new horizons. The collection of articles in this issue certainly offers an opportunity to encourage dialogue and integration between the different approaches and areas of research on performance measurement and management. For example, quali-tative and quantitative works could support each other; experimental works could integrate with surveys, intra-organizational research could inform inter-organizational research, and vice versa. Classification-JEL: Keywords: Note: Pages:5-24 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74619&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74619 Template-type: ReDIF-Article 1.0 Author-Name: Mariastella Messina Author-Name: Antonio Leotta Title: Management control package in the portfolio project selection process. Empirical evidence from semiconductor industry Abstract: Studies on New Product Development (NPD) have emphasized the active, dynam-ic, and supportive role of Management Control Systems (MCS). However, limited research has explored how the various MCS can be specifically applied in the port-folio selection process and how these tools can be combined to influence project portfolio success in line with business strategy. In doing so, a complementarity be-tween the different MCS needs to be considered for the different problems that the various MCS are able to solve, and how MCS are used depends on the business strategy followed by the organization. From this perspective, in their use, MCS should be examined as a package to understand how the complementarity of var-ious controls and their ability to align NPD projects with business strategy may im-pact the project selection process in the portfolio context. This study aims to address the following research question: what roles MCS can play in the selection of NPD projects portfolio, considering different strategic con-texts? To answer this research question, we conducted an interpretative and quali-tative case study within a multinational company operating in the semiconductor industry, referred to as ?Semicom.? We employed a combination of data sources, including documentary analysis, direct observation, participation in meetings, and semi-structured interviews, to analyze the phenomenon under investigation. The results demonstrate that MCS can offer valuable insights for project manag-ers and division managers in the organization to make informed decisions regard-ing the project portfolio, and to align such decisions with the strategic objectives of the organization. Classification-JEL: Keywords: Note: Pages:25-42 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74620&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74620 Template-type: ReDIF-Article 1.0 Author-Name: Guido Noto Author-Name: Carmelo Marisca Author-Name: Gustavo Barresi Title: I "pacchetti" di controllo manageriale nei team virtuali Abstract: Studies on the management of virtual teams emerged in the international literature debate since the last decade of XX century. The Covid-19 pandemic turn the spot-light on this topic since many organizations had to transform their face-to-face teams into virtual ones through the adoption of remote working modes ? at least during lockdown restriction periods. Previous literature on virtual teams has devot-ed scant attention to management control issues. This research aims to fill this gap by exploring how management control ?packages? changed ? and are still chang-ing ? to cope with virtual teams. To do that, this work undertakes a cross-sectional field study based on semi-structured interviews with 27 managers of different companies. As a result, it emerges that the control of virtual teams requires the adoption ? or strengthening ? of mechanisms to compensate for the reduced availability of cultural controls. Classification-JEL: Keywords: Note: Pages:43-62 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74621&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74621 Template-type: ReDIF-Article 1.0 Author-Name: Filippo Zanin Author-Name: Giulio Corazza Title: Value-based Management System e performance. Il ruolo di moderazione della strategia ibrida e della turbolenza ambientale Abstract: This paper contributes to the Value-based Management (VBM) literature by providing empirical evidence on the performance effects that arise from the adop-tion of value-based management systems. Through the analysis of two contingen-cy factors ? strategy, measured by the firm?s hybrid strategic positioning, and envi-ronment, analyzed by the degree of environmental uncertainty ? the present study tries to explain if and how the adoption of VBMS impacts on firm performance. Focusing on 367 non-financial firms indexed in the MSCI Europe index during the period 2013-2018, the paper represents the first effort to investigate the role of the firm?s strategic positioning and environmental turbulence in affecting the relation-ship between VBM systems and firm performance. In particular, the study highlights how VBM can become a powerful tool for man-aging the need of flexibility that arise from internal and external contextual fac-tors, thus enhancing firm performance. Classification-JEL: Keywords: Note: Pages:63-87 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74622&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74622 Template-type: ReDIF-Article 1.0 Author-Name: Fabio De Matteis Author-Name: Alessandra Tafuro Author-Name: Fabrizio Striani Author-Name: Daniela Preite Title: Totally Publicly-Owned (TPO) Utilities and Financial Performance: What is the role of some aspects of governance? Abstract: Public services impact on the citizens? lives, especially in the case they are deliv-ered by totally publicly-owned (TPO) utilities, that are funded by public money. This highlights the relevance of performance management in totally publicly-owned utilities from which derives the research aim that is to investigate elements that can influence their financial performance, with a specific attention on gov-ernance. We focus on a sample of all the utilities (116) wholly owned by the Ital-ian capitals of the provinces for the years 2008-2017 (n. 1,350 observations). Ap-plying the Generalized Least Square (GLS) method, the analysis results allow us to conclude that: the female presence and political orientation of the Board of Direc-tor do not impact on the totally publicly-owned utilities? performance, while size variables differently impact. Political implications (potential disconnection be-tween ownership strategies and Board of Director choices; possibility of a joint management of public services by more municipalities expanding corporate governance) and managerial implications (recruitment strategy, management control system supporting corporate governance) are highlighted. The limit of the work is also identified in the conclusion. Classification-JEL: Keywords: Note: Pages:89-111 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74623&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74623 Template-type: ReDIF-Article 1.0 Author-Name: Lorenzo Leto Author-Name: Diletta Vito Title: Il contributo dei sistemi di RM e PM alla sostenibilit? integrata: il caso B&C Speakers Abstract: Classification-JEL: Keywords: Integrated sustainability, Risk management, Performance Measure-ment Systems, Explorative case study Note: Pages:113-139 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74624&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74624 Template-type: ReDIF-Article 1.0 Author-Name: Francesco Avallone Author-Name: Costanza Di Fabio Author-Name: Shekerta Aliu Author-Name: Elisa Roncagliolo Title: Shedding light on the preconditions for circular economy: Evidence from SMEs in the agri-food sector Abstract: Despite the EU's commitment to promoting the transition towards the circular economy (CE), implementation continues to face significant constraints within small firms, which represent 99% of all EU businesses. This study deals with the implementation of CE in SMEs to understand their perceptions of CE and assess the firm-level features obstructing transition. We present evidence from 58 inter-views with 37 Italian agri-food firms. Evidence suggests a dichotomy between larger SMEs, which implement CE to pursue economic advantages, and smaller ones. Overall, a lack of a strategic approach to CE emerges, as well as several ob-stacles to circular transition (e.g., lack of technical expertise, effective networks and practical guidance). Our findings suggest the importance of (i) disseminating accounting and measurement tools among SMEs, (ii) working to create circular networks, and (iii) developing tailor-made guidance. Classification-JEL: Keywords: Note: Pages:141-163 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74625&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003007 Number: 7 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74625 Template-type: ReDIF-Article 1.0 Author-Name: Simona Alfiero Author-Name: Laura Broccardo Author-Name: Massimo Cane Title: Sustainable Business Model and the Firm Age Variable Impact: Evidence from wine industry Abstract: Sustainability is attracting increasing attention, especially in small and medium-sized companies and the agribusiness industry, because of the need to address ris-ing social and environmental issues. Consequently, the present study explores a sample of small and medium-sized companies operating in the wine sector, with particular attention to the key variables of their sustainable business model and its process design. Age is a variable that is rarely studied in the academic literature, but it is notable. Herein lies the originality of this research, which resides in the lens used to examine the business models of organisations. This study shows the rele-vance of this underexplored variable and its impact on sustainable business mod-els, shedding light on the sustainability implementation of young and old firms. Classification-JEL: Keywords: Note: Pages:165-191 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74626&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003008 Number: 8 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74626 Template-type: ReDIF-Article 1.0 Author-Name: Giulia Cattafi Author-Name: Giovanna Mariani Author-Name: Francesco Pistolesi Author-Name: Domenico Nicol? Title: Cheating in the evaluation. An expedient to estimate the impact of intangibles on the enterprise value of the high-growth start-ups Abstract: This study investigates the effect of investments in intangible fixed assets and human capital on the Enterprise Value (EV) of Italian high-growth startups (HGSs). To test our hypotheses, we conducted several Ordinary Least Squares (OLS) regression analyses on a dataset comprising 782 HGSs. The EV was esti-mates using the Discounted Cash Flow (DCF) method. Our findings reveal a posi-tive and statistically significant relationship between investments in intangible as-sets and EV. However, investments in human capital and highly skilled workers show a negatively relationship with EV. Lastly, a positive and statistically signifi-cant relationship between value-added per employees and the EV of HGSs has been identified. This study offers valuable insight into the process through which new firms gener-ate value. By strategically investing in intangible assets and human capital, startups not only enhance their probability of survival but also improve their growth potential. This allows these companies to overcome the challenges of the early stage and embark on a sustainable growth process. To spotlight the unique value drivers of these companies, unlike prior studies, we manually estimate the EV. We have employed the DCF method by playing the cards face up: we used the actual cash flows realized by the HGSs during the study period instead of rely-ing on forecasts. We have therefore ?cheated? to measure the value created by the HGSs. This research can be considered a pioneering study that significantly con-tributes to the ongoing debate on the value creation process in fast growing startups. Classification-JEL: Keywords: Note: Pages:193-218 Volume: 2023/3 Year: 2023 Issue:3 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=74627&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:MACOMA:v:html10.3280/MACO2023-003009 Number: 9 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=74627