Journal title RIVISTA TRIMESTRALE DI SCIENZA DELL’AMMINISTRAZIONE
Author/s Giovanni Barbara
Publishing Year 2013 Issue 2013/3 Language Italian
Pages 22 P. 5-26 File size 466 KB
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This paper analsyses the information flows within boards of directors. The Italian company law reform of 2003 entrusted directors with the exclusive management of joint-stock companies and identified their specific duties in terms of corporate information, to ensure that there is a real exchange of information guaranteeing optimal management. In the first part, we note the existence of asymmetries in the information exchanged between the CEO and the governing body, the powers of information available to directors, and the role of chairman of the board of directors as a guarantor of the principle of "acting on an informed basis". In the second part, we investigate the "right amount" of shared information that allows each director to carry out his duties, as well as the timing of the information provided or exchanged. Finally, we conclude that it is somehow "necessary" to have such asymmetry, so that the chairman of the board of directors can perform his function properly.
Keywords: Corporate governance, information flows, board of directors
Giovanni Barbara, I flussi informativi endoconsiliari nelle società per azioni in "RIVISTA TRIMESTRALE DI SCIENZA DELL’AMMINISTRAZIONE" 3/2013, pp 5-26, DOI: 10.3280/SA2013-003001