Corporate governance of Italian banks: not all that glitters is gold
DOI:
https://doi.org/10.13133/2037-3651/17965Keywords:
corporate governance, Italian financial firms, independence of board members, formal vs effective complianceAbstract
The 2030 Agenda for Sustainable Development by United Nations (2015) considers the adoption of the best practices of corporate governance (CG) a key-driver for a sustainable behaviour of companies to improve wealth and resilience of economic systems worldwide. In addition, ESG (environmental, social, governance) approach has been becoming important in Italian firms’ management. However, the compliance to the CG Code by the Italian listed companies seems to be more formal rather than substantial/effective in some areas, producing a sort of box-ticking and box-checking behaviours to the Code requirements (those more easily applicable/verifiable), respectively by operators and supervisory institutions. This study contributes to highlight the gap between effective and formal compliance to CG Code in a sample of Italian listed financial companies considered “CG champions”.
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