The importance of intellectual capital in the non-profit sector generates the need to measure its role in the value creation process. The purpose of the paper is to study the application of intellectual capital within the non-profit sector, by turning attention to resources such as: knowledge, experience, and skills. Organizations, which are able to increase the knowledge of their staff and transform this knowledge into skills to improve services, can easily meet users’ needs and, thereby, become competitive. This contribution proposes to study how people’s knowledge can contribute to increasing social value, which is the non–profit organization’s aim. Furthermore, the goal is to demonstrate how collaboration between staff and volunteers is essential to professional services. Finally, the research proposes a conceptual framework in which intellectual capital helps in defining the strategic issues, which non–profit organizations must tackle in order to achieve their social programs.
It is necessary to distinguish the internal controls from external ones: the former are the responsibility of the appropriate bodies and business functions belonging to the organization of the companies, while the latter are exercised by subjects who fall outside the company and the functional structure of the company (audit company, Consob, Bank of Italy, etc.). In recent decades there have been several scandals that have hit large enterprises, also Italian ones, which have increased interest in the issue of corporate governance and in the inefficiencies presented in internal corporation controls (Munroa & Stewart 2011). Enhancing the effectiveness of controls, in particular the internal ones, has become a need increasingly felt by international and national legislators. Internal controls are an essential tool to achieve business goals (operating constantly in terms of efficiency and effectiveness), and at the same time to avoid wastage of resources, to safeguard corporate assets, producing accounting information and reliable management, to observe the strategies, the policies and the corporate procedures and, especially, to ensure compliance with laws and regulations. in this work, it will discuss, in the italian context, the role of the board of directors and the board of statutory auditors within the (SCIGR) System of Internal Control and Risk Management (Jaggi, Allini, Manes Rossi, & Caldarelli, 2016). Moreover, the study moves the analysis to other corporate figures well determined and in constant evolution, including the head of internal audit, the activity of compliance, the supervisory body ex D.Lgs.231/2001 and the manager in charge of drafting corporate accounting documents.Keywords: corporate governance, auditing, compliance, risk The System of Internal Control and Risk Management: The Literature ReviewThe organizational structures of a company, of which the adequacy must be taken care of, evaluated and controlled by the organization bodies, are certainly part of the internal control system, understood as the set of directives, procedures and operational practices defined and adopted by the company to reach, through a proper process of identification, measurement, management and monitoring of the main risks, strategic, operational objectives, of reporting and of compliance. (Bertoli & Perotta, 2013). The internal controls in capital companies is one of the fundamental pillars of the structure of corporate governance in the legal systems of advanced industrial countries (Montalenti, 2015). The first models of integrated control were conceived in the American market in the early nineties, with the development of the COSO framework, which had the aim to support the companies in the evaluation and improvement of the system of internal controls. This model was subsequently updated in 2004 by a second framework in the field of Enterprise Risk Management, the so-called COSO Report II, which inserts the internal control system in the context of the more general process of risk management. Subsequentl...
PurposeThere are several studies on various aspects of the disclosure of companies but there is little research on elements related to the disclosure of innovation in particular. The work aims to fill this important gap by examining to what extent the companies listed on the Italian Stock Exchange, which prepare the sustainability report (non-financial declaration – NFS), disseminate information relating to innovative activities.Design/methodology/approachThe methodology used to achieve the research goal has used multiple linear regression models (OLS), to study the factors that influence disclosure. The data were collected through the content analysis. The sample is made up of 171 companies listed on the Italian stock exchange which prepared a sustainability report for the period of four years 2016–2019 (Sustainability Reports and Integrated Documentation) and which contain information on innovative activity.FindingsThe research confirms a positive relationship between information on innovation and the economic variables of corporate investment. In addition, an important relationship emerges linked to the disclosure of innovative information and the business sector, innovation investments and R&D activity.Research limitations/implicationsThe work suffers from some limitations: the short period of observation subject to analysis, the lack of sustainability report 2020, the extension of the variables taken into consideration for the implementation of the regression models; it is desirable to consider a wider pool of variables in the future in order to implement further specific tests.Practical implicationsOn a practical level, the research suggests the adoption of a framework on the dissemination of innovative activity that allows easy reading of information (regardless of the sector and company size), built starting from the most representative keywords of the activities innovative, to be included in a specific section of the Sustainability Report. This work contributes to filling a cognitive gap connected to the disclosure of the innovative activity. There is much research on disclosure related to business activities, but no specific research regarding the communication of innovation.Originality/valueThe study conducted contributes to fill a gap in the literature related to the disclosure of the innovative activity. The latter is a strategic element for effective and clear communication with stakeholders.
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