Papers by Paola Demartini
During the last decade China has become an important international investor and its firms have al... more During the last decade China has become an important international investor and its firms have also begun to invest in Europe targeting strategically important and high-tech industries. However, there are many Chinese firms that have learned some hard lessons from European acquisitions. Among the various factors that can hinder or facilitate the success of Chinese investments, we devote special attention to the role of cultural differences. Drawing from international literature on cross-border acquisitions and cross-cultural management, we assume that national culture influences corporate strategies and structures as well as managers’ behaviour. To understand fully differences and modes of interactions among headquarters and subsidiaries, we decided to analyse a single case study. A qualitative research method appeared more suitable for achieving these mentioned objectives. Findings highlight the significant role of cultural values. Differences arose in the headquarter’s strategic choices and management cultures of the headquarters and its subsidiaries. We observed some attempts to manage cultural differences, however, the Chinese investor did not really undergo a process of learning and adaptation to the local dimension. Sintesi Nell’ultimo decennio molte aziende cinesi hanno iniziato ad investire in Europa acquisendo aziende operanti in settori strategici ed ad alta intensita tecnologica. Tuttavia, tali acquisizioni non sempre hanno prodotto i risultati sperati. Tra i vari fattori che possono ostacolare il successo di un’operazione di acquisizione, particolare attenzione viene qui dedicata al ruolo delle differenze di cultura nazionale. L’analisi della letteratura internazionale suggerisce infatti che le differenze culturali possono influire sulle strategie aziendali, sulle strutture organizzative e sul comportamento dei manager. Allo scopo di migliorare la comprensione delle diversita che intercorrono tra filiali europee e capogruppo cinese, questo lavoro esamina approfonditamente un singolo caso studio aziendale. Dai risultati ottenuti emerge la presenza di alcune differenze che hanno il potere di ostacolare il raggiungimento degli obiettivi perseguiti, nonche la scarsa propensione da parte dell’investitore cinese ad adattarsi al contesto locale ed alle prassi manageriali italiani. Selena Aureli e Ricercatore in Economia Aziendale presso la Facolta di Economia dell’Universita degli Studi di Urbino “Carlo Bo” Paola Demartini e Professore associato in Economia Aziendale presso la Facolta di Economia dell’Universita degli Studi di Roma Tre. Universita degli Studi di Urbino “Carlo Bo”
In the book Performance. Control Systems. ‘Made in Italy’ two main issues are addressed: corpor... more In the book Performance. Control Systems. ‘Made in Italy’ two main issues are addressed: corporate performance and control systems. Three empirical studies analyse corporate governance and performance of companies listed on the Milan Stock Exchange. In all those studies, it is concluded that there are no strong statistical relations that correlate the analysed variables and corporate financial performance. The second strand of the book is on corporate governance and control systems. A first contribution analyses the state of the art of internal control systems in Italy and India. It is therefore presented a case study that shows how the Telecom Italy Group made the acquisition of a majority stake of the Telecom Argentina Group. The subject of the next chapter is the framework of the statutory audit in the context of the US and Italy. The book ends with the case study of a ‘Made in Italy’ business failure. It is the case of an Italian company that has achieved international success but that did not have those systems of management and control necessary for the maintenance of this success.
Franco Angeli eBooks, 2020
Questo studio riguarda un'azienda leader a livello internazionale nelle tecnologie elettronic... more Questo studio riguarda un'azienda leader a livello internazionale nelle tecnologie elettroniche e informatiche, che ha sviluppato un sistema di reporting del capitale intellettuale (IC) per gestire i progetti di sostenibilità e soddisfare i severi criteri richiesti per l'inclusione nel Dow Jones Sustainability Index (DJSI).
Nel volume Performance. Sistemi di controllo. 'Made in Italy' si approfondiscono due prin... more Nel volume Performance. Sistemi di controllo. 'Made in Italy' si approfondiscono due principali tematiche: le performance d'impresa e i sistemi di controllo. Si presentano tre indagini empiriche che analizzano lacorporate governance e le performance delle società quotate sulla Borsa Valori di Milano. In tutti e tre gli studi si conclude che non esistono relazioni statisticamente 'forti' che possano correlare le variabili prese in esame con le performance economico finanziarie. Il secondo filone del volume verte sul tema:governance e sistemi di controllo. Un primo contributo analizza lo stato dell'arte in tema di sistemi di controllo interno in Italia e in India. Si presenta, quindi, un caso studio in cui si mostrano i vantaggi e i costi che il Gruppo Telecom Italia ha sostenuto nel 2010 per realizzare l'operazione di acquisizione della partecipazione di maggioranza del Gruppo Telecom Argentina. Il tema oggetto del capitolo successivo è l'inquadramento...
Questo volume è strutturato in due parti nelle quali confluiscono contributi scritti da autori co... more Questo volume è strutturato in due parti nelle quali confluiscono contributi scritti da autori con un background differente e una diversa prospettiva disciplinare. I primi tre capitoli presentano l'esperienza trentennale dei workers' buyout in Italia, aziende in crisi o in fallimento che vengono acquistate dai lavoratori e si trasformano in imprese cooperative. A supporto, dati quantitativi sull'evoluzione complessiva del fenomeno con un focus sul caso studio Fenix Pharma. Nella seconda parte del volume si affrontano due tematiche che rientrano nell'ambito del filone di studi sulla Corporate Governance e i sistemi di controllo. La prima affronta il tema delle nuove norme in materia di remuneration policies alla luce dell'applicazione della 'Direttiva 2013/36/UE (c.d. CRD IV). La seconda tematica attiene al Management Control System for Occupational Health and Safety Risk, sistema deputato alla tutela della salute e della sicurezza dei lavoratori importante pe...
During the last decade China has become an important international investor and its firms have al... more During the last decade China has become an important international investor and its firms have also begun to invest in Europe targeting strategically important and high-tech industries. However, there are many Chinese firms that have learned some hard lessons from European acquisitions. Among the various factors that can hinder or facilitate the success of Chinese investments, we devote special attention to the role of cultural differences. Drawing from international literature on cross-border acquisitions and cross-cultural management, we assume that national culture influences corporate strategies and structures as well as managers’ behaviour. To understand fully differences and modes of interactions among headquarters and subsidiaries, we decided to analyse a single case study. A qualitative research method appeared more suitable for achieving these mentioned objectives. Findings highlight the significant role of cultural values. Differences arose in the headquarter’s strategic c...
Purpose – The study concerns a company operating in the field of Electronics and Defense, which h... more Purpose – The study concerns a company operating in the field of Electronics and Defense, which has developed a model of IC management coherent with a sustainability framework. This paper highlights the process leading to the preparation of an integrated reporting, based on the interconnected key content elements. Design/methodology/approach: The theoretical paradigm underlying our research is Interpretivism. In particular, this study is conducted in light of “action research” (Jo¨nsson-Lukka, 2006; Suomala, 2009; Dumay, 2010) perspective. Data have been gathered by in-depth interviews with managers and from group discussions. Findings– The framework elaborated by the research group was successfully applied to a set of specific initiatives to be implemented in the 2013 aiming to foster the sustainability management philosophy within the company. Every aforementioned project set up by the company is subject to measurement, valuation and reporting. This model aims to be an effective support to general management, providing a link between intangible assets and capabilities that create value within a sustainability framework. Originality/value –This case study puts in evidence that the communications that result from an integrated reporting will be of benefit to a range of stakeholders. Specifically, it was found that it can be useful to support management decisions and for providers of funds which allocate their capitals on an ethical basis
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Papers by Paola Demartini