Corporate governance e creazione di valore nella prospettiva sistemico-vitale

This work combines the value creation and the behavioural approaches to the economic efficiency view, through which the corporate governance system should aim to optimise economic results, with a strong emphasis on stakeholders welfare which calls for more attention and accountability to players other than the shareholders (e.g.: employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large). After a description of corporate governance as including the relationships among the stakeholders and the goals for which the corporation is governed, it presents a framework of the set of processes, policies, laws and institutions affecting the way in which a firm is directed, administered or controlled. In conclusion, the intent of this study is not the proposal of new model of corporate governance, but a new research effort concerning a vectorial theory of value that focusing on the applications side can provide support to study the dynamics of firm behaviour, designing a value metrics and identifying value drivers. This methodology not only enables managers to understand the expertise required to create economic value, maximize stakeholders wealth, and adopt a value-based philosophy, but also gives executives and managers an understanding of the value drivers critical to their organization, enabling them to link corporate strategies to their own performance and compensation. The authors hopes that this vectorial approach can improve a development of measurement tools and techniques of firms value creation performance.

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