Patrizio Monfardini

Seeking legitimacy: Social reporting in the healthcare sector

Abstract This study aims to contribute to the legitimacy theory by evaluating the legitimizing capacity of a social reporting practice performed by a healthcare trust. The study is based on an in-depth analysis of a significant case of social reporting by an healthcare trust, using a multi-method research approach.

The Case of HERA

In the raising complexity of the environment within which companies have to currently operate, the drawing up of integrated reporting seems to be one of the most challenging and demanding tasks for any company, which have to deal both with an increasing number of powerful stakeholders and provide its managers with increasingly complex and useful information. The present chapter analyses the approach and the experience of the HERA Group. We will outline the business features, its evolution since operations began and the similarities and differences of the HERA Sustainability Report with the Integrated Reporting framework. This case study is an important and informative example of how integrated reporting is a useful tool for governing particular kind of firm such as HERA. It is owned by both private investors and public administrations whilst operating in the public services sector.

Performance-Related Payments in Local Governments: Do They Improve Performance or Only Increase Salary?

ABSTRACT Personnel policies in public sector organizations are fundamental to improving public services, since they have an impact on both individual and organizational performance. Within the broad area of Human Resources Management (HRM), Performance-Related Pay Systems (PRPSs) are widely considered one of the cornerstones of public sector managerial reforms. Monetary incentives should be paid for performance achievements of single employees and/or teams, according to a defined set of objectives. While the role and appropriateness of PRPSs in the public sector have been widely discussed in the literature, in some countries monetary incentives have been used as a tool to increase individual salaries, without considering them as a motivating instrument in a wider HRM system. A small number of studies have been conducted to understand the limitations of this form of incentives and to investigate whether it can be replaced by different and more effective incentives in order to avoid the de-motivating effect caused by money, as recognized in the literature. This study tries to fill this gap investigating, through twenty-five interviews to informed respondents the effectiveness of existing PRPSs at Local government level in Italy both in terms of performance and motivation and the possibility to substitute monetary with non-monetary incentives. The findings suggest that the limitations of monetary incentives have been widely recognized, but it is still difficult to replace them with different and more effective alternatives.

Politics and Public Services: Looking Beyond Economic Rationality and Public Value

Abstract Purpose To understand whether new public management and public value theory are sufficient to guide the strategic behaviours adopted by public sector organizations for their service delivery companies. Design/methodology/approach This article uses a longitudinal case study of a joint stock company running an airport service in Tuscany. Findings Public value theory should be further developed to guide managerial behaviours in a very complex decision-making environment. Research limitations Only one case study is used so results cannot be generalized in a proper statistical way. Practical implications Public managers could learn the usefulness of managerial theories for their decision-making. Social implications Theories aimed at providing managers with insights into decisions made in complex situations should be tested in the real world before being accepted or refused. Originality/value This article analyzes a case study operating under and applying the concepts proposed by new public management and public value theory. It therefore offers insights on their applicability, shortcomings and usefulness for decision-making.

Sustainability standard setting as local government matter: an Italian experience

ABSTRACT Sustainability is a globally targeted concept widely debated in the literature, but still seeking a commonly agreed operationalization within applicable standards. The role of standard setter is commonly played by multi-stakeholder international organizations aiming at offering sound solutions for all kind of organizations, while what could be the role of a local government (LG) as sustainability standard setter and how this could impact on the definitions, rubrics, and measurement of sustainability is currently under-investigated. The case of an Italian LG already acting as standard setter allows to understand the reasons for, the strengths and the weaknesses of territorially bounded standards.

Editoriale. La creazione di valore: aspetti critici e problematiche di misurazione

L’assunzione che la creazione di valore sia un obiettivo coerente con il perseguimento del fine ultimo dell’impresa, ovvero il soddisfacimento dei bisogni umani, non è nuova nella dottrina economico-aziendale, che da tempo si è posta il problema di sviluppare una teoria del valore . In tale ottica, si pone il problema di come misurare il valore eventualmente creato tramite l’attività di produzione economica, ossia di definire il concetto di valore creato da parte di un’impresa e di individuare le tecniche e gli indicatori atti a stimare tale valore, che rappresenta una quantità economica congetturata. Ampio è il dibattito esistente fra chi sostiene che l’impresa deve creare valore principalmente per i propri azionisti, e strumentalmente per i propri stakeholder strategici, e coloro i quali ritengono che sia il valore per gli stakeholder aziendali l’obiettivo ultimo che una sana e lungimirante gestione dovrebbe porsi . Anche qualora ci si focalizzi nel tentativo di stimare il valore creato in un’ottica “shareholder”, si è sempre più consapevoli che il valore creato tramite la produzione economica sia difficilmente rappresentabile tramite la sola determinazione del reddito d’esercizio (ed il collegato capitale di funzionamento). Nonostante il processo di convergenza dei principi contabili in atto a livello internazionale, non esiste ancora una definizione univoca di reddito d’esercizio, essendo possibile misurarlo applicando diversi criteri di valutazione. Tali diversità possono determinare differenti risultati d’esercizio anche quando riferiti alla