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La corporate governance nei servizi pubblici locali a rilevanza economica: strumenti per la gestione del consenso sociale


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  • Francesco Badia



In this work we consider the link between corporate governance and social responsibility (CSR) in local utilities companies. More specifically, we use the term 'tool of corporate governance' as a tool able to support the governance of a company to reach its strategic aims, reconcile efficiency and effectiveness, verify (and demonstrate) social responsibility. Social 'consensus' considers the necessity (particularly critical for local utilities) for a company to get the external stakeholders' ap-proval. Social consensus and social responsibility are important for every kind of company, but they become critical resources for a local utility company, likewise the concept (and the concrete appli-cation) of accountability. The empirical part of this work considers eight local utilities companies, listed on the Italian Stock Exchange. Specific subjects of the empirical analysis are the level of CSR consideration, through the presence of social/sustainability reporting and its level of 'quality'. We conclude that the corporate governance tools for managing social consensus in local utilities com-panies should consider the environmental effect of the corporate activities, the level of transparency and responsibility in providing services, the capacity to develop confidence within the territory, the satisfaction of expressed and un-expressed needs of the community and the internal satisfaction of the company's human resources.

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Bibliographic Info

Paper provided by University of Ferrara, Department of Economics in its series Working Papers with number 201012.

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Length: 24 pages
Date of creation: 02 Dec 2010
Date of revision:
Handle: RePEc:udf:wpaper:201012

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Keywords: local utilities; corporate governance; social consensus; sustainability reporting;

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  1. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 26(2), pages 301-25, June.
  2. Shann Turnbull, 1997. "Corporate Governance: Its scope, concerns and theories," Corporate Governance: An International Review, Wiley Blackwell, Wiley Blackwell, vol. 5(4), pages 180-205, October.
  3. Cadbury, Adrian, 2002. "Corporate Governance and Chairmanship: A Personal View," OUP Catalogue, Oxford University Press, Oxford University Press, number 9780199252008, October.
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