La relazione tra l?esperienza degli amministratori e il business plan: un?indagine empirica sulle imprese quotate in Italia

Emmadonata Carbone, Sara Saggese and Fabrizia Sarto

MANAGEMENT CONTROL, 2023, vol. 2023/1, issue 1, 69-94

Abstract: The paper aims to explore the influence of board human capital on the preparation and quality of business plans. It focuses on a sample of 249 Italian listed companies and examines the related business plans by the content analysis and the development of a disclosure quality index. The regressions show that the directors? managerial, financial and legal expertise are related to the business plan?s drafting. The paper fills a gap in the literature on the voluntary forward-looking disclosure by exploring the determinants of business plans and shedding light into the role of board expertise. Moreover, it expands current knowledge by examining both the presence and the quality of such document through the development of a disclosure quality index. Finally, it highlights the effects of nomination committees? choices on the voluntary forward-looking disclosure and offers insights into the role of board human capital for strategic planning activity and communication.

Date: 2023
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