Italian Utilities and Public Control: Evidence of Merger Effects

Gabriele D’Alauro

International Journal of Public Administration, 2020, vol. 43, issue 7, 573-586

Abstract: Increasing competition-induced mergers amongst public utilities may favour in Italy a reduction in public control and an increase in fair value accounting. In this context, conducting a multiple case study characterized by an innovative comprehensive approach, it is investigated how the peculiarities of the sector affect integration and the subsequent accounting representation of the post-merger entity. The findings show, firstly, the persistent will of the public shareholders to maintain control and, secondly, shed light on a form of interconnected ‘accounting levelling out’ that seems ill-suited to represent the economic reality of the most significant post-merger companies, despite New Public Management provisions.

Date: 2020
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DOI: 10.1080/01900692.2019.1644517

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