MARKET, CULTURAL HERITAGE AND THE SOLUTION TO THE CORPORATE GOVERNANCE PROBLEMS

The current economic scenario and the cultural heritage are two very important factors that heavily affect the companies and the way in which they can resolve the corporate governance problems. According to this principle, we intend making an analysis on the endogenous and the exogenous factors affecting the company and its structure. For example, in Italy the difficult situation on the market - straightly connected with the international financial and economic crisis - involved relevant changes concerning the number of firms, their structure and their own management. But it is not the single reason causing the companies metamorphosis. The cultural heritage played - and still today it plays - an important role for the company growth and dimension. The analysis is divided in two parts: First part: comprehension of the exogenous factors indirectly affecting the company and their structure. As we will see, the corporate governance is connected with different factors and it straightly depends from them. In this part we will analyze Market, Technology and Tax burden. Above all, the cultural heritage is one of the most important factors, then it will be analyzed in depth. Second part: analysis on the endogenous factors that directly affect the corporate governance. Stakeholders’ importance for the company development and performance will be deeply considered. More in particular, in this part we propose to analyze the way in which Stakeholders affect the company management – then consequently its performance - and above all the relationship between small company-Stakeholders and large company-Stakeholders. Conclusions: This study, therefore, proposes to make an analysis of the reality which today characterizes the companies, the factors that are affecting it and the new challenges for the Corporate Governance in Italy.