Clicca qui per scaricare

How to be accountable to local stakeholders: A lesson from savings banks
Titolo Rivista: CONTABILITÀ E CULTURA AZIENDALE 
Autori/Curatori: Sara Moggi, Gina Rossi, Chiara Leardini 
Anno di pubblicazione:  2019 Fascicolo: Lingua: Inglese 
Numero pagine:  33 P. 35-67 Dimensione file:  325 KB
DOI:  10.3280/CCA2019-002003
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più:  clicca qui   qui 


Savings banks originated with a vocation for strong solidarity with their local communities. To preserve this link with local stakeholders, savings banks have developed a broad set of accountability mechanisms that involve local authorities and municipalities in their organisational activities. To explore the role of accountability in preserving their community bonds over time, this study investigates the 165-year history of the Verona Savings Bank from its founding in 1825 to the establishment of the homonymous bank foundation in 1991. The evolution of the accountability mechanisms depicts a resilient focus on including local stakeholder representatives in governance matters rather than allowing transparency to decrease over time. This confirms the need to broaden the concept of accountability, particularly when considering the pivotal role played by boards in enhancing accountability to local communities.


Keywords: Accountability mechanisms, governance, community banks, savings bank, stakeholders.

  1. Anheier H.K. (2014). Nonprofit organizations: Theory, management, policy. London and New York: Routledge.
  2. Baskerville R., Carrera N., Gomes D., Lai A. and Parker L. (2017). Accounting historians engaging with scholars inside and outside accounting: Issues, opportunities and obstacles. Accounting History, 22(4): 403-424., 10.1177/1032373217732349DOI: 10.1177/1032373217732349
  3. Barlev B. (2006). A biblical statement of accountability. Accounting History, 11(2): 173-197., 10.1177/1032373206063113DOI: 10.1177/1032373206063113
  4. Bisman J.E. (2012). Surveying the landscape: The first 15 years of Accounting History as an international journal. Accounting History, 17(1): 5-34., 10.1177/1032373211424883DOI: 10.1177/1032373211424883
  5. Borelli G. (2002). Dalla Cassa di Risparmio alla Fondazione. Il significato di un percorso di lungo periodo. In: La fondazione cassa di risparmio di Verona Vicenza Belluno e Ancona nel decennale della costituzione 1991-2001, 9-29. Verona: Fondazione Cariverona.
  6. Brennan N.M. and Solomon J. (2008). Corporate governance, accountability and mechanisms of accountability: an overview. Accounting, Auditing & Accountability Journal I, 21(7): 885-906., 10.1108/09513570810907401DOI: 10.1108/09513570810907401
  7. Brown W.A. (2002). Inclusive governance practices in nonprofit organizations and implications for practice. Nonprofit Management and Leadership, 12(4): 369-385.
  8. Cassa di Risparmio (1925). La cassa di risparmio della città di Verona e un secolo di vita economica veronese (The savings bank of Verona and a century of its economy). Verona: Officine Grafiche A. Mondadori.
  9. Cassa di Risparmio (1933). La cassa di risparmio di Verona e Vicenza e dieci anni di amministrazione fascista (The savings bank of Verona and Vicenza and ten years of fascism). Verona: Officine Grafiche A. Mondadori.
  10. Collier P.M. (2008). Stakeholder accountability: a field study of the implementation of a governance improvement plan. Accounting, Auditing & Accountability Journal, 21(7): 933-954., 10.1108/09513570810907429DOI: 10.1108/09513570810907429
  11. Connolly C., Hyndman N. and McConville D. (2013). UK charity accounting: An exercise in widening stakeholder engagement. The British Accounting Review, 45(1): 58-69.
  12. Cordery C. (2006). Hallowed treasures: sacred, secular and the Wesleyan Methodists in New Zealand, 1819-1840. Accounting History, 11(2): 199-220., 10.1177/1032373206063114DOI: 10.1177/1032373206063114
  13. Cordery C.J., Fowler C.J. and Morgan G.G. (2016). The development of incorporated structures for charities: A 100-year comparison of England and New Zealand. Accounting History, 21(2-3): 281-303., 10.1177/1032373216638104.DOI: 10.1177/1032373216638104.
  14. Dhanani A. and Connolly C. (2012). Discharging not-for-profit accountability: UK charities and public discourse. Accounting, Auditing & Accountability Journal, 25(7): 1140-1169.
  15. De Rosa L. (2002). Storia delle casse di risparmio e della loro associazione 1822-1950. Bari: Laterza.
  16. Deegan C. (2009), Financial Accounting Theory. Sydney: McGraw-Hill.
  17. Dowling J. and Pfeffer J. (1975). Organizational Legitimacy: Social Values and Organizational Behavior. The Pacific Sociological Review, 18(1): 122-136., 10.2307/1388226DOI: 10.2307/1388226
  18. Ebrahim A. (2003). Making sense of accountability: Conceptual perspectives for northern and southern nonprofits. Nonprofit Management and Leadership, 14(2): 191-212.
  19. Ebrahim A. (2010). The many faces of nonprofit accountability. In: Renz D.O., editor, The Jossey-Bass Handbook of Nonprofit Leadership and Management. San Francisco: John Wiley & Sons.
  20. Edwards M. and Hulme D. (1995). NGO performance and accountability in the post‐cold war world. Journal of International Development, 7(6): 849-856.
  21. Edwards M. and Hulme D. (1996). Too Close for Comfort? The Impact of Official Aid on Nongovernmental Organizations. World Development, 24(6): 961-73.
  22. Fry R.E. (1995). Accountability in organizational life: problem or opportunity for nonprofits? Nonprofit Management and Leadership, 6(2): 181-195.
  23. Gardener E.P., Molyneux P., Williams J. and Carbo S. (1997). European savings banks: facing up to the new environment. International Journal of Bank Marketing, 15(7): 243-254., 10.1108/02652329710194937DOI: 10.1108/02652329710194937
  24. Giacobazzi Fulcini F. (2001). Il periodo napoleonico (1796-1815). In: Zalin G., editor, Storia di Verona. Caratteri, aspetti, momenti. Verona: Neri Pozza.
  25. Gibelman M. and Gelman S.H. (2004). Loss of Credibility: Patterns of Wrongdoing Among Nongovernmental Organizations. Voluntas: International Journal of Voluntary and Nonprofit Organizations, 15(4): 355-381.
  26. Goddard A. and Assad M. Juma (2006). Accounting and navigating legitimacy in Tanzanian NGOs. Accounting, Auditing & Accountability Journal, 19(3): 377-404.
  27. Gomes D., Carnegie G.D., Napier C.J., Parker L.D. and West B. (2011). Does accounting history matter? Accounting History, 16(4): 389-402., 10.1177/1032373211417993DOI: 10.1177/1032373211417993
  28. Hoque Z. and Parker L. (2015). Accountability, Governance and Performance Management in Nonprofit Organizations. In: Hoque Z., Parker L.D., editors, Performance Management in Nonprofit Organizations: Global Perspectives. New York & London: Routledge., 10.1080/21552851.2017.1359100DOI: 10.1080/21552851.2017.1359100
  29. Larson M.J., Ward K. and Wilson J.F. (2010). Banking from Leeds, not London: regional strategy and structure at the Yorkshire Bank, 1859-1952.
  30. Accounting, Business & Financial History, 20(2): 117-133., 10.1080/09585206.2010.485744DOI: 10.1080/09585206.2010.485744
  31. Leardini C., Rossi G. and Moggi S. (2014). Board Governance in Bank Foundations. London: Springer.
  32. Leardini C., Moggi S. and Rossi G. (2019). The New Era of Stakeholder Engagement: Gaining, Maintaining, and Repairing Legitimacy in Nonprofit Organizations. International Journal of Public Administration, 42(6): 520-532.
  33. Lima Rodrigues L., Ricardino A. and Aversari Martins S.T. (2009). Corporate governance regulations: A new term for an ancient concern? The case of Grão Pará and Maranhão General Trading Company in Portugal (1754). Accounting History, 14(4): 405-435., 10.1177/1032373209342475DOI: 10.1177/1032373209342475
  34. Lindblom C.K. (1994). The implication of organizational legitimacy for corporate social performance and disclosure. Paper presented at the Paper presented at the Critical Perspectives on Accounting Conference, New York.
  35. Maixé-Altés J.C. (2009). Enterprise and philanthropy: the dilemma of Scottish savings banks in the late nineteenth century. Accounting, Business & Financial History, 19(1): 39-59., 10.1080/09585200802667154DOI: 10.1080/09585200802667154
  36. Maltby J. (2000). Was the Companies Act 1947 a response to a national crisis? Accounting History, 5(2): 31-60., 10.1177/1032373200005103201DOI: 10.1177/1032373200005103201
  37. Maltby J. (2004). Hadfields Ltd: Its annual general meetings 1903-1939 and their relevance for contemporary corporate social reporting. The British Accounting Review, 36(4): 415-439.
  38. Maltby J. (2012). ‘To bind the humbler to the more influential and wealthy classes’. Reporting by savings banks in nineteenth century Britain. Accounting History Review, 22(3): 199-225., 10.1080/21552851.2012.724909DOI: 10.1080/21552851.2012.724909
  39. Mercelis F., Wellens L. and Jegers M. (2016). Beneficiary Participation in Non-Governmental Development Organisations: A Case Study in Vietnam. The Journal of Development Studies, 52(10): 1446-1462., 10.1080/00220388.2016.1166209DOI: 10.1080/00220388.2016.1166209
  40. Merkl-Davies D.M., Brennan N.M. and McLeay S.J. (2011). Impression management and retrospective sense-making in corporate narratives: A social psychology perspective. Accounting, Auditing & Accountability Journal, 24(3): 315-344., 10.1108/09513571111124036.DOI: 10.1108/09513571111124036.
  41. Miles M.B., Huberman A.M. and Saldaña J. (2014). Qualitative Data Analysis. A Methods Sourcebook. London: Sage.
  42. Moggi S., Filippi V., Leardini C. and Rossi G. (2016). Accountability for a place in heaven: A stakeholders’ portrait in Verona’s confraternities. Accounting History, 21(2-3): 236-262., 10.1177/1032373216643078DOI: 10.1177/1032373216643078
  43. Moggi S., Leardini C. and Rossi G. (2015). Mandatory or Not Mandatory Reporting? Insights From Italian Bank Foundations. International Journal of Public Administration, 38(10): 734-742., 10.1080/01900692.2014.969842DOI: 10.1080/01900692.2014.969842
  44. Napier C.J. (2006). Accounts of change: 30 years of historical accounting research. Accounting, Organizations and Society, 31(4-5): 445-507.
  45. Parker L.D. (2005). Corporate governance crisis downunder: post-Enron accounting education and research inertia. European Accounting Review, 14(2): 303-314., 10.1080/09638180500126876DOI: 10.1080/09638180500126876
  46. Parker L.D. (2007). Financial and external reporting research: the broadening corporate governance challenge. Accounting & Business Research, 37(1): 39-54., 10.1080/00014788.2007.9730057DOI: 10.1080/00014788.2007.9730057
  47. Parker L.D., Hoque Z. (2015). Boardroom governance: Interrogating strategising, control and accountability processes. In: Hoque Z., Parker L.D. (eds.), Performance Management in Nonprofit Organizations. Global perspectives. New York: Routledge.
  48. Pitkin H.F. (1967). The concept of representation. University of California Press.
  49. Prieto B., Maté L. and Tua J. (2006). The accounting records of the Monastery of Silos throughout the eighteenth century: the accumulation and management of its patrimony in the light of its accounts books. Accounting History, 11(2): 221-256., 10.1177/1032373206063115DOI: 10.1177/1032373206063115
  50. Quattrone P. (2004). Accounting for God: accounting and accountability practices in the Society of Jesus (Italy, XVI-XVII centuries). Accounting, organizations and society, 29(7): 647-683.
  51. Rammal H.G. and Parker L.D. (2013). Islamic banking in Pakistan: A history of emergent accountability and regulation. Accounting History, 18(1): 5-29., 10.1177/1032373212463269DOI: 10.1177/1032373212463269
  52. Rika N., Finau G., Samuwai J. and Kuma C. (2016). Power and performance: Fiji rugby’s transition from amateurism to professionalism. Accounting History, 21(1): 75-97., 10.1177/1032373215623017DOI: 10.1177/1032373215623017
  53. Rossi G., Leardini C., Moggi S. and Campedelli B. (2015). Toward community engagement in non-profit organizations governance. Voluntary Sector Review, 6(1): 21-39., 10.1332/204080515X14251102462737.DOI: 10.1332/204080515X14251102462737.
  54. Sargiacomo M. and Rangone A. (2016). External Auditing, Governance and Auditing in Italian Saving Banks. In: Carretta A., Sargiacomo M, editors, Doing Banking in Italy: Governance, Risk, Accounting and Auditing issues. London: McGraw-Hill.
  55. Saxton G.D. (2005). The participatory revolution in nonprofit management. The Public Manager, 34: 34-39.
  56. Sinclair A. (1995). The chameleon of accountability: Forms and discourses. Accounting, Organizations and Society, 20(2-3): 219-237., 10.1016/0361-3682(93)E0003-YDOI: 10.1016/0361-3682(93)E0003-Y
  57. Soobaroyen T. and Mahadeo J.D. (2016). Community disclosures in a developing country: insights from a neo-pluralist perspective. Accounting, Auditing & Accountability Journal, 29(3): 452-482., 10.1108/AAAJ-08-2014-1810DOI: 10.1108/AAAJ-08-2014-1810
  58. Suchman M.C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. The Academy of Management Review, 20(3): 571-610.
  59. Swindell D. (2000). Issue representation in neighborhood organizations: Questing for democracy at the grassroots. Journal of Urban Affairs, 22(2): 123-137., 10.1111/0735-2166.00046DOI: 10.1111/0735-2166.00046
  60. Tacon R., Walters G. and Cornforth C. (2017). Accountability in non-profit governance: A process-based study. Nonprofit and Voluntary Sector Quarterly, 46(4): 685-704., 10.1177/0899764017691637DOI: 10.1177/0899764017691637
  61. Tinker A.M. (1980). Towards a political economy of accounting: an empirical illustration of the cambridge controversies. Accounting, Organizations and Society, 5(1): 147-160.
  62. Toms S. and Wright M. (2005). Divergence and convergence within Anglo-American corporate governance systems: Evidence from the US and UK, 1950-2000. Business History, 47(2): 267-295., 10.1080/0007679042000313684DOI: 10.1080/0007679042000313684
  63. Tosh J. (2010). The pursuit of history: Aims, methods and new directions in the study of modern history. Harlow: Pearson Education.
  64. Wagner A. (2014). Good governance: A radical and normative approach to nonprofit management. Voluntas: International Journal of Voluntary and Nonprofit Organizations, 25(3): 797-817.
  65. Lana-Berasain J.M. (2017). Accounting for the commons: bookkeeping and the stewardship of natural resources in northern Spain (sixteenth to twentieth centuries). Accounting History Review, 27(3): 223-248.
  66. Peng L. and Brown A. (2015). The milieu of accountability of early companies in the Qīng Dynasty: evidence from the Shànghǎi-based print media. Accounting History Review, 25(1): 1-26.

Sara Moggi, Gina Rossi, Chiara Leardini, in "CONTABILITÀ E CULTURA AZIENDALE" 2/2019, pp. 35-67, DOI:10.3280/CCA2019-002003

   

FrancoAngeli è membro della Publishers International Linking Association associazione indipendente e no profit per facilitare l'accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche