La diffusione dei modelli di leadership condivisa: un’analisi esplorativa sulle società quotate i

Titolo Rivista CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES
Autori/Curatori Francesca Romana Arduino, Alessandro Zattoni, Saverio Bozzolan
Anno di pubblicazione 2022 Fascicolo 2021/2
Lingua Italiano Numero pagine 15 P. 105-119 Dimensione file 0 KB
DOI 10.3280/cgrds2-2021oa12542
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Vedi l'articolo Scarica l'articolo open access

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

Il presente lavoro si propone di analizzare il fenomeno della leadership condivisa nelle imprese quotate italiane. In particolare, analizza la diffusione della dual leadership, ovvero la presenza di due amministratori delegati (co-AD), in contrapposizione alla tradizionale leadership unitaria. Recenti studi indicano che il fenomeno della leadership condivisa è in crescita a livello internazionale. La letteratura sottolinea anche che la nomina di co-AD è una delle possibili risposte organizzative per gestire efficacemente la crescente complessità esterna. La nomina di co-AD consentirebbe, infatti, all’impresa di ampliare la gamma di competenze ed esperienze manageriali disponibili. In questo lavoro, analizziamo tale fenomeno con riferimento alle imprese quotate italiane nel periodo 2005-2014. I risultati dello studio confermano la diffusione crescente della leadership condivisa, soprattutto nelle imprese familiari. Essi forniscono, inoltre, alcune utili indicazioni in merito alla selezione dei top manager e alla configurazione della leadership ai vertici delle imprese.

Parole chiave:; leadership condivisa; co-leadership; co-AD; top managers; corporate governance

  1. Krause R., Priem R., Love L. (2015). Who’s in charge here? Co-CEOs, power gaps, and firm performance. Strategic Management Journal, 36(13): 2099-2110. DOI: 10.1002/smj.2325
  2. Alvarez J.L., Svejenova S. (2005). Sharing Executive Power: Roles and Relationships at the Top, New York: Cambridge University Press.
  3. Alvarez J.L., Svejenova S., Vives L. (2007). Leading in Pairs. Sloan Management Review, 48(4): 10-14. -- Available at: https://search-ebscohostcom.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=25804789&lang=it&site=ehost-live&scope=site.
  4. Arena M.P., Ferris S.P., Unlu E. (2011). It takes two: The incidence and effectiveness of co-CEOs, Financial Review, 46(3): 385-412. DOI: 10.1111/j.1540-6288.2011.00305.x
  5. Arnone M., Stumpf S.A. (2010). Shared leadership: From rivals to co-CEOs, Strategy & Leadership, 38(2): 15-21. DOI: 10.1108/10878571011029019
  6. Avolio B., Walumbwa F., Weber T. (2009). Leadership: Current theories, research, and future directions, Annual Review of Psycology, 60(1): 421-449. DOI: 10.1146/annurev.psych.60.110707.163621
  7. Bantel, K.A., Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, vol. 10, pp. 107-124. DOI: 10.1002/smj.4250100709
  8. Barnard C.I. (1968). The Functions of the Executive, Cambridge, MA: Harvard University Press.
  9. Burke C.S., Fiore S.M., Salas E. (2003). The role of shared cognition in enabling shared leadership and team adaptability. In: Pearce C.L., Conger J.A. (Eds.). Shared leadership: Reframing the hows and whys of leadership. Thousand Oaks, CA: Sage Publishers, pp. 103-122.
  10. Carson J.B., Tesluk P.E., Marrone J.A. (2007). Shared leadership in teams: an investigation of antecedent conditions and performance, Academy of Management Journal, 50(5): 1217-1234. DOI: 10.5465/amj.2007.20159921
  11. Cater J.J. III, Justis R.T. (2010). The development and implementation of shared leadership in multi-generational family firms. Management Research Review, 33(6): 563-585. DOI: 10.1108/01409171011050190
  12. Chen G., Chittoor R., Vissa B. (2021). Does nepotism run in the family? CEO pay and pay‐performance sensitivity in Indian family firms. Strategic Management Journal, 42(7): 1326-1343. DOI: 10.1002/smj.3263
  13. Choi Y.S., Hyeon J., Jung T., Lee W.J. (2018). Audit pricing of shared leadership, Emerging Markets Finance and Trade, 5(42): 336-358. DOI: 10.1080/1540496X.2017.1348292
  14. Conger J., Kanungo R.N. (1998). Charismatic Leadership in Organizations, Thousand Oaks, CA: Sage Publishers.
  15. Cox J.F., Pearce C.L., Perry M.L. (2003). Toward a model of shared leadership and distributed influence in the innovation process. In: Pearce C.L., Conger J.A. (Eds.). Shared leadership: Reframing the hows and whys of leadership. Thousand Oaks, CA: Sage Publishers, pp. 48-76.
  16. Dalton D.R., Daily C.M., Ellstrand A.E., Johnson J.L. (1998). Meta-analytic reviews of board composition, leadership structure, and financial performance, Strategic Management Journal, 19: 269-290. DOI: 10.1002/(SICI)1097-0266(199803)19:3<269::AID-SMJ950>3.0.CO;2-K
  17. Day D.V., Gronn P., Salas E. (2006). Leadership in team-based organizations: On the threshold of a new era. The Leadership Quarterly, 17(3): 211-216. DOI: 10.1016/j.leaqua.2006.02.001
  18. Dennis S., Ramsey D., Turner C. (2009). Dual or Duel: Co-CEOs and Firm Performance, Journal of Business & Economic Studies, 15(1): 1-25. -- Available at: https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=38591585&lang=it&site=ehost-live&scope=site.
  19. Fayol H. (1949). General and Industrial Administration, New York: Pitman.
  20. Finkelstein S. (1992). Power in top management teams: dimensions, measurement, and validation, Academy of Management Journal, 35(3): 505-538. DOI: 10.5465/256485
  21. Finkelstein S., D’Aveni R.A. (1994). CEO duality as a double-edged sword: How boards of directors balance entrenchment avoidance and unity of command, Academy of Management Journal, 37: 1079-1108. DOI: 10.5465/256667
  22. Frauenheim E. (2009). Co-CEOs: Two at the top. Workforce Management, 88(6): 40. -- Available at: https://search-ebscohost-com.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=41787080&lang=it&site=ehost-live&scope=site.
  23. Gulick L., Urwick L. (1937). Papers in the science of administration. In Ott J.S., Shafritz J. (eds). Classics in Organizational Theory. Chicago, IL: The Dorsey Press, pp. 87-102.
  24. Hambrick D.C., Mason P. (1984). Upper echelons: the organization as a reflection of its top managers, Academy of Management Review, 9: 193-206. DOI: 10.5465/amr.1984.4277628
  25. Hasija D.B., Ellstrand A.E., Worrell D.L., Fowler H.D. (2017). Two heads may be more responsible than one: Co-CEOs and corporate social performance, Journal of Management Policy and Practice, 18(2): 9-21. -- Available at: https://search-ebscohostcom.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=129237903&lang=it&site=ehost-live&scope=site.
  26. Jackson S.E. (1992). Consequence of group composition for the interpersonal dynamics of strategic issue processing. In: Shrivastava P., Huff A.S., Dutton J.E. (Eds.). Advances in strategic management. Greenwich, CT: JAI Press, pp. 345-382.
  27. Jayaraman N., Khorana A., Nelling E., Covin J. (2000). CEO Founder Status and Firm Financial Performance, Strategic Management Journal, 21(12): 1215-1224. DOI: 10.1002/1097-0266(200012)21:12<1215::AID-SMJ146>3.0.CO;2-0
  28. McNulty T., Zattoni A., Douglas T. (2013). Developing corporate governance research through qualitative methods: a review of previous studies. Corporate Governance: An International Review, 21(2):183-198. DOI: 10.1111/corg.12006
  29. O’Toole J. (2001). When leadership is an organizational trait. In: Bennis W., Spreitzer G.M., Cummings T.G. (Eds.). The future of leadership. San Francisco: Jossey-Bass.
  30. O’Toole J., Galbraith J., Lawler E.E. III (2002). When two (or more) heads are better than one: The promise and pitfalls of shared leadership, California Management Review, 44: 65-83. DOI: 10.2307/41166143
  31. Pearce C.L., Conger J.A. (2003). Shared Leadership: Reframing the how’s and why’s of Leadership, Thousand Oaks, CA: Sage Publications Inc.
  32. Pearce C.L., Sims H.P. (2000). Shared leadership: Toward a multi-level theory of leadership. In: Beyerlein M., Johnson D., Beyerlein S. (Eds.). Advances in the Interdisciplinary Studies of Work Teams. New York, NY: JAI Press, vol. 7, pp. 115-139.
  33. Sally D. (2002). Co-leadership: Lessons from republican Rome. California Management Review, 44(4): 84-99. DOI: 10.2307/41166144
  34. Simon H.A. (1997). Administrative Behavior: A Study of Decision-making Processes. In: Administrative Organizations (3rd edn). New York: Collier Macmillan.
  35. Schulze W.S., Lubatkin M.H., Dino R.N. (2002). Altruism, agency, and the competitiveness of family firms. Managerial Decision Economics, 23(4-5): 247-259. DOI: 10.1002/mde.1064
  36. Villalonga B., Amit R. (2006). How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2): 385-417. DOI: 10.1016/j.jfineco.2004.12.005
  37. Zattoni A. (2019). The evolution of corporate governance in Italy: formal convergence or path-dependence? Corporate Governance and Research & Development Studies, 1: 13-35. DOI: 10.3280/cgrds1-2019oa8799
  38. Alvarez J.L., Svejenova S. (2005). Sharing Executive Power: Roles and Relationships at the Top, New York: Cambridge University Press.
  39. Alvarez J.L., Svejenova S., Vives L. (2007). Leading in Pairs. Sloan Management Review, 48(4): 10-14. -- Available at: https://search-ebscohostcom.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=25804789&lang=it&site=ehost-live&scope=site.
  40. Arena M.P., Ferris S.P., Unlu E. (2011). It takes two: The incidence and effectiveness of co-CEOs, Financial Review, 46(3): 385-412. DOI: 10.1111/j.1540-6288.2011.00305.x
  41. Arnone M., Stumpf S.A. (2010). Shared leadership: From rivals to co-CEOs, Strategy & Leadership, 38(2): 15-21. DOI: 10.1108/10878571011029019
  42. Avolio B., Walumbwa F., Weber T. (2009). Leadership: Current theories, research, and future directions, Annual Review of Psycology, 60(1): 421-449. DOI: 10.1146/annurev.psych.60.110707.163621
  43. Bantel, K.A., Jackson, S.E. (1989). Top management and innovations in banking: does the composition of the top team make a difference? Strategic Management Journal, vol. 10, pp. 107-124. DOI: 10.1002/smj.4250100709
  44. Barnard C.I. (1968). The Functions of the Executive, Cambridge, MA: Harvard University Press.
  45. Burke C.S., Fiore S.M., Salas E. (2003). The role of shared cognition in enabling shared leadership and team adaptability. In: Pearce C.L., Conger J.A. (Eds.). Shared leadership: Reframing the hows and whys of leadership. Thousand Oaks, CA: Sage Publishers, pp. 103-122.
  46. Carson J.B., Tesluk P.E., Marrone J.A. (2007). Shared leadership in teams: an investigation of antecedent conditions and performance, Academy of Management Journal, 50(5): 1217-1234. DOI: 10.5465/amj.2007.20159921
  47. Cater J.J. III, Justis R.T. (2010). The development and implementation of shared leadership in multi-generational family firms. Management Research Review, 33(6): 563-585. DOI: 10.1108/01409171011050190
  48. Chen G., Chittoor R., Vissa B. (2021). Does nepotism run in the family? CEO pay and pay‐performance sensitivity in Indian family firms. Strategic Management Journal, 42(7): 1326-1343. DOI: 10.1002/smj.3263
  49. Choi Y.S., Hyeon J., Jung T., Lee W.J. (2018). Audit pricing of shared leadership, Emerging Markets Finance and Trade, 5(42): 336-358. DOI: 10.1080/1540496X.2017.1348292
  50. Conger J., Kanungo R.N. (1998). Charismatic Leadership in Organizations, Thousand Oaks, CA: Sage Publishers.
  51. Cox J.F., Pearce C.L., Perry M.L. (2003). Toward a model of shared leadership and distributed influence in the innovation process. In: Pearce C.L., Conger J.A. (Eds.). Shared leadership: Reframing the hows and whys of leadership. Thousand Oaks, CA: Sage Publishers, pp. 48-76.
  52. Dalton D.R., Daily C.M., Ellstrand A.E., Johnson J.L. (1998). Meta-analytic reviews of board composition, leadership structure, and financial performance, Strategic Management Journal, 19: 269-290. DOI: 10.1002/(SICI)1097-0266(199803)19:3<269::AID-SMJ950>3.0.CO;2-K
  53. Day D.V., Gronn P., Salas E. (2006). Leadership in team-based organizations: On the threshold of a new era. The Leadership Quarterly, 17(3): 211-216. DOI: 10.1016/j.leaqua.2006.02.001
  54. Dennis S., Ramsey D., Turner C. (2009). Dual or Duel: Co-CEOs and Firm Performance, Journal of Business & Economic Studies, 15(1): 1-25. -- Available at: https://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=38591585&lang=it&site=ehost-live&scope=site.
  55. Fayol H. (1949). General and Industrial Administration, New York: Pitman.
  56. Finkelstein S. (1992). Power in top management teams: dimensions, measurement, and validation, Academy of Management Journal, 35(3): 505-538. DOI: 10.5465/256485
  57. Finkelstein S., D’Aveni R.A. (1994). CEO duality as a double-edged sword: How boards of directors balance entrenchment avoidance and unity of command, Academy of Management Journal, 37: 1079-1108. DOI: 10.5465/256667
  58. Frauenheim E. (2009). Co-CEOs: Two at the top. Workforce Management, 88(6): 40. -- Available at: https://search-ebscohost-com.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=41787080&lang=it&site=ehost-live&scope=site.
  59. Gulick L., Urwick L. (1937). Papers in the science of administration. In Ott J.S., Shafritz J. (eds). Classics in Organizational Theory. Chicago, IL: The Dorsey Press, pp. 87-102.
  60. Hambrick D.C., Mason P. (1984). Upper echelons: the organization as a reflection of its top managers, Academy of Management Review, 9: 193-206. DOI: 10.5465/amr.1984.4277628
  61. Hasija D.B., Ellstrand A.E., Worrell D.L., Fowler H.D. (2017). Two heads may be more responsible than one: Co-CEOs and corporate social performance, Journal of Management Policy and Practice, 18(2): 9-21. -- Available at: https://search-ebscohostcom.ezproxy.uniroma1.it/login.aspx?direct=true&db=bth&AN=129237903&lang=it&site=ehost-live&scope=site.
  62. Jackson S.E. (1992). Consequence of group composition for the interpersonal dynamics of strategic issue processing. In: Shrivastava P., Huff A.S., Dutton J.E. (Eds.). Advances in strategic management. Greenwich, CT: JAI Press, pp. 345-382.
  63. Jayaraman N., Khorana A., Nelling E., Covin J. (2000). CEO Founder Status and Firm Financial Performance, Strategic Management Journal, 21(12): 1215-1224. DOI: 10.1002/1097-0266(200012)21:12<1215::AID-SMJ146>3.0.CO;2-0
  64. Krause R., Priem R., Love L. (2015). Who’s in charge here? Co-CEOs, power gaps, and firm performance. Strategic Management Journal, 36(13): 2099-2110. DOI: 10.1002/smj.2325
  65. McNulty T., Zattoni A., Douglas T. (2013). Developing corporate governance research through qualitative methods: a review of previous studies. Corporate Governance: An International Review, 21(2):183-198. DOI: 10.1111/corg.12006
  66. O’Toole J. (2001). When leadership is an organizational trait. In: Bennis W., Spreitzer G.M., Cummings T.G. (Eds.). The future of leadership. San Francisco: Jossey-Bass.
  67. O’Toole J., Galbraith J., Lawler E.E. III (2002). When two (or more) heads are better than one: The promise and pitfalls of shared leadership, California Management Review, 44: 65-83. DOI: 10.2307/41166143
  68. Pearce C.L., Conger J.A. (2003). Shared Leadership: Reframing the how’s and why’s of Leadership, Thousand Oaks, CA: Sage Publications Inc.
  69. Pearce C.L., Sims H.P. (2000). Shared leadership: Toward a multi-level theory of leadership. In: Beyerlein M., Johnson D., Beyerlein S. (Eds.). Advances in the Interdisciplinary Studies of Work Teams. New York, NY: JAI Press, vol. 7, pp. 115-139.
  70. Sally D. (2002). Co-leadership: Lessons from republican Rome. California Management Review, 44(4): 84-99. DOI: 10.2307/41166144
  71. Simon H.A. (1997). Administrative Behavior: A Study of Decision-making Processes. In: Administrative Organizations (3rd edn). New York: Collier Macmillan.
  72. Schulze W.S., Lubatkin M.H., Dino R.N. (2002). Altruism, agency, and the competitiveness of family firms. Managerial Decision Economics, 23(4-5): 247-259. DOI: 10.1002/mde.1064
  73. Villalonga B., Amit R. (2006). How do family ownership, control and management affect firm value? Journal of Financial Economics, 80(2): 385-417. DOI: 10.1016/j.jfineco.2004.12.005
  74. Zattoni A. (2019). The evolution of corporate governance in Italy: formal convergence or path-dependence? Corporate Governance and Research & Development Studies, 1: 13-35. DOI: 10.3280/cgrds1-2019oa8799

  • CEO Succession and Shared Leadership: Which factors shape firm performance? Fabio Quarato, Domenico Rocco Cambrea, Francesco Laviola, in CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES 1/2023 pp.103
    DOI: 10.3280/cgrds1-2023oa15766

Francesca Romana Arduino, Alessandro Zattoni, Saverio Bozzolan, La diffusione dei modelli di leadership condivisa: un’analisi esplorativa sulle societ&agrave; quotate i in "CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES" 2/2021, pp 105-119, DOI: 10.3280/cgrds2-2021oa12542