Managing the Complexity through New Forms of Financial Reporting: A Multiple Case Study on Italian Public Museums

Abstract

During recent years, an increasing number of studies have started to discuss the introduction of new form of reports in public administration. Furthermore, the attention paid by academics has been favoured by the introduction of a new form of regulation by policy makers. Specifically, a large part of these studies has regarded the heritage sector due to its high degree of complexity. The attention paid to the heritage sector has been driven by the existence of asymmetries between the value of cultural assets and the profitability of institutions. According to this evidence, the aim of this paper is to evaluate the effectiveness of the Italian Integrated Economic Report (IER). Our research highlights that the adoption of managerial reports, such as the IER, could provide useful insights for policy makers in order to invest their financial resources in a more effective way.

Increasing the Managerial Performance of Romanian Museums with the Help of Stakeholders

“…Stakeholder theory generally deals with how partnerships with different categories of stakeholders should be managed and how they can be coopted into the decision-making process (Parmar et al, 2010). From Freeman (1984) until now, a large body of literature has been developed on stakeholders and the benefits of partnerships with them, in various fields and implicitly in that of the museum sector (Kotler & Kotler, 1998;Arinze, 1999;Halcro, 2008;Parmar et al, 2010;White, 2016;Ilie, 2018;Coghlan, 2018;Bitsos et al, 2019;Lehtinen et al, 2019;Milone & Pizzi, 2019;Moreno-Mendoza et al, 2019). The weak point of these studies is that the debate focuses on their numerical identification and specific characteristics, rather than on testing, the implementation of the stakeholder theory, the quantification of the results in the management performance of the institution, and the actual impact on the organization.…”

“…Although today museums are perceived as management institutions, however, Milone and Pizzi (2019) show that their impact on society cannot be quantified only economically, since a large part of its economic performance is related to intangible elements (impact in the community, reputation, location, as well as partnerships with other entities). However, the significant reduction in the contribution of public subsidies granted to museums in recent years has made urgent the need to invest the resources made available in a more efficient way, as well as to diversify the funding sources.…”