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The title of this book suggests the possibility that new ways of managing innovative processes may favour an evolution of the economy towards an altruistic model. This chapter argues that the acceleration of innovative processes at the turn of the millennium has produced, or at least has not avoided, phenomena of the concentration of wealth and power in which it is difficult to discern an altruistic root. It is observed that the cultural models developed to interpret innovative phenomena are also focused on the profit of individual companies and not on altruistic values. The author goes on to indicate the appropriateness of referring to less limited phenomenological models and suggests exploring an analogy of innovation with Darwinian evolution. An outline of this approach is provided.

This paper aims at exploring the historical roots of ideals-based accountability (IBA) in a family business of the past. It examines the narrative accounts of the history of an Italian long-lived family business written by one of its latest business owners to determine how and to what extent it was used to discharge a more ethical form of accountability.

An extensive thematic analysis informed on the conceptual framework of IBA is conducted on the unpublished manuscript by Angelo Barovier, the oldest leader of the Barovier’s family business.

The retrospective narrative served the family owner as a means for IBA, unveiling to the present and future generations of family owners the values and ideals that had motivated the ancestors to sustain the family business throughout the centuries despite the financial performance or the adversities.

This paper reveals the historical roots of IBA as grounded in family business historical narratives. It contributes to management and family business history by showing the historical relevance of ideals and values for the development and sustainment of a family business.

This study opens to a larger application of IBA also in contemporary businesses, as a tool to foster and disseminate a more ethical form of accountability and to a further extent support the construction of a more ethical society.

This paper connects the newly developed IBA framework, conceived for family businesses, to a management history perspective showing its potential for the intergenerational transmission of business culture.

This paper aims to answer the following research questions: To what extent do banks use credit derivatives (CDs)? What are the differences between users and non-users? What are the main underlying motivations?

The annual reports of 112 Italian banks are analysed during the 2005-2011 period. By estimating a probit regression model, two incentives for using CD are tested: managing credit risk, and increasing a bank’s income composition/diversification. Different sub-samples are considered. The motivations are further investigated to understand whether they vary before and after the crisis.

A limited number of banks use CD and larger and listed banks are more likely to do so. The results do not support the hedging hypothesis. Signals pointing towards the financial distress hypothesis emerge. Less capitalised banks are more likely to use CD. For listed banks, the findings support the hypothesis that economies of scale exist. After the financial crisis, a number of determinants tend to gain significance, and a speculative driver emerges.

Previous studies focus primarily on the USA, and single-country studies do not exist in the literature. Given the importance of risk management that the crisis has reinforced, investigating whether CD use has changed before and after the crisis is of interest. Given the incompleteness of the information on CDs, the paper contributes to increasing the available information on CDs by hand-collecting data from banks’ financial statements.