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Nasta, Luigi

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Luigi Nasta is adjunct professor at JCU and Luiss University. He is Research Fellow at the Luiss Business School Competence Center on Creative Industries. Professor Nasta received his doctoral degree in Management from Luiss University, Italy. He was a visiting researcher in the ARC Centre of Excellence for Creative Industries and Innovation (CCI) at Queensland University of Technology. His research work in the field of digitalization, cultural institutions, crowdsourcing, and business model was published in peer-reviewed journals including Sustainability, Finance Research Letters, International Journal of Business Research and Management (IJBRM), Creative Industries Journal, and Journal of International Accounting Research and chapters for Springer, Routledge, and IntechOpen books.

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Now showing 1 - 10 of 19
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    Motherhood and Leadership: Exploring Employee Perceptions of Female Leaders in the Workplace
    (2024) Magnanelli, Barbara Sveva; Nasta, Luigi; Scicchitano, Sergio
    A key challenge faced by female leaders, especially mothers, is the persistence of “maternity bias,” which reflects prejudices that arise from assumptions about a woman’s ability to lead due to her actual or anticipated responsibilities as a mother. This bias often results in unjust treatment, such as reduced career opportunities and the assumption that mothers are less dedicated to their work. This paper investigates the impact of motherhood on the perception of female leaders within organizations, addressing a gap in the literature on gender and leadership. While existing studies often focus on differences between male and female leadership styles, they overlook the specific challenges faced by female leaders who are mothers. This study aims to examine whether being a mother for a female leader affects employees' perceptions and their intention to remain with the organization and if this is mediated by their leadership style. Using a sample of companies belonging to various industries and from different countries, the study will investigate how employees perceive the competence and leadership of their female leaders based on their motherhood status. The results suggest that employees’ perceptions of ethical leadership play a key role in their intention to stay with the organization. While the leader’s identity as a mother does not directly influence retention, it shapes employees' views of their ethical leadership, which in turn significantly impacts their decision to remain with the firm. This highlights the importance of ethical leadership in fostering employee retention. Results can inform policies aimed at reducing gender-based discrimination and improving organizational diversity and leadership equity.
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    Empowering Innovation: The Role of Female Transformational Leadership and Intellectual Capital
    (2025) Nasta, Luigi; Magnanelli, Barbara Sveva; Pirolo, Luca
    This study examines the complex relationships between female transformational leadership, intellectual capital, and innovation. It addresses a gap in the existing literature by focusing on the specific contributions of female leaders to intellectual capital and innovative outcomes. A structured questionnaire was distributed to participants via Prolific’s online platform over four weeks in April and May 2023. Out of 878 submissions, 492 were from participants with female supervisors and 354 from those with male supervisors. The conceptual model was evaluated using the SPSS PROCESS macro (Model 4 – simple mediation model). The findings reveal that while female transformational leadership indirectly boosts incremental innovation through intellectual capital, it has both direct and indirect effects on radical innovation. Intellectual capital acts as a central mediator, translating leadership qualities into innovative practices and organizational value creation. Overall, the study offers new insights into the strategic importance of gender diversity in leadership roles. By highlighting the distinctive abilities of female leaders to foster inclusive, trust-based, and collaborative environments, the research provides meaningful theoretical contributions and practical implications for organizations aiming to enhance innovation through effective leadership and sustained intellectual capital development. These results inform policy makers and support ongoing debates on equitable leadership representation worldwide today.
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    PublicationOpen Access
    From Profits to Purpose: ESG Practices, CEO Compensation and Institutional Ownership Ciaburri
    (2024) Nasta, Luigi; Magnanelli, Barbara Sveva; Ciaburri, Mirella
    Purpose – Based on stakeholder, agency and institutional theory, this study aims to examine the role of institutional ownership in the relationship between environmental, social and governance practices and CEO compensation. Design/methodology/approach – Utilizing a fixed-effect panel regression analysis, this research utilized a panel data approach, analyzing data spanning from 2014 to 2021, focusing on US companies listed on the S&P500 stock market index. The dataset encompassed 219 companies, leading to a total of 1,533 observations. Findings – The analysis identified that environmental scores significantly impact CEO equity-linked compensation, unlike social and governance scores. Additionally, it was found that institutional ownership acts as a moderating factor in the relationship between the environmental score and CEO equity-linked compensation, as well as the association between the social score and CEO equity-linked compensation. Interestingly, the direction of these moderating effects varied between the two relationships, suggesting a nuanced role of institutional ownership. Originality/value – This research makes a unique contribution to the field of corporate governance by exploring the relatively understudied area of institutional ownership’s influence on the ESG practices–CEO compensation nexus.
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    Beyond the Numbers: Exploring the Multifaceted Impact of Big Data Analytics on Auditing
    (2024) Nasta, Luigi; Magnanelli, Barbara Sveva; Alessi, Giacomo
    This article investigates the impact of implementing big data analytics in external auditing firms on audit quality, focusing on effectiveness, efficiency, and risk. A survey with 123 auditors collected quantitative data on the benefits and drawbacks of big data analytics in auditing. Big data analytics implementation improves audit efficiency and effectiveness, but the impact on audit risk varies. Integrating big data analytics enhances audit effectiveness and efficiency, enabling auditors to prioritise value-added tasks and gain a better understanding of audited organisations. This study is pioneering in that it investigates the components of audit quality - effectiveness, efficiency, and risk - individually within a single research endeavour. The segmented analysis based on the size of the auditors' engagement portfolios adds a unique dimension to the study. Auditors' engagement portfolio size affects the impact of technology adoption, crucial for firms' technology roll-out planning.
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    Female CEOs and Firm Performance during COVID-19 Pandemic: An Empirical Analysis of Italian-Listed Firms
    (2023) Tiscini, Riccardo; Ciaburri, Mirella; Magnanelli, Barbara Sveva; Nasta, Luigi
    The COVID-19 pandemic has been a disruptive and unexpected event that has impacted businesses worldwide. It is necessary to investigate the characteristics of companies that enable them to face and respond to this critical situation more effectively. The purpose of the present study is to determine whether the presence of a female CEO during unanticipated critical events affects a company’s performance. Given the increasing significance of gender at the highest levels of management, more research has been conducted on female leadership. However, there is limited research on female leadership during disruptive periods and events. Over the course of 3 years (2017–2020), an empirical analysis was conducted on a sample of Italian publicly traded companies, meaning that data was collected and analyzed during the COVID-19 pandemic. The results indicate that female leadership during the pandemic has a positive impact on the performance of the company.
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    Do Female Directors on Corporate Boards Make a Difference in Family Owned Businesses?
    (2019) Magnanelli, Barbara Sveva; Nasta, Luigi; Raoli, Elisa
    This paper investigates how the presence of female directors on corporate boards impacts the performance of family firms. This study enriches the literature on gender diversity on corporate boards and its effects on firm performance by focusing on a country in which family businesses are dominant. The empirical analysis is conducted on a sample of 165 Italian-listed firms from 2011 to 2016, representing the period during which the mandatory gender quota law was introduced and implemented in Italy. The results show a positive relationship between the presence of women on corporate boards and firm performance, specifically in family owned businesses. These findings lead to the conclusion that female directors do not have a negative impact on firm performance. And, given the domination of family businesses and a mandatory gender quota law in Italy, this study makes a regulatory and performance assessment not previously examined in the literature.
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    PublicationOpen Access
    Antecedents of labor shortage in the rural hospitality industry: a comparative study of employees and employers
    (2022) Innerhofer, Johanna; Nasta, Luigi; Zehrer, Anita
    Purpose Although the role of human capital in the hospitality sector is critical, the industry faces challenges in attracting workers with a poor industry image frequently mentioned regarding labor shortages. This research paper attempts to investigate the factors influencing labor shortages by presenting the perspectives of employees and employers. Design/methodology/approach Precisely 232 rural hospitality industry employees (n = 128) and employers (n = 104) in Northern Italy were surveyed using a written close-ended online survey and a quantitative research design as part of a convenience sampling approach. For hypotheses testing, Spearman's rho was used. Findings A relationship between the shortage of professional workers and a variety of factors was found, including professional, digital, social and green skills, industry-intrinsic characteristics and symbolic image attributes of the industry. The findings show that some factors are more important for employees, while others are more significant for employers. Practical implications This study demonstrates several practical implications for the hospitality sector by addressing the under-researched stakeholder group of existing hospitality employees, e.g. improving working conditions, reduction of manual operations through digital technologies, realistic career planning, employer branding, identification of skill deficiencies and provision of specialized trainings. Originality/value Most research on labor shortages in the hospitality industry has focused on the perspective of either employees or employers. This study compares both perspectives, including the industry image, to gain a realistic picture of the relevant factors for a rural tourism destination in Northern Italy.
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    PublicationOpen Access
    Does ESG Disclosure Influence Firm Performance?
    (2022) Carnini Pulino, Silvia; Ciaburri, Mirella; Magnanelli, Barbara Sveva; Nasta, Luigi
    This study aims to analyze the impact of the environmental, social, and governance (ESG) disclosure on the firm performance, given the stakeholders’ increasing attention to the firm’s ESG practices. Looking at the European context, the Directive 2014/95/EU and its update encouraged European large companies to provide disclosure about their socially responsible practices. Acting within the Agency and Signaling theory frameworks, this paper focuses on the Italian situation where the Legislative Decree 254/2016 implemented the European Directive and forced the largest firms (those with more than 500 employees) to disclose comprehensive information about their social and environmental activities starting from 2017. By applying a panel regression analysis, using a sample of the largest Italian listed companies, and considering a time span of 10 years (from 2011 to 2020), this study finds that there is a positive relationship between environmental, social, and governance disclosure and firm performance, measured by EBIT. Our findings will help firms’ stakeholders, decision-makers, policymakers, as well as academics, to improve their awareness of the impact of ESG disclosure on the performance of the firm, both as a comprehensive factor and individually by pillar. The findings, which support the positive relationship between ESG disclosure and firm performance, should incentivize managers to invest in CSR practices.
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    PublicationOpen Access
    Female CEOs Facing Challenges during Covid-19 Pandemic: Differences in Family and Non-Family Firms
    (2022) Magnanelli, Barbara Sveva; Ciaburri, Mirella; Nasta, Luigi; Tiscini, Riccardo
    The COVID-19 pandemic has been a disruptive unexpected event that hit firms worldwide. It is necessary starting to investigate on the features of the firms which better allowed companies to face and react to this critical situation. The present study aims at investigating as first whether firm performance is affected by the presence of a female CEO during unexpected critical events, and then by exploring the effects of being a family firm during a crisis period. Moreover, the study aims at exploring also the impact of having a female CEO in case the firm is a family one. In fact, given the rising importance of gender in top managerial levels, more research has been focusing on female leadership. However,stilllittle research exists on female leadership in family firms.An empirical analysis was conducted on a sample of Italian listed firms overathree-yearperiod (2018–2020),which means data were collected and analyzed through the COVID-19 pandemic. The results show that female leadership during the pandemic has a positive effect on firm performance.Likewise, family firmsare able to outperform non-family firms during the occurrence of an unexpected critical event.
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    PublicationOpen Access
    Preventing financial statement frauds through better corporate governance
    (2017) Magnanelli, Barbara Sveva; Pirolo, Luca; Nasta, Luigi
    Acting within the agency theory theoretical framework, the paper focuses on the role of the corporate governance as a system to monitor and predict the fraud occurrence and magnitude. Specifically, the study examines the impact of the quality of the corporate governance of the firms, for which a fraud was detected, on the fraud occurrence and magnitude. We posit that fraudulent behaviours, by those who can take advantage of information asymmetry and gain personal benefits from them, can occur when strong agency problems emerge and a weak governance exists. Thus, the financial statement fraud can be seen as the result of high agency problems and high conflicts of interests not solved by the company. Starting from a sample of 101 listed companies, for which a fraud was detected, using a principal component analysis, we develop a corporate governance index, which measures the quality of the governance system of the firms. To test the hypothesis, we run a multinomial logistic regression on a cross-sectional analysis, controlling the results with a matched sample of firms that did not experienced any fraud. Empirical evidences seem to confirm the existence of a negative relationship between the quality of the corporate governance system of a firm and both the financial statement fraud occurrence and magnitude, indicating the governance system of the firm as a fraud deterrent for any amount of financial statement fraud. These findings are even stronger for firms characterized by the presence of a blockholder. This study contributes to the governance literature by focusing on the corporate governance quality and its impact on financial statement frauds. Moreover, the analysis suggests that a good level of governance can help companies to mitigate the agency problems and to detect fraudulent behaviours, thus our empirical evidence can guide regulators in developing regulations to avoid the fraud occurrence.