Michael Murgolo

@monaco.edu

Department of Economics and Finance
IUM - International University of Monaco

Michael Murgolo


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https://researchid.co/michael_murgolo
Adjunct Professor and CPA

EDUCATION

PhD in Finance and Accounting, LIUC - Cattaneo University
Master in Taxation, IPSOA – Wolters Kluwer
MSc in Economics and Management, Bocconi University
BSc in Economics and Management, Bocconi University

RESEARCH INTERESTS

Research in Accounting, ESG Dynamics, Corporate Governance and Green Finance
8

Scopus Publications

398

Scholar Citations

6

Scholar h-index

5

Scholar i10-index

Scopus Publications

  • Small but Impactful: The Growing Role of SMES in Sustainability and ESG Reporting
    Valentina Minutiello, Patrizia Tettamanzi, Michael Murgolo
    Corporate Social Responsibility and Environmental Management, 2026
    Integrating environmental and social practices into small and medium‐sized enterprises (SMEs) remains challenging, particularly, due to limited corporate social responsibility (CSR) implementation and the lack of effective environmental management tools. This study explores the drivers behind sustainability adoption and environmental, social and governance (ESG) disclosure among 196 Italian manufacturing SMEs in the northern region. Using a mixed‐methods approach and PLS‐SEM analysis, the research identifies the main factors influencing SMEs' alignment with the sustainable development goals (SDGs). Results show that corporate beliefs are more influential in guiding sustainability strategies than leaders' personal backgrounds or firm characteristics. Additionally, the availability of sustainability accounting tools and the impact of the COVID‐19 pandemic have accelerated sustainability transitions. The study provides early but significant insights into how SMEs are approaching responsible practices and offers guidance for policymakers and institutions to support this shift. It highlights the urgent need for targeted frameworks that help SMEs fully integrate social and environmental considerations, thus contributing meaningfully to the global SDGs agenda.
  • The European Union (EU) green taxonomy: codifying sustainability to provide certainty to the markets
    Patrizia Tettamanzi, Riccardo Gotti Tedeschi, Michael Murgolo
    Environment Development and Sustainability, 2024
  • How Ethical Behavior Is Considered in Different Contexts: A Bibliometric Analysis of Global Research Trends
    Le Vu Lan Oanh, Patrizia Tettamanzi, Dinh Tien Minh, Maurizio Comoli, Kamel Mouloudj, Michael Murgolo, Mai Dang Thu Hien
    Administrative Sciences, 2024
    In the past, sustainable development was considered a guideline for all human activities, but the world has gradually changed. The criteria for action today must not only ensure sustainability but also meet appropriate ethical standards in diverse contexts. As a result, the topic of ethical behavior has been studied more extensively in recent studies. Accordingly, through bibliometric approaches, this study seeks to generalize the issues of ethical behavior explored in a variety of contexts from 1991 to 2022. A total of 1409 articles were found and extracted from the Web of Science using the keywords “ethical behavior” and “context”; they were then decoded using VOSviewer software (version 1.6). Three techniques, including bibliographic coupling, co-citation, and co-occurrence were conducted to identify the six most influential contexts in ethical behavior. The results demonstrate that the six most influential contexts in ethical behavior are consumption, leadership, business, organization, medical, and education. The results further revealed that leading countries such as the USA and UK have a larger number of studies on ethical behavior in many different contexts, such as organization, business, education, health, consumption, and politics. The Journal of Business Ethics leads the way in research into ethical behavior, followed by the Journal of Applied Psychology.
  • Accounting, ESG dynamics and the pandemic: when the quality of disclosure becomes crucial to sustainable success
    Michael Murgolo, Patrizia Tettamanzi, Valentina Minutiello
    Corporate Governance Bingley, 2024
    Purpose This study aims to investigate the quality of disclosure of a cutting-edge reporting tool – integrated reporting (<IR>) – in terms of its effectiveness to report on COVID-19 pandemic information, its ability to provide forward-looking information and risk impact implications, and its quality determinants in challenging times. Design/methodology/approach Thanks to a content analysis of 247 <IR> for FY20, an integrated reporting disclosure score was developed to assess the disclosure quality provided by the sampled companies. Three research questions were tested through logistic regressions. Findings Non-financial disclosure activities struggle to provide adequate information in terms of potential future scenarios, risk assessment and forward-looking analyses. However, companies incorporated in “Anglo-Saxon” territories drafted integrated reports of higher quality. More recently, incorporated companies have made a greater effort to measure and report COVID-19 pandemic impacts on environmental, social and governance and business activities, also increasing their risk assessment and mitigation efforts. Concerning the determinants of disclosure quality, leverage, corporate governance structures, country of incorporation and belonging to “high impact” industries all lead to a higher quality of <IR> disclosure. Originality/value Examining in detail corporate social responsibility activities and corporate governance integrity is pivotal to orienting strategy towards sustainable trajectories: to do so, corporate reporting and disclosure practices are essential tools. In this context, corporate governance systems that emphasize board diversity are proven, even in disruptive circumstances, to play a crucial role in providing corporate reports of higher quality. High disclosure quality that goes beyond mere financial results is considered to be necessary to remain competitive strategically, socially and environmentally.
  • The quest for sustainable sports management: evidence from the football industry
    Patrizia Tettamanzi, Francesco Grazioli, Michael Murgolo
    Sport Business and Management an International Journal, 2024
    PurposeThis study investigates how the COVID-19 pandemic has affected the sustainability of sports business models by means of a specific case analysis, conducted on M-I Stadio S.r.l., the service management firm that provides all types of backstage activities related to football matches performed at San Siro Stadium in Italy.Design/methodology/approachBuilding on interviews on its management team's direct experience and on archival data, the authors depict the consequences of the pandemic in terms of corporate governance, accounting choices and overall strategic business development through information triangulation from a forward-looking perspective.FindingsComplying with restrictions, M-I Stadio S.r.l. preserved its financial position by embracing digitalization, increasing information flows with partners and adopting a risk aversion behaviour. Overall, results indicate that the pandemic played a catalyst role in the transformation process of the football industry. Moreover, apart from the physical and virtual merge acceleration, well-being for athletes, society and the planet, transcending the gaming part of sports activities has also been taking place. The study also illustrates the foreseeable developments of sustainable sport management practices from a critical perspective.Originality/valueSince the San Siro Stadium management company might represent one of the forefront companies, within the sports industry, this study results should be conveniently taken into consideration by sporting authorities and international bodies, emphasizing the relevance of sustainability (i.e. environmental and social practices within the sports industry) and digitalization so as to better prepare sports organizations and to provide the overall industry with the tools deemed necessary to navigate this important transition in a smoother way.
  • Accounting education and digitalization: A new perspective after the pandemic
    Patrizia Tettamanzi, Valentina Minutiello, Michael Murgolo
    International Journal of Management Education, 2023
    This study investigates how the Italian academic system tackled the COVID-19 emergency, in terms of teachers' perceptions of how to provide an effective educational experience during this unprecedented situation. We analyse the degree of academic digitalization, trying to identify the main changes in teaching methods introduced because of the COVID-19 pandemic, underlining those that could also be effective in the ‘new normal’. We developed an explorative survey for professors of Italian universities, analysed by means of PLS-SEM techniques. 286 out of 877 identified academics took part in the survey (i.e., 32.61% of the total population). Due to the nature of the results gathered, we proposed a two-level analysis. First, we implemented a syntactic analysis on the open and closed questions to emphasize the impacts that the pandemic had on instructors and academia as a whole. Second, by implementing SmartPLS procedures, we analysed in depth the quantitative data gathered. Among the main findings of our study, we observed that digitalization and distance-learning played a secondary role in influencing the organization of educational programs compared with the learning experience and its primary role in defining student performance. In short, this study represents one of the very first attempts to analyse the adoption of new teaching practices following an anomalous disruption to our daily lives (i.e., the COVID-19 pandemic). It highlights the need to shift towards active learning approaches in higher education, even within a blended-learning or distance-learning environment, emphasizing a student-centred teaching method and its experientialism. This should lead – from a managerial point of view of academia – to a lower ‘churn rate’ and – from an educational standpoint for policy-makers – to a decrease in dropouts due to lack of interest and a poor learning experience.
  • Accounting for ‘ESG’ under Disruptions: A Systematic Literature Network Analysis
    Maurizio Comoli, Patrizia Tettamanzi, Michael Murgolo
    Sustainability Switzerland, 2023
    Corporations and small/medium enterprises (SMEs) are subject to a variety of external and internal pressures that often lead to changes in their corporate governance structures and accounting/reporting systems. The environment in which these organizations are collocated has undergone a deep process of change, due to the COVID-19 pandemic, climate change, the blockchain, and the energy industry crisis. Business activities represent a critical and a vital component of human existence across the globe—one that is not restricted to a financial standpoint—and their impact on societal, environmental and animal conditions is now undisputed. However, these activities are frequently coupled with allegations of their being the actual causes of those disruptions and collapses that persist in escaping the scrutiny of international governments. For the effective delivery of sustainable business activities, the concepts of governance and accountability are crucial, and the future of the inhabitants of planet Earth is arguably dependent on the ability of corporations (through their entire value chain) to govern themselves well and to demonstrate accountability to their many stakeholders. This should be achieved through the adoption of good governance standards which are well accepted, and that are globally harmonised with ‘Environmental, Social and Governance’ (ESG) reporting tools that are able to strategically assess and evaluate risk exposure and provide forward-looking information. In this critical context, few studies have actually examined these issues thoroughly, and, because the findings of those studies have been contradictory, there is still no definitive understanding of the causes of weak accounting and reporting tools for ESG dynamics under conditions of disruption. A systematic literature network analysis (SLNA) is used in this study to examine the evolution of the ESG reporting research domain based on existing relationships (e.g., aggregation, cross-citations and isolation) among authors contributing to the field. The findings demonstrate the current state of the art, disclosing interesting and timely future research directions. Furthermore, this study employs a novel approach known as SLNA to conduct the analyses, confirming its efficacy as a tool for dynamic analysis also within the field of sustainability accounting research.
  • Sustainability and Financial Accounting: a Critical Review on the ESG Dynamics
    Patrizia Tettamanzi, Giorgio Venturini, Michael Murgolo
    Environmental Science and Pollution Research, 2022

RECENT SCHOLAR PUBLICATIONS

  • How Ethical Behavior Is Considered in Different Contexts: A Bibliometric Analysis of Global Research Trends
    P Tettamanzi, DT Minh, M Comoli, K Mouloudj, M Murgolo, MDT Hien
    Administrative Sciences 14 (9), 1-38 , 2024
    2024
    Citations: 6
  • ESG Dynamics and Digitalization: The Strategic Role of Impact Accounting and Sustainability Reporting for an Effective Twin Transition
    M Murgolo
    LIUC - Cattaneo University , 2023
    2023
  • Accounting, ESG Dynamics and the Pandemic: When the Quality of Disclosure becomes Crucial to Sustainable Success
    M Murgolo, P Tettamanzi, V Minutiello
    Corporate Governance: The International Journal of Business in Society , 2023
    2023
    Citations: 5
  • Cyber Security and Risk Disclosure: A Literature Review for Theory and Practice
    LG Schaffner, P Tettamanzi, M Murgolo
    2023
    Citations: 2
  • The Quest for Sustainable Sports Management: Evidence from the Football Industry
    P Tettamanzi, F Grazioli, M Murgolo
    Sport, Business and Management: An International Journal , 2023
    2023
    Citations: 30
  • Non-Financial Disclosure and Sustainability Regulation: Voluntary or Mandatory Effectiveness
    M Comoli, P Tettamanzi, F Bavagnoli, M Murgolo
    Sustainable Performance in Business Organisations and Institutions … , 2023
    2023
  • The European Union (EU) Green Taxonomy: Codifying Sustainability to Provide Certainty to the Markets
    P Tettamanzi, R Gotti Tedeschi, M Murgolo
    Environment, Development & Sustainability , 2023
    2023
    Citations: 61
  • Accounting Education and Digitalization: A New Perspective After the Pandemic
    P Tettamanzi, V Minutiello, M Murgolo
    The International Journal of Management Education , 2023
    2023
    Citations: 76
  • Accounting for ‘ESG’ under Disruptions: A Systematic Literature Network Analysis
    M Comoli, P Tettamanzi, M Murgolo
    Sustainability 15 , 2023
    2023
    Citations: 57
  • Sustainability and Financial Accounting: a Critical Review on the ESG Dynamics
    P Tettamanzi, G Venturini, M Murgolo
    Environmental Science and Pollution Research, 1-4 , 2022
    2022
    Citations: 161

MOST CITED SCHOLAR PUBLICATIONS

  • Sustainability and Financial Accounting: a Critical Review on the ESG Dynamics
    P Tettamanzi, G Venturini, M Murgolo
    Environmental Science and Pollution Research, 1-4 , 2022
    2022
    Citations: 161
  • Accounting Education and Digitalization: A New Perspective After the Pandemic
    P Tettamanzi, V Minutiello, M Murgolo
    The International Journal of Management Education , 2023
    2023
    Citations: 76
  • The European Union (EU) Green Taxonomy: Codifying Sustainability to Provide Certainty to the Markets
    P Tettamanzi, R Gotti Tedeschi, M Murgolo
    Environment, Development & Sustainability , 2023
    2023
    Citations: 61
  • Accounting for ‘ESG’ under Disruptions: A Systematic Literature Network Analysis
    M Comoli, P Tettamanzi, M Murgolo
    Sustainability 15 , 2023
    2023
    Citations: 57
  • The Quest for Sustainable Sports Management: Evidence from the Football Industry
    P Tettamanzi, F Grazioli, M Murgolo
    Sport, Business and Management: An International Journal , 2023
    2023
    Citations: 30
  • How Ethical Behavior Is Considered in Different Contexts: A Bibliometric Analysis of Global Research Trends
    P Tettamanzi, DT Minh, M Comoli, K Mouloudj, M Murgolo, MDT Hien
    Administrative Sciences 14 (9), 1-38 , 2024
    2024
    Citations: 6
  • Accounting, ESG Dynamics and the Pandemic: When the Quality of Disclosure becomes Crucial to Sustainable Success
    M Murgolo, P Tettamanzi, V Minutiello
    Corporate Governance: The International Journal of Business in Society , 2023
    2023
    Citations: 5
  • Cyber Security and Risk Disclosure: A Literature Review for Theory and Practice
    LG Schaffner, P Tettamanzi, M Murgolo
    2023
    Citations: 2
  • ESG Dynamics and Digitalization: The Strategic Role of Impact Accounting and Sustainability Reporting for an Effective Twin Transition
    M Murgolo
    LIUC - Cattaneo University , 2023
    2023
  • Non-Financial Disclosure and Sustainability Regulation: Voluntary or Mandatory Effectiveness
    M Comoli, P Tettamanzi, F Bavagnoli, M Murgolo
    Sustainable Performance in Business Organisations and Institutions … , 2023
    2023