Measuring people management and shareholder value creation relationship. An empirical approach from italian firms

Italian companies reality is characterized by the presence of many small and medium size firms and some large organizations facing new challenges to improve financial results. In later years being an Italian market player is not so easy - even if large and with a considerable production capacity – because market conditions not always allow to sustain long term competitive advantages. Moreover, are progressively considered and shared the shareholder value theory and also the thesis supporting the relationship between employee development and responsibility, productivity improvement, employees commitment and financial performances. So this can confirm that leadership development practices need to be integrated in workplaces to take real advantages as a major productivity creation and, in consequence, a major shareholder value creation (Rappaport, 2006). So we'll analyse in detail the level and the intensity of relationship between human capital and the dynamic of shareholder value creation and the research results adopted on the Italian stock market companies.