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Article

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Accepted version

Publication date

2015-06

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Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/106362

Detection Model of Legally Registered Mafia Firms in Italy

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https://doi.org/10.1111/emre.12039

Abstract

This paper develops a model that can contribute to the detection of legally registered firms defined as Mafia firms (LMFs) due to having been confiscated by judicial authorities, in relation to alleged connections of their owners with Italian organized crime. The model correctly classifies 76.41% of firms within a matched sample of 852 firm-years including LMFs and lawful firms. Furthermore, we present an analysis of financial statement characteristics of singular private firms which are socially irresponsible by nature and whose incentives, modus operandi and legal financial statement formats differ from those of listed companies. In particular, we show that specific accruals and earnings management proxies may provide more insight into accounting manipulation patterns of LMFs. More importantly, our paper can help practitioners and regulators identify accounting signals that can be used in risk assessment models or in the detection of criminal infiltrations and related illicit practices.

Subject

Empreses, Delictes econòmics, Màfia, Responsabilitat social de l'empresa, Itàlia

Subject (English)

Business enterprises, Commercial crimes, Mafia, Social responsability of business, Italy

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Articles publicats en revistes (Empresa)

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RAVENDA, Diego, ARGILÉS BOSCH, Josep M. and VALENCIA SILVA, Maika. Detection Model of Legally Registered Mafia Firms in Italy. European Management Review. 2015. Vol. 12, num. 1, pags. 23-39. ISSN 1740-4754. [consulted: 18 of August of 2026]. Available at: https://hdl.handle.net/2445/106362

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