CORPORATE CONVERSION AS A RISK FACTOR FOR THE BUSINESS CRISIS: THE BREDA CASE

In this paper we exploit the setting provided by Breda during the fascist period to investigate the role of the élite in causing a phase of crisis by influencing the business dynamics through hegemony. The paper uses the Gramscian theory of hegemony to show how the élite led Breda to the most severe crisis of its history. The research uses historical documents to show the role the Fascist government had in managing the Breda just to satisfy public interest and not the business’ one. We also show how the management tackled the difficulties of the reconversion process. We contribute to the scientific literature regarding external causes of business failure, identifying Fascist party as an external factor which influenced the performance of the Breda. We also contribute to the literature regarding Gramscian theories in accounting, highlighting as an element of novelty the negative consequences of the application of Gramsci’s hegemony in a corporate context.