“Accademia Italiana di Economia Aziendale”
[Italian Academy of Business Administration and Management]

Article 1: Constitution and registered office
The Accademia Italiana di Economia Aziendale was founded in Bologna on July 11, 1813 as the Accademia dei Logismofili. In 1824 it became the Accademia dei Ragionieri, recognised by the Authorities at that time by the Act dated 24 December 1828. It was then changed into a legal entity by the Royal Act n. MMCCLX dated 17 October 1869. Following the Royal Act n. 88 dated 7 January 1906, it was known as the Regia Accademia dei Ragionieri. Subsequently, according to the Act n. 810 dated 10 May 1968, it was named Accademia Nazionale di Ragioneria and lastly, according to Presidential Act n. 41 dated 29 January 1980, it became the Accademia Italiana di Economia Aziendale. The Association’s registered office is in Bologna.

Article 2: Purpose
The purpose of the Association is to study and teach, but also to foster advancement in and spread of management studies. It strives to carry out initiatives that will allow the achievement of the aforementioned purposes, including those involving the support of training, research and educational activities addressed to young scholars. The focus is on institutional university activities, as well liaising with the competent bodies in order to express its opinions on the organization of management studies and on any legislative proposals or public regulations concerning the teaching of management subjects.

Article 3: Internationalization
The Association may establish relations with foreign institutions operating in the same area of interest.

Article 4: Sections
In order to encourage management studies, thus fostering improvements in core problem areas, the Association’s activities shall be split into sections.
The sections may encompass consolidated study areas, while promoting new fields of investigation and approaches. In setting up the sections, the Executive Committee shall favour initiatives focused on developing innovative theoretical expertise backed by empirical verifications.
Each section shall be headed by a Coordinator, who shall be appointed by the Executive Committee of AIDEA. He/she need not necessarily be a member of the Committee.

Article 5: Types of members
Honorary, Ordinary and Corresponding Members may be members of the Association, as well as organizations, companies, institutions and associations whose admission has been approved by the Executive Committee, following a proposal by the Members.

Article 6: Assets
The Association’s assets shall include shares listed in regulated markets, as well as mutual funds – also through asset management – bank deposits and post office accounts, furniture and its library.
The assets may be increased due to possible surpluses in individual accounting periods and they may include assets and securities which are different from those mentioned in the above paragraph as they may take the form of contributions in kind, bequests and donations by entities and private individuals.

Article 7: Revenues
The Association’s revenues shall comprise income from assets and annual subscriptions paid by the Ordinary and Corresponding Members, contributions from Supporting Members, as well as any other public or private contributions granted to the Association for carrying out its corporate purposes.

Article 8:  Members
The Members of the Association may be Honorary Fellows, Ordinary Members or Corresponding Members.
Honorary Members shall be chosen among individuals who have achieved special merit within the objectives of the Association. The total number of such Members may not exceed thirty (30).
Ordinary Members shall be chosen among academics, entrepreneurs, managers and professionals who have contributed significantly to the growth of Business Administration and Management studies.
The number of Ordinary Members who are non-academics may not exceed 10% of the total number of Ordinary Members.
Corresponding Members shall be chosen among members and professionals who have shown real interest in Business Administration and Management studies.

Article  9 Supporting members
In order to improve interaction with the science, research and manufacturing sectors, entities, companies, institutions and associations that wish to contribute by providing ideas and resources to help promote and achieve the social purposes may be admitted into the Association as Supporting Members.

Article 10: Internationally renowned foreign academics
Internationally renowned academics from other countries may be appointed as supernumerary Honorary Members.

Article 11: Proposal for the appointment of members
In order to be admitted into the Association as an Ordinary Member and as a Corresponding Member, the interested party must submit a written application, together with a brief “curriculum vitae”, and be proposed for admission by at least one Ordinary Member.
The application must be addressed to the Executive Committee, which shall conduct the appropriate investigations in order to reach its own conclusions. The Assembly shall in no way be obliged to agree with the Committee’s judgment.
For the appointment of a Supporting Member, a written proposal submitted by at least five Ordinary Members, together with an application for admission signed by the legal representative of the interested entity, company, institution or association, shall be required.

Article 12: Resolution on appointments
The Executive Committee shall draw up a proposal requesting the admission of a new Member into the Association, which shall then be presented to the Assembly. The nominee shall be proposed to the Assembly and he/she shall be admitted into the Association if at least seven Executive Committee Members vote in favour of the admission.
The proposal for the admission of an Honorary Member shall be resolved upon unanimously by the Executive Committee.

Article 13: Admission of new members
As a token of admission among the Members and Supporting Members of the Association, the new member shall be given the Association’s gold badge.

Article 14: Service fees and annual subscriptions
Upon admission into the Association, Ordinary Members and Corresponding Members shall pay a service fee and they shall contribute to paying the Association’s expenses through the payment of an annual subscription.
The service fees and the annual subscription fee shall be determined by the Executive Committee. The Honorary Members and the internationally renowned foreign academics shall not be liable to pay these fees.
Supporting Members shall pay a contribution, in money, in kind or as work, upon their admission into the Association, and they shall contribute annually to fund its initiatives in accordance with the guidelines drawn up by the Executive Committee.

Article 15: Termination of membership
Members may cease to form part of the Association for reasons of resignation, default, or unworthiness. The exclusion from the Association of a Member for reasons of unworthiness shall be resolved on by the Assembly, upon recommendation by the Executive Committee.

Article 16: Governing bodies of the Association
The governing bodies of the Association shall be:

  • the Assembly of Members;
  • the Executive Committee;
  • the Auditing Committee;
  • the President;
  • the Board of Arbiters, only in the event of decisions concerning disputes within the Association referring to the application of the Statute.

Article 17: Assembly of members
The Assembly shall be composed of Ordinary and Honorary Members.
It shall be convened by the President on his/her initiative, or in accordance with the resolutions passed by the Executive Committee or, if requested, by at least one-tenth of the Ordinary and Honorary Members.
The Corresponding Members and Supporting Members may also participate in the Assemblies and they shall be entitled to express an advisory opinion, but they shall not be entitled to vote.
Before each Assembly, the Supporting Members shall specify, by means of a registered letter addressed to the President of the Association, the name of the person who shall represent them at the meeting.
The Assembly, upon a resolution passed by the Executive Committee, may be extended to the public. These meetings shall generally focus on lectures, scientific discussions and commemorations.
The Assembly shall:

  • according to a secret ballot, appoint the Executive Committee and Auditors;
  • pass resolutions regarding the admission and exclusion of Members for reasons of unworthiness;
  • approve the final financial statements and the budget and pass resolutions on the preliminary programmes submitted to it by the Executive Committee and on other business items included in the agenda;
  • pass resolutions on possible amendments to the Statute.

The notice convening an Assembly, which must be sent to Members by electronic mail or registered mail, if the email address has not been notified to the Secretariat, no later than eight days before the date of the meeting, except as provided for by the following article 19, must contain the meeting agenda.

Article 18: Representation and validity of the constitution of the Assembly
Members who have voting rights may be represented at the Assembly by giving a written proxy to other Members having voting rights and who are not Members of the Executive Committee.
Each Member may not be given more than ten proxies.
The Assembly shall be regularly constituted if at least more than half the number of Ordinary Members having voting rights plus one shall be present personally or through proxies given to other Members. However, at second calling, whatever the number of votes represented by those attending, the assembly shall be considered validly constituted.
The resolutions shall be passed, both in first and second call, by absolute majority, except for the provisions of article 19.

Article 19:  Amendments to the statute
The proposals to amend the Statute, resolved upon by the Executive Committee or presented by at least fifty Members, must be notified in writing to all the Ordinary Members having voting rights, no less than fifteen days before the date fixed for the Assembly which must resolve on the same. In order to amend the Statute, the attendance – both in the first and second call of the Assembly – in person or by proxy of at least half the Members who have voting rights, and a favourable vote of the majority of those in attendance shall be required.

Article 20:   Executive Committee
The Executive Committee shall be composed of eleven members, chosen among the Ordinary Members, who shall be elected by a secret ballot at the Assembly. Ordinary Members, who have been elected as members of the National University Council (CUN in Italian) or National Council for Scientific Research (CNR in Italian), shall also form part of the Committee. Professors of management disciplines, who are not Ordinary Members and who have been elected as members of the CUN or CNR, may be invited to participate in the meetings of the Executive Committee.
The Committee shall appoint a President, two Vice-Presidents, a Secretary and a Treasurer.

Article 21: Term of office of the Executive Committee
The Executive Committee shall remain in office for three years and its tenure may not be renewed more than two consecutive times. If during the three-year term one or more Executive Committee Members should be absent, they shall be replaced by members who, in numerical order, obtained the highest number of votes when the Committee was elected.
However, if the majority of the Members are absent, an Assembly must be called so that it may take the necessary measures to integrate the members. In any event, the term of office of officers who shall be appointed in this manner shall expire at the same time as those who were officially elected to sit on the Committee.

Article 22: Duties of the Executive Committee
The Executive Committee shall take care of the day-to-day operations and management of the Association. In particular, it shall:

  • evaluate the proposals for admitting new Members into the Association and it shall resolve on whether or not to propose to the Assembly the admission or non admission of nominees;
  • decide on whether or not to propose to the Assembly the exclusion of a member for unworthiness;
  • monitor the implementation of the resolutions passed by the Assembly;
  • examine and resolve on the budget for each accounting period, which shall be drawn up by the Treasurer and that shall be submitted to the Assembly for its approval. It shall also approve the report on the financial statements that shall be submitted to the Assembly and communicate the activities carried out by the Association;
  • monitor the investment of the Association’s funds, giving appropriate instructions to the Treasurer;
  • monitor academic publications and the purchase of books, journals and publications in general, giving appropriate instructions to the Secretary;
  • transmit the report on the final financial statements approved by the Assembly to the Ministry for Cultural Heritage and Activities.

In order to carry out its functions, the Executive Committee may use advisory committees composed of members who are not part of the Executive Committee, and it shall establish the regulations for their operation.

Article 23: Local Representatives
In order to establish closer relations with the Association, which could also foster further investigation into specific local issues as well as promote the start-up of autonomous cultural initiatives, Members belonging to the same university may meet and appoint their own Local Representative.
The Local Representatives, besides representing the Association in the university they belong to, shall coordinate all the initiatives to be carried out in their own university and they shall also collaborate with the Executive Committee in order to define and put in place the Association’s “local policy”.
The Local Representatives residing in the same “territory” may coordinate themselves and carry out joint initiatives.

Article 24: Validity of the constitution of the Executive Committee
The Executive Committee shall be validly constituted when at least six Members are present. It may pass resolutions on a majority basis, except as provided for in article 12.
In the event of a split vote, the President shall have the casting vote.

Article 25: Vice-Presidents of the Executive Committee
The Vice-Presidents shall assist the President and replace him/her, in order of seniority in their capacity as Ordinary Members, in case of his/her absence or impediment.

Article 26: Duties of the Vice-Presidents
The Vice-Presidents shall assist the President and replace him/her, in order of seniority, in the event of his/her absence or impediment.

Article  27: Duties of the Secretary The Secretary shall take care of writing meeting minutes, press communiqués and communications to the Association’s publications, as directed by the Executive Committee.

Article 28: Duties of the Treasurer
The Treasurer shall be responsible for receipts and payments by or on behalf of the Association. He/she shall draw up the final financial statements and budget, as directed by the Executive Committee, and shall take care of collecting monies, paying expenses and other payments and conduct the financial and administrative operations of the Association.

Article  29: Auditing Committee
The Auditing Committee shall be composed of three statutory auditors and two alternate auditors, elected by the Assembly among the Ordinary Members. One of the statutory auditors shall be elected by the Assembly itself and shall be appointed as Chairman of the Auditing Committee.
The auditors shall remain in office for three years and their term of office may not be renewed more than two consecutive times.
The auditors shall check the operations and management of the Association. At any time, they may conduct audits, either individually or collectively, after which they must draw up a report that must be attached to the final financial statements and the preliminary budget to be presented to the Assembly for approval.

Article 30: Participation of the Auditors in Executive Committee meetings
The Auditors may participate in Executive Committee Meetings.

Article 31: Budget and final financial statements
The academic and financial years of the Association shall commence on 1 January and terminate on 31 December.
The budget, together with the appropriate report, must be drawn up and submitted to the Assembly for approval before the beginning of the year they refer to.
The final financial statements, together with the appropriate report, must be drawn up and presented to the Assembly for approval within four months from the end of the year they refer to.

Article 32: Inventory
The assets forming part of the Association’s assets must be described and evaluated in an appropriate inventory.

Article 33: Board of Arbiters and dissolution of the Association
In the event of disputes among Association Members concerning the application of certain articles of the Statute, which cannot be settled by the Association’s governing bodies, the Assembly shall appoint a Board of Arbiters (chosen among the Honorary Members) so that the board, by means of voluntary arbitration and not arbitration in a law-court, may settle the disputes.
In the event that it should be decided to wind up the Association, the provisions of the law relating to legally recognised associations in Italy shall be applied.
Should the Association be wound up, the Assembly shall pass a resolution whereby its assets shall be transferred to entities set up and organized for scientific and cultural purposes.
For anything not specifically covered in this Statute, reference should be made to pertinent current law.