The book focuses on governance issues, through the lens of political connections in corporate Europe. Sustainability in corporate contexts increasingly hinges on the quality of governance-the "G" in ESG-which serves as the backbone for how firms integrate environmental ("E"), social ("S"), and economic sustainability objectives into their strategies and operations. Effective governance frameworks are essential not only for ensuring compliance and accountability, but also for aligning long-term value creation with broader societal and environmental goals. Political connections are a key factor influencing governance structures and decision-making processes, shaping how firms address challenges such as climate risk, social equity, and responsible resource use. These connections can also provide firms with preferential access to credit markets, easing financial constraints that would otherwise hinder investment in sustainable initiatives.

Spanning the period from the fall of the Berlin Wall to the European sovereign debt crisis, this first of two volumes offers a systematic and comparative analysis of political connections across four major economies: Italy, France, Germany, and the United Kingdom. Each chapter investigates the evolving nature of political ties, their impact on corporate behavior, and their implications for firm performance and value creation. Combining theoretical discussion with empirical evidence, the book develops a comprehensive framework for understanding how political connections operate as a distinct feature of corporate governance. It offers valuable insights for scholars, policymakers, and practitioners interested in corporate sustainability, political economy, and institutional governance in Europe.

Autorentext

Carlo Bellavite Pellegrini **is Full Professor of Banking and Finance, Catholic University of the Sacred Heart, Milan in the Department of Economic Policy. His main research interests include banking and finance, corporate governance, ESG and sustainability, law and finance, law and economics, microfinance issues, corporate finance, and corporate histories of banks and industrial corporations.

Laura Pellegrini is Associate Professor of Financial Intermediaries in the Department of Management at the University of Bergamo, Italy, where she teaches Investments, Sustainable Finance, and Financial Markets and Instruments. Her main research interests include corporate governance and corporate finance, ESG and sustainable finance, political connections, systemic risk, and the stability and efficiency of financial intermediaries.

Andrea Roncella is Assistant Professor of Corporate Finance at the Catholic University of Sacred Heart, Milan. His research focuses on corporate finance, corporate governance, sustainable finance, business ethics and business and society.