Introduction

This chapter introduces the book by highlighting the historical significance and evolving perspectives of conservatism in accounting. After discussing the roots of conservatism and the resurgence of interest by the end of the twentieth century, the chapter sets the stage for the book's exploration of theoretical constructs and empirical models used to study conservatism, emphasizing the importance of understanding its implications in different market contexts, particularly in Italy. The chapter also outlines the book's structure, detailing the focus on conservatism's impact on the Italian stock market, especially during the Covid-19 crisis and the subsequent recovery period.