Institutional Change and Ownership Patterns in Italy

Zattoni, A. and Cuomo, Francesca (2015) Institutional Change and Ownership Patterns in Italy. In: Shareholder Empowerment. Palgrave Macmillan. ISBN 9781137376442

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Abstract

Literature indicates that institutional changes in corporate governance systems can lead to a radical transformation of the ownership structure. Starting from this premise, in this chapter we explore the Italian case as the large increase of investors’ rights and the massive privatizations experienced in the last two decades did not seem to affect significantly the stability of the ownership structure of large listed companies. The chapter shows that while concentrated and family ownership remained relatively stable, the large privatization process and the increase in investors’ rights contributed respectively to decrease state ownership, the use of control enhancing mechanisms and the separation between ownership and control rights. The evidence collected shows that the study of ownership structures is still very intriguing and open to several interpretations.

Item Type: Book Section
Faculty \ School: Faculty of Social Sciences > Norwich Business School
University of East Anglia > Faculty of Social Sciences > Research Groups > Accounting, Finance and Governance
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Depositing User: Pure Connector
Date Deposited: 23 Jan 2015 14:36
Last Modified: 09 Aug 2018 10:30
URI: https://ueaeprints.uea.ac.uk/id/eprint/50557
DOI:

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