The Control of Corporate Europe 2002
DOI: 10.1093/0199257531.003.0006
|View full text |Cite
|
Sign up to set email alerts
|

Pyramidal Groups and the Separation Between Ownership and Control in Italy

Abstract: The Italian corporate governance system features a high concentration of direct ownership, for both listed and unlisted companies. The analysis of direct ownership and of the identity of owners reveals that a major role is played by families, coalitions, the State, and above all by other companies. The largest stake in listed and unlisted companies is held by other non‐financial or holding companies. The amount held by financial institutions is limited. More than 50% of all Italian industrial companies belong … Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
2
1
1
1

Citation Types

5
108
0
2

Year Published

2004
2004
2016
2016

Publication Types

Select...
8

Relationship

0
8

Authors

Journals

citations
Cited by 143 publications
(115 citation statements)
references
References 0 publications
5
108
0
2
Order By: Relevance
“…In Italy, the investigation by Bianchi, Bianco, and Enriques (2001) shows that in 1996 more than 50% of…”
Section: Literature Reviewmentioning
confidence: 99%
“…In Italy, the investigation by Bianchi, Bianco, and Enriques (2001) shows that in 1996 more than 50% of…”
Section: Literature Reviewmentioning
confidence: 99%
“…Becht and Röell (1999) provide a summary of the main findings of this network. For individual country studies see Becht and Böhmer (1999), , Bianchi et al (1999), Bloch and Kremp (1999), Crespí-Cladera and Garcia-Cestona (1999), De Jong et al (1999), Goergen and Renneborg (1999) and Gugler et al (1999).…”
Section: Ownership Structure and Corporate Governancementioning
confidence: 99%
“…3 As already mentioned in the introduction, Italian companies are characterized by a high level of ownership concentration. According to Bianchi et al (1997), in 1992 the largest shareholder of manufacturing companies owned on average approximately 66% of a company and the three largest shareholders owned more than 90%.…”
Section: Institutional Framework and Relevant Issuesmentioning
confidence: 99%
“…On the other hand, even if the pursuit of e¢ciency is a common objective for all types of owners, they might di¤er in the ability to provide e¤ective monitoring and incentive schemes to the top management. 5 5 Another candidate explanation is grounded on the idea that it is performance that a¤ects 5 …”
Section: Institutional Framework and Relevant Issuesmentioning
confidence: 99%