State ownership pyramidal groups, family trust and a minor role for banks and other financial
institutions in the corporate governance of both large and small enterprises are the structural …

This chapter analyzes the relationship of Fiat and the Agnelli family. It shows that the cycle"
Giovanni Agnelli-Romiti-John Elkan" tends to repeat the earlier cycle" Giovanni Agnelli …

The first part of this paper provides an historical perspective on the evolution of the Italian
system of corporate governance from the late nineteenth century to the present. It shows the …

Drawing on recent theories of control allocation and on the results of a farsearching
empirical research project, Italian corporate governance is analyzed and interpreted. With …

PYRAMIDAL GROUPS AND THE SEPARATION BETWEEN OWNERSHIP AND CONTROL IN
ITALY Page 1 PYRAMIDAL GROUPS AND THE SEPARATION BETWEEN OWNERSHIP AND …

The paper first considers a number of theoretical aspects surrounding the ambiguity of the
legal framework defining the modern corporation and the two-way relation between …

This article addresses the issue of how to explain institutional change in national political
economies. Within an actor-centred institutionalist theoretical framework, it explores the …

Recent contributions show that the Italian corporate governance regime exhibits low legal
protection for investors and poor legal enforcement (La Porta et al. 1998), underdeveloped …

Over the 150 years since its unification in 1861, Italy almost caught up with the most
advanced economies, becoming a relevant actor in the international economy. 1 Such a …

Between 1990 and 2005 the Italian legal and economic framework relating to financial
markets experienced major developments (a new Banking Law was passed, institutional …