Partecipazione in società di capitali e diritto al disinvestimento

Translated title of the contribution: [Autom. eng. transl.] Equity investment and right to divestment

Research output: Book/ReportBook


[Autom. eng. transl.] The work aims to reconstruct the legal dimension of the divestment profile within the framework of the regulation of corporations. On the basis of the results of a historical-comparative examination that suggests the existence of an evolution in the sense of broadening the corporate mechanisms aimed at allowing the shareholder to disinvest, an examination of the Italian legal order is carried out according to the two fundamental guidelines that emerged from this analysis: the disinvestment from modification and the disinvestment from infringement. On the first side, the examination focuses on the regulation of withdrawal from capital companies introduced in 2003 to show how it aims to offer protection from disinvestment "from modification", not only (and not so much) in the interest of the individual shareholder, but above all in view of the efficient functioning of society. On the second side, once the absence of a discipline directly aimed at offering a protection in terms of disinvestment in the face of "violations" of the company rules (attributable to the majority shareholder) is found, the possibility of accepting an evolutionary interpretation of the withdrawal right is explored that, by exploiting some specific provisions in the field of the regulation of groups of companies, it is also able to recognize this function to the institution.
Translated title of the contribution[Autom. eng. transl.] Equity investment and right to divestment
Original languageItalian
PublisherGiuffrè Editore
Number of pages346
ISBN (Print)88-1415231-4
Publication statusPublished - 2009

Publication series

NameIl diritto della banca e della borsa


  • disinvestimento
  • recesso
  • società di capitali


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