TY - JOUR
T1 - Corporate control: Persistence and the shifting role of control-enhancing mechanisms in Italian listed firms (1978–2018)
AU - Rigamonti, Silvia
PY - 2025
Y1 - 2025
N2 - This paper analyses the evolution of ownership and control of non-financial listed firms in Italy from 1978 to\r\n2018. Corporate control is persistent in the Italian stock market, and this is a constant trait across time periods.\r\nInstead, ownership has changed over time. The use of control-enhancing mechanisms and, relatedly, the wedge\r\nhas followed an irregular path. Legal and market conditions significantly influence how controlling shareholders\r\nstructure their ownership and control over time. Family capitalism remains pervasive.
AB - This paper analyses the evolution of ownership and control of non-financial listed firms in Italy from 1978 to\r\n2018. Corporate control is persistent in the Italian stock market, and this is a constant trait across time periods.\r\nInstead, ownership has changed over time. The use of control-enhancing mechanisms and, relatedly, the wedge\r\nhas followed an irregular path. Legal and market conditions significantly influence how controlling shareholders\r\nstructure their ownership and control over time. Family capitalism remains pervasive.
KW - Control-enhancing mechanisms
KW - Corporate control
KW - Loyalty shares. Family firms
KW - Ownership
KW - Pyramids. Dual-class shares
KW - Control-enhancing mechanisms
KW - Corporate control
KW - Loyalty shares. Family firms
KW - Ownership
KW - Pyramids. Dual-class shares
UR - https://publicatt.unicatt.it/handle/10807/309342
UR - https://www.scopus.com/inward/citedby.uri?partnerID=HzOxMe3b&scp=105000428167&origin=inward
UR - https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=105000428167&origin=inward
U2 - 10.1016/j.irle.2025.106260
DO - 10.1016/j.irle.2025.106260
M3 - Article
SN - 0144-8188
VL - 82
SP - N/A-N/A
JO - International Review of Law and Economics
JF - International Review of Law and Economics
IS - N/A
ER -