Ownership and Control in the Italian Listed Companies
Ownership Concentration and the Role of Dominant Shareholders
Despite the evolution of corporate law and corporate governance, and the consequent increase in the protection of minority shareholders’ rights (see Chapter 2), the ownership structure of Italian listed firms is still highly concentrated, in line with that of other major continental European firms (Zattoni and Mosca 2012). At the end of 2015, the first shareholder owns approximately 47 percent of the ordinary share capital with voting rights of all the companies listed at the Italian Stock Exchange, and this figure is substantially in line with those recorded in the previous five years (see Figure 5.1). Other relevant ...
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