Corporate control: Persistence and the shifting role of control-enhancing mechanisms in Italian listed firms (1978–2018)

Silvia Rigamonti

International Review of Law and Economics, 2025, vol. 82, issue C

Abstract: This paper analyses the evolution of ownership and control of non-financial listed firms in Italy from 1978 to 2018. Corporate control is persistent in the Italian stock market, and this is a constant trait across time periods. Instead, ownership has changed over time. The use of control-enhancing mechanisms and, relatedly, the wedge has followed an irregular path. Legal and market conditions significantly influence how controlling shareholders structure their ownership and control over time. Family capitalism remains pervasive.

Keywords: Corporate control; Ownership; Control-enhancing mechanisms; Pyramids; Dual-class shares; Loyalty shares; Family firms (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S014481882500016X
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:irlaec:v:82:y:2025:i:c:s014481882500016x

DOI: 10.1016/j.irle.2025.106260

Access Statistics for this article

International Review of Law and Economics is currently edited by C. Ott, A. W. Katz and H-B. Schäfer

More articles in International Review of Law and Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().