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

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  • Rigamonti, Silvia

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.

Suggested Citation

  • Rigamonti, Silvia, 2025. "Corporate control: Persistence and the shifting role of control-enhancing mechanisms in Italian listed firms (1978–2018)," International Review of Law and Economics, Elsevier, vol. 82(C).
    • Handle: RePEc:eee:irlaec:v:82:y:2025:i:c:s014481882500016x
    DOI: 10.1016/j.irle.2025.106260
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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