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Institutional Change and Ownership Patterns in Italy

In: Shareholder Empowerment

Author

Listed:
  • Alessandro Zattoni
  • Francesca Cuomo

Abstract

Dominant legal (La Porta, Lopez-de-Silanes, Shleifer, & Vishny, 1997, 1998, 2000) and political (Roe, 2003) views of corporate governance systems suggest that such institutional changes as regulatory reforms and privatization processes can break down the institutions of stable shareholding. So the partial stability of ownership patterns in Italy during the last two decades, despite a large increase in investors’ rights and the privatization of a number of state-owned firms, seems to be an “unambiguous disconfirmation of existing theories” (Culpepper, 2007: 799).

Suggested Citation

  • Alessandro Zattoni & Francesca Cuomo, 2015. "Institutional Change and Ownership Patterns in Italy," Palgrave Macmillan Books, in: Maria Goranova & Lori Verstegen Ryan (ed.), Shareholder Empowerment, chapter 0, pages 267-296, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37393-9_12
    DOI: 10.1057/9781137373939_12
    as

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