Meoli, Michele; Paleari, Stefano; Urga, Giovanni - Dipartimento di Ingegneria Gestionale, Università … - 2008
This paper discusses the use of rights issues when interest conflicts between controlling shareholders and minorities … rights issues are dominant. We report the case of Alitalia’s rights issue in 2005 as a typical example of "enforcement at … work". As rights issues at a high discount often involve an abuse of power by the controlling shareholder, we argue that …