Pyramidal groups, in Italy and elsewhere, represent a model of separation of ownership and control. Pyramids typically have blockholders which extract private benefits of control at the expenses of minority shareholder. This paper focuses on the Italian case where the number of pyramids is...

Secondo Alfred Chandler l'impresa famigliare √ɨ un modello di controllo che via via √ɨ destinato a lasciare posto alla moderna grande impresa manageriale. La persistenza della natura famigliare del capitalismo britannico sarebbe stata una delle cause del declino...

The distinction between profit and non profit firms does not necessarily apply to some cooperative firms, such as the Italian mutual cooperative banks (MCBs). MCBs present a peculiar governance structure, a combination between a public company governance model and a non-profit one. The board of...