The possibility to choose between two alternative corporate governance systems (i. e. one-tier and two-tier board) was introduced in Italy by the Corporate Law Reform at the beginning of 2004. This reform, which provides for the adoption of a one- or a two-tier board for both listed and unlisted...

The possibility to choose between two alternative corporate governance systems (i. e. one-tier and two-tier board) was introduced in Italy by the Corporate Law Reform at the beginning of 2004. This reform, which provides for the adoption of a one- or a two-tier board for both listed and unlisted...

This paper investigates the relationship between corporate governance quality and the cost of equity capital, intended as the discount rate the market applies to a firm’s expected future cash flows to evaluate the current share price. Using data from the Italian listed corporations in 2018,...