As attention moves rapidly towards comparative approaches, the research and teaching of company law has somehow lagged behind. The overall purpose of this book is therefore to fill a gap in the literature by identifying whether conceptual differences between countries exist. Rather than...

We discuss the simple model pioneered by Barclay and Holderness (1989) and recently re-proposed by Dyck and Zingales (2004) in order to measure the value of control in countries, like Italy, where transfer of control is regulated by law. We demonstrate that it is possible to broaden the...

This study analyzes the effectiveness of the Market Abuse Directive (MAD) in reducing possible profits from insider trading during voluntary tender offers with the purpose of delisting initiated by controlling shareholders. Exploiting the quasi-experimental setting provided by the introduction...

This is a draft chapter for a forthcoming volume, “Cross Border Mergers Directive: EU Perspectives and National Perspectives”, edited by Thomas Papadopoulos (Springer). The chapter first describes how cross-border mergers are regulated in Italy, detailing the national rules implementing the...

This study analyzes the effectiveness of the Market Abuse Directive (MAD) in reducing possible profits from insider trading during voluntary tender offers with the purpose of delisting initiated by controlling shareholders. Exploiting the quasi-experimental setting provided by the introduction...

Acquisition growth is not a common theme in entrepreneurship research. Entrepreneurial growth has traditionally been addressed as organic growth, i.e. as internal expansion through the extension of existing operations and internally induced process and product innovations. We contend that...

The literature has shown that in the short- and medium-term bank mergers and acquisitions (M&As) may generate a temporary reduction in firm credit. Using bank-firm matched data, this paper investigates the impact of M&As involving Italian banks over the period 2009-2019 on credit to firms,...

The economic and monetary unification, the globalization of markets and the increasing use of new Information and Communication Technologies (ICT) have increased the level of competition in all sectors of the economy by opening the way to processes of Mergers and Acquisitions between companies....

The efficient market theory is a central point in finance. If the capital market is competitive, the investors cannot expect superior gains from their investment strategies with respect to the risk profile. Event studies are an approach to verify the impact of the information on the stock...