In the Italian legal system, the concept of "business group" is not defined. As a consequence, it could be difficult to define boundaries of the business groups; this absence may cause serious complications in the definition of the responsibilities linked to the economic choices realized by the enterprises of the group. Minority shareholders who would be mostly likely to be damaged by this. In this respect, also in Italy specific rules were introduced to manage the corporate governance of the enterprises. The aim of the present paper is in particular to analyze the quality of disclosure regarding corporate governance in a sample of Italian listed companies and in particular the improvement in disclosure regarding the structure of economic groups brought about the rules regarding "management and control activity".
Keywords: Corporate governance, shareholder’s structure, disclosure, business groups, consolidated financial statement, institutional interests
Anna Maria Fellegara, Veronica Tibiletti, Pier Luigi Marchini, Corporate governance, information and control in business groups. A study in the italian context in "FINANCIAL REPORTING" 1/2011, pp. 9-35, DOI:10.3280/FR2011-001002