Italian Corporate Governance: One American’s Perspective

Abstract

In recent years, the topic of corporate governance has received a tremendous amount of attention in Italy. In 1992, the Bank of Italy began a major research project, the goal of which was to analyze the extent of the corporate governance problems facing Italian companies, both large and small. Following completion of that project, the Bank of Italy has continued to place the topic of corporate governance high on its research agenda. Corporate governance is also frequently the subject of articles in the popular press, a trend that may have reached a high point in connection with the recent problems at Olivetti, the Ivrean information systems giant. Perhaps most importantly, the Italian Parliament is also studying corporate governance reform, and its work will undoubtedly be influenced by the work of the Bank of Italy, a highly prestigious and largely independent Italian institution.