LA GOVERNANCE DI UNA GRANDE IMPRESA: PIRELLI 1872-1972

Since the analysis conducted in 1999 from La Porta, Lopez de Sinales, Shleifer on Corporate Governance Around the World, numerous studies have been focused on ownership structure patterns tipical of different countries. These studies show that in several economies, for example in continental Europe, concentrated ownership structures are prevalent, an evidence that is in contrast with 1932 Berle and Means’s statement that a widely held ownership structure, tipical of the american corporation, is the most appropriate one to the modern firm development. As a consequence of these results, recent studies have thus been based on possible relationship between corporate governance, firm strategy and its performance, investigating whether and how these issues are influenced each by other. The research is focused on a case study - the case of Pirelli, one of the biggest and most long-lived italian firm - and documents the evolution of its ownership and control structure over time, investigating these issues in relation to firm strategy and performance.