This paper contributes towards the investigation of the dynamism of corporate governance of Italian small and medium enterprises in the light of the growing role of private equity funds. Results of a survey, conducted on companies acquired by financial investors during a defined time window, suggest the key role of institutional investors in governance procedures of Italian small enterprises. When the investors enter the equity structure of a company, they play an active and valuable monitoring role that safeguards companies against the risk that the interests of ownership will prevail over their own. To guide possible research follow-up in this field, we discuss the most interesting results of the analysis and develop some considerations on the main issues that could be approached in any following studies.

The role of institutional investors on the governance of SMEs: evidence from an Italian perspective

Emanuele Teti;
2013

Abstract

This paper contributes towards the investigation of the dynamism of corporate governance of Italian small and medium enterprises in the light of the growing role of private equity funds. Results of a survey, conducted on companies acquired by financial investors during a defined time window, suggest the key role of institutional investors in governance procedures of Italian small enterprises. When the investors enter the equity structure of a company, they play an active and valuable monitoring role that safeguards companies against the risk that the interests of ownership will prevail over their own. To guide possible research follow-up in this field, we discuss the most interesting results of the analysis and develop some considerations on the main issues that could be approached in any following studies.
Teti, Emanuele; Perrini, Francesco
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11568/986973
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