Carlo Emanuele Pupo

Value and equality of multiple voting shares

  • Abstract

Informations and abstract

Keywords: Voting Rights; Not-Voting Shares; Multiple-Voting Shares; Loyalty Shares.

The Italian legislature has introduced, in 2014, both multiple-voting shares and loyalty shares. In the paper i focus on beneficial and detrimental features of the two legal institutes, which have been incorporated into an overall framework that also knows other tools to enhance control, such as not-voting shares and pyramidal groups. The essay also pays close attention to foreign legal systems and to the reasons that convince shareholders to create a position of control within the corporation and to prevent the transfer of control.

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