Corporate governance in Italy

The significant interest generated over the last few years by the area of corporate governance in Italy, has led to the need for a more appropriate and exhaustive definition of the concept of control governance, which represents the true basis of corporate governance. The best way to institutionalise corporate governance and to make corporate conduct - based on appropriate internal and external regulations - a fundamental part of business culture, is to analyse together the system of corporate governance and the system of corporate social responsibilities.Corporate governance in Italy is structured and modelled according to particular aspects of some specific issues, given the influence of various economic phenomena on different business types and given the fact that the large presence of small enterprises and the particular type of control in large enterprises has produced a system in which the corporate governance problem was self solved by the system without any important law on the issue. Corporate Governance is based on the assumption that a company must be managed respecting the interests of shareholders and other stakeholders and, therefore, there must be an independent board of directors in a position to strategically control company operations and ensure that business is carried out transparently, efficiently and fully in line with strategic objectives and relevant legal requirements.