이탈리아의 기업지배구조 체제와 주식회사 기관구조 현황

The Italian corporate governance system has been strengthened in the last decade to increase transparency in the management of companies and to increase the protection for minority shareholders. Italian law gives all limited companies, including listed corporations, the choice among: traditional structure with the board of directors and the board of statutory auditors based on Italian model; one-tier board structure with a board of directors similar to the Anglo-American model; a two-tier structure with a management board and a supervisory board based on a distinction between management functions and the supervision of this management similar to the German model. This paper examines the corporate governance system and the institutional structure of corporations in Italy. In terms of the ownership structure of a corporation, the Italian corporate governance in which the company is usually governed by a family-oriented shareholder group. This paper also reviews corporate governance reforms in Italy. It provides the historical background of Italian corporate governance and an overview of corporate organizations of the Italian Civil Code. By analyzing comparative review of Italy and Korea, it offers some implications concerning corporate governance improvements in Korea.