Over 86% of listed companies on the electronic stock market (MTA) of Piazza Affari it is little or not at all contestable. Of the total 231 companies, in fact, 177 (76,6%) are controlled by a single shareholder, while 22 (9,5%) by multiple shareholders adhering to a shareholders' agreement. The data, relating to the end of 2017, are contained in the 2018 Consob report on the "Corporate governance of Italian listed companies".
The analysis also shows that the average stake held by the main shareholder is 47,7%, higher than the 2010 value, equal to 46,2%, while the market has an average share of 40% of the capital. In line with past evidence, the prevailing model of control continues to be the familiar one, present in 145 companies (66%). The State is the reference shareholder in 23 large companies, representing 34% of market capitalization.
For the female presence on the boards of listed companies, the Consob report states that in June 2018 it reached 36% of the total administrative positions and 38% of the positions of member of the control bodies. These appear to be low figures, but in reality in both cases they are historical highs, achieved thanks to the application of the Golfo-Mosca law (law 120/2011).
While the share of self-qualified women (72% in mid-2018 compared to 69% in the previous two years), the number of cases in which a woman holds the position of chief executive officer is slightly reduced (14 from the 17 recorded in June 2017). The presence of women on the board is more pronounced in large companies and in the service sector.
Regardless of genre, the average age of directors is around 57 years old, with the older directors of the Ftse Mib companies and the financial sector and the younger ones in the smaller companies and in those operating in the services sector. Nearly 90% of administrators are university graduates, while around a quarter have a postgraduate degree. The prevailing professional background is that of managers (about 70%), followed by the consultant/professional profile (about 20%) and academics (about 9%).
The presence of foreign remains low, reaching its maximum value in large companies (over 10%) and its minimum in the financial sector (less than 5%).
