Key Factors in Delisting Process in Italy: Empirical Evidence

Abstract

We investigated the characteristics and motives of
Italian voluntary delisting observing a period of eleven years,
2001 to 2011. The final sample is made up of 53 industrial
companies, compared with a control sample of 106 companies
still listed in the period. Main goal is to assess if any signals can
predict a delisting operation for listed companies in Italy and if
Italian market shows differences with previous investigation in
Continental Europe and US.
Practical implications of results achieved can help to highlight
on Public to Private phenomenon in Italy, still not enough
observed considering the high number of delisted companies in
the last decade relating to a relative small number of listed
companies