Key Factors in Delisting Process in Italy: Empirical Evidence

We investigated the characteristics and motives ofItalian voluntary delisting observing a period of eleven years,2001 to 2011. The final sample is made up of 53 industrialcompanies, compared with a control sample of 106 companiesstill listed in the period. Main goal is to assess if any signals canpredict a delisting operation for listed companies in Italy and ifItalian market shows differences with previous investigation inContinental Europe and US.Practical implications of results achieved can help to highlighton Public to Private phenomenon in Italy, still not enoughobserved considering the high number of delisted companies inthe last decade relating to a relative small number of listedcompanie