7 THE ITALIAN LAW JOURNAL NO. 1 (2021) (In)efficient Cost Allocation in Italian Proxy Contests by Giovanni Niccolò Antichi The research aims to examine the regulatory model adopted in Italy relating to Proxy solicitation. It will be verified whether Proxy solicitation, as actually regulated, adapts to the high level of ownership concentration that characterizes the Italian stock exchange and therefore provides adequate solution for agency’s problems to which these ownership structures give rise. Thus, it will be demonstrated that, in its current formulation, Proxy solicitation in Italy appears poorly suited to guaranteeing an appreciable standard of shareholder democracy, especially for reasons related to financial aspects. DOI 10.23815/2421-2156.ITALJ ISSN 2421-2156
