By Roberto Ruozi, Luisa Anderloni
Banking privatisation represents one of many significant forces that are considerably altering the banking zone in Europe. learning the method of banking privatisation therefore is helping to appreciate the dynamics of the field. This booklet analyses - from the point of view of either advertisement banking and funding banking - a number of the techniques of banking privatisation in Europe and their results at the concepts and constructions of banks. In its theoretical half, the publication considers technical and fiscal elements of banking privatisation from Spain, France, Italy, Norway, Germany, and Russia. An quintessential examining for funding bankers, regulators in addition to policy-makers chargeable for the lifestyles of effective and sturdy banking systems.
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Additional resources for Banking Privatisation in Europe: The Process and the Consequences on Strategies and Organisational Structures
The joint-stock company or the limited company is universally recognised as the best legal form in order to reach the objectives to maximise corporate worth and in general to reach a more efficient and effective running of the production activity under market forces. In spite of the homogeneous result, we register great differences in how and how long it took for the privatisation processes to be carried out in different environments. Among others, the differences in the approaches used by the countries examined depend on the degree of involvement of the State into the economy, which is a consequence of their history, culture and economic condition.
This is explained by the complexity of the German historical-political-cultural context. An example of how the public system was shaped by post war problems is seen in the difficulty of assigning ownership of pre-exiting companies, as well as the problems of the relationships between the Lander and the Federation, and between Lander and councils regarding the management of public enterprises. It should be noted that in Germany not only are there many disagreements among experts about the legal definition of a public enterprise, but indeed there is no single status for a public enterprise from the legal, management, financial-political, or administrative points of view.
In the formal privatisation process, legislators must, in addition to adopting the most suitable form for company and the disposal, lay the basis for an adequate corporate governance. The authorities have numerous means at their disposal75 for this. The most important, since they are the most commonly used in the different economic systems, are the fixing of limits to capital shareholdings and the issue of a golden share. It is held, in fact, that the fixing of shareholding limits is a deterrent to the creation of controlling groups that could be created either both during disposal or subsequently to the detriment of small investors.