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This was a a hybrid event hosted by Assonime at Borsa Italiana on 15 September 2022


Part One

Capitalism Revisited

A two day event on Responsible Capitalism

Responsible Enterprise

Italian Conference for Responsible Enterprise

Hosted by Assonime, with the support of

Thursday, 15 September 2022
09:45 – 16:30 CEST

Borsa Italiana, Palazzo Mezzanotte, Piazza Affari 6, Milan

 Programme | Download the Programme




This event was co-organised by Assonime (the association of Italian public companies)the European Corporate Governance Institute (ECGI) and Bocconi University. 

The event brought together senior academics and thought-leaders in business to discuss a range of current topics. It was part of the ECGI initiative on Responsible Capitalism. The event brought together academics and practitioners to discuss purpose and family enterprise from a comparative perspective.

Session 1: Business Purpose and Benefit Corporations

There are divergent views on what the purpose of business is or should be and, while discussions have been in progress for a long time, their intensity and significance are increasing. The reasons for this are that there is growing recognition of mounting problems in relation to the environmental, human, and social impacts of companies but little consensus about their causes and even less about their appropriate remedies. To some, these problems reflect a deficiency of the design and enforcement of traditional tools of antitrust, regulation, and taxation. To others, conventional tools are not adequate, sufficient, or efficient means of dealing with the problems. The session will discuss and contrast these different views.

Session 2: Corporate Control

Institutional investors generally oppose dual class share structures and tenure voting because they make corporate control incontestable. In contrast, control enhancing mechanisms can prevent “amoral drift”; incumbents can pursue socially desirable actions that do not maximise shareholder value without the threat of a hostile takeover or losing board control. Should “pro-social” investors promote the use of dual-class shares? Should institutional shareholders have countervailing powers, like representation on the nominations committee or voting lists?

Session 3: Family Enterprise

Family businesses represent a key driver for supporting the transition toward a sustainable economy as they globally dominate some of the key sectors that have a significant environmental and social impact. Considering their governance features and ownership structure, are family enterprises more oriented to pursue the company's sustainable success in the long run? What governance measures could support and preserve their commitment toward a long-term sustainability of their businesses? A significant part of family enterprises is represented by SMEs: how do they tackle sustainability opportunities and risks and what are the obstacles they encounter along this path?



Main Sponsors


The programme was developed in collaboration with:


Thursday, 15 September 2022 | 09:45 CEST

Session 1 | Chaired by


Margherita Bianchini

Coffee Break


Closing Remarks


Fabrizio Testa


Marco Becht

Professor of Finance and the Goldschmidt Professor of Corporate Governance
Solvay Brussels School for Economics and Management, Université libre de Bruxelles
Fellow, Research Member

Herman Daems

Chairman of the Board
European Corporate Governance Institute

Jennifer G. Hill

Bob Baxt AO Chair in Corporate and Commercial Law
Monash University
Research Member

Chiara Mosca

Associate Professor
Università Bocconi
Representative Member

Colin Mayer

Emeritus Professor of Management Studies
Blavatnik School of Government and Saïd Business School, University of Oxford
Fellow, Research Member

Marco Ventoruzzo

Head of Department and Professor of Corporate Law
Paolo Baffi Center on Financial Regulation, Bocconi University Law Department
Research Member

Morten Bennedsen

André and Rosalie Hoffmann Chaired Professor of Family Enterprise
Research Member


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