The 2003 Italian Corporate Reform Law, establishing one-tier vs two-tier board for listed and unlisted joint stock companies, introduced an alternative corporate governance system. We compare 548 unlisted firms: corporations with best performance in sales and capital structure, as well as those...

Gravelle (1990) has shown that delay works as measure of the excess of demand characterizing a judicial system. In this paper we adapt the Gravelle's argument to the Italian judicial system in order to verify whether it works, in the sense that delay discourages potential plaintiffs from...

The legal system can be treated as a large market where justice is traded in terms of legal disputes. Empirical evidence underlines that demand for legal assistance raises over time, despite high costs connected to filing, not only in Italy but also elsewhere in Europe. Moreover, the demand for...