Word: corbetta
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Dates: during 2004-2004
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...year the government reduced the penalties for false accounting, an offense for which Berlusconi was indicted in 1999. Also, to avoid bribery charges, he pushed through a law giving top government office holders immunity from prosecution, though last week Italy's high court deemed this move unconstitutional. Notes Guido Corbetta, a business professor at Milan's Bocconi University: "You can always improve the laws, but what's important is changing the culture." --By Peter Gumbel and Jeff Israely...
...companies where we can't understand what's going on," vows a top credit officer at one big Italian bank. But small and mid-sized firms will be hit too. "For family firms that need more capital to grow, this will be an important problem," worries Guido Corbetta, a professor at Bocconi University in Milan. Prosecutors probing the now-bankrupt Parmalat are increasingly focusing on the roles Italian and U.S. banks may have played in the affair. One potential winner: the Italian stock market. Family businesses have traditionally shunned it, but Corbetta believes firms with ambitious growth plans...
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