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History

The article quotes: "In 1949 the bank changed its name becoming a limited company (Italian: Società per azioni) and the..." but a "Società per azioni" is a *stock* company, not a limited company. Whereas the emphasis is on stock. The more common correspondence for a limited company in the Italian jurisprudence is "società responsabilità limitata", but it really depends on which type of limited company we are talking about. There is also to check which company types were available at the time. Some may indeed not really match those used nowadays. The important point to change is that the company became a stock company as it was likely mandatory above a certain threshold. My proposed change is: "In 1949 the bank changed its name becoming a (limited?) *stock* company (Italian: Società per azioni) and the..." Gabriele Dini Ciacci (talk) 12:26, 21 December 2016 (UTC)[reply]

You mean joint stock company or S.A. (corporation)? Matthew_hk t c 12:39, 21 December 2016 (UTC)[reply]

I might have explained badly. I am not an expert, and indeed here an "historical" finance editor is needed. My point is that I do not know if in 1949 a "Società per Azioni" was limited or not. It is much more likely that it was. At the same time it was also likely that the bank was already a limited company but it became also a stock company. So the change was for example something like form a limited by guarantee, to a limited by shares. Hence the change to specify in the article is of the new stock form. i.e. It issued stocks! Your proposal to use a JSC has the plus that it is the same choice made to translate "Società per Azioni", but the two do not actually match perfectly as for example JSC might be unlimited indeed (e.g. in Texas). If someone has access to the original certificate of incoporation of the back we might just specify "limited by stock company" or what better explains the company form. This is the reason why I did not made an edit directly, there is to talk about it as you might have guessed. Again I do not know about the SA, it would surprise me if in the Italian system in 1949 a bank could exist in the form of a SA, as you might imagine why, but never say never and I do not want to say something far stupid. If it fits or not, depends on what was on the bank statute. Gabriele Dini Ciacci (talk) 18:44, 22 December 2016 (UTC)[reply]

I checked out a pdf from the bank and the change looks like to be from an Italian S.A.p.A to a S.p.A. So the change was related to liability and company structure. Imho the wording can be improved either by removing the parenthetic or by specifying the Italian company form before and after. This would make it not ambiguous to readers knowing what a "Società per Azioni" is. I confirmed with other readers prepared in economics subjects and they all confirmed that the current form is unclear. If you have someone to proofread the sentence and they show similar perplexities we could go on with a change. Gabriele Dini Ciacci (talk) 12:54, 23 December 2016 (UTC)[reply]