U.K. guidelines on the introduction of new regulations require that politicians and civil servants should “think small first” when deciding whether and how to introduce new regulations that affect business. Similar guidelines are currently being adopted across the EU. This paper presents the...

In this paper, we document how European companies can use financial tunnelling to the disadvantageof minority shareholders, despite improved legislation directed at eliminating such activities. In fourcase studies, two German and two Italian, we document how newly established corporate...