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The Societas Europaea : Good News for European Firms

Eidenmueller, Horst; Engert, Andreas; Hornuf, Lars - 2010

When Council Regulation (EC) No 2157/2001 on the Statute for a European Company (Societas Europaea - SE) became effective on 8 October 2004, it offered publicly traded companies, for the first time, a choice between competing company laws, namely the national law of the company’s home state...

Persistent link: https://www.econbiz.de/10014207699

Incorporating under European Law : The Societas Europaea as a Vehicle for Legal Arbitrage

Eidenmueller, Horst; Hornuf, Lars; Engert, Andreas - 2008

After a slow start, the European Company (Societas Europaea, SE) has become increasingly popular. Beside documenting the growth of this new company type, we examine whether firms choose to incorporate in the SE corporate form because they engage in 'legal arbitrage' by exploiting differences in...

Persistent link: https://www.econbiz.de/10014212019

The End of Regulatory Competition in European Company Law?

Hornuf, Lars; Lindner, Julia - 2014

In this article, we analyze regulatory competition in company law in the European Union (EU). By examining the … empirical evidence, we conclude that regulatory competition, which is triggered by legal arbitrage and the competitive pressure … precondition for horizontal regulatory competition is absent. Furthermore, vertical regulatory competition is not on the agenda of …

Persistent link: https://www.econbiz.de/10014142410

Does charter competition foster entrepreneurship? : a difference-in-difference approach to European company law reforms

Braun, Reiner; Eidenmüller, Horst; Engert, Andreas; … - In: Journal of common market studies : JCMS 51 (2013) 3, pp. 399-415

Persistent link: https://www.econbiz.de/10009776373

Where do firms issue debt? An empirical analysis of issuer location and regulatory competition in Europe

Eidenmüller, Horst; Engert, Andreas; Hornuf, Lars - In: International Review of Law and Economics 41 (2015) C, pp. 103-115

In this article, we study the choice of issuer location and regulatory competition in the European corporate debt …

Persistent link: https://www.econbiz.de/10011189312

The Emergence of Crowdinvesting in Europe

Hornuf, Lars; Schwienbacher, Armin - Volkswirtschaftliche Fakultät, … - 2014

This paper first presents the development of the crowdinvesting market in Europe since its start in 2007. Then, using hand-collected data on the complete set of crowdinvesting campaigns run in Germany, the paper shows that successful campaigns tend to be launched by new startups and when the...

Persistent link: https://www.econbiz.de/10010897338

Funding Dynamics in Crowdinvesting

Hornuf, Lars; Schwienbacher, Armin - 2015

We use hand-collected data from four German crowdinvesting portals to analyze what determines individual investment decisions in crowdinvesting. In contrast with the crowdfunding campaigns on Kickstarter, where the typical pattern of project support is U-shaped, we find crowdinvesting dynamics...

Persistent link: https://www.econbiz.de/10011301565

Funding dynamics in crowdinvesting

Hornuf, Lars; Schwienbacher, Armin - 2015

We use hand-collected data from four German crowdinvesting portals to analyze what determines individual investment decisions in crowdinvesting. In contrast with the crowdfunding campaigns on Kickstarter where the typical pattern of project support is U-shaped, we find crowdinvesting dynamics to...

Persistent link: https://www.econbiz.de/10011372052

Die Befreiungsvorschriften des Kleinanlegerschutzgesetzes: Eine Follow-up-Studie

Hainz, Christa; Hornuf, Lars; Nagel, Lisa; Reiter, Sarah; … - In: ifo Schnelldienst 72 (2019) 09, pp. 26-37

Das Kleinanlegerschutzgesetz aus dem Jahr 2015 soll durch eine stärkere Regulierung für mehr Transparenz für Anlegerinnen und Anleger auf dem »grauen Kapitalmarkt« sorgen. Das Gesetz beinhaltet jedoch auch Ausnahmeregelungen. Diese entbinden sowohl Unternehmen, die sich über eine...

Persistent link: https://www.econbiz.de/10012018081

Die Befreiungsvorschriften des Kleinanlegerschutzgesetzes

Hainz, Christa; Hornuf, Lars; Klöhn, Lars; Brauer, Björn - In: ifo Schnelldienst 70 (2017) 06, pp. 26-35

Der Beitrag untersucht die Auswirkungen der im Sommer 2015 eingeführten Befreiungsvorschriften des Kleinanlegerschutzgesetzes. Durch eine stärkere Regulierung soll das Kleinanlegerschutzgesetz für mehr Transparenz für Anleger auf dem grauen Kapitalmarkt sorgen. Das Gesetz beinhaltet jedoch...

Persistent link: https://www.econbiz.de/10011694118