In this paper, we examine the inconclusive debate on regulatory competition in Europe. We demonstrate that the recent expansion in the EU company law has created archetypal underpinning for formation of regulatory competition: the ground-breaking triptych of the ECJ on Centros, Überseering, and...

The paper analyses a strategy for avoiding the disclosure of the financial statements of a limited partnership with a limited liability company as general partner (GmbH & Co. KG) according to German Commercial Code (HGB). It describes the formal process of the joining of a natural person as an...

The law and finance theory is an ambitious and fascinating attempt to combine insights from the theory of corporate finance, institutional economics, legal and economic history as well as the recent studies on the determinants of economic growth into an encompassing theory, thereby filling...

In this article, I deal with the apparent conflict between certain provisions of the Second Company Law Directive, in particular its Article 25 regulating increases of the share capital of European joint-stock companies, and basic logic of non-liquidation insolvency proceedings, usually referred...

This paper investigates the implications of the fair value protections contemplated by the standard corporate contract (i.e., the standard contract form for which corporate law provides) for the entrepreneur-venture capitalist relationship, focusing, in particular, on unavoidable...

What legal, political and economic institutions are shaping privatisations processes in the world? This paper addresses the issue presenting new evidence for a sample of 49 countries. From an empirical analysis for the period 1977-1996, the decision to privatise appears to be related to...

This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks at mechanisms that stabilize rule systems, at...

The tokenization of financial assets using blockchain technology is a transformative process that allows for the fractionalization of ownership, thereby creating more accessible investment opportunities compared to traditional financial assets. Recent research has shown that token offerings are...

The paper explores the level of CSR development in Poland and focuses on the roles of stakeholders actively involved in fostering the CSR concept in the country. The stakeholders include: (1) regulators (Ministry of Finance, Ministry of Economy, the Warsaw Stock Exchange and Polish Accounting...