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In order to better differentiate the drivers of corporations' actions, in particular shareholder wealth and stakeholder interests, the paper explores the significance of the comply or explain-principle and its underlying enforcement mechanisms more generally. Against this background, compliance...
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exemption for transactions with wholly owned subsidiaries allows controlling shareholders to circumvent the rule extensively … shareholders and creditors. Hence, if the Commission choses to go down this route it might end up with a comprehensive regulation …
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