Integrated capital markets could smooth a large share of country-specific consumption and income fluctuations. Equity capital play an important role in the process. Insolvency regulations are a key factor for stronger equity market integration. Uniform European insolvency regulations are...

This extended abstract assesses how harmonisation can be promoted and achieved in the European Union without a completely uniform legal system in place. The work focuses on international legal cooperation as a means to promote harmonisation throughout the EU. It uses the area of cross-border...

The European Union (EU) has been debating for several years whether to change from the legal capital regime as regulated under the Second Company Law Directive to a solvency test regime as applied in the US, for example. Based on an analysis of direct compliance costs and capital maintenance...