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Sparking Regulatory Competition in European Company Law - The Impact of the Centros Line of Case-Law and its Concept of 'Abuse of Law'

Ringe, Wolf-Georg - 2009

This paper analyzes the ECJ's approach towards abusive behavior in company law and assesses the impact that the leading cases since 1999 have had both on business behavior in the EU and on the national law-makers who have responded to the opening of the markets. It is shown that the Court has...

Persistent link: https://www.econbiz.de/10014211453

International Takeover Laws and Corporate Cash Holdings

Su, Zihao; Yang, Donghe; Zhu, Xindong Kevin - 2022

We examine the impact on corporate cash holdings of international merger and acquisition (M&A) laws, which facilitate corporate takeovers. We use the staggered enactment of M&A laws from 1992 to 2005 and a sample spanning 34 jurisdictions, and find that levels of corporate cash holdings increase...

Persistent link: https://www.econbiz.de/10014235794

Comparative Company Law : A Case-Based Approach

Siems, Mathias - 2013

, Italy and Poland) as well as two smaller Member States (Finland and Latvia). In addition, the laws of two of the world …

Persistent link: https://www.econbiz.de/10013086789

Why Investor Protection is Not All That Matters in Corporate Law and Economics

Pacces, Alessio M. - 2010

to which corporate law promotes separation of ownership and control by protecting minority shareholders from …. Supporting control powers vested in managers or controlling shareholders is at least as important as protecting investors from …

Persistent link: https://www.econbiz.de/10013147784

Litigation Risk and Agency Costs : Evidence from Nevada Corporate Law

Donelson, Dain C. - 2015

In 2001, Nevada significantly limited the personal legal liability of corporate officers and directors. We use this exogenous shock to implement a differences-in-differences design that examines the impact of officer and director litigation risk on agency costs. We find decreased firm value,...

Persistent link: https://www.econbiz.de/10013036235

Does culture affect corporate governance?

Gantenbein, Pascal; Volonté, Christophe - 2012

The legal environment is one important determinant of corporate governance. However, within legal families, also cultural differences can explain the level of corporate governance to some extent. We analyze this relationship for the case of Switzerland. Swiss firms are mainly located in two...

Persistent link: https://www.econbiz.de/10009565389

Upsetting Deals and Reform Loop : Can Companies and M&A Law in Europe Adapt to the Market for Corporate Control?

Gatti, Matteo - 2019

This paper sheds light on a structural problem affecting all M&A laws: deals are complex and unique, while the law is general. In particular, target companies have a particular ownership structure that must fit the paradigm contemplated by the law, which in the European Union consists almost...

Persistent link: https://www.econbiz.de/10012898923

Principal Costs : A New Theory for Corporate Law and Governance

Goshen, Zohar - 2017

would reduce agency costs by forcing firms to allocate more control to shareholders. Such proposals disregard the costs that … shareholders avoid by delegating control to managers and voluntarily restricting their own control rights. This Essay introduces …-specific as well. Thus, firms rationally select from a range of governance structures that empower shareholders to varying degrees …

Persistent link: https://www.econbiz.de/10012972091

How Does Corporate Law Matter? ‘Law and Finance’ and Beyond

Pacces, Alessio M. - 2013

This chapter discusses the law and finance scholarship, from its beginning to its developments into legal research and policymaking. The key issue of the importance of law for finance is illustrated along with the controversy on the law matters proposition. The focus of the chapter, however, is...

Persistent link: https://www.econbiz.de/10013082456

The Financial Crisis : A Reason to Improve Shareholder Protection in the EU?

Mukwiri, Jonathan - 2014

intuitive reason for the topicality of shareholder protection is that insolvencies mainly harm shareholders as the companies …

Persistent link: https://www.econbiz.de/10013058465