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Soon we can expect a new type of company: the European Private Company (Societas Privata Europaea – SPE) aimed at small and medium-sized enterprises in the EU. In this article, we analyse how creditors of future SPEs will be protected. In the first part, we identify on a general level how...
Persistent link: https://www.econbiz.de/10014183731
Regulatory competition in company law has been extensively debated in the last few decades, but it has rarely been discussed whether there could also be regulatory competition in partnership law. This article fills this gap. It addresses the partnership law of the US, the UK, Germany, and...
Persistent link: https://www.econbiz.de/10014215779
German law requires both private and public companies to disclose a far-ranging set of information to shareholders, creditors, other market participants and the public. The information that must be disclosed under these rules is more extensive in scale and scope than those provided by data...
Persistent link: https://www.econbiz.de/10014051471
borrowing. I motivate this assumption in two ways. First, the state of insolvency effectively shifts fiduciary duties to …. Second, the state of insolvency subjects the firm’s decisions to fraudulent transfer laws that also effectively limit the …
Persistent link: https://www.econbiz.de/10013293726
Initial Coin Offerings (ICOs) are still one of the most fashionable topics in the area of financial markets. For token issuers, they are a continuing to be a success story. In 2019 alone, more than $ 3,3 billion USD have been raised in ICOs. From the investors’ perspective, however, things do...
Persistent link: https://www.econbiz.de/10014351907
The focus of corporate governance on Environmental, Social and Governance (“ESG”) issues has grown exponentially in recent years. The phenomenon has a global nature, and the COVID-19 pandemic has accelerated the demand for corporate leaders to take ESG seriously. In the United States,...
Persistent link: https://www.econbiz.de/10014265397
This paper, using Hong Kong as a test case, challenges one conventional theory and confirms another one in law and …
Persistent link: https://www.econbiz.de/10014169562
Could a new “discourse theory” of the firm provide a better way than existing corporate law principles to understand … accurate theory of the corporation capable of accommodating such a change. But why is a new discourse theory necessary to …. Not only does a new discourse theory of the firm accurately attend to the evolving nature of the corporation, but it …
Persistent link: https://www.econbiz.de/10014188578
This article shows how leximetric coding techniques, combined with econometric analysis, can be used to examine similarities and differences across a large number of different legal systems, and to address the question of the extent to which the ‘law matters'. The focus is on the...
Persistent link: https://www.econbiz.de/10013031469
This article analyzes how shareholder protection has developed in 20 countries from 1995 to 2005. In contrast to traditional legal research, it draws on a quanti-tative methodology to law ("leximetrics", "numerical comparative law"). Some of its results are that in most countries shareholder...
Persistent link: https://www.econbiz.de/10005813019