The Impact of European Developments on German Codetermination and German Corporate Law

2017 ◽  
pp. 243-328 ◽  
Author(s):  
Otto Sandrock
Keyword(s):  
Corporate Law ◽  
The Impact

The effect of the adoption of an alternative corporate governance system on firms’ performances

2016 ◽  
Vol 35 (4) ◽  
pp. 517-529 ◽  
Author(s):  
Carlo Bellavite Pellegrini ◽  
Bruno S. Sergi ◽  
Emiliano Sironi
Keyword(s):  
Corporate Governance ◽  
Propensity Score ◽  
Performance Outcomes ◽  
Corporate Law ◽  
Law Reform ◽  
Governance System ◽  
Content Type ◽  
Alternative System ◽  
The Impact ◽  
Board System

Purpose – Alternative corporate governance systems (CGSs) have attracted a significant bulk of research recently. While the connection between the adoption of an alternative system (one tier board or two tier board system) and firms’ performances has not been fully analysed yet, the purpose of this paper is to analyse whether companies which have turned into an alternative board system have eventually improved their performance over time. Design/methodology/approach – Using a sample of more than 15,000 Italian unlisted joint stock companies, the authors compare performance outcomes in 2009 of firms adopting alternative systems with performances of firms that maintained the system in force before the 2003 Corporate Law Reform (defined as “traditional”). Because of the choice of an alternative system (one tier or two tier board) instead of a traditional one is not random, the authors reduce selection bias implementing matching methods and comparing firms that are close in terms of propensity score measured in 2003 (the year before the new CGSs have been introduced by a corporate law reform). Findings – The authors do not find evidence of a significant improvement of performances in 2009 concerning those firms that have adopted a one tier or two tier board systems with respect to those which maintained a traditional one. Originality/value – The novelty of the study concerns the application of propensity score matching for the evaluation of the impact of the change of the CGS that is possible in presence of two conditions that are all verified in our setting: first, to have a country where corporate law allows for choosing among different systems; in this case Italy is a good laboratory, because it allows for the choice among three different systems; and second, to have the opportunity to evaluate the effect of the change in light of a relatively recent “pre-treatment” condition; this is made possible by the fact that before the 2003 Reform of corporate law all the companies had a traditional system.

Empirical Studies of Corporate Law and Governance

2017 ◽  
Author(s):  
Michael Klausner
Keyword(s):  
Corporate Governance ◽  
Empirical Studies ◽  
The United States ◽  
Corporate Law ◽  
Empirical Literature ◽  
Related Literature ◽  
Takeover Defenses ◽  
The Us ◽  
Governance Quality ◽  
The Impact

This chapter examines the empirical literature on corporate law and governance in the United States. Four areas of the US corporate governance literature are discussed: (i) state competition to produce corporate law, (ii) independent boards, (iii) takeover defenses, and (iv) the use of corporate governance indices. The chapter concludes that these areas of research reflect varying degrees of success. The literature on state competition has been a major success. We know much more in this area as a result of empirical analysis in this area than we did on the basis of theory alone. At the other extreme is the literature on takeover defenses and the related literature that uses governance indices as measures of governance quality. Those empirical literatures are plagued by misunderstandings of how takeovers and takeover defenses work, and many results are therefore not as informative as they appear to be. In between is the literature on the impact of an independent board. Here, empiricists faced perhaps insurmountable challenges in proving causation, but nonetheless exposed informative associations.

scholarly journals Digitalization of Institutions of Corporate Law: Current Trends and Future Prospects

Laws ◽  
2021 ◽  
Vol 10 (4) ◽  
pp. 93
Author(s):  
Vasiliy Andreevich Laptev ◽  
Daria Rinatovna Feyzrakhmanova
Keyword(s):  
Corporate Governance ◽  
Digital Technologies ◽  
Corporate Law ◽  
Legal Personality ◽  
Economic Relations ◽  
Current Trends ◽  
Digital Network ◽  
Decentralized Autonomous Organizations ◽  
Education Science ◽  
The Impact

Digital technologies have been integrated into all aspects of public life, including politics, law, finance, business, education, science, and society. As a result of the use of digital technologies by various subjects, a transformation has occurred of the economic relations existing in society, including corporate relations. This study analyzes the impact of digitalization on individual institutions of corporate law. The authors investigate the following aspects of the digitalization of corporate law: (1) digital legal personality of the corporation (online registration (e-residency) of corporations and the digital footprint that companies leave in public registers); (2) digital corporate governance; and (3) digital (network or decentralized) autonomous organizations. The purpose of this research is to identify trends and directions of transformation of individual institutions of corporate law in a digital society. The authors conclude that the digitalization of institutions of corporate law will result in: (1) the reinterpretation of certain concepts of corporate law, such as corporation and corporate governance; (2) the improvement of the legal mechanisms of corporate governance following the introduction of AI into the collegial executive bodies of corporations; (3) the digitalization of corporate assets; and (4) the emergence of new subjects of corporate and other relevant relations.

Corporate Power and the Protection of Human Rights in Equilibrium

2013 ◽  
Vol 24 (1) ◽  
pp. 29-42 ◽  
Author(s):  
Wasima Khan
Keyword(s):  
Human Rights ◽  
Best Practices ◽  
International Business ◽  
Social Entrepreneurship ◽  
Corporate Law ◽  
Corporate Power ◽  
The World ◽  
Protection Of Human Rights ◽  
The Impact ◽  
Responsible Manner

Corporate power reaches beyond land frontiers and holds sway over the lives of billions of individuals throughout communities and living environments all over the world. Regrettably, this power is not always exercised in a responsible manner when we look at the amount of violations of human rights in which corporations have been involved through their international business affairs. In order to prevent an abuse of corporate authority to the detriment of human rights, the impact of corporate power should be balanced with a matching responsibility towards all members of society. This article examines how corporate power and the protection of human rights are currently out of equilibrium. Subsequently, it explores solutions in the field of corporate law and best practices such as the emergence of social entrepreneurship to restore this equilibrium.

scholarly journals IMPACTO DE LAS S.A.S. EN LA CONSTITUCIÓN DE SOCIEDADES EN COLOMBIA DESDE LA ÓPTICA DEL ANÁLISIS ECONÓMICO DEL DERECHO SOCIETARIO

2013 ◽  
Vol 8 (1) ◽  
Author(s):  
JULIO ENRIQUE CORTES RIVEROS
Keyword(s):  
Economic Analysis ◽  
Transaction Costs ◽  
Legal System ◽  
Corporate Law ◽  
Economic Analysis Of Law ◽  
Economic Interests ◽  
Sole Proprietorship ◽  
El Sistema ◽  
The Impact

<p><strong>RESUMEN</strong></p><p> </p><p>El presente texto está dedicado a examinar el contenido de la Ley 1258 de 2008, como resultado del análisis económico del derecho societario y el impacto en la Constitución de sociedades en Colombia.  Este análisis económico del derecho societario busca producir normas dispositivas que permitan reflejar los intereses económicos de los asociados, a partir de 3 premisas fundamentales: Los individuos son racionales, en el sentido en que maximizan su utilidad, tanto en situaciones de mercado como en situaciones de no mercado. Los individuos responden a los incentivos de precios en los mercados y a los incentivos legales, que se pueden asimilar a los precios en las situaciones de no mercado. El sistema jurídico y el impacto del derecho pueden y deben analizarse con base en el criterio de eficiencia.</p><p> </p><p><strong>PALABRAS CLAVES</strong></p><p> </p><p>Tipo societario, análisis económico del derecho, eficiencia, formalización, empresarial, incentivo legal, costos de transacción, empresa unipersonal, agencia.</p><p> </p><p><strong>IMPACT OF</strong><strong> S.A.S. IN THE CONSTITUTION OF COMPANIES FROM COLOMBIA OPTICS OF CORPORATE LAW ECONOMIC ANALYSIS</strong></p><p><br /> <strong>ABSTRACT</strong><br /> <br /> This paper is devoted to examining the contents of the 1258 Act of 2008, as a result of the economic analysis of corporate law and the impact on the formation of companies in Colombia. This economic analysis of corporate law seeks to produce operative provisions intended to convey the economic interests of the partners, from 3 premises: Individuals are rational, in the sense that they maximize their utility, both market situations and in situations of no market. Individuals respond to price incentives in markets and legal incentives, which can be assimilated to the prices in non-market situations. The legal system and the impact of law can and must be analyzed based on the criterion of efficiency.</p><p><br /> <strong>KEYWORDS: </strong>Type societal, economic analysis of law, efficiency, formalization, business, legal incentives, transaction costs, sole proprietorship, agency.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p><strong>IMPACTO DAS S.A.S.</strong><strong> NA CONSTITUIÇÃO DE EMPRESAS DA COLÔMBIA ÓTICA DE ANÁLISE ECONÔMICA LEGISLAÇÃO SOCIETÁRIA</strong></p><p><br /> <strong>RESUMO</strong><br /> <br /> Este artigo é dedicado a analisar o conteúdo da Lei 1.258 de 2008, como resultado da análise econômica do direito empresarial eo impacto sobre a formação de empresas na Colômbia. Esta análise econômica do direito empresarial visa produzir disposições operacionais destinadas a transmitir os interesses econômicos dos parceiros, a partir de três premissas: Indivíduos são racionais, no sentido de que eles maximizar a sua utilidade, as duas situações de mercado e em situações de há mercado. Os indivíduos respondem aos incentivos de preços nos mercados e incentivos legais, que possam ser equiparados aos preços em situações de não-mercado. O sistema jurídico eo impacto da lei pode e deve ser analisada com base no critério de eficiência.</p><p><br /> <strong>PALAVRAS-CHAVE:</strong> Digite societal análise econômica do direito, a eficiência, a formalização de negócios, incentivos legais, custos de transação, sociedade unipessoal, agência.</p>

Corporate Law, Government Intervention and Corporate Ownership Structure

2019 ◽  
Vol 10 (3) ◽  
Author(s):  
Miao Miao ◽  
An Liu ◽  
Jiaming Shi
Keyword(s):  
Ownership Structure ◽  
Political Institutions ◽  
Government Intervention ◽  
Corporate Law ◽  
Provincial Government ◽  
Policy Implications ◽  
Private Firms ◽  
Corporate Ownership ◽  
Corporate Ownership Structure ◽  
The Impact

Abstract We compare the influence of legal and political factors on the corporate ownership structure of Chinese listed companies. We find that: (1) the improvement of corporate law quality and the less government intervene on firms lead to a decrease in corporate ownership concentration; (2) compared with the provincial corporate law performance, the effects of the provincial government intervention on the concentration of ownership is relatively significant; (3) the impact of government intervention on corporate ownership structure of state-owned firms are larger than that of private firms, whereas the impact of provincial corporate law implementation performance is more significant in samples of private firms. The policy implications are that most China’s SOE reform measures have yet not cure the crux. The success of the reform may primarily depends on the re-examination and restructure of the political institutions.

The impact of biotechnology on corporate law and regulation

1983 ◽  
Vol 5 (2) ◽  
pp. 87-94 ◽  
Author(s):  
Harold P. Green
Keyword(s):  
Corporate Law ◽  
The Impact
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