scholarly journals Takeover Regulation- through the Regulatory Looking Glass

2007 ◽  
Vol 8 (4) ◽  
pp. 381-412 ◽  
Author(s):  
Blanaid Clarke
Keyword(s):  
Capital Market ◽  
Action Plan ◽  
Company Law ◽  
The European Union ◽  
The Public ◽  
Securities Law ◽  
Market Participants ◽  
Takeover Bids ◽  
Looking Glass ◽  
The Eu

As the Action Plan on Modernising Company Law and Enhancing Corporate Governance in the European Union (2003) makes clear, the EU has sought to develop company and securities law as vital pillars of an overall attempt to improve Europe's international competitiveness. An important part of this is the creation of an integrated capital market in the EU. The regulation of takeover bids was deemed to be a key element of such an integrated market. This paper will focus on Directive 2004/25/EC on Takeover Bids and will seek to examine it under the regulatory microscope. It is too early to make a complete judgment about the Directive's effectiveness as a regulatory mechanism as this would involve determining whether it achieves its goals, secures high levels of compliance from Member States and market participants and is democratically accountable to the extent that its provisions affect the public interest. It is however possible to reflect upon some of its potential strengths and failings in respect of these criteria.

Recent Developments of Corporate Governance in the European Union and their Impact on the German Legal System

2004 ◽  
Vol 5 (10) ◽  
pp. 1275-1294
Author(s):  
Athanasios Kouloridas ◽  
Jens von Lackum
Keyword(s):  
Corporate Governance ◽  
Action Plan ◽  
Company Law ◽  
Public Consultation ◽  
Public Confidence ◽  
The European Union ◽  
Legal Form ◽  
Recent Developments ◽  
Set Up ◽  
The Eu

The collapses of several US-businesses like those of Enron and Worldcom and a number of scandals in the EU – in the recent past that of Parmalat – have strongly affected public confidence in the operation and governance of large entities trading their shares in organized capital markets. The European Commission reacted by issuing the Action Plan on Modernizing Company Law and Enhancing Corporate Governance in the EU on 21 May 2003. The Action Plan contains measures which the Commission wants to implement over the short term (until 2005), medium term (until 2008) and long term (until 2010). The key issues set up in the Action Plan concern corporate governance, capital maintenance, recapitalization as well as decreasing capital, groups of companies, international corporate restructuring and the introduction of a new legal form of incorporation. The fact that the big rating agencies have begun to rate the corporate governance performances of major companies, can well be seen as a further indicator that good corporate governance has an important concern for managers, shareholders and for policy makers. As part of the Action Plan, the Commission has recently launched consultations on board responsibilities and improving financial and corporate governance information, on directors’ remuneration and on the role of (independent) non-executive or supervisory directors. In the light of these recent consultations and the results of the public consultation on the Action Plan, this Article offers an overview and assessment of the corporate governance measures planned at Community level.

scholarly journals FIGHT AGAINST CORRUPTION IN UKRAINE AS THE PRECONDITION FOR INTRODUCTION OF VISA-FREE REGIME WITH THE EUROPEAN UNION

2016 ◽  
pp. 74-81
Author(s):  
N. Mushak
Keyword(s):  
Action Plan ◽  
Final Decision ◽  
Court System ◽  
The European Union ◽  
National Agency ◽  
Effective Work ◽  
The Public ◽  
Four Blocks ◽  
Corruption Prevention ◽  
The Eu

Nowadays, the only unreformed component, which remains within the legal system of Ukraine is the Ukrainian court system. The main factors that affect the activity of the courts in Ukraine are both political and economic corruption. If we compare the degree of influence on the courts, we can say that the activity of the CCU mostly suffers from political corruption while the economic corruption significantly affects the activity of courts of general jurisdiction. To implement legal instruments to combat corruption in Ukraine the appropriate system of enforcement bodies has been implemented. It involves the National Anti-Corruption Bureau of Ukraine (hereinafter – NABU), Anti-corruption Prosecutor Office, the National Agency for the Corruption Prevention (hereinafter – NACP) and the Agency for Investigation / Return Assets. The article defines that unresolved problem is the launch by the National Agency for the Prevention of Corruption of the electronic declaration system to be held on 15 August 2016. The launch of e-declaration is an essential is the final commitment of Ukraine to obtain the free visa regime. The final decision on the implementation by Ukraine of the criteria of the Action Plan on Visa Liberalization was approved by the EU Commission on 18 December 2015. The document stipulates that Ukraine fulfilled all the criteria set of four blocks of APVL. Nowadays Ukraine is expecting to get the visa regime from the EU. In general, for effective implementation of anti-corruption policy in Ukraine should be introduced a systematic approach. The phenomenon of corruption is systemic, and accordingly it must be overcome only by joint efforts. It is necessary to ensure the independence of anti-corruption bodies and prevent their political dependence on the governing bodies; establish effective work of the National Agency for Corruption Prevention, the National Anti-Corruption Bureau, Anti-corruption Prosecutor's Office and the Agency for Investigation/return assets must; inform the public on their performance; and to provide penalties for officials who committed corruption offenses.

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

scholarly journals Contemporary Trends in the Development of the Anti-Corruption Legislation of Republic of Bulgaria

2019 ◽  
Vol 25 (2) ◽  
pp. 141-146 ◽  
Author(s):  
Vladislav Krastev ◽  
Blagovesta Koyundzhiyska-Davidkova ◽  
Nadezhda Petkova
Keyword(s):  
United Nations ◽  
Annual Reports ◽  
The European Union ◽  
International Convention ◽  
The Public ◽  
The Creation ◽  
The United Nations ◽  
The Republic ◽  
The Public Sphere ◽  
The Eu

Abstract In 2000, the global policy against the phenomenon of “corruption“ was launched by the United Nations, and in 2003 the United Nations Convention against Corruption (UNCAC) was adopted, which Bulgaria ratified three years later. Two months after the adoption of this international convention, Bulgaria became part of the European Union. The accession was accompanied by the creation of “specific accompanying measures” aimed at correcting identified deficiencies in various areas, including measures against corruption. As a result of the annual reports of the European Commission on Bulgaria’s progress on the Co-operation and Verification Mechanism, anti-corruption law-making has begun to develop and improve. Serious progress in this direction is the creation of legislation in the area of “conflict of interest”, which is not exactly corruption but creates prerequisites for its development, especially in the public sphere. The paper presents the result of the analysis of the created anti-corruption legislation after the accession of the Republic of Bulgaria to the EU. Particular attention is paid to the law adopted in 2018 regulating anti-corruption measures, as well as the terms and procedure for the seizure of illegally acquired property for the benefit of the state.

scholarly journals Navigating Through the Maze: Practical Constraints in the Implementation of Forest Regulations (FLEGT) in Ghana

2021 ◽  
Vol 10 (2) ◽  
pp. 31
Author(s):  
Gordon Kofi Sarfo-Adu
Keyword(s):  
Value Chain ◽  
Sustainable Forest Management ◽  
Tracking System ◽  
Action Plan ◽  
The European Union ◽  
Implementation Challenges ◽  
Technical Errors ◽  
Public Policy Implementation ◽  
Transnational Actors ◽  
The Eu

The European Union Forest Law Enforcement on Governance and Trade (EU-FLEGT) Action Plan seeks to promote widespread sustainable forest management and relies largely on transnational actors and international law in its operationalization. The EU FLEGT sets out EU custom regulation through Voluntary Partnership Agreements (VPAs) which is a bilateral agreement between the EU and wood exporting countries with instruments aimed at promoting sustainable practices within the forest resources value chain. Ghana became a signatory to the FLEGT VPA since 2007, as part of the process, it is required to use technology to track timber logging from source to point of export. Issues of networks and inter-agency collaboration and dealing with human elements remain crucial in ensuring effective operationalization. Adopting a qualitative case study design as well as theories and concepts from the public policy implementation literature, this study examines the implementation vagaries of the FLEGT VPA in Ghana. Although the VPA is a laudable idea of using Information Technology (IT) in effectively tracking timber to its original source to ascertain legality or otherwise of the timber, the needed IT infrastructure and resources have not matched up with the goal. Additionally, the VPA implementation is expensive and has come with additional cost to the implementers, The study further observes that the increasing ‘red flags’ that are raised on the Ghana Wood Tracking System is a blend of technical errors emanating from negligence or capacity challenges and human manipulation. This calls for regular consultations and workshops with relevant stakeholders in order to assess which skills are deficient and a need to beef up through on-the-job training. The domestic market and trading activities tend to fuel demand for illegal timber hence a constraint to the full realization of the VPA objective. The study makes policy suggestions on how to address these implementation challenges.

scholarly journals The potentials for Political and Economic Development of Kosovo

2013 ◽  
Vol 3 (2) ◽  
pp. 319
Author(s):  
MSc. Ngadhnjim Brovina ◽  
MSc. Adnan Hoxha
Keyword(s):  
Economic Growth ◽  
Natural Resources ◽  
The European Union ◽  
Economic Sectors ◽  
Public Companies ◽  
Association Agreement ◽  
The Public ◽  
Political Status ◽  
Political Economic ◽  
The Eu

It is rather clear that it is mandatory to understand the potentials of growth for any economy to grow. With globalization taking place, countries in general, have intensified their political, economic and social integration. Kosovo, as the youngest state in Europe, is about to transform from a devastated economy into a developing one. It has not yet been able to tap on its natural resources and neither of its potentials for a faster economic growth. Its backbone economic sectors such as agriculture, textile, mining and metal sectors are still on their initial stages of revitalization, while the privatization of the public companies has not met its expectations.Whereas, Kosovo is doing a better job on, as its international presence and subjectivity of its political status (Independence) is strengthened. More and more countries are recognizing it as a sovereign country, while the recent initiation of the Stabilization and Association Agreement with the European Union, Kosovo is undergoing through its structural reforms and alliance with the EU standards and regulations.The future of Kosovo, like of any country, will depend on the way that its human, financial and natural resources are utilized. On this regard, this paper is an attempt to explore the potentials of the economic growth on different political contexts that Kosovo has and is expected to undergo.

scholarly journals Accommodating Divergent Policy Objectives under WTO Law: Reflections on EC—Seal Products

AJIL Unbound ◽  
2014 ◽  
Vol 108 ◽  
pp. 308-314 ◽  
Author(s):  
Julia Y. Qin
Keyword(s):  
Indigenous Peoples ◽  
Sustainable Management ◽  
Indigenous Communities ◽  
Marine Resources ◽  
The European Union ◽  
Public Concern ◽  
The Public ◽  
Policy Objectives ◽  
Domestic Regulation ◽  
The Eu

EC—Seal Products raises an important issue in World Trade Organization (WTO) law: How can WTO trea-ties be interpreted to accommodate divergent legitimate purposes of a domestic regulation? The European Union (EU) measure at issue is a ban on the placing of seal products on the EU market, coupled with excep-tions3 for seal products produced by Inuit and other indigenous communities (IC exception), and for seal products obtained from seals hunted for the purpose of marine resource management and sold on a nonprofit basis (MRM exception). The seal ban was imposed out of the public concern over the cruel manner in which seals are hunted and killed, whereas the IC exception was made to protect the traditional lifestyle of indigenous peoples and the MRM exception accommodated theneed for sustainable management of marine resources. The EU regulation, therefore, was designed to achieve divergent policy objectives. The exceptions derogate from the ban because they permit hunting and killing of seals which can cause the very pain andsuffering for seals that concerns the EU public.

Conditions and prospects for cooperation between Polish and Ukrainian local governments

2021 ◽  
Vol 19 (4) ◽  
pp. 221-241
Author(s):  
Mariusz W. Sienkiewicz
Keyword(s):  
Local Government ◽  
Local Governments ◽  
Economic Life ◽  
The European Union ◽  
Public Authorities ◽  
The Public ◽  
Political Transformations ◽  
The Social ◽  
Common Goals ◽  
The Eu

The fact that Poland and Ukraine share a border, the convergence of the political goals of the peoples of both countries, and the constant efforts towards the development of democracy and decentralisation of public life determine the need to intensify cooperation in various areas of the functioning of society and the economy. An important sphere of cooperation is the public sector, in particular at the level of local government. The local government cooperation of both countries was already visible at the beginning of the social and political transformations after 1990. The development of this cooperation, with varying results, took place in the 1990s and, to an even greater extent, after Poland’s accession to the European Union. In the last three decades, local and regional communities in Ukraine have become an important partner for Polish local governments, both at the local and regional levels. The local government cooperation that has been implemented is based on the diversification and multidimensionality of forms and models. Some result from legal regulations, while others are based on mutual experiences, previous contacts, and sympathies of public authorities. The aim of the study is to analyse and present the conditions and forms of Polish-Ukrainian local government cooperation. The aim is also to show the barriers to cooperation and to define proposed solutions to improve partner contacts of territorial units. The local government cooperation of the two countries is undoubtedly hindered by the fact that Ukraine is not a member of the EU, and often by mutual misunderstanding and non-acceptance of historical experiences. On the other hand, common goals at different levels of social, public, and economic life are a significant factor motivating parties to increase cooperation and achieve a synergistic effect thanks to it.

Wie die EU den Weg aus der „Pandemie-Krise“ findet: Lehren aus der Krisenpolitik nach 2008

IG ◽  
2021 ◽  
Vol 44 (4) ◽  
pp. 328-335
Author(s):  
Hartmut Marhold
Keyword(s):  
Debt Crisis ◽  
Financial Economic ◽  
Learning System ◽  
The European Union ◽  
Investment Bank ◽  
The Public ◽  
Active Player ◽  
European Investment ◽  
The Eu

The European Union (EU) invests huge resources in overcoming the pandemic crisis and does so as a learning system: The Union learned lessons from the previous, the financial, economic and state debt crisis after 2008, in many ways. The EU assumes now definitely the role of an active player in the economy, leaving behind the neoliberal doctrine; she suspends the restrictive budgetary policy, which prevented already in 2008 and the following years adequate solutions; she reshaped the control over its financial aid programmes so that harsh conflict between member states („troika“) are mitigated; the Union further refined the public private partnership mechanisms established unter the aegis of the European Investment Bank (EIB); the European Central Bank (ECB) assumes now a role still disputed after 2008; the flexibility clauses of the Lisbon Treaty, just put into force after 2008, are now extensively applied; and, more than anything else, the Union aims at a change of paradigm by putting the NextGenerationEU programme at the service of sustainable development (enshrined in the Green Deal).

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