Regulatory Competition in European Corporate and Capital Market Law

This book deals with the endeavor of national and supranational legislators to develop more attractive corporate legal forms and investment frameworks. It focuses on some recent national corporate law reforms, the newly introduced European legal form Societas Europaea and the choice of law in corporate debt securities.

Author(s):
Lars Hornuf
Series:
European Studies in Law and Economics (EDLE)
Volume:
7
book | published | 1st edition
January 2012 | xi + 149 pp.

Paperback
€55.-


ISBN 9781780680460


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Details

This book deals with regulatory competition in corporate and capital market law in Europe, i.e. the endeavor of national and supranational legislators to develop more attractive corporate legal forms and investment frameworks. It focuses on some recent national corporate law reforms, the newly introduced European legal form Societas Europaea and the choice of law in corporate debt securities. It combines legal reasoning and advanced econometric techniques to investigate the virtues of regulatory competition in Europe. As it turns out, the merits of regulatory competition in corporate and capital market law are not straightforward but have to be evaluated on a case by case basis.


About this book

‘In assessing the empirics of regulatory competition in Europe, the book provides interesting insight on regulatory competition issues at different points in time. The book's findings will be of interest both to legal scholarship, and law and economics scholarship.’
Pierre Schammo in European Law Review 723 (2013)

‘[…]Altogether, Hornuf’s book provides an interesting and enriching overview of
different aspects of regulatory competition in European corporate and capital market
law. It is well written and comprehensible, not only to economists but also to lawyers. […]’
Alexander Hellgardt in Springer Journal 577 (2016)



Chapters

Table of Contents (p. 0)

1. Introduction (p. 1)

2. Does Charter Competition Foster Entrepreneurship? A Difference-in-Difference Approach to European Company Law Reforms (p. 7)

3. Incorporating under European Law: The Societas Europaea as a Vehicle for Legal Arbitrage (p. 33)

4. How Does the Market React to the Societas Europaea? (p. 65)

5. Where Do Firms Issue Debt? An Empirical Analysis of Issuer Location and Regulatory Competition in Europe (p. 81)

6. Choice of Law in Debt Securities: A Case Study of French, German and Italian Issues 1998–2008 (p. 117)

7. Conclusion (p. 137)

References (p. 141)

About the series:

European Studies in Law and Economics (EDLE)

The series European Studies in Law and Economics is devoted to further the understanding of Law and Economics in Europe. The volumes published in this series present an interdisciplinary perspective on the effects of laws on people’s behaviour and on the economic system. The ample topics address a wide audience, including policy makers, legislators, economists, lawyers and judges. The series is peer-reviewed.

The series is an initiative of the PhD programme ‘European Doctorate in Law and Economics’ (EDLE). The EDLE is the academic response to the increasing importance of the economic analysis of law in Europe. The programme is offered by the Universities of Bologna, Hamburg and Rotterdam in association with the Indira Gandhi Institute of Development Research, Mumbai (India). PhD students receive the unique opportunity to study law and economics in three different countries. The programme prepares economists and lawyers of high promise for an academic career in a research field of growing importance or for responsible positions in government, research organisations and international consulting firms.

The European Commission sponsors the EDLE as an excellence programme under the prestigious Erasmus Mundus scheme. For further information please visit: www.edle-phd.eu.

The editorial board of the series consists of Prof. Dr. Michael G. Faure (Erasmus University Rotterdam), Prof. Dr. Luigi A. Franzoni (University of Bologna) and Prof. Dr. Stefan Voigt (University of Hamburg).

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