It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. "Playing at Acquisitions" provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments.

Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts; acknowledge and even embrace uncertainty; identify the value of the real options embedded in targets; and more.

Rooted in economic theory and featuring numerous real-world case studies, "Playing at Acquisitions" will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.

This innovative book provides non-native English speakers with the English language skills necessary to carry out their legal studies and professional activities effectively. It focuses specifically on the legal language required in two major areas of law central to international business law, drawing on examples from English, American and European legal materials. Fully class-tested, it employs an interactive methodology widely accepted in English language teaching.

This book reconceptualises the role of the general meeting and shareholders in the listed companies in four leading common law jurisdictions in Asia (Singapore, Hong Kong, India and Malaysia) as one that should include fiduciary duties. It demonstrates why, when, by whom and how fiduciary duties should be imposed and how they could be enforced. In so doing, it refutes the long-standing common law rule that shareholders can generally vote as they please. The book advances the debate on a central notion of corporate law, namely, the interests of the company. It addresses the deficiencies in the law regulating conflicts of interest involving controlling shareholders and institutional shareholders and provides solutions to the problem of activist and passive minority institutional investors. This book challenges us to rethink the meaning and implementation of the long-term success of the company and shows how corporate governance should and could be made.

This book focuses on the socio-political environment that allows for the impactful work of NGOs through their proximity to local communities. The book showcases how this space has helped South African women's rights NGOs to bring about crucial legal reforms, which are quite relevant to women's lived realities. Recognizing its limitations, the South African state encourages NGOs to work freely on the ground and with state institutions to ameliorate the conditions for women's rights. The outcome of this state-NGO dynamic can be seen in the numerous human rights gains achieved by NGOs in general, and by women's rights organizations specifically. In addition, vulnerable communities such as women living under customary law have a significantly better chance to access justice. The book then demonstrates the opposite scenario, using Egypt as a case study, where NGOs are viewed as a national threat, and consequently operate under restrictive rules.

This compelling volume considers three significant modern developments: the ever-changing role of women in society; a significant and growing dissatisfaction with current dominant understandings of corporate governance, corporate law and corporate theory; and the increasing concern to establish sustainable business models globally. A range of female scholars from across the globe and from different disciplines interconnect these ideas in this unique collection of new and thought-provoking essays. Readers are led through a carefully planned enquiry focussing initially on female activism and the corporation, secondly on liberal attempts to include women in business leadership and, finally, on critiquing the modern focus on women as a 'fix' for ethical and unsustainable business practises which currently dominates the corporate world. This collection presents a fresh perspective on what changes are needed to create the sustainable corporation and the potential role of women as influencers or as agents for these changes.

This book provides an overview of the Second Council Directive 77/91/EEC of 13 December 1976 (also known as the Capital Directive) and its implementing rules in each Member State of the European Union and the European Economic Area. It provides companies and advisors with useful insights regarding articles of association and related documents, the incorporation and capital requirements of European companies with limited liability and the rules applicable to the acquisition and pledge of their own shares, the cross-participations, the financial assistance and the distribution of profits. A general report on the Capital Directive is followed by a discussion of the implementation of the rules laid down in the Directive in the national laws of each Member State, each in accordance with a common format and contributed by a practitioner from that State.

When running your own business, it can be easy to believe that contracts can wait. But getting the best (or avoiding the worst) from contracts is often a major factor in how well and how quickly a business succeeds. This book, from legal expert and entrepreneur Charles Boundy, provides business owners and managers with everything they need to stay on top of contracts and avoid getting bogged down in legalese. The book gives an easy-to-follow overview of: - how to make or avoid making a contract - what to include and what to look for in contracts - how to have a contract achieve what you want at the price you have agreed - how to identify and manage major contract risks - how to approach the negotiation of key issues - how to draft and manage a contract to best effect - what to do (and not do) if things go wrong. A focused guide for the time-pressed, this is an indispensable tool for all businesses. Read it and stay successfully on top of the many contractual issues that businesses face every week.

"Wenn man eine Erkenntnis als Wissenschaft d- stellen will, so muss man zuvor das Untersch- dende, was sie mit keiner andern gemein hat, und was ihr also eigentumlich ist, genau bestimmen konnen; widrigenfalls die Grenzen aller Wiss- schaften in einander laufen, und keine derselben, ihrer Natur nach, grundlich abgehandelt werden 1 kann. " 1. 1 What Does Corporate Finance Law Mean? The law of corporate finance has been defined in a modern and more holistic way in this three-volume book. In this book, corporate finance law is studied from the perspective of the firm. Like modern commercial law in general, the law of cor- rate finance helps the firm to reach its legal objectives (management of cash flow and the exchange of goods, management of risk, management of agency relati- ships, and management of information). When trying to reach its legal objectives, the firm typically applies generic legal tools and practices (incorporation and choice of business form, contracts, regulation of internal processes through c- pliance and otherwise, typical ways to manage agency relationships, and typical ways to manage information problems) and takes into account legal rules that - long to different traditional fields of law (contract law, company law, banking law, 2 tax law, competition law, and so forth). In corporate finance law, these legal tools 1 Immanuel Kant, Prolegomena (1783), 1."

Ausufernde Vergutungen fur Vorstande von boersennotierten Aktiengesellschaften entsprechen einem oeffentlichen Vorurteil. Das gilt gerade dann, wenn die Gesellschaften selbst zuvor keine ebenso hohen Gewinne erwirtschafteten oder die Boersenkurse ins Wanken gerieten. Auch sonst sorgten millionenhohe Vergutungen oft fur oeffentliches Unverstandnis. Aus diesem Grund hat der europaische Gesetzgeber mit Erlass der zweiten Aktionarsrechterichtlinie (2. ARRL) einen weiteren Regulierungsversuch unternommen, um diesem Phanomen einen Riegel vorzuschieben. In Deutschland wurde die Richtlinie durch das zweite Aktionarsrechterichtlinien-Umsetzungsgesetz (ARUG II) in nationales Recht uberfuhrt. In unmittelbarem Zusammenhang damit wurde auch der Deutsche Corporate Governance Kodex in seiner ab 2020 geltenden Fassung (DCGK 2020) deutlich uberarbeitet. Auf der Basis dieser Neuerungen wertet dieses Werk aus, ob bekannte Probleme der Vergutung geloest wurden. Zudem wird die neue Gesetzeslage kritisch gewurdigt. Abschliessend wird auf die impliziten Auswirkungen eingegangen.

Die vorliegende Arbeit setzt sich mit der datenschutzrechtlichen Einwilligung im Beschaftigungskontext auseinander. Mithin stellt sie ein Thema auf den Prufstand, das neben verfassungsrechtlichen Aspekten wie dem Recht auf informationelle Selbstbestimmung aus Art. 2 Abs. 1 i.V.m. Art. 1 Abs. 1 GG auch spezifisch arbeitsrechtliche Aspekte, wie die Auswirkungen des typischen UEber- und Unterordnungsverhaltnisses zwischen Arbeitgeber und Arbeitnehmer auf die Freiwilligkeit der Einwilligung, umfasst. Diese Arbeit verfolgt im Wesentlichen zwei Ziele: Zum einen sollen die Voraussetzungen einer wirksamen Einwilligung aus der Verfassung herausgearbeitet werden. UEberdies soll diese Arbeit zur nationalen Diskussion um die Bedeutung der Einwilligungserklarung im Beschaftigtenkontext beitragen, indem sie Unsicherheiten in Bezug auf die Umsetzung der Wirksamkeitserfordernisse beseitigt. Ein Bereich, in dem Einwilligungen im Beschaftigungsverhaltnis relevant werden koennen, ist der Einsatz von in die Haut implantierten Mikrochips, beispielsweise zum OEffnen von Turen, zur Zeiterfassung sowie zum Bezahlen in der Kantine. Anhand dieser drei Beispiele wird die Einwilligung im Beschaftigungsverhaltnis exemplifiziert.

Church and state: a simple phrase that reflects one of the most famous and fraught relationships in the history of the United States. But what exactly is "the church," and how is it understood in US law today? In Church State Corporation, religion and law scholar Winnifred Fallers Sullivan uncovers the deeply ambiguous and often unacknowledged ways in which Christian theology remains alive and at work in the American legal imagination. Through readings of the opinions of the US Supreme Court and other legal texts, Sullivan shows how "the church" as a religious collective is granted special privilege in US law. In-depth analyses of Hosanna-Tabor v. EEOC and Burwell v. Hobby Lobby reveal that the law tends to honor the religious rights of the group-whether in the form of a church, as in Hosanna-Tabor, or in corporate form, as in Hobby Lobby-over the rights of the individual, offering corporate religious entities an autonomy denied to their respective members. In discussing the various communities that construct the "church-shaped space" in American law, Sullivan also delves into disputes over church property, the legal exploitation of the black church in the criminal justice system, and the recent case of Masterpiece Cakeshop v. Colorado Civil Rights Commission. Brimming with insight, Church State Corporation provocatively challenges our most basic beliefs about the ties between religion and law in ostensibly secular democracies.

This discussion of the Cross-Border Merger Directive and its implementing legislation in each Member State of the European Union and the European Economic Area provides companies and their advisors with useful insight into the legal framework applicable to, and the tax treatment of, cross-border mergers throughout the European Economic Area. Analysis of the Community rules laid down in the Cross-Border Merger Directive and the Community rules on the tax treatment of cross-border mergers is complemented by chapters on the implementing legislation in each Member State, prepared in accordance with a common format and contributed by a practitioner from each state. Annexes contain the Cross-Border Merger Directive (Annex I), the Parent-Subsidiary Directive (Annex II) and a list of the implementing legislation in each Member State (Annex III).

Diese Open-Access-Publikation vermittelt Personen aus Wirtschaft und Lehre durch pragmatische und fokussierte Darstellungsweise sowohl die Grundsystematik der Organhaftung als auch die in der Praxis ausserst relevante Problematik der Organhaftung bei unklaren Rechtslagen. Gleichzeitig wird durch Auslegung der Legalitatspflicht untersucht, ob der gegenwartig in der Rechtsprechung verfolgte Ansatz zur Loesung der Frage nach einer Haftungsprivilegierung bei unklaren Rechtslagen dogmatisch sinnvoll ist oder ob nicht gegebenenfalls durch Rechtsfortbildung ein praktisch und dogmatisch sinnvollerer Loesungsansatz gefunden werden kann.

As long as insider trading has existed, people have been fixated on it. Newspapers give it front page coverage. Cult movies romanticize it. Politicians make or break careers by pillorying, enforcing, and sometimes engaging in it. But, oddly, no one seems to know what's really wrong with insider trading, or - because Congress has never defined it - exactly what it is. This confluence of vehemence and confusion has led to a dysfunctional enforcement regime in the United States that runs counter to its stated goals of efficiency and fairness. In this illuminating book, John P. Anderson summarizes the current state of insider trading law in the US and around the globe. After engaging in a thorough analysis of the practice of insider trading from the normative standpoints of economic efficiency, moral right and wrong, and virtue theory, he offers concrete proposals for much-needed reform.

Millennials have come of age in an era when environmental and social crises have defined much of their adult lives, as has the recurrent message that time is of the essence. Future generations will bear the greatest burden created by climate change, pandemics, and inequality, but often they are not in positions of power to make impactful decisions about it. This book gives voice to young lawyers offering new critical perspectives in the burgeoning field of corporate law and sustainability. Climate change is an intergenerational crisis, and the solutions and path forward must include intergenerational voices. Millennials are rising in power at a critical juncture in our climate and corporate history, and their perspectives stand apart from those who have been trained into myopic views of what constitutes change. These essays challenge the status quo across a number of pressing topics, including executive compensation, board diversity, decolonialization, crowdfunding, social media risk, corporate lobbying, shareholder activism, tax avoidance, global supply chain management, and human rights, written with a level of thoughtfulness and urgency that demands attention from policymakers and scholars alike. Edited by Carol Liao, a leading expert in the field, and with a foreword by author and filmmaker of The Corporation and The New Corporation Joel Bakan, this book offers timeless research from a diverse group of young lawyers calling for bona fide corporate accountability within legal and regulatory frameworks, including innovative ideas for reform.

Die Kenntnis der rechtlichen Rahmenbedingungen ist fur Geschaftsfuhrer unerlasslich, wenn sie ihre Aufgaben ordnungsgemass erfullen und Handlungsspielraume effektiv nutzen wollen. In dem Band werden zunachst die wichtigsten Aufgaben und ihre rechtlichen Grundlagen erlautert. Im zweiten Teil des Ratgebers steht der Anstellungsvertrag im Mittelpunkt, haftungs- und strafrechtliche Folgen werden im dritten Teil detailliert dargestellt. Die Neuauflage berucksichtigt die GmbH-Reform nach dem MoMiG. Mit Fallbeispielen, Tipps und Vertragsmustern.