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It is commonplace to speak of 'Europe' as a major player in the
global marketplace. In reality, however, persistent conflicts among
the company and securities law regimes of the various Member States
continue to hamper the full emergence of the EU as an economic
power on a par with the US and China. Progress is under way,
however, as this book amply testifies. In the wake of the Financial
Services Action Plan (1999) and the Company Law and Corporate
Governance Action Plan (2003), a series of EU regulations and ECJ
cases has significantly eroded the national barriers to
cross-border legal entities within the Union. The authors of these
nine essays - leading academics from Denmark, Germany, Italy, The
Netherlands, Norway and the UK - acknowledge and analyze this
progress. Most demonstrate why they think further regulatory
harmonization is essential, although some warn of potential dangers
and pitfalls along the way. All in all, "European Company Law in
Accelerated Progress" is a powerfully thought-provoking
contribution to an important debate. Among the issues that arise
are the following: shareholders' rights; cross-border voting;
corporate governance; disclosure; corporate restructuring;
conflicts of interest; equity capital provision; and shareholders
versus stakeholders. As a penetrating evaluation of the EU's
capability to improve its corporate regulatory infrastructure and
thereby attract more investors and business activities within its
territory as a whole, this book offers securely grounded and
valuable insights to all those interested in the field, from
economic policymakers at every level of government to business
persons and their counsel. Most of the essays here presented were
originally delivered as papers at a conference organized by the
Centre for European Company Law in Leiden, The Netherlands, in
September 2005. The lectures are here offered in an updated and
more elaborate form.
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