This paper provides an overview of the German corporate governance system. We review
the governance role of large shareholders, creditors, the product market and the supervisory …

Improving European corporate governance after Enron requires company and capital
market law reforms. This article discusses shareholder decision-making; the choice between …

The standard approach to the legal foundations of corporate governance is based on the
view that corporate law promotes separation of ownership and control by protecting non …

The development and integration of financial markets is at the forefront of academic and
policy debates around the world. Nowhere is this more in evidence than in Europe where …

Executive Overview In 2007, for the first time in recent history, the volume of mergers and
acquisitions by European companies surpassed that of their US counterparts. This paper …

This study focuses on institutional change as a determinant of entry mode. It examines the
relationship between the choices of entry implemented by firms seeking cross-border …

No one doubts any longer that sustainable development is a normative imperative. Yet there
is unmistakably a great reluctance to acknowledge any legal basis upon which companies …

This paper uses the EU takeover directive as a natural experiment to test when legal
harmonization creates value, and to examine the impact of increased entrenchment on …

English summary: Legislators are increasingly restricting the contractual freedom of the
contracting parties. Stefan Bechtold analyzes examples from contract law, consumer …

We construct a dynamic takeover law index using hand-collected data on legal provisions
and empirically examine the effect of takeover regulation to protect shareholders on …