EC regulation of corporate governance
By: Andrew Johnston.
Series: International corporate law and financial market regulation
Publisher: Cambridge University Press
Published: 2009
Place of publication: New York
Language: eng
ISBN-13: 9780521876674
Subjects: Corporate governance -- Law and legislation -- European Union countries; Capital market -- Law and legislation -- European Union countries; Conflict of laws -- Corporations -- European Union countries
Description: "Andrew Johnston examines EC regulation of national corporate governance systems through the lenses of economic theory and reflexive governance. By contrasting the normative demands of the neoclassical 'agency' model with those of the productive coalition model, he shows how their incompatibility required political compromise. Reflexive governance theory is then used to explain how progress has been possible. Through detailed analysis of both case law and positive regulation, the author highlights the move from positive to negative integration; the benefits as well as the limits of regulatory competition; and the significant role of reflexive techniques in both preventing market failure and enabling positive integration to proceed. The workable compromise that has emerged between market integration and continued regulatory diversity at national level demonstrates that procedural regulation can steer autonomous social subsystems towards greater responsibility and a better articulation of the public good"--Provided by publisher.
Notes: Includes bibliographical references and index.
Table of contents: title: Machine generated contents note: 1. Introduction; Part I. Theories of Corporate Governance: 2. The shareholder value model; 3. The productive coalition model; Part II. Supranational Regulatory Techniques: 4. Harmonisation; 5. Negative integration; 6. Variety and integration: reflexive corporate governance regulation; Part III. EC Regulation of Corporate Governance: 7. The European company statute and the takeover directive; 8. Capital market regulation; 9. 'Labour law' regulation; 10. 'Soft law'; 11. Conclusion: the genius of EC corporate governance regulation.