EC Regulation of Corporate Governance
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- Author: Andrew Johnston, University of Queensland
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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.Read more
- Examines a number of areas in which the EC intervenes in national systems of corporate governance, drawing together case law and positive regulation in a single volume
- Offers detailed economic arguments for moving beyond a narrow focus on shareholder value, thus providing readers with a clear and concise account of the agency and productive coalition models of corporate governance and their normative implications
- Thorough analysis of the rationales for EC intervention and the goals pursued allows readers to understand EC company law and corporate governance in its broader legal, social and economic context
- Sets out a detailed account of reflexive regulatory techniques and examines the way in which they have been used in the EC context, offering readers an accessible entry point to the latest debates about reflexive governance
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- Date Published: June 2010
- format: Adobe eBook Reader
- isbn: 9780511763922
- availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
Table of Contents
Part I. Theories of Corporate Governance:
2. The shareholder value model
3. The productive coalition model
Part II. Supranational Regulatory Techniques:
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.
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