An Examination of European Corporate Governance Convergence as a Result of Harmonization Activities from the European Union

2014 ◽  
Author(s):  
Elisabetta Basilico ◽  
Guido Max Mantovani ◽  
Mattia Mestroni
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
The European Union ◽  
European Corporate Governance

scholarly journals New orientations for a European framework of corporate governance

2005 ◽  
Vol 1 (3) ◽  
pp. 7-12
Author(s):  
Viviane de Beaufort
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Global Dimension ◽  
The European Union ◽  
National Scale ◽  
Corporate Governance Codes ◽  
National Question ◽  
The Comparative Study ◽  
A Company ◽  
European Corporate Governance

The comparative study of Corporate Governance Codes relevant to the European Union and its Member-States[1], finalised in March 2002, establishes that differences remain at a national scale on corporate governances issues. Beyond the identities of national firms in European Union lies the question: is there a European corporate governance identity? At the present time, European legislation does not cover certain essential aspects of the firm: that is where the shoe pinches! What a company is and what its aims are remain a national question; in the same time transparency requirements are established on a global dimension at least for quoted companies and some new projects of Directives and Recommendations dealing with corporate governance issues attempt to create common rules or principles. This article tries to synthesise the European action in this field and to a certain extend to criticise it not to have a more ambitious project.

scholarly journals COMPLIANCE OF CORPORATE GOVERNANCE IN BOSNIA AND HERZEGOVINA WITH EUROPEAN UNION STANDARDS

2018 ◽  
pp. 340-355
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Bosnia And Herzegovina ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Quality Level ◽  
The European Union ◽  
Governance System ◽  
Governance Systems ◽  
Principles And Standards

Corporate governance provides an answer to the question who controls the corporation and how. It involves a set of relationships between management, shareholders and stakeholders. Corporate governance in Bosnia and Herzegovina is within the legal jurisdiction of entities, and consequently there are two substantially aligned and yet completely distinct corporate governance systems, which separates Bosnia and Herzegovina as a state in the international environment into a specific category in terms of corporate governance. This paper will analyze ownership concentration in order to identify the characteristics of the corporate governance systems, then it will present the principles on which the legal framework for corporate governance in Bosnia and Herzegovina is defined, compare the business transparency standards with the transparency directive in the EU, and measure the quality level of corporate governance in order to define key areas for improvement of corporate governance in Bosnia and Herzegovina. The development and characteristics of the corporate governance systems in Bosnia and Herzegovina will be explored and compared with the regulatory framework and standards of corporate governance in the European Union. Special emphasis is on comparing the transparency principles and standards of corporations in Bosnia and Herzegovina with corporations in the European Union. The aim of the research is to compare the regulatory framework and characteristics of the corporate governance system in corporations in Bosnia and Herzegovina with the standards in the European Union, to identify similarities and differences and to define key areas for improvement of corporate governance in Bosnia and Herzegovina.

scholarly journals Effect of the legal system country of European commercial banks on the financial distress

2016 ◽  
Vol 4 (2) ◽  
pp. 168
Author(s):  
Nizar Baklouti ◽  
Frédéric Gautier ◽  
François Aubert
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Legal System ◽  
Financial Distress ◽  
Commercial Banks ◽  
Common Law ◽  
Civil Law ◽  
The European Union ◽  
Financial Health ◽  
The Relationship

This study examines the effect of the legal system on the governance of banks and hence on financial distress. We compare corporate governance to the legal system in 18 countries of the European Union to explain the relationship between financial distress and bank governance. Using a sample of 147 commercial banks, we find that the effect of the legal system really counts. The results also suggest that banks operating in common law and civil law countries tend the concentration of ownership and board size to the effect of increasing the likelihood of financial distress. This study contributes to research in the governance of enterprise to provide empirical evidence that the legal system has the power to influence the financial health of banks.

Abolition of the Commercial Code of Ukraine: Potential Consequences and Necessary Prerequisites

2020 ◽  
Vol 27 (1) ◽  
pp. 100-131
Author(s):  
Natalia Kuznetsova ◽  
Oleksii Kot ◽  
Andrii Hryniak ◽  
Mariana Pleniuk
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Legal Regulation ◽  
Civil Code ◽  
International Standards ◽  
The European Union ◽  
Commercial Code ◽  
Regulatory Impact ◽  
Further Development ◽  
The Eu

The paper analyses the provisions of the Commercial Code of Ukraine, comparing them with certain provisions of the Civil Code of Ukraine and separate laws and other regulations. Considering the need to align Ukrainian legislation with the legislation of the European Union countries in legislation regarding the establishment and operation of partnerships, corporate governance, protection of shareholders, creditors and other interested parties, regarding the further development of corporate governance policy in accordance with international standards, including the gradual approximation to the rules and recommendations of the European Union in this area, it is concluded that it is advisable to abolish the Commercial Code of Ukraine by adopting the relevant law, which stipulates all necessary measures to ensure proper legal regulation of relations for the period of preparation of the relevant systemic changes to the Civil Code of Ukraine. It is proved that most of the provisions of the Civil Code of Ukraine are reference or blanket, and therefore have minimal regulatory impact and mostly duplicate the provisions enshrined in other regulations. Based on the analysis of the provisions of the Commercial Code of Ukraine, it is concluded that its provisions, given their minimal regulatory impact on business relations and considering the detailed regulation of these relations in the Civil Code of Ukraine, can be repealed without any reservations. In such settings and in order to simplify the legal regulation of business activity, as well as in view of the obligations of our country (in particular, to bring the Ukrainian legislation in conformity with the legislation of the EU countries in legislation regarding the establishment and activity of partnerships, corporate governance, protection of rights of shareholders, creditors, and other stakeholders, regarding further development of corporate governance policy in line with international standards, as well as the progressive approximation to EU rules and recommendations in this area), the expediency of abolishing the Commercial Code of Ukraine is beyond doubt

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