Company Law And Economic Protectionism "New Challenges To European Integration"

New Challenges To European Integration

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Bernitz, Ulf, Ringe, Wolf-Georg

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ISBN:9780199591459
Editorial: Oxford University Press.
Fecha de la edición:2010
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Dimensiones: 0 cm x 0 cm
Nº Pág.:392
Idiomas:Ingles

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/ Unión Europea

The financial crisis has brought about a revival of state protectionism across the globe. Most Western leaders have made a virtue of big government and state intervention; bail-outs and Sovereign Wealth Funds have been among the first responses to the economic contraction. Company law rules are one of the instruments frequently used to restrict or to discourage integration or to deter foreign investment. Examples for the new protectionism can be seen in a wide range of legislative and regulatory measures, for instance state measures preventing foreign takeovers, 'golden shares' or laws on foreign direct investment targeting Sovereign Wealth Funds, mainly from Asia. This book presents timely research by a number of company law and EU law experts into this field of law. The chapters cover a broad range of topics, spanning from takeovers/mergers over the one share-one vote debate through to the foreclosure of markets against Sovereign Wealth Funds.

1. Introduction; PART I: EU LAW AND ECONOMIC PROTECTIONISM; 2. European Company and Financial Law: Observations on European Politics, Protectionism, and the Financial Crisis; 3. Is 'Protectionism' a Useful Concept for Company Law and Foreign Investment Policy? An EU Perspective; 4. Protectionism, Capital Freedom and the Internal Market; 5. When the State is the Owner: some further comments on the Court of Justice 'golden shares' strategy; PART II: TAKEOVERS AND MERGERS; 6. The Takeover Directive as a Protectionist Tool?; 7. Varieties of Corporate Governance and Reflexive Takeover Regulation; 8. Cross-Border Restructuring - Company Law between Treaty Freedom and State Protectionism; 9. Mechanisms of Ownership Control and the Issue of Disproportionate Distribution of Power; PART III: COMPANY LAW AND FORECLOSURE OF MARKETS; 10. Deviations from Ownership-Control Proportionality - Economic Protectionism Revisited; 11. Deviations from Ownership-Control Proportionality - Private Benefits and the Bigger Picture; 12. Sovereign Wealth Funds - Market Investors or 'Imperialist Capitalists'? The European response to direct investments by non-EU state-controlled entities; 13. Sovereign Wealth Funds: Neither Market Investors Nor 'Imperialist Capitalists': A Response to Heike Schweitzer; PART IV: HOW TO OVERCOME ECONOMIC PROTECTIONISM?; 14. The European Model Company Act (EMCA): A new way forward; 15. The Role of European Regulation and Model Acts in Company Law; 16. How Does the Market React to the Societas Europaea?; 17. Empirical Notes on the Societas Europaea