This book deals with regulatory competition in corporate and capital market law in Europe, i.e. the endeavor of national and supranational legislators to develop more attractive corporate legal forms and investment frameworks. It focuses on some recent national corporate law reforms, the newly introduced European legal form Societas Europaea and the choice of law in corporate debt securities. It combines legal reasoning and advanced econometric techniques to investigate the virtues of regulatory competition in Europe. As it turns out, the merits of regulatory competition in corporate and capital market law are not straightforward but have to be evaluated on a case by case basis.
About this book
‘In assessing the empirics of regulatory competition in Europe, the book provides interesting insight on regulatory competition issues at different points in time. The book's findings will be of interest both to legal scholarship, and law and economics scholarship.’
Pierre Schammo in European Law Review 723 (2013)
‘[…]Altogether, Hornuf’s book provides an interesting and enriching overview of
different aspects of regulatory competition in European corporate and capital market
law. It is well written and comprehensible, not only to economists but also to lawyers. […]’
Alexander Hellgardt in Springer Journal 577 (2016)
1. Introduction (p. 1)
2. Does Charter Competition Foster Entrepreneurship? A Difference-in-Difference Approach to European Company Law Reforms (p. 7)
3. Incorporating under European Law: The Societas Europaea as a Vehicle for Legal Arbitrage (p. 33)
4. How Does the Market React to the Societas Europaea? (p. 65)
5. Where Do Firms Issue Debt? An Empirical Analysis of Issuer Location and Regulatory Competition in Europe (p. 81)
6. Choice of Law in Debt Securities: A Case Study of French, German and Italian Issues 1998–2008 (p. 117)
7. Conclusion (p. 137)
References (p. 141)
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