Suchergebnisse

Während Unternehmensgruppen in Westeuropa Gegenstand intensiver, auch rechtsvergleichender Forschung und lebhafter rechtspolitischer Diskussionen sind, lassen sich Kenntnisse über Unternehmensgruppen in mittel- und osteuropäischen Ländern häufig nur mit beträchtlichem Aufwand und bisher nur für einzelne Länder gewinnen.Wie entstehen und verhalten sich Unternehmensgruppen in diesen Transformationsländern? Führende Wissenschaftler aus Mittel-, Ost- und Westeuropa untersuchen dies aus rechtlicher und ökonomischer Sicht.Dieser Band enthält die Beiträge eines Symposions, das 2000 in Hamburg stattfand, und die dort erarbeiteten Vorschläge unter Berücksichtigung zwischenzeitlicher Rechtsänderungen.InhaltsübersichtKlaus J. Hopt und Katharina Pistor: Company Groups in Transition Economies: A Case for Regulatory Intervention? – Chritsa Jessel-Holst: Regulatory Approaches to Groups of Companies in States in Transition in Central and Eastern Europe – Peter Hommelhoff: Protection of Minority Shareholders, Investors and Creditors in Corporate Groups: the Strenghts and Weaknesses of German Corporate Group Law – Marcus Lutter: Minderheiten- und Gläubigerschutz im Konzern: Regelungsansätze in der Europäischen Union – Stanislaw Soltysinski und Andrzej Szumanski: Shareholder and Creditor Protection in Company Groups under Polish Law – Eddy Wymeersch: Financial Institutions as Members of Company Groups in the Law of the European Union – Michal Tomasek: Finanzsituationen als Teil von Finanzgruppen in Tschechien – Meinrad Dreher: Groups of Undertakings and Competition – Regulatory Approaches in Europe – Anna Fornalczyk: Company Groups and Development of Competition in Poland – Tomas Sandor und Tomas Sarközy: Regulatory Approaches to Groups of Companies in Hungary – Sinisa Petrovic: The Legal Regulation of Company Groups in Croatia – Sorin David: Company Groups in Romania: Current Status and Legal Implications – Tania Buseva: Unternehmensgruppen in Bulgarien – Sime Ivanjko: Verbundene Gesellschaften in Slowenien – Lubos Tichy und Jaroslav Salac: Das neue tschechische Konzernrecht im Vergleich

The importance of law and legal institutions for economic development is widely acknowledged today. The invention of credit mechanisms to support long-distance trade has been hailed as one of the preconditions for the development of capitalism in Europe. The corporate form is regarded as another milestone for industrialization, the creation of viable market economies, and ultimately economic prosperity. Many former socialist countries quickly enacted new corporate codes or revived their pre-World War Two ("WWII") legislation. The failure of major privatization efforts to enhance enterprise efficiency is attributed to weaknesses in corporate governance, of which the corporate law is a crucial element. Similarly, improvements in corporate governance have become a major goal for economies in East and South East Asia that were hit by the 1997-98 East Asian financial crisis.

This is an Open Access Article. It is published by Elsevier under the Creative Commons Attribution 4.0 International Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/ ; Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates for inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the state are criticized here, because they typically assume relatively small numbers of agents and underplay the complexity and uncertainty in developed capitalist systems. In developed capitalist economies, law is sustained through interaction between private agents, courts and the legislative apparatus. Law is also a key institution for overcoming contracting uncertainties. It is furthermore a part of the power structure of society, and a major means by which power is exercised. This argument is illustrated by considering institutions such as property and the firm. Complex systems of law have played a crucial role in capitalist development and are also vital for developing economies.

Social scientists have paid insufficient attention to the role of law in constituting the economic institutions of capitalism. Part of this neglect emanates from inadequate conceptions of the nature of law itself. Spontaneous conceptions of law and property rights that downplay the role of the state are criticized here, because they typically assume relatively small numbers of agents and underplay the complexity and uncertainty in developed capitalist systems. In developed capitalist economies, law is sustained through interaction between private agents, courts and the legislative apparatus. Law is also a key institution for overcoming contracting uncertainties. It is furthermore a part of the power structure of society, and a major means by which power is exercised. This argument is illustrated by considering institutions such as property and the firm. Complex systems of law have played a crucial role in capitalist development and are also vital for developing economies.

The studies in this two-volume work shed new light on the range and viability of the emerging corporate governance institutions in the transitional economies of Central Europe. Regional specialists and experts on corporate governance in advanced economies examine the emerging forms of ownership and complementary monitoring institutions in leading transition companies

Introduction : forms of pluralism and democratic constitutionalism / Andrew Arato and Jean L. Cohen -- Federation, confederation, territorial state : debating a post-imperial future in French West Africa, 1945-1960 / Fred Cooper -- Decolonization and postnational democracy / Gary Wilder -- From the American system to Anglo-Saxon union : scientific racism and supra-nationalism in nineteenth-century North America / Joshua Simon -- Constitutions and forms of pluralism in the time of conquest : the French debates over the colonization of Algeria in the 1830s and 1840s / Emmanuelle Saada -- The constitutional identity of indigenous peoples in Canada : status groups or federal actors? / Patrick Macklem -- Federacy and the Kurds : might this new political form help mitigate Hobbesian conflicts in Turkey, Iraq, and Syria? / Alfred Stepan and Jeff Miley -- Europe-what's left : towards a progressive pluralist program for EU reform / Robert Howse -- Subsidiarity and the challenge to the sovereign state / Nadia Urbinati -- Indian secularism and its challenges / Christophe Jaffrelot -- Tainted liberalism : Israel's millets / Michael Karayanni -- Jurisdictional competition and internal reform in Muslim family law in Israel and Greece / Yuksel Sezgin -- Corporate legal particularism / Katharina Pistor -- Tax competition and the unbundling of sovereignty / Tsilly Dagan -- The politics of horizontal inequality : indigenous opposition to wind energy development in Mexico / Courtney Jung -- Conclusion : territorial pluralism and language communities / Astrid von Busekist

Frontmatter -- Contents -- Introduction -- Part I: Framework -- CHAPTER ONE. What Is Good Corporate Governance? -- PART II. The Elements of Good Corporate Governance: Law -- CHAPTER TWO. Patterns of Legal Change: Shareholder and Creditor Rights in Transition Economies -- CHAPTER THREE. The Common Law and Economic Growth: Hayek Might Be Right -- PART III. The Elements of Good Corporate Governance: Owners and Managers -- CHAPTER FOUR. Russian Privatization and Corporate Governance: What Went Wrong? -- CHAPTER FIVE. Why Ownership Matters: Entrepreneurship and the Restructuring of Enterprises in Central Europe -- PART IV. The Elements of Good Corporate Governance: Stock Markets -- CHAPTER SIX/ Corporate Governance in Transitional Economies: Lessons from the Prewar Japanese Cotton Textile Industry -- CHAPTER SEVEN. Privatization and Corporate Governance: The Lessons from Securities Market Failure -- CHAPTER EIGHT. The Information Content of Stock Markets: Why Do Emerging Markets Have Synchronous Stock Price Movements? -- PART V. What Does Transition Contribute to Theory? -- CHAPTER NINE. Conclusion: The Unexplored Role of Initial Conditions -- List of Contributors -- Index