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The Current Challenges for EU Company and Financial Law and Regulation

Author

Listed:
  • Autenne Alexia

    (Business and Financial Law SIG, Green Paper, European Law Institute (ELI), Vienna, Austria)

  • Biondi Yuri

    (IRISSO, Cnrs, UMR7170, University Paris Dauphine PSL, Paris, France)

  • Cavalier Georges

    (University of Lyon, Lyon, France)

  • Cotiga-Raccah Andra

    (Catholic University of Lille, Lille, France)

  • Doralt Peter

    (WU ‒ Wirtschaftsuniversität Wien, Wien, Austria)

  • Haslam Colin

    (Queen Mary University of London, London, UK)

  • Horak Hana

    (Faculty of Economics, University of Zagreb, Zagreb, Croatia)

  • Malberti Corrado

    (Trento University, Trento, Italy)

  • Philippe Denis

    (Catholic University of Louvain, Louvain, Belgium)

  • Sergakis Konstantinos

    (University of Glasgow School of Law, Glasgow, UK)

  • Schmidt Jessica

    (Bayreuth University, Bayreuth, Germany)

Abstract

European company and financial law and regulation have been evolving over time along with business and financial practices. The resulting ‘social licence’ established by company and financial law and regulation aimed to balance the granted privileges of limited liability and share transferability with the corporate social contribution to economic development and employment. Recent transformations driven by shareholder value and financialisation have been challenging this balance of interests between stakeholders (including employees and shareholders) and society. The EU institutional framework may respond to these challenges by reaffirming the centrality of the enterprise as a going concern. On this basis, corporate accountability and responsibility may be enforced to make ongoing corporate affairs accountable and responsible for their contribution to economy and society. Ongoing corporate capacity to cope with social and environmental responsibilities may be assured along with the fair and sustainable remuneration of stakeholders, including shareholding investors, and a fair tax contribution. The EU institutional design and policy mix may be organised to respond to this comprehensive set of corporate dimensions. Here the most relevant fields to be reconsidered include: enterprise groups and corporate social responsibility; financial reporting and transparency; financial investment and asset management.

Suggested Citation

  • Autenne Alexia & Biondi Yuri & Cavalier Georges & Cotiga-Raccah Andra & Doralt Peter & Haslam Colin & Horak Hana & Malberti Corrado & Philippe Denis & Sergakis Konstantinos & Schmidt Jessica, 2018. "The Current Challenges for EU Company and Financial Law and Regulation," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 8(3), pages 1-12, December.
    • Handle: RePEc:bpj:aelcon:v:8:y:2018:i:3:p:12:n:3
    DOI: 10.1515/ael-2017-0064
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    References listed on IDEAS

    as
    1. Strasser Kurt A. & Blumberg Phillip, 2011. "Legal Form and Economic Substance of Enterprise Groups: Implications for Legal Policy," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-30, January.
    2. repec:idq:ictduk:11172 is not listed on IDEAS
    3. Stout Lynn A., 2011. "Risk, Speculation, and OTC Derivatives: An Inaugural Essay for Convivium," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 1(1), pages 1-15, January.
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