Codes and Model Laws: A EU-US Comparison of Their Role in Shaping Company Law

IF 0.5 Q3 LAW European Company Law Pub Date : 2022-03-01 DOI:10.54648/eucl2022007
Raluca Papadima
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Abstract

This article analyses the particular role played by soft law instruments (such as codes of corporate governance, codes of conduct, model law and other non-binding instruments) in sharping the legal framework applicable to European and American companies. It concludes that soft law is a very popular and successful girl nowadays, for legitimate reasons, but one that brings about a series of concerns as well. This article finds that soft law instruments upset the traditional hierarchy of sources of law and the distinction between civil law and common law countries. It also observes that soft law converges, and, in turn, provokes further convergence of the legal framework. Finally, it exemplifies (and criticizes) instances of transformation of soft law into hard law, accompanied by a general phenomenon of hardening of the legal framework, including because instruments sometimes labelled ‘soft law’ are in reality closer in effect to hard law. soft law, company law, corporate governance codes, codes of conduct, directives, regulations, recommendations, green papers, comply or explain, EMCA, MBCA, ALI Principles
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法典与示范法:欧盟与美国在公司法制定中的作用比较
本文分析了软性法律文书(如公司治理准则、行为准则、示范法和其他不具约束力的文书)在完善适用于欧洲和美国公司的法律框架方面所发挥的特殊作用。它得出的结论是,软法律是当今非常受欢迎和成功的女孩,这是有正当理由的,但也带来了一系列担忧。本文发现,软性法律文书打破了传统的法律渊源等级制度以及民法和普通法国家之间的区别。它还注意到,软法律趋同,反过来又促使法律框架进一步趋同。最后,它举例说明(并批评)了软法向硬法转变的例子,伴随着法律框架硬化的普遍现象,包括因为有时被称为“软法”的文书实际上更接近硬法,绿皮书、遵守或解释、EMCA、MBCA、ALI原则
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