Pub Date : 2023-10-23DOI: 10.1007/s40804-023-00299-x
Eda Şahin Şengül, Serkan Kaya
{"title":"Consumer Collective Redress in Turkey: The Need for Reform in Light of the EU Regime","authors":"Eda Şahin Şengül, Serkan Kaya","doi":"10.1007/s40804-023-00299-x","DOIUrl":"https://doi.org/10.1007/s40804-023-00299-x","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"75 9","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135413502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-18DOI: 10.1007/s40804-023-00298-y
Cem Veziroğlu, Abdurrahman Kayıklık
{"title":"The Climate Crisis and Private Companies: How to Address the Sustainability Arbitrage Problem","authors":"Cem Veziroğlu, Abdurrahman Kayıklık","doi":"10.1007/s40804-023-00298-y","DOIUrl":"https://doi.org/10.1007/s40804-023-00298-y","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135823777","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-26DOI: 10.1007/s40804-023-00297-z
Tomasz Regucki
Abstract This paper presents a critical examination of recent Polish takeover regulation from a perspective of evolution of capital market law in Poland. The study is based on both legal analysis and an empirical and statistical approach. Firstly, as a starting point, it briefly describes the mandatory bid rule and Takeover Bids Directive as well as the development of early Polish provisions. Secondly, the paper elaborates on the normative model of takeovers, which was in force until 2022. Using a case study and a comprehensive statistical examination of all mandatory bids carried out between 2008 and 2017, it shows how the unusual and incorrect legislative structure of two thresholds of control (33% and 66% of votes) allowed the actual circumvention of mandatory bids, to the detriment of minority shareholders. The paper also describes political considerations and political influences on the legislative process, which led to the failure of the 2014–2015 takeover law proposal. The core of the paper is devoted to the current takeover rules. Statistical research of ownership structures in Poland shows that the threshold of control set at 50% of votes is undoubtedly too high, which entails risks to investor protection that may arise from the adopted model. Based on research on significant holdings in Polish listed companies, the paper further elaborates on the notion of control over a public company and proposes a regulatory utility function to determine the desired threshold of control. This leads to the conclusion that the optimal regulatory threshold of control, given the characteristics of the Polish capital market, is 30% of votes.
{"title":"Polish Takeover Regulation: The Recent Chapter in the Long Story of Flawed Rules, Legislative Hesitation and Policy Mistakes","authors":"Tomasz Regucki","doi":"10.1007/s40804-023-00297-z","DOIUrl":"https://doi.org/10.1007/s40804-023-00297-z","url":null,"abstract":"Abstract This paper presents a critical examination of recent Polish takeover regulation from a perspective of evolution of capital market law in Poland. The study is based on both legal analysis and an empirical and statistical approach. Firstly, as a starting point, it briefly describes the mandatory bid rule and Takeover Bids Directive as well as the development of early Polish provisions. Secondly, the paper elaborates on the normative model of takeovers, which was in force until 2022. Using a case study and a comprehensive statistical examination of all mandatory bids carried out between 2008 and 2017, it shows how the unusual and incorrect legislative structure of two thresholds of control (33% and 66% of votes) allowed the actual circumvention of mandatory bids, to the detriment of minority shareholders. The paper also describes political considerations and political influences on the legislative process, which led to the failure of the 2014–2015 takeover law proposal. The core of the paper is devoted to the current takeover rules. Statistical research of ownership structures in Poland shows that the threshold of control set at 50% of votes is undoubtedly too high, which entails risks to investor protection that may arise from the adopted model. Based on research on significant holdings in Polish listed companies, the paper further elaborates on the notion of control over a public company and proposes a regulatory utility function to determine the desired threshold of control. This leads to the conclusion that the optimal regulatory threshold of control, given the characteristics of the Polish capital market, is 30% of votes.","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134960988","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-28DOI: 10.1007/s40804-023-00294-2
Hu Jing
{"title":"Trust Law in Macao: An Organisational Law Account","authors":"Hu Jing","doi":"10.1007/s40804-023-00294-2","DOIUrl":"https://doi.org/10.1007/s40804-023-00294-2","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":" ","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42833351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-08DOI: 10.1007/s40804-023-00296-0
B. Sheehy, H. Khan, Paramita Prananingtyas, Philein Sophiana Sunarso Putri
{"title":"Correction: Shifting from Soft to Hard Law: Motivating Compliance When Enacting Mandatory Corporate Social Responsibility","authors":"B. Sheehy, H. Khan, Paramita Prananingtyas, Philein Sophiana Sunarso Putri","doi":"10.1007/s40804-023-00296-0","DOIUrl":"https://doi.org/10.1007/s40804-023-00296-0","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":" ","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42584735","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-01DOI: 10.1007/s40804-023-00295-1
Pascal Stocker
{"title":"The Potential of Blockchain Technology for Share Transfers in Non-listed Companies in Switzerland and the United Kingdom","authors":"Pascal Stocker","doi":"10.1007/s40804-023-00295-1","DOIUrl":"https://doi.org/10.1007/s40804-023-00295-1","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"24 1","pages":"439 - 470"},"PeriodicalIF":2.1,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48770338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-31DOI: 10.1007/s40804-023-00293-3
E. Avgouleas, A. Seretakis
{"title":"How Should Crypto Lending Be Regulated Under EU Law?","authors":"E. Avgouleas, A. Seretakis","doi":"10.1007/s40804-023-00293-3","DOIUrl":"https://doi.org/10.1007/s40804-023-00293-3","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"24 1","pages":"421 - 438"},"PeriodicalIF":2.1,"publicationDate":"2023-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47812831","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-06DOI: 10.1007/s40804-023-00292-4
Javier Paz Valbuena, Horst G. M. Eidenmueller
{"title":"Bailout Blues: The Write-Down of the AT1 Bonds in the Credit Suisse Bailout","authors":"Javier Paz Valbuena, Horst G. M. Eidenmueller","doi":"10.1007/s40804-023-00292-4","DOIUrl":"https://doi.org/10.1007/s40804-023-00292-4","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"24 1","pages":"409 - 419"},"PeriodicalIF":2.1,"publicationDate":"2023-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44631042","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-27DOI: 10.1007/s40804-023-00289-z
Aurelio Gurrea-Martínez
{"title":"Debtor-in-Possession Financing in Reorganisation Procedures: Regulatory Models and Proposals for Reform","authors":"Aurelio Gurrea-Martínez","doi":"10.1007/s40804-023-00289-z","DOIUrl":"https://doi.org/10.1007/s40804-023-00289-z","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":"24 1","pages":"555 - 582"},"PeriodicalIF":2.1,"publicationDate":"2023-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42886024","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-27DOI: 10.1007/s40804-023-00290-6
G. Ferrarini, M. Siri, Shanshan Zhu
{"title":"The EU’s Proposed Reform of Directors’ Duties and the Missing Link to Soft Law","authors":"G. Ferrarini, M. Siri, Shanshan Zhu","doi":"10.1007/s40804-023-00290-6","DOIUrl":"https://doi.org/10.1007/s40804-023-00290-6","url":null,"abstract":"","PeriodicalId":45278,"journal":{"name":"European Business Organization Law Review","volume":" ","pages":""},"PeriodicalIF":2.1,"publicationDate":"2023-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46614994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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