Paul Davies

Luca Enriques

Klaus J. Hopt

Hideki Kanda

Reinier Kraakman

Gérard Hertig

John Armour

Henry B. Hansmann

Edward B. Rock

This is the long-awaited second edition of this highly regarded comparative overview of corporate law. This edition has been comprehensively updated to reflect profound changes in corporate law. It now includes consideration of additional matters such as the highly topical issue of enforcement in corporate law, and explores the continued convergence of corporate law across jurisdictions. The authors start from the premise that corporate (or company) law across jurisdictions addresses the same three basic agency problems: (1) the opportunism of managers vis-à-vis shareholders; (2) the opportunism of controlling shareholders vis-à-vis minority shareholders; and (3) the opportunism of shareholders as a class vis-à-vis other corporate constituencies, such as corporate creditors and employees. Every jurisdiction must address these problems in a variety of contexts, framed by the corporation's internal dynamics and its interactions with the product, labor, capital, and takeover markets. The authors' central claim, however, is that corporate (or company) forms are fundamentally similar and that, to a surprising degree, jurisdictions pick from among the same handful of legal strategies to address the three basic agency issues. This book explains in detail how (and why) the principal European jurisdictions, Japan, and the United States sometimes select identical legal strategies to address a given corporate law problem, and sometimes make divergent choices. After an introductory discussion of agency issues and legal strategies, the book addresses the basic governance structure of the corporation, including the powers of the board of directors and the shareholders meeting. It proceeds to creditor protection measures, related-party transactions, and fundamental corporate actions such as mergers and charter amendments. Finally, it concludes with an examination of friendly acquisitions, hostile takeovers, and the regulation of the capital markets.

A Comparative and Functional Approach

The Anatomy of Corporate Law

Ulrich Drobnig

Jürgen Basedow

Reinhard Ellger

Hein Kotz

English summary: Authors from 25 countries have contributed to a Festschrift to celebrate the 75th anniversary of the Max Planck Institute for Private Law in Hamburg. The articles cover the history and future research projects of the Institute, aspects of German, European and international economic law, private international law and civil procedure, issues of comparative law and the unification of laws and selected private law topics from non-German legal systems. German description: Die Grundung des Max-Planck-Instituts fur auslandisches und internationales Privatrecht geht auf das Jahr 1926 zuruck. In der Festschrift zu seinem 75-jahrigen Bestehen sind Beitrage von Autoren aus aller Welt, die dem Institut verbunden sind, vereinigt. Mit dem 'Aufbruch nach Europa' wird programmatisch ein Bogen uber die meisten Beitrage gespannt, aber auch der Weg des Instituts beschrieben, von den Anfangen und bis in die Zukunft hinein.

75 Jahre Max-Planck-Institut für Privatrecht

Aufbruch nach Europa

Gunther Teubner

Legal, Economic and Sociological Analyses on Corporate Social Responsibility

Corporate Governance and Directors' Liabilities

Richard M. Buxbaum

Alain Hirsch

Legal and Economic Analyses on Integration and Harmonization

European Economic and Business Law

Felix Steffek

Mediation provides an attractive alternative to resolving disputes through court proceedings. Mediation promises just results in the interest of all parties concerned, a reduction of the court caseload, and cost savings for the parties involved as well as for the treasury. The European Directive on Mediation has given mediation in Europe new momentum by establishing a common framework for cross-border mediation. Beyond Europe, many states have tried in recent years to answer the question whether, and if so, how mediation should be regulated at a national and international level. The aim of this book is to promote the understanding and discussion of regulatory issues by presenting comparative research on mediation. It describes and analyses the law and practice of mediation in twenty-two countries. Europe is represented by chapters on mediation in Austria, Bulgaria, England, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Norway, Poland, Portugal and Spain. The world beyond Europe is analysed in chapters on mediation in Australia, Canada, China, Japan, New Zealand, Russia, Switzerland and the USA. Against this background, further chapters on fundamental issues identify possible regulatory models and discuss central principles of mediation law and practice. In particular, the work considers harmonisation and diversity in the law of mediation as well as the economic and constitutional problems associated with privatising civil justice. To the extent available, empirical research is used as a point of reference in the critical analysis.

Principles and Regulation in Comparative Perspective

Mediation

Mediation has become a vital means of resolving disputes in jurisdictions around the world. This book offers the most comprehensive comparative analysis available of mediation, introducing the law and practical experience of mediation in 22 jurisdictions and analysing how mediation should be regulated at a national and international level.

Walther Hadding

Herbert Schimansky

Zwei aktuellen Themen von hoher kreditwirtschaftlicher Tragweite hat die Bankrechtliche Vereinigung - Wissenschaftliche Gesellschaft für Bankrecht e.V. ihren Bankrechtstag 2001 in Kiel gewidmet: "Entgeltklauseln in der Kreditwirtschaft" und "e-Commerce von Kreditinstituten". Die Entgeltgestaltung von Kreditinstituten auf der Grundlage von Allgemeinen Geschäftsbedingungen hat inzwischen die Rechtsprechung seit mehr als zehn Jahren intensiv beschäftigt, steht aber immer noch, z.B. neuerdings hinsichtlich Zinsanpassungsklauseln, im Vordergrund des Interesses. Einerseits spielt es eine entscheidende Rolle, ob vom Entgelt für eine vereinbarte Leistung ausgegangen werden kann oder ob durch eine Nebeneinrede Kosten überwälzt werden. Andererseits sollen Klauseln über Entgelte und ihre Änderung hinreichend bestimmt und für den Kunden nachvollziehbar sein. Der e-Commerce von Kreditinstituten gewinnt infolge der technischen Entwicklung, namentlich etwa für Anwendungen des online- banking, steigende Bedeutung und bringt zahlreiche Rechtsfragen mit sich, z.B. hinsichtlich der Vertragsabschlüsse bei Kommunikation im Internet und der dabei zu wahrenden Datensicherheit. Aus dem Inhalt: Entgeltklauseln in der Kreditwirtschaft: Peter Kindler, Bochum: Entgeltklauseln in der Kreditwirtschaft; Peter Derleder, Bremen: Transparenz und Äquivalenz bei bankvertraglicher Zinsanpassung; Helmut Bruchner, München: Zinsanpassung aus der Sicht der Kreditwirtschaft. E-Commerce von Kreditinstituten: Arnold Picot, München: Banken und Firmenkundengeschäft im Internet-Zeitalter; Gerald Spindler, Göttingen: Bankrecht und E-Commerce - Sicherheit im Rechtsverkehr; Wulf Hartmann, Berlin: Fragen des E-Commerce aus der Sicht der Bankrechtspraxis.

Bankrechtstag 2001

Entgeltklauseln in der Kreditwirtschaft und E-Commerce von Kreditinstituten

Bankrechtstag 1990

Verbraucherkreditrecht, AGB-Gesetz und Kreditwirtschaft

Thomas Von Hippel

The economic importance of the non-profit sector is growing rapidly in the USA and Europe. However, the law has not kept abreast with its development. The European Court of Justice has extended certain freedoms of the EC Treaty to non-profit organisations, and more case law is expected to follow in the near future, but the observations, theories, solutions and legal and non-legal rules in this field are manifold. The chances of harmonising the law on a European level are slim. Despite these differences, a common core of international corporate governance problems and regulatory solutions can be seen. This volume of essays brings together a variety of international experts from both corporate governance and governance of non-profit organisations to compare the two areas and explore the lessons that can be learned regarding comparative corporate governance for non-profit organisations.

Comparative Corporate Governance of Non-Profit Organizations

Hein Kötz

Systemtransformation In Mittel Und Osteuropa Und I

Klaus J. Hopt

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