TOWARDS AN ORGANISATIONAL LAW OF THE POLYCORPORATE ENTERPRISE? A COMPARATIVE ANALYSIS

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Abstract

One key element in improving economic efficiency is corporate governance which involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. If countries are to reap the full benefits of the global capital market, and if they are to attract long-term ‘patient’ capital, corporate governance arrangements must be credible and well understood across borders. One aspect of the relationship between the company’s management and its shareholders is far from being well understood: How is this relationship affected if the single company is transformed into a parent company of a corporate group? In Germany, this topic has attracted the most vivid legal interest for some decades, but it is not even considered in other countries - neither in the context of corporate governance nor in the one of corporate groups. One reason might be that provisions concerning corporate groups are not perceived as a distinct body of law in most of these countries.

Keywords: Corporate Group, Mergers and Acquisitions, Corporate Governance, General Meeting of Shareholders, Power of the Board, Concept of Konzernleitungskontrolle

How to cite this paper: Möslein, F. (2006). Towards an organisational law of the polycorporate enterprise? A comparative analysis. Corporate Ownership & Control, 3(2-1), 174-190. https://doi.org/10.22495/cocv3i2c1p3