1 Department of Business Law, Aarhus School of Business, Aarhus BSS, Aarhus University2 Centre for International Business Law (CIBL), Aarhus School of Business, Aarhus BSS, Aarhus University3 Department of Law - Department of Law, Hermodsvej, Department of Law, Aarhus BSS, Aarhus University4 Department of Law, Aarhus BSS, Aarhus University5 Department of Law, Aarhus BSS, Aarhus University
How to choose an efficient regulatory approach?
European Company Law regulation is currently undergoing a reform. These reforms raise a number of regulatory questions, such as what should be the aims of companies' legislation, and how these aims should best be met by regulation. Many of the reforms and discussions (both on EU and national level) on the organisation of company laws reflect an interesting paradigm shift. Whereas, previously company law was primarily focused on preventing abuse, there is now a trend towards legislation that promote commerce and satisfy the needs of business. This means that the goal of economic efficiency is having an increasing influence on the framing of company legislation, such as the choice between mandatory or default rules. This article introduces the project 'European Company Law and the choice of Regulatory Method' which is carried out in collaboration with the 'European Model Company Act Group'. The project aims to analyse the appropriateness of different regulatory methods which are available to achieve the regulatory goals.
International Journal of Private Law, 2011, Vol 4, Issue 1, p. 156-170
European Model Company Act; EMCA; regulatory approach; economic efficiency; company law