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Towards a Sustainable European Company Law

Towards a Sustainable European Company Law (EPUB ebook)

By Sjafjell, Beate

No one doubts any longer that sustainable development is a normative imperative. Yet there is unmistakably a great reluctance to acknowledge any legal basis upon which companies are obliged to forgo 'shareholder value' when such a policy clearly dilutes responsibility for company... action in the face of continuing environmental degradation. Here is a book that boldly says: 'Shareholder primacy' is wrong. Such a narrow, short-term focus, the author shows, works against the achievement of the overarching societal goals of European law itself. The core role of EU company and securities law is to promote economic development, notably through the facilitation of market integration, while its contributory role is to further sustainable development through facilitation of the integration of economic and social development and environmental protection. There is a clear legal basis in European law to overturn the poorly substantiated theory of a 'market for corporate control' as a theoretical and ideological basis when enacting company law. With rigorous and persuasive research and analysis, this book demonstrates that: European companies should have legal obligations beyond the maximization of profit for shareholders; human and environmental interests may and should be engaged with in the realm of company law; and company law has a crucial role in furthering sustainable development. As a test case, the author offers an in-depth analysis of the Takeover Directive, showing that it neither promotes economic development nor furthers the integration of the economic, social and environmental interests that the principle of sustainable development requires. This book goes to the very core of the ongoing debate on the function and future of European company law. Surprisingly, it does not make an argument in favour of changing EU law, but shows that we can take a great leap forward from where we are. For this powerful insight - and the innumerable recognitions that support it - this book is a timely and exciting new resource for lawyers and academics in 'both camps': those on the activist side of the issue, and those with company or official policymaking responsibilities.
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ISBN 9789041144515
Published 26 Mar 2009
Publisher Kluwer Law International
Available in EPUB format
Software Read in Browser or Adobe Ebook Compatible Device
Language en
Series European Company Law Series

Full details for this title

ISBN-13 9789041144515
Stock Available
Status Wheelers ePlatform
Publisher Kluwer Law International
Imprint Kluwer Law International
Released 26 Mar 2009
Publication Country THE NETHERLANDS
Format EPUB ebook
Author(s) By Sjafjell, Beate
Series European Company Law Series
Category Law
EU company law
Company Law
Number of Pages 592
Dimensions Not specified
Dewey Code 346.24066
Weight Not specified - defaults to 0g
Interest Age General Audience
Reading Age General Audience