The current challenges for EU company and financial law and regulation

Autenne, A. et al. (2018) The current challenges for EU company and financial law and regulation. Accounting, Economics, and Law, 8(3), 20170064. (doi:10.1515/ael-2017-0064)

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Abstract

European company and financial law and regulation have been evolving over time along with business and financial practices. The resulting ‘social licence’ established by company and financial law and regulation aimed to balance the granted privileges of limited liability and share transferability with the corporate social contribution to economic development and employment. Recent transformations driven by shareholder value and financialisation have been challenging this balance of interests between stakeholders (including employees and shareholders) and society. The EU institutional framework may respond to these challenges by reaffirming the centrality of the enterprise as a going concern. On this basis, corporate accountability and responsibility may be enforced to make ongoing corporate affairs accountable and responsible for their contribution to economy and society. Ongoing corporate capacity to cope with social and environmental responsibilities may be assured along with the fair and sustainable remuneration of stakeholders, including shareholding investors, and a fair tax contribution. The EU institutional design and policy mix may be organised to respond to this comprehensive set of corporate dimensions. Here the most relevant fields to be reconsidered include: enterprise groups and corporate social responsibility; financial reporting and transparency; financial investment and asset management.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Sergakis, Professor Konstantinos
Authors: Autenne, A., Biondi, Y., Cavalier Jr., G., Cosmina Cotiga, A., Doralt, P., Haslam, C., Horak, H., Malberti, C., Philippe, D., Sergakis, K., and Schmidt, J.
College/School:College of Social Sciences > School of Law
Journal Name:Accounting, Economics, and Law
Publisher:De Gruyter
ISSN:2152-2820
ISSN (Online):2152-2820
Published Online:08 August 2018
Copyright Holders:Copyright © 2018 Walter de Gruyter GmbH
First Published:First published in Accounting, Economics, and Law 8(3):20170064
Publisher Policy:Reproduced in accordance with the copyright policy of the publisher
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