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Erschienen in:
2006 | OriginalPaper | Buchkapitel
Colin Mayer on Corporate Governance Systems — How Much Convergence?
verfasst von : Geoffrey Owen, Tom Kirchmaier, Jeremy Grant
Erschienen in: Corporate Governance in the US and Europe
Verlag: Palgrave Macmillan UK
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Competition between states with different corporate governance frameworks could be beneficial, as it enables firms to choose the most appropriate place of incorporation for their business model. Against this background, it is not surprising that difficulties have been encountered in trying to implement a European Takeover Directive. Opposition to it reflects fundamental differences of view about the role of markets in corporate control in promoting capital market efficiency and the rights and obligations of shareholders.