Equity markets, market efficiency and contestability of control in a trans-Atlantic perspective.

Lamandini, Marco (2007) Equity markets, market efficiency and contestability of control in a trans-Atlantic perspective. [Preprint]
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Abstract

The article offers a comparative overview of some of the legal determinants affecting the cross-border market for corporate control in a trans-Atlantic perspective, in the wake of directive 2004/25/EC and its implementation by Member States as well as of recent decisions of both the European Court of Justice and the Commission concerning “golden shares” and other protectionist measures adopted by Member States to insulate national champions from the market for corporate control. The article questions whether national (final) ownership really meets the needs of the national community at large, thereby complying with a public interest test, or rather simply meets the quite different needs of local politics to exert an opaque and indirect control over strategic industries (following a “twist the arms” approach in respect to nationals controlling such industries).

Abstract
Document type
Preprint
Creators
CreatorsAffiliationORCID
Lamandini, Marco
Keywords
mercati finanziari; mercati azionari
Subjects
DOI
Deposit date
06 Dec 2007
Last modified
16 May 2011 12:06
URI

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