Shareholder after the Crisis

Financial Law Institute Working Paper 2009-12

24 Pages Posted: 20 Dec 2009  

Eddy Wymeersch

Ghent University - Financial Law Institute; ECGI

Date Written: December 16, 2009

Abstract

Shareholders call for more attention after the crisis: confidence will have to be restored to convince them to recapitalise the financial firms. Five topics are addressed here: shareholders should be able to effectively exercise their rights, especially their voting rights. They should be protected against being sidelined by empty voters. Long termism is called for by calling on more stable, active institutional shareholders, an objective that may be at odds with “one share, one vote”. Finally, also the state rescuing financial institutes should not intervene without paying any attention to the shareholders’ rights.

Keywords: Shareholders, voting rights, empty voting, one share, one vote, institutional investors, resolution schemes

JEL Classification: K22, K23

Suggested Citation

Wymeersch, Eddy, Shareholder after the Crisis (December 16, 2009). Financial Law Institute Working Paper 2009-12. Available at SSRN: https://ssrn.com/abstract=1524249 or http://dx.doi.org/10.2139/ssrn.1524249

Eddy O. Wymeersch (Contact Author)

Ghent University - Financial Law Institute ( email )

Universiteitstraat 4
Gent, B-9000
Belgium
+32 9 264 68 27 (Phone)
+32 9 264 68 55 (Fax)

HOME PAGE: http://www.law.ugent.be/fli

ECGI ( email )

c/o ECARES ULB CP 114
B-1050 Brussels
Belgium

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