Economic Analysis of Director Liability (In German)
DIRECTOR'S LIABILITY IN 15 EUROPEAN COUNTRIES, pp. 95-163, S. Klass, Linde Verlag, Wien, eds., 2005
71 Pages Posted: 7 Jul 2010
Date Written: August 1, 2005
This article provides a functional overview on different forms of director liability from a law & economics perspective. It introduces key concepts of the economic analysis of tort law and applies them to sharpen the perspective on the doctrinal concept of “internal liability” (“Innenhaftung”) and “external liability” (“Außenhaftung”) of directors vis-à-vis equity holders, creditors, and other third parties. After analyzing special problems arising from the accountability of directors to third parties (“Dritthaftung”), we put particular emphasis on problems of litigation and enforcement. The aim of the paper is to provide a functional tertium comparationis for the purpose of evaluating the national legal regimes described in this book.
Notes: Downloadable document is in German.
Keywords: Director liability, Vorstandshaftung, Organhaftung, Ökonomische Analyse
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