The Law and Economics of Comparative Corporate Law

European Corporate Governance Institute - Law Working Paper No. 591/2021

Forthcoming in the RESEARCH HANDBOOK ON COMPARATIVE CORPORATE GOVERNANCE (Martin Gelter and Afra Afsharipour eds.)

23 Pages Posted: 23 Jun 2021

See all articles by Maria Isabel Sáez Lacave

Maria Isabel Sáez Lacave

Universidad autonoma de Madrid, Faculty of Law; European Corporate Governance Institute (ECGI)

María Gutiérrez Urtiaga

Universidad Carlos III de Madrid-Departamento de Economía de la Empresa; European Corporate Governance Institute (ECGI)

Date Written: June 08, 2021

Abstract

In this paper, we explain the methodological shifts that have occurred over time in the study of company law. Our hypothesis is that comparative company law has developed and evolved as a bridge between two extremes. On the one hand, the doctrinal, black-letter law approach to company law, dominant in academic commentary at the domestic level. On the other hand, the instrumental, analytic approach of the law and economics view of company law. As we will see, the evolution of the comparative approach to company law has seen frequent rebranding, from comparative corporate law, to comparative corporate governance, to law and finance and to theory and empirics of comparative corporate law. These re-branding waves have taken place as new questions, in need of different levels of analysis and methodological approaches, arose. Interestingly, in a two-way road, the comparative perspective has also enriched the L&E view of company law.

Keywords: company law, comparative legal studies, law and finance, law and economics

JEL Classification: K10, K22

Suggested Citation

Sáez Lacave, Maria Isabel and Gutiérrez Urtiaga, María, The Law and Economics of Comparative Corporate Law (June 08, 2021). European Corporate Governance Institute - Law Working Paper No. 591/2021, Forthcoming in the RESEARCH HANDBOOK ON COMPARATIVE CORPORATE GOVERNANCE (Martin Gelter and Afra Afsharipour eds.), Available at SSRN: https://ssrn.com/abstract=3869829 or http://dx.doi.org/10.2139/ssrn.3869829

Maria Isabel Sáez Lacave

Universidad autonoma de Madrid, Faculty of Law ( email )

C/ Kelsen 1
Madrid, 28049
Spain

European Corporate Governance Institute (ECGI) ( email )

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

María Gutiérrez Urtiaga (Contact Author)

Universidad Carlos III de Madrid-Departamento de Economía de la Empresa ( email )

Calle Madrid 126
Getafe, 28903
Spain
+34-91 624 58 40 (Phone)
+34-91 624 96 07 (Fax)

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

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