Reform of Corporate Governance in the EU

23 Pages Posted: 13 Sep 2004

See all articles by Karel Lannoo

Karel Lannoo

Centre for European Policy Studies, Brussels

Arman Khachaturyan

Centre for European Policy Studies (CEPS), Brussels

Abstract

This article provides with a critical overview of the latest spate of the European Commission's proposals on reforming corporate governance in the EU. The authors argue that most of the proposed measures are simply reactions to recent fallouts and new legislation in the US. This article supplies with evidence beyond reasonable doubt that the EC's measures are in fundamental disequilibrium with the core and supporting institutions of corporate governance in the EU. The paper concludes with a view that rather than embarking on a complex exercise in harmonisation, Europe should build on the strength of its diversity and imitate the US where it is warranted.

Keywords: Conflict of interest, corporate governance, board of directors, board structure, capital and ownership structure, executive compensation, independence

JEL Classification: G32, G34, G35, G38, H73, K22, L51

Suggested Citation

Lannoo, Karel and Khachaturyan, Arman, Reform of Corporate Governance in the EU. European Business Organization Law Review (EBOR), Vol. 5, No. 1, p. 37, 2004. Available at SSRN: https://ssrn.com/abstract=588201

Karel Lannoo (Contact Author)

Centre for European Policy Studies, Brussels ( email )

Arman Khachaturyan

Centre for European Policy Studies (CEPS), Brussels ( email )

1 Place du Congres
B-1000 Brussels, 1000
Belgium

HOME PAGE: http://www.ceps.be

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