This article discusses regulatory competition for companies and shareholders in the European Union and concludes that it follows the American pattern. The article places an emphasis on the regulatory competition for listed companies. Keywords: ...

This article discusses the main elements of Directive 2017/828/UE amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement. Directive 2007/36/EC (Shareholder Rights Directive) was adopted in 2007 and, ten years later, in May 2017, it was strengthened through Directive 2017/828/UE (Shareholder Engagement Directive).The primary objective of the Shareholder Rights Directive was to ensure that nonr...

This article discusses concentration operations have taken place on the EU stock market over the last 20 years, with a particular focus on two recent developments: the merger of the London Stock Exchange Group and Deutsche Börse Group (stopped by the European Commission in 2016 due to antitrust concerns and the merger of the Bucharest stock exchange and the Sibiu stock exchange to form a unique Romanian stock exchange (which was complete...

This article discusses legal exit rights as a minority shareholder protection in Romania, France and the United States, as countries representatives of weak, average and respectively strong capital markets, with varying levels of shareholder activism and litigation (low, normal and respectively high). Legal exit rights are instances where the law provides that a shareholder has a withdrawal right, generally at a fair price to be paid by...

Contrary to other professions, where there is a relatively balanced gender representation, there is a manifest disproportion in the case of boards of directors of listed companies in the European Union. In 2014, women accounted only for 20% of the total number of board members, 21% of the number of non executive members, 13% of the number of executive members and 3% of the number of CEOs. There are important differences between the memb...