Modernization and evolution of the European Community Company Law as a precondition for enhancing competitiveness of enterprises
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XX, No.1, 2008, pages 189-214
Issue:
Pages:
189-214
Author:
Abstract:
The fact that the establishment of a modern and dynamic legal framework governing the operation of the companies and the development of their activities, at community scale, is a necessary element for the enhancement of the competitiveness of enterprises, constitutes a common ascertainment within the EU. An integrated approach procedure, which is formulated in two main components – trends, is carried into effect for the attainment of the aforesaid goal. The first one concerns the modernization of the European Community Company Law aimed, on one hand, with the issue of new legislative acts (Directives) or the amendment of existing ones by European Union organs, through which a new impetus is given to the harmonization and approach procedure for the Member States’ national laws, and on the other hand, with the promotion of qualitative financial reporting and entrenchment of the audit quality within the European Union. The second one signals the evolution of the Community Company Law, and specifically, the transition from the Member States’ company law harmonization to the creation and development of new European (supranational) legal forms of enterprises, which will serve more effectively the development of economic and commercial activities within the united Europe. This goal is carried into effect with the establishment of a necessary institutional framework for the creation and operation of new business (corporate) forms of European law, and in particular, of the European Company, which contributes to the development of the cross-border cooperation of the enterprises and the business groups, the European Economic Interest Grouping and the European Cooperative Society.
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Subject (LC):
Keywords:
European Union, Company Law, Corporate Governance, Financial Reporting, Company audit
Notes:
JEL classification: F15, K20, M42, M48.
