The Nature of Corporate Governance

Dine, Janet; Koutsias, Marios

doi:10.4337/9781781006122

Cited by 19 publications

(3 citation statements)

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“…It is generally accepted that, similarly to what applies to English common law, 32 the right to sue derivatively under Cypriot law is a member's right only. 33 This, arguably limited, 34 conferral of legal standing can be viewed as echoing a contractarian perception of the firm, 35 under which shareholders' interests are the primary corporate concern, if not equated to those of the company. 36 Indeed, in the case of Cyprus, insolvency notwithstanding, the interests of the company are considered to be those of the members as a whole.…”

Section: A the English And The Cypriot Derivative Action Under Common...mentioning

confidence: 99%

A comparative analysis of derivative action in Cypriot company law: Comparison with English company law and the prospect of statutory reform

Zouridakis

Papadopoulos

2022

Maastricht Journal of European and Comparative Law

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This article provides a comparative analysis of derivative action in Cypriot company law and submits some proposals for statutory reform on the basis of English company law. The derivative action in Cyprus company law is based on common law and is not codified into the text of Cyprus Companies Law-Chapter 113. Regarding the derivative action, the Courts of Cyprus refer to pre-1960 English cases as authorities. However, as this article explains, Cypriot Courts have not followed all developments with regard to the derivative action in English company law, despite the original and elaborated solutions given to many difficult issues by English cases and the statutory derivative claim under the English Companies Act 2006, which replaced the old ‘exceptions to the rule in Foss v. Harbottle’ regime. In fact, quite a few issues related to the remedy are yet to be considered by Cypriot law; case law is scarce and uncertainty looms over (potential) derivative claimants. Taking into account the origin of Cypriot company law from English company law, the jurisprudential and legislative evolution of the derivative action in English company law constitutes a fertile ground for the modernization of derivative action in Cypriot company law. It is therefore hereby submitted that the Cypriot Courts and the Cypriot legislator seek insight from the rich experiences and the multi-faceted evolution of the English law on derivative action, in an effort to address existing problems and establish a modern and functioning framework.

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Section: A the English And The Cypriot Derivative Action Under Common...mentioning

confidence: 99%

A comparative analysis of derivative action in Cypriot company law: Comparison with English company law and the prospect of statutory reform

Zouridakis

Papadopoulos

2022

Maastricht Journal of European and Comparative Law

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“…Corporate law controls the establishment and internal operations of companies, primarily by delineating the powers and roles of its members (shareholders) and their agents (managers) and creating checks‐and‐balances such as through a board of directors exercising oversight (Dine & Koutsias ). These characteristics vary depending on the types of corporation, with some important differences between public and private companies.…”

Section: Corporate Law and Ecological Restorationmentioning

confidence: 99%

Resourcing ecological restoration: the legal context for commercial initiatives

Richardson

2016

Restoration Ecology

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Ecological restoration often depends on substantial funding to be initiated and sustained. So far, the dominant strategies to fund it have been philanthropic altruism or regulatory compulsion. Both make important contributions, but the commercial sector is a further source that has thus far not played a significant role relative to its potential. Just as philanthropic and regulatory strategies are both modulated by the law, so too law shapes the commercial sector's participation in ecological restoration. Corporate law and its market context are particularly significant, and they are both a potential hindrance and opportunity. Some options for law reform are available to improve the contribution of the business sector to restoration.

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“…In the last 20 years, corporate governance codes were developed in many countries as recommendations for good corporate governance benchmarks not as legal requirements (Dine and Koutsias, 2013;Hopt, 2013). However, parts of these recommendations have a law-like character, because they are often used as a standard of good corporate governance for judging negligence of proper supervision and prudent management (Zhao, 2011).…”

Section: The German Corporate Governance Code As a Good Corporate Govmentioning

confidence: 99%

Survey On Competence and Administration of Supervisory Board Activities in German Stock-Listed Companies

Michelberger

2017

Economics and Business

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Abstract. According to the agency theory (Jensen & Meckling 1976), it is expected that there exists a positive relationship between corporate governance and company performance which is also generally assumed in recent research (Dignam & Galanis 2016). This relationship is investigated in the study performed by the author of this paper. Two different approaches were chosen in parallel: (1) quantitative data analysis, based on financial figures and corporate governance variables, and (2) a survey of supervisory board members of listed German companies. This paper is about the results of structured interviews with 30 supervisory board members. The survey confirms that corporate governance regulations have an important influence on the administration of supervisory board activities and on board competence. Many supervisory board members stated that the German Corporate Governance Codex leads to extended meeting time to fulfil regulatory requirements, more data requirements to identify and estimate risk issues and to rising risk awareness. The interview results converge with the results from the multivariate analysis.

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The Nature of Corporate Governance

Cited by 19 publications

References 0 publications

A comparative analysis of derivative action in Cypriot company law: Comparison with English company law and the prospect of statutory reform

A comparative analysis of derivative action in Cypriot company law: Comparison with English company law and the prospect of statutory reform

Resourcing ecological restoration: the legal context for commercial initiatives

Survey On Competence and Administration of Supervisory Board Activities in German Stock-Listed Companies

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