The European Framework on Corporate Disclosure - A Legal and Economic Analysis

Download or read book The European Framework on Corporate Disclosure - A Legal and Economic Analysis written by Philipp Lerch and published by . This book was released on 2017 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper evaluates the question of the feasibility of mandated disclosure for companies in the European Union. First, the prior American-dominated law and economics debate is outlined and further discussed. The paper stresses that to a large extent the problems that are being tackled by mandatory disclosure can be solved by market mechanisms - if the company would not face managerial opportunism. Thus, instead of regulating the amount of disclosure regulators' first attempt should always be minimizing this managerial opportunism. After quickly discussing macro-economic issues of unifying mandatory disclosure regulation, as regulatory competition and Varieties of Capitalism, the paper suggests regulating bodies to reproduce with their regulation the amount of disclosure companies would rationally agree on.