The Law of Corporate Finance in Europe –An Essay

Company law is traditionally understood in Europe as the law of associations, andthis is how it is taught in our law schools. Companies, including those listed on stockexchanges, are associations of members. In some cases the relationship of theindividual members to the undertaking can be close; for example, the members maymanage the company. In other cases, the members might restrict themselves to therole of providers of equity capital. However, even in the latter case – which is typicalof the relationship of small investors...