Starting from the observation that at the multilateral level shareholder activism is considered as an important aspect of good corporate governance, this paper examines several legal and economic obstacles to institutional investor activism in the EU and in the US. We find that investors in the...

The current literature on the Economics of Legal Harmonization consists mainly in the study of contract and corporate law with the aim of verifying whether harmonization produces efficient results within the US federal context. More recent studies have begun to examine the efficiency of the...