Ist der Unionsgesetzgeber an die Grundfreiheiten gebunden? Darf er Maßnahmen, die auf mitgliedstaatlicher Ebene verbotene Beschränkungen der Binnenmarktfreiheiten wären, EU-weit harmonisieren? Und darf er mitgliedstaatliche Maßnahmen mittels Sekundärrecht autorisieren, die ansonsten in...

We explore whether the transparency in banks' lending activities enhances the harmonization of credit terms that a bank offers across its different geographic regions. We take advantage of a novel loan-level reporting initiative by the European Central Bank, which requires repo borrowing banks...

We empirically examine whether adopting a uniform set of accounting standards mitigates information frictions in financial markets and facilitates market integration. Using a difference-in-difference design, we find that after the mandatory adoption of International Financial Reporting Standards...

The paper addresses the delicate issue of 'governance of complexity', which characterizes the present historical moment marked by economic and political uncertainties. The limits of the European federalist conception are taken into account, which are the basis of a recovery of the traditional...

Harmonising Regulatory and Antitrust Regimes for International Air Transport addresses the timely and problematic issue of lack of uniformity in legal standards for international civil aviation.First, it focuses on discrepancies within the regulatory and antitrust framework and possible...

This chapter sketches the history of EU Company Law, from its beginnings in the 1960s until today. Throughout all periods, EU company law harmonization was largely a top-down, technocratic project that was considered imperative to realize the common market. In other words, it was promoted mainly...

Accounting is the science of communicating the financial information of the business organization in an organized manner. Before communicating the business information it is necessary to record the actual business results in a scientific manner so as to ensure the true and fair view of the...

The European Central Bank strives to harmonize over 160 national options and discretions (O&Ds) that contribute to the fragmentation of the banking union's regulatory framework. National authorities seem prepared to accept it, despite previously insisting on the inclusion of all O&Ds into the EU...

The Council is a crucial intergovernmental institution of the European Union. However, the complex, opaque and consensual character of the decision-making process in the Council puts its legitimacy into question. Intergovernmentalist theory posits that it is sufficiently legitimised, indirectly,...

This paper examines the interaction between accounting standards and legal capital in the European Union legal framework. More in particular, it attempts to compare on a parallel basis the distributional and behavioural function of both concepts and to address whether the current legal status...

This paper focuses on the issue of standardization and harmonization of International Financial Reporting Standards. For the purpose qualitative analysis of the secondary data has been done. Findings and conclusion suggests that harmonization of accounting and financial reporting standards,...

In order to be able to assess the future institutional relationship between the UK and the EU, this study organises the relevant facts systematically. This is done by using a framework in which two aspects are compared with each other: On the one hand, the extent of the Single Market access for...

This article advances detailed proposals for a European Personal Insolvency Directive as part of the European Commission's ongoing insolvency initiative. The Commission has been struggling with "soft" coordination of insolvency proceedings under the divergent national laws in the EU since 2000,...

The explosion in the literature on global constitutionalism in recent times has come at the cost of ever more, and more diverse, definitions of the concept of constitutionalism. The state of the current debate can therefore be characterised, conceptually speaking, as a ‘constitutional...

The central goal of the adoption of the IFRS was to improve the quality of accounting information and to ensure greater comparability and transparency of international financial reporting. This paper is intended to identify the importance of accounting and financial information in the present...

With the advent of globalization, international business has grown at a faster pace than the pace of world economy. Falling barriers to trade and investment have allowed companies to seek opportunities in foreign markets and establish their presence in lucrative markets. This ever changing...

A continuous flow of reliable, relevant and financially important information is necessary for making economically justified and strategic investment decisions. Economic globalization has contributed to the need of creating a unified language for communication, a single set of international...

Drawing on analysis of 2004 and 2011 WERS data and extensive case studies of employee consultation bodies, this paper highlights major problems with the regulatory design and enforcement of the Information and Consultation of Employees Regulations 2004 and advocates reforms to improve their...

The paper examines whether international regulatory harmonization increases cross-border labor migration. To study this question, we analyze European Union (EU) initiatives that harmonized accounting and auditing standards. Regulatory harmonization should reduce economic mobility barriers,...