European Economic and Business Law : Legal and Economic Analyses on Integration and Harmonization

This section of the Handbook of Zoology is intended as a comprehensive and exhaustive account of the biology of the taxa Gastrotricha, Nematoda, Nematomorpha, Priapulida, Kinorhyncha, Loricifera, Gnathostomulida, Micrognathozoa, Rotifera, Seisonida and Acanthocephala, covering all relevant topics such as morphology, ecology, phylogeny and diversity. The series is intended to be a detailed and up-to-date account of these taxa. As was the case with the first edition, the Handbook is intended to serve as a reliable resource for decades. Many of the taxa of this volume are comparatively unknown to many biologists, despite their diversity and importance for example in meiofaunal communities (Gastrotricha, Rotifera, Gnathostomulida), their fascinating recent discoveries (Loricifera and Micrognathozoa), their importance as parasites (many nematodes, Nematomorpha, Acanthocephala) and their importance for evolutionary questions (e.g. Priapulida, Gastrotricha). The groups covered range from those poor in species (such as Micrognathozoa with 2 known species) to the species-rich and diverse Nematoda and their ca. 20.000 described species. While each taxon is covered by one chapter, nematodes are treated in several chapters dedicated to their structural, taxonomic and ecological diversity. List of Participants Abbreviations Introduction. Federalism and European Business Law Frank H. Easterbrook Chapter One. A Short Walk in the Realm of Subsidiarity Paul Demaret I. Introduction II. The Entry of Subsidiarity into the Community Framework III. The Scope of the Subsidiarity Principle Under the Maastricht Treaty IV. The Implementation of the Principle of Subsidiarity Under the Maastricht Treaty V. Conclusion Chapter Two. Ensuring Compliance and Implementation by Member States A. Report: Jean-Victor Louis I. Introduction: Insufficient Effectiveness of Community Law II. A Subject of Growing Concern III. Some Crucial or Controversial Aspects IV. Normative and Administrative Implementation V. Control of the Application VI. Sanction of Infringements of Community Law VII. Tentative Conclusion B. Discussion I. Introductory Remarks II. Right Level of Government III. Implementation and the Francovich Case IV. The Role of the Court of Justice Chapter Three. A Common Currency: How to Get There And is it Worth it? A. Report: Niels Thygesen I. Introduction II. Benefits and Costs of a Common Currency – is it Worth it? III. Would the Common Currency Ensure Stable and Low Inflation? IV. How Do We Get There? V. Tentative Conclusions B. Discussion I. Introductory Remarks II. Political Union as a Prerequisite for Monetary Union III. Time Targets and EMI IV. Benefits and Costs Chapter Four. The EMU and Fiscal Policy in the New European Community: An Issue for Economic Federalism A. Report: Robert P. Inman and Daniel L. Rubinfeld I. Introduction II. A European Monetary Union? III. Private Control of Country-Specific Economic Shocks IV. The Political Management of Centralized Fiscal Policies in the European Union V. Implications for European Federalism B. Discussion I. Introduction II. The Politics of Centralization III. Undoing Centralization IV. Unemployment Compensation Systems Chapter Five. Eastern Europe A. Report N° 1: Richard M. Buxbaum. Modernization, Codification, and Harmonization: The Influence of the Economic Law of the European Union on Law Reform in the Former Socialist Bloc I. Introduction II. The First Steps III. Europe Agreement: Problems and Procedures IV. Agreement on Inter-Parliamentary Cooperation: Problems and Procedures V. Conclusion Report N° 2: Stanislaw Soltysinski. Polish Law On National Investment Funds And Their Privatization (1993): An Overview I. Introduction II. The Purposes and the Procedure of Establishment of NIFs III. Governing Bodies of the Funds. Management Firms IV. Antitrust Provisions V. Share Certificates VI. Exchange of Share Certificates for Shares of the Funds VII. Conclusion B. Discussion I. Introduction: History II. Transition Strategies III. NIFs Chapter Six. Accounting Standards In Practice A. Report: Wienand Schruff I. Introduction II. The Current Status of Harmonized Accounting Standards in the European Union III. Barriers to Further Harmonization in the EU IV. Proposal V. Conclusion B. Discussion I. Do Differences in Accounting Methods Matter? II. The Link Between Accounting and Culture or Management Methods III. The Cost of Complying with Several Accounting Methods IV. Self-regulating Accounting Principles V. Modernizing the Seventh Directive Chapter Seven. Financial Services A. Report N° 1: Ruben Lee. Supervising EU Capital Markets: Do We Need A European SEC? I. Introduction II. The Current Environment III. Problems of Substance IV. Structural Faults V. Responses VI. Conclusion Commentary 1 on Report N° 1: Hideki Kanda I. Introduction II. Why Harmonization? III. Paradoxes of Regulation Commentary 2 on Report N° 1: Robert Austin I. Introduction II. The Functions of a Securities Regulator III. The Role of Competition Policy in Securities Regulation IV. Legislation v. Regulation V. The Theory of Harmonization Report N° 2: Gérard Hertig. Imperfect Mutual Recognition for EU Financial Services I. Introduction II. The Move toward Imperfect Mutual Recognition III. Imperfect Mutual Recognition as a Second Best Solution IV. Conclusion B. Discussion I. Introduction II. Cooperation Among Regulators and the Role of Courts III. Multiplying Regulatory Authorities Chapter Eight. Corporate Law and Politics A. Report N° 1: Mark J. Roe. German “Populism” and the Large Public Corporation I. Introduction II. Berle-Means and Atomization III. The German Structure IV. Political Influence in Germany V. Conclusion Report N° 2: Klaus J. Hopt. Labor Representation on Corporate Boards: Impacts and Problems for Corporate Governance and Economic Integration in Europe I. Introduction II. Legal and Economic Experiences With the German and Dutch Worker Co-determination Model III. Worker Co-determination in the EU: Legal, Economic and Socio-political Problems of Integration IV. Some Prospects and Theses B. Discussion I. Introduction II. A Contractarian View III. Co-determination Outside of Germany IV. Fragmentation of Financial Intermediation Chapter Nine. The Regulation of Takeover Bids in a Comparative Perspective Eddy Wymeersch I. Introduction II. Facts III. Takeovers and Other Comparable Transactions IV. Takeovers and the Corporate Control Market V. The Use of Protective and Defensive Measures VI. The Role of the Takeover Bid VII. Concluding Remarks Chapter Ten. Investors and Enterprise Structure A. Report: Eddy Wymeersch I. Introduction II. Distribution of Shares Among Investors III. The Role of the Business Enterprise IV. Conclusion B. Discussion I. Introduction II. Corporate Control III. Rescue Situations Chapter Eleven. The Structural Approach to Decentralizing Law: A Theory of Games and Norms A. Report: Robert D. Cooter I. Introduction II. Games and Norms III. Lawmaking IV. Conclusion B. Discussion I. Introduction II. Costs and Benefits of Decentralization III. Structure and Behavior IV. International Norms and Domestic Norms