Dionysia Katelouzou
Disappearing Paradigms in Shareholder Protection: Leximetric Evidence for 30 Countries, 1990-2013
Katelouzou, Dionysia; Siems, Mathias
Authors
Mathias Siems
Abstract
Scholars frequently claim that the path dependency of the law, the influence of the US model of corporate governance, and the role of legal origin and the stage of legal development are key for a comparative understanding of shareholder protection. This article, however, suggests that these paradigms of comparative company law gradually seem to be disappearing. The basis for our assessment is an original leximetric dataset that measures the development of shareholder protection for 30 countries over the last 24 years. Using tools of descriptive statistics, time series and cluster analysis, our main findings are that all legal origins now have on average about the same level of shareholder protection, that paternalistic tools have overtaken enabling tools of protection, and that, after the global financial crisis, this area has become a less frequent object of law reforms.
Citation
Katelouzou, D., & Siems, M. (2015). Disappearing Paradigms in Shareholder Protection: Leximetric Evidence for 30 Countries, 1990-2013. Journal of Corporate Law Studies, 15(1), 127-160. https://doi.org/10.5235/14735970.15.1.127
Journal Article Type | Article |
---|---|
Acceptance Date | Nov 2, 2014 |
Online Publication Date | Aug 4, 2015 |
Publication Date | Apr 1, 2015 |
Deposit Date | May 2, 2015 |
Publicly Available Date | Aug 11, 2015 |
Journal | Journal of Corporate Law Studies |
Print ISSN | 1473-5970 |
Electronic ISSN | 1757-8426 |
Publisher | Taylor and Francis Group |
Peer Reviewed | Peer Reviewed |
Volume | 15 |
Issue | 1 |
Pages | 127-160 |
DOI | https://doi.org/10.5235/14735970.15.1.127 |
Public URL | https://durham-repository.worktribe.com/output/1439329 |
Publisher URL | http://www.tandfonline.com/doi/abs/10.5235/14735970.15.1.127 |
Related Public URLs | http://ssrn.com/abstract=2579832 |
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Copyright Statement
© 2015 The Author(s). Published by Taylor & Francis.
This is an Open Access article distributed under the terms of the Creative Commons Attribution License
(http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and
reproduction in any medium, provided the original work is properly cited.
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