Corporate Governance, West and East: A Synthesis of the EU Framework in the Perspective of Enlargement

  • Karel Lannoo
Part of the Financial and Monetary Policy Studies book series (FMPS, volume 33)


In the framework of preparing for EU membership and the approximation of laws, the Central and Eastern-European countries (CEECs) are confronted with an ambiguous situation in the achievement of the single market as far as corporate governance is concerned. On the one hand, there are the liberalizing effects of a whole series of financial market measures which have radically increased competition, so that institutional investors can with a single licence provide services in another member state. On the other hand, there are some key company law harmonization proposals, such as on the European Company Statute or take-over bids directive, which have been on the Council table for many years and on which no agreement will probably be reached in the foreseeable future. The differences in corporate governance systems in the EU and in the candidate countries can thus be kept, but financial markets’ integration will increasingly bring the specificities of national systems under pressure.


Corporate Governance Institutional Investor Pension Fund Audit Committee Corporate Governance System 
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Copyright information

© Springer Science+Business Media Dordrecht 1998

Authors and Affiliations

  • Karel Lannoo

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