Article (Scientific journals)
Enhancing virtual governance: comparative lessons from COVID-19 company laws
Zetzsche, Dirk Andreas; Consiglio, Roberta; Yeboah-Smith, Miko et al.
2022In Journal of Corporate Law Studies, 22 (1), p. 115-150
Peer reviewed
 

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Keywords :
Shareholder Meetings, Voting, AGM, Comparative Law
Abstract :
[en] This article documents elements of COVID-19-inspired company legislation on digital participation of shareholders in general meetings in 22 countries and analyses to what extent such legislation can function as a blueprint for law reform. Lawmakers need to strike a balance between ensuring a smooth general meeting (from management's perspective) and protecting shareholders' rights. COVID-19 legislation with regard to shareholder interventions has lacked this balance. Further, crisis legislation, adopted in haste as it was, could not reflect the fundamental shift towards institutionalized shareholdings. Once adopted, there is a risk that the hasty choices made during COVID times will stick, resulting in suboptimal regulation of shareholder meetings. The crisis legislation on meetings should thus be revisited, reflecting three paradigm shifts in corporate governance, namely the form of the meeting (virtual instead of in-person), its temporal dimension (multi-day process instead of a specific meeting day), and the institutionalisation of ownership, which allows investors to deploy resources and technology unavailable to most individuals.
Disciplines :
Economic & commercial law
Author, co-author :
Zetzsche, Dirk Andreas  ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Law Research Unit
Consiglio, Roberta ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Law Research Unit
Yeboah-Smith, Miko ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF)
Anker-Sörensen, Linn-Cecilie
External co-authors :
yes
Language :
English
Title :
Enhancing virtual governance: comparative lessons from COVID-19 company laws
Publication date :
01 February 2022
Journal title :
Journal of Corporate Law Studies
Volume :
22
Issue :
1
Pages :
115-150
Peer reviewed :
Peer reviewed
Focus Area :
Law / European Law
Development Goals :
9. Industry, innovation and infrastructure
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