This paper can be downloaded without charge from the Social Science Research Network electronic library at: http: //papers.ssrn. com/paper. taf?abstract id=10037 Bernard Black Reinier Kraakman' In this Article, Professors Black and Kraakman develop a \self-enforcing\ approach

corporation with its key attributes of independent personality, limited liability and free o n most countries large business enterprises today are organized as corporations. Th tradeability of shares has played a key role in most developed market economies since the

Mark J. Roe A strong theory has emerged in recent years that the quality of corporate lane primaritly determines whether securities markets arise, whetl from control, and whether the modern corporation can prosper. nwehy we see weak corporate structures in to explain why concentrated ownershippe

1 Introduction Dutch corporate law has gradually expanded during the last three decades. Due to national and European government action it has increasingly become more detailed and complex. A large part of the law is considered to be mandatory. The aim of this

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