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The Societas Europaea: a Network Economics Approach

Author

Listed:
  • Lombardo Stefano

    (1. Professore a contratto di Diritto dell’Economia, School of Economics and Management, Free University of Bolzano/Bozen, Italy.)

  • Pasotti Piero

    (2. Ph. D. Candidate, Department of Economics, University of Siena, Italy.)

Abstract

This article applies network economics to a particular aspect of the statute of the Societas Europaea (SE). The statute allows companies that decide to use the SE form to choose between a two-tier organisational structure (supervisory organ and management organ) and a one-tier organisational structure (administrative organ). By applying the theory of network economics to company law, the article firstly shows that path dependency may arise in the choice of the adopted structure on the basis of the past national regulation. Secondly, the article shows that to overcome this path dependency the incorporation theory would be superior to the real seat theory as provided for by the statute of the SE.

Suggested Citation

  • Lombardo Stefano & Pasotti Piero, 2004. "The Societas Europaea: a Network Economics Approach," European Company and Financial Law Review, De Gruyter, vol. 1(2), pages 169-205, August.
    • Handle: RePEc:bpj:eucflr:v:1:y:2004:i:2:p:169-205:n:2
    DOI: 10.1515/ecfr.2004.1.2.169
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    Cited by:

    1. McCahery, J.A. & Vermeulen, E.P.M., 2005. "Does the European company prevent the 'Delaware-effect'?," Discussion Paper 2005, Tilburg University, Tilburg Law and Economic Center.

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