Research report 2012 - Max Planck Institute for the Study of Societies
The demise of the Golden Share: How the European Court of Justice is liberalizing corporate governance
Max-Planck-Institut für Gesellschaftsforschung, Köln
SummaryEuropean systems of corporate governance have so far resisted harmonization because of the diverging interests of member states. With its “Golden Shares” judgment, the European Court of Justice has however begun to independently impose a liberal market approach to corporate governance. How has such a politically sensitive move towards integration been possible against the wishes of member states?