The dark side of partial ownership and financial investment in Europe What pric...
The dark side of partial ownership and financial investment in Europe What price to pay for consumers and society?
What happens when you acquire a stake in a rival firm? Are you expected to continue competing on the market as before? While partial ownership is ubiquitous, its competitive implications are traditionally underplayed under the do...
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Información proyecto PARTOWNEU
Duración del proyecto: 28 meses
Fecha Inicio: 2019-04-15
Fecha Fin: 2021-08-31
Líder del proyecto
LUNDS UNIVERSITET
No se ha especificado una descripción o un objeto social para esta compañía.
TRL
4-5
Presupuesto del proyecto
192K€
Fecha límite de participación
Sin fecha límite de participación.
Descripción del proyecto
What happens when you acquire a stake in a rival firm? Are you expected to continue competing on the market as before? While partial ownership is ubiquitous, its competitive implications are traditionally underplayed under the dogma ‘small is innocent’. Yet, this project asks: Is this EU legal position justified; to what extent; in what cases? Ultimately, what is the price for EU consumers or society to pay for any harmful effects of partial ownership beyond any efficiency gains? If the price is high, should Europe move up a gear? Or are there countervailing costs and trade-offs to be considered before deciding legal reform? With increasing stock market investing, dispersed ownership of public companies and financial intermediation in Europe too, potential concerns gain new dimensions. EU policy may not just be inert but in a wrong direction: one-sided push for a Capital Market Union or increased shareholders’ rights may amplify the EU competition law problem. The research is set to explore the hidden costs and long-term consequences of partial ownership by examining both its different substantive (competition vs corporate law) and governance (EU vs national laws) aspects in the EU context. By means of economic, multi-level legal and empirical analysis the research aims to assess whether there is a regulatory gap in Europe and if so, a solution is necessary and desirable. The supervisor with his cross-disciplinary expertise (EU law; competition & corporate law) and stellar academics in my research areas (business law; finance/microeconomics) associated with LU provide an ideal setting for the project to be effectively implemented. The research will produce new scientific knowledge; training benefits for my future academic career and societal impact (policymaking; public awareness) for stakeholders and the EU economy and democracy. For the sake of all, Europe should bridge the knowledge gap and not be left behind, when action may come as ‘too little too late’.