Hornuf, L, Mohamed, A and Schwienbacher, A (2019) The Economic Impact of Forming a European Company. Journal of Common Market Studies, 57 (4). pp. 659-674. ISSN 0021-9886
Abstract
Ever since 2004 companies located in Member States of the European Economic Area have been able to opt to incorporate in a supranational legal form, the Societas Europaea. We found that companies located in Member States where the Societas Europaea offers additional legal arbitrage opportunities benefit most. Moreover, our results show that the stock price reaction is positive when the decision to incorporate as an Societas Europaea involves moving the firm's registered office and that firms are moving to jurisdictions with significantly lower corporate tax rates. Finally, we found evidence of uncertainty at the registration date but not at the time of the shareholder meeting.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2019 The Authors JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) (https://creativecommons.org/licenses/by/4.0/) |
Keywords: | corporate governance; incorporation; Board structure; transfer of seat; Societas Europea |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 20 Jun 2019 13:06 |
Last Modified: | 25 Jun 2023 21:52 |
Status: | Published |
Publisher: | Wiley |
Identification Number: | 10.1111/jcms.12839 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:147562 |