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Title: De verdeling van beslissingsbevoegdheden tussen algemene vergadering en raad van bestuur in de NV
Other Titles: The distribution of decision-making authority between the shareholders meeting and the board of directors in the stock corporation
Authors: Cools, Sofie
Issue Date: 1-Oct-2014
Abstract: Questions about the distribution of powers within corporations often make headlines in the media. During the downfall of Fortis extensive discussions have been held about the question whether the board of directors has authority to sell essential assets of the corporation and “say on pay”, shareholders’ clout on fixing remuneration of directors and managers caused a heated debate in many countries. The legislator can only react, but systematically offers ad hoc solutions. Legal doctrine and economic/empirical research often limit the scope of their recommendations to the authority for specific decisions. A general framework for the distribution of powers between the shareholders meeting and the board of directors is lacking.In my dissertation I attempt to stop this gap through a holistic approach of the distribution of decision-making authority between the shareholders meeting and the board of directors in Belgian stock corporations. The large diversity of decisions is analyzed against the backdrop of increasing complexity of decisions and stock ownership patterns. The purpose is to develop a framework for a corporate law policy which allows for efficient decision-making in all situations, relying on economic, (internal and external) comparative insights and existing empirical research.
Publication status: published
KU Leuven publication type: TH
Appears in Collections:Jan Ronse Institute for Company and Financial Law

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