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2 results

Corporate Groups and Shadow Business Practices
  • Linn Anker-Sørensen
  • Published online:
    04 May 2022
    Print publication:
    28 April 2022
  • The uniqueness of this book is its conceptualization of a corporate group as a system of interaction, comprised of nodes, links and internal governance tools. This framework can be used to understand what constitutes a group, based on affiliation-linkages. By increasing our perception of group-structuring we can assess the extent to which existing laws address all variables. If the law does not consider certain variables to be used for identifying groups, a case of shadow business may be identified. Group-transparency is a recurring topic on the regulatory agenda. In this book, three legal domains are analysed questioning whether specific amendments have led to increased group-transparency: the control-definition for consolidated accounts, shareholder-transparency in company law, and major holding disclosure in listed companies. This book identifies deficiencies of the law in obtaining its regulatory objective of group-transparency, and proposes an interpretative solution based on Systems Thinking.

  • 15 - Bringing It All Together

  • from Part VI - Results
  • Linn Anker-Sørensen
  • Book:
    Corporate Groups and Shadow Business Practices
    Published online:
    04 May 2022
    Print publication:
    28 April 2022, pp 287-290

  • Summary

    This chapter points to the importance of addressing shadow business practices through a functional perception of de facto control. The book has shown that shadow business practices are a potential outcome whenever a formal definition of control is applied. I conclude by arguing that the European Union should strive to use its power as a norm creator to establish a harmonized concept of de facto control based on a Systems Thinking approach.