Open AccessLEGAL STATUS OF MANAGEMENT BODIES IN SHARE HOLDING COMPANIES IN FRANCE AND IN RUSSIA
Author(s) -
Ольга Терновая,
Olga Tyernovaya
Publication year - 2015
Publication title -
žurnal zarubežnogo zakonodatelʹstva i sravnitelʹnogo pravovedeniâ
Language(s) - English
Resource type - Journals
eISSN - 2587-9995
pISSN - 1991-3222
DOI - 10.12737/16137
Subject(s) - joint stock company , legislation , corporate governance , corporate law , accounting , stock (firearms) , legal status , business , parent company , political science , law , law and economics , multinational corporation , subsidiary , economics , finance , engineering , mechanical engineering
The article reviews legal nature of joint stock companies’ corporate bodies in accordance with the French and Russian legislations. Despite the influence of Anglo-American approaches on the formation of the Russian corporate legislation, the author proposes to more actively take into account the positive experience of countries with the continental law as they are closer to the Russian juridical reality. In this context the author pays special attention to the French legislation on joint stock companies. The author notes two most powerful trends in the evolution of the French corporate legislation: on the one hand, these are major changes in the substantive legal framework for governance and relations between the participants and the company, and on the other hand — important changes in legal regulation over governance and relations between the company participants. Comparison of certain issues in the legal nature of joint stock companies’ corporate bodies (boards) in Russia and France allows making the conclusion that the French legislation regulates in more detail such topical issues as peculiarities of the joint stock companies’ governance models, powers of a sole executive body, basis for civil responsibility of persons who are part of corporate bodies of a joint stock company.