| Abstract [eng] |
From Shareholder’s Rights to Shareholder’s Duties: What is the Direction of EU Company Law? EU company law has only shifted its focus onto shareholders’ rights and duties since the beginning of the 21st century. Until then, a shareholder’s role was noted, but in terms of legislation, it was more of a national company law prerogative of the members states. EU institutions have been constantly highlighting that effective and sustainable shareholder engagement is one of the cornerstones of listed companies’ corporate governance model. Therefore, the conditions under which shareholders could exercise their rights have to be favourable, non-discriminatory and realistically enabling. It seems that in this context EU institutions did not pay too much attention to shareholders’ duties when focusing on company law legislation. Due to such tendencies, this thesis aims at explaining the characteristics and problems of shareholders’ rights and duties legislation in Lithuania and the EU. It also questions the goals of EU company law: was the legislation created to ensure shareholders’ rights or to achieve the balance between shareholders’ rights and duties within a company? The thesis analyses the EU company law system that regulates property and non-property rights, shareholders’ duties to the company and to other shareholders and third parties. The analysis of the changes and development within the company law legislation – in the context of the shareholders’ rights and duties – shows positive changes as well as areas for improvement. The thesis concludes that the development of EU company legislation focuses on establishing the means for shareholders to exercise their rights whilst being encouraged to ensure a stable company operation in the process. The thesis also confirms that EU company law does not aim at defining or determining the shareholders’ duties in order to use their rights. |
