Guido Rossi

Corporate governance between contractualization and regulatory competition

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The paper analyzes the changes that have swept the "Company law" in recent decades, in the name of the so-called "corporate governance". If one considers the current framework of joint stock companies, the change from the past is impressive: we are no more in front of a unitary discipline and mandatory provisions, but of a competition among legal systems and a contractualization of Company law. Today, in fact, Company law has become a vast and ragged carpet of laws and contractual arrangements, in the wave of the "nexus of contracts" theory. This metamorphosis has destroyed its legal and judicial foundations, undisputed until a few decades ago. Also the concept of "Legal Person", who has accompanied decades of Corporate doctrine, has been finally replaced by the indefinite and problematic concept of "corporate governance".

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