The case against the implementation of loyalty shares in Spain

The Spanish Ministry of Economy has recently released a new bill that, among other aspects, proposes an amendment of the Spanish Companies Act to allow listed companies to adopt loyalty shares. These shares will confer additional voting rights to those shareholders staying in the corporation for at...

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Main Author: Aurelio GURREA-MARTINEZ
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2019
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Online Access:https://ink.library.smu.edu.sg/sol_research/3708
https://ink.library.smu.edu.sg/context/sol_research/article/5666/viewcontent/the_case.pdf
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spelling sg-smu-ink.sol_research-56662022-02-08T01:39:46Z The case against the implementation of loyalty shares in Spain Aurelio GURREA-MARTINEZ, The Spanish Ministry of Economy has recently released a new bill that, among other aspects, proposes an amendment of the Spanish Companies Act to allow listed companies to adopt loyalty shares. These shares will confer additional voting rights to those shareholders staying in the corporation for at least two years. For that purpose, the company only needs to approve the adoption of loyalty shares by a qualified majority. Therefore, following the Italian (rather than the French) model of loyalty shares, the adoption of loyalty shares in Spain will be done as an opt-in rule. 2019-07-01T07:00:00Z text application/pdf https://ink.library.smu.edu.sg/sol_research/3708 https://ink.library.smu.edu.sg/context/sol_research/article/5666/viewcontent/the_case.pdf http://creativecommons.org/licenses/by-nc-nd/4.0/ Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Controlling shareholders Corporate governance Entrenchment Loyalty shares Short-termism Business Organizations Law
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Controlling shareholders
Corporate governance
Entrenchment
Loyalty shares
Short-termism
Business Organizations Law
spellingShingle Controlling shareholders
Corporate governance
Entrenchment
Loyalty shares
Short-termism
Business Organizations Law
Aurelio GURREA-MARTINEZ,
The case against the implementation of loyalty shares in Spain
description The Spanish Ministry of Economy has recently released a new bill that, among other aspects, proposes an amendment of the Spanish Companies Act to allow listed companies to adopt loyalty shares. These shares will confer additional voting rights to those shareholders staying in the corporation for at least two years. For that purpose, the company only needs to approve the adoption of loyalty shares by a qualified majority. Therefore, following the Italian (rather than the French) model of loyalty shares, the adoption of loyalty shares in Spain will be done as an opt-in rule.
format text
author Aurelio GURREA-MARTINEZ,
author_facet Aurelio GURREA-MARTINEZ,
author_sort Aurelio GURREA-MARTINEZ,
title The case against the implementation of loyalty shares in Spain
title_short The case against the implementation of loyalty shares in Spain
title_full The case against the implementation of loyalty shares in Spain
title_fullStr The case against the implementation of loyalty shares in Spain
title_full_unstemmed The case against the implementation of loyalty shares in Spain
title_sort case against the implementation of loyalty shares in spain
publisher Institutional Knowledge at Singapore Management University
publishDate 2019
url https://ink.library.smu.edu.sg/sol_research/3708
https://ink.library.smu.edu.sg/context/sol_research/article/5666/viewcontent/the_case.pdf
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