期刊名称：HIER Discussion Paper Series / Harvard Institute of Economic Research
出版年度：2000
卷号：2000
出版社：Harvard Institute of Economic Research
摘要：Tunnelling is defined as the transfer of assets and profits out of firms for the benefit of their controlling shareholders. We describe the various forms that tunnelling can take, and examine under what circumstances it is legal. We discuss two important legal principles--the duty of care and the duty of loyalty--which courts use to analyze involving tunnelling. Several important legal cases from France, Belgium, and Italy illustrate how and why the law accommodaates tunnelling in civil law countries, and why certain kinds of tunnelling are less likely to pass legal scrutiny in common law countries.
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