Corporate Governance rules as a tool for corporate restructuring

Postgraduate Thesis uoadl:2707645 231 Read counter

Κατεύθυνση Εταιρείες και Χρηματοδότηση
Library of the School of Law
Deposit date:
Stratakos Dimitrios
Supervisors info:
Γεώργιος Μιχαλόπουλος, Καθηγητής, Νομική Σχολή, ΕΚΠΑ
Λία Αθανασίου, Καθηγήτρια, Νομική Σχολή, ΕΚΠΑ
Χριστίνα Λιβαδά, Επίκουρη Καθηγήτρια, Νομική Σχολή, ΕΚΠΑ
Original Title:
Οι κανόνες Εταιρικής Διακυβέρνησης ως μοχλός εξυγίανσης-αναδιοργάνωσης μιας επιχείρησης
Translated title:
Corporate Governance rules as a tool for corporate restructuring
This thesis conducts an analysis of the link between corporate governance rules and a company’s risk of insolvency. In order to frame the understanding of this link, the paper outlines the ineffective management practices that lead a corporate entity to insolvency. In addition, it specifies the available corporate governance tools that can resolve problematic management practices. More specifically:

The first section of the paper outlines the obligations and ensuing responsibilities of the Board of Directors, as derived from agency theory. Following that, the paper presents an analysis of the business judgement rule as a measure that limits directors’ obligations to the duty of care, alongside deviations within management discretion that are highly likely to lead to a company’s insolvency. At this stage, the paper attempts to draw a link between a company’s negative financial performance and the absence of corporate governance rules.

The second section of the paper examines the corporate governance mechanisms that have a positive effect on a company’s operation, strengthening and improving management practices and the internal audit mechanism. Finally, the paper outlines the positive consequences of applying corporate governance rules, using evidence from relevant surveys, with particular emphasis on the utility of these rules as a means of accessing various financing tools that are linked to the eventual solvency of the restructured corporate entity.
Main subject category:
Law and Legislation
Other subject categories:
Commercial Law
Company law
Bankrupty law
business judgement rule, Board of Directors, insolvency, resolution, corporate governance, corporate restructuring
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Διπλωματική (Pergamos).pdf (1 MB) Open in new window