Corporate Governance (Green Paper)

According to the Commission, short-termism and excessive risk-taking endanger sustainable economic growth and the stability of the financial market. To tackle these issues, the Commission proposes to increase shareholders’ participation in corporate decisions and the transparency of asset managers’ and advisors’ activities. Finally the Commission discusses the promotion of women and calls for a women’s quota system.


It is correct that more transparency in the remuneration policies of listed companies and of asset managers‘ activities make it easier for shareholders to exercise their voting rights. As for the rest, however, the Commission’s proposals are far away from a market economy order. For instance, risky short-termism is not generally negative and a women’s quota system intervenes in the shareholders’ property rights.