Corporate Governance 2.0: Assessing the Corporate Governance Green Paper of the European Commission

Starting with a short overview of the state of the art of European corporate governance features, the authors address the major issues of the Commission's green paper on corporate governance of April 2011. They identify three pillars of corporate governance and compare practices of governance in major economies in the world to advocate that major reforms could fall short of providing the adequate equilibrium between corporate law, corporate governance codes and contracts.