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Report on Disclosure of Ownership and Control

Preliminary Report to the European Commission

On 27 October 1997, papers were submitted to the European Commission in the form of a Preliminary Report. The Report, which was presented to the Commission at an informal meeting in Brussels on 20 February 1998, is available in full, or in four separate volumes:

If to wish to cite the report and/or the papers and/or materials contained therein, please do so as indicated on the citation page.

Preliminary Reply from the European Commission

Preliminary Reply to the Preliminary Report by Susan M. Binns, DGXV - D, European Commission. Susan M. Binns is a Director in the Directorate-General XV (Internal Market and Financial Services) of the European Commission. Her responsibilities include the free movement of information, company law and financial information.


Reactions to the Report and/or the Reply

Individual Papers

Austria The Separation of Ownership and Control: An Austrian Perspective
  Klaus Gugler, Alex Stomper and Josef Zechner (University of Vienna) and Susanne Kalss (University of Economics, Vienna).
Belgium Ownership and Control in Belgium
  Marco Becht (Université Libre de Bruxelles and Fondazione Eni Enrico Mattei) and Ariane Chapelle (Université Libre de Bruxelles)
  Concentration of Ownership and Pyramidal Shareholding Structures in Belgian Listed Companies
  Luc Renneboog (Catholic University of Leuven)
France Ownership and Control in France
  Laurence Bloch (INSEE, Paris) and Elizabeth Kremp (Banque de France)
Germany Transparency of Ownership and Control in Germany
  Marco Becht (Université Libre de Bruxelles and Fondazione Eni Enrico Mattei) and Ekkehart Böhmer (Humboldt Universität Berlin) [update 1999]
Italy Ownership, Pyramidal Groups and the Separation between Ownership and Control in Italy
  Marcello Bianchi (CONSOB, Rome) Magda Bianco and Luca Enriques (Banca d’Italia)
The Netherlands Ownership and Control in The Netherlands
  Abe De Jong, Rezaul Kabir, Teye Marra (Tilburg University) and Ailsa Röell (Tilburg University, Université Libre de Bruxelles and Princeton University)
Spain A Survey on Spanish Corporate Governance Rules, Statistics and Institutions
  Rafel Crespi (Universitat Autònoma de Barcelona)
The European Union(Executive Report) Strong Blockholders, Weak Owners and the Need for Mandatory European Disclosure
  Marco Becht (Université Libre de Bruxelles and Fondazione Eni Enrico Mattei)
United States Beneficial Ownership of Listed Companies in the United States
  Marco Becht (Université Libre de Bruxelles and Fondazione Eni Enrico Mattei)