# kaal:claim:617681-003

**Claim.** The Societas Europaea has drawn a less than enthusiastic initial reaction, plausibly because its rules are the product of years of negotiation and political compromise rather than a response to market forces.

**Type.** failure  **Support.** argued

**Holds when.**

- the SE as of 2004, shortly before it entered into force

**Source quote.**

> It has yet to be seen whether managers and investors view the SE as a viable alternative, but initial reaction has been less than enthusiastic, perhaps because the rules governing an SE are the product of years of negotiation and political compromise rather than a response to market forces.

**From.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, *Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro* (2004), A. Introduction, page 6

**Cite as.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681

**Verify.** sha256 of source PDF `e142130507ea2f5b025fd97b3f762d44ee3a7aaa82b155aab63434b85e8fd834` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kirchner%20et%20al.%20-%202004%20-%20Regulatory%20Competition%20in%20EU%20Corporate%20Law%20after%20Inspire%20Art%20Unbundling%20Delaware%27s%20Product%20for%20Euro.pdf

**Failure mode.** politically-negotiated-legal-product  (family: harmonization-and-standardization-failure)

**Topics.** institutional-design

**Keywords.** societas-europaea, harmonization, public-ordering, corporate-law

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