International experience of raidership

Abstract

Raidership is a constant threat to any business that cannot be predicted and completely eradicated. According to analytical data, raidership is one of the most serious threats to business. Its spread is a consequence of the illusions of business owners who are convinced that by exercising total control over business management. These are only illusions. Raidership as a concept originated in Great Britain. This term was used to describe raids by ships that seized merchant ships from other countries. Over the past 20 years, corporate raids have largely depended on the political, legal, and institutional situation in a country. In developed countries, there is usually no active market for hostile takeovers. Counteracting raidership in different countries of the world involves both general and targeted restrictions on share transactions; creation and compliance with corporate governance codes; and adoption of special laws regulating mergers and acquisitions. Not only governments, but also non-governmental organizations are actively involved in developing general approaches to the principles of protecting business entities from raidership. The efforts of state authorities are primarily aimed at improving corporate legislation to ensure that certain standards of competition, disclosure of information about the company, protection of shareholders' rights and equal treatment are mandatory. The business community is focused on developing corporate governance rules and procedures that would be voluntarily adopted by the business community, comply with internationally recognized principles and take into account national peculiarities. This work resulted in the emergence of so-called Corporate Governance Codes in various developed countries. Such a code is a set of voluntarily adopted standards and internal regulations that establish and regulate corporate relations.