title: A simple joint-stock company: An innovative model of protection for creditors and investors in Poland
metadata.name: dc.contributor.author
metadata.value: Sójka, Tomasz
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2022-06-28T14:33:26Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2022-06-28T14:33:26Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2021-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Sójka, Tomasz. 2021. A simple joint-stock company: An innovative model of protection for creditors and investors in Poland. Pravovedenie 65 (2): 141–154.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu25.2021.201
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/36993
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: The article discusses the most important features of a new type of company in Poland, namely
  the simple joint-stock company (SJSC) introduced to the Commercial Companies Code by the
  bill of 19 July 2019. The new company form combines the limited liability of shareholders with
  a large degree of flexibility, both in terms of shaping mutual relations between shareholders
  and the company’s management system. There are no significant limitations to the structure of
  preference shares. Shareholders can choose between different board models. SJSC is characterised,
  on the one hand, by a lack of excessive formalities associated with its establishment,
  and on the other, by an agile mechanism to protect the company’s creditors based on a liquidity
  test. The legal capital concept was abandoned; work and services are permitted as in-kind contributions.
  Ownership rights in a SJSC are incorporated in dematerialised shares, and the use
  of them in private trading raises a number of new legal problems. This study focuses, among
  other things, on the protection of investors purchasing company shares under the provisions of
  the MIFID II Directive (Markets in Financial Instruments Directive). Considering the sociological
  foundations of the changes in corporate law taking place in Poland, the author notes that
  projects based on modern technologies, in particular information technologies, are becoming
  a prevailing component of the modern economy. The use of these technologies leads to far
  reaching changes in the structure of individual market segments (market destruction). Current
  business models are gradually losing relevance and are being replaced by dynamically developing
  technology companies. An example is the slow decline of traditional linear television and
  the emergence of enterprises offering so-called “streaming” of selected audiovisual content
  over the Internet directly to consumers (for example, Netflix), or a reduction in the distribution of
  music content on CDs for music playback by online integrators (for example, Spotify). However,
  technology companies have their own far reaching specifics. They are based not only on the
  latest technological solutions, but also on the visionary entrepreneurship of their founders regarding the potential market applications of these technologies (Bill Gates, Steve Jobs, Jeff
  Bezos and others). It is safe to say that without the charismatic and visionary personalities of
  founders, companies like Apple or Amazon would not have appeared as we know them. This
  is due to the fact that recognizing the potential needs of consumers that can be met with new
  technological solutions requires creativity that is characteristic of geographical explorers or inventors,
  and not stereotypical entrepreneurs. Human capital — knowledge and entrepreneurship
  are beginning to dominate the market economy in the modern world.
metadata.lang: en_GB
metadata.name: dc.description.sponsorship
metadata.value: The research project resulting in this study was financed by the National Science Centre, Poland,
  granted on the basis of decision No. DEC-2013/09/B/HS5/00289.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Pravovedenie;Volume 65; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: simple joint-stock company
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: company law reform
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: creditor protection
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investor protection
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investment services
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: A simple joint-stock company: An innovative model of protection for creditors and investors in Poland
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 13328-Article Text-43222-1-10-20220415.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/36993/1/13328-Article%20Text-43222-1-10-20220415.pdf
resources.format: Adobe PDF
resources.size: 761,16 kB