CEU Electronic Theses and Dissertations, 2020
| Author | Khasmammadov, Huseyn |
|---|---|
| Title | Meaning, Functions, and Problems Corollary to Stock Repurchases in Delaware and New York: Lessons for the Republic of Azerbaijan |
| Summary | The application of stock repurchases in the activities of corporations has gradually been increasing in the last decades. However, the understanding of the economic role of stock repurchases and the connected regulatory policies in various legal systems are quite different. As a result, different attitudes lead to the formation of different rules and standards, some of which sometimes seem to be erroneous and inappropriate. Particularly in Azerbaijan, the general perception of share buybacks is different from that in the US. After Azerbaijan gained independence in 1991, capitalism began to emerge in the country, and new concepts such as private property and private company began to appear in society. A sharp transition from socialism to capitalism was reflected in the reform of legislation, but reforms in developing countries are not always successful and sometimes even cause problems. One such problem in Azerbaijan is in the rules regulating the field of corporate finance. In this connection, the dominating line of the present thesis is in revealing solutions to some problematic issues regarding the perception and practical application of share buybacks in Azerbaijan on the example of good experiences and practices of the United States. For this reason, the present thesis focuses on the differences of the legal treatment of stock repurchases in the jurisdictions of the US – the legislation and regulatory policies of the States of Delaware and New York – and the Republic of Azerbaijan (hereinafter: Azerbaijan). Particularly, the legal framework of the States of Delaware and New York were chosen as they are two leading jurisdictions in this domain. The thesis addresses the differences in meaning and functions of stock repurchase, as well as the economic consequences of distinct attitudes towards the function of stock repurchase. In addition, the paper analyzes which attitudes are more advantageous and what are their reasons. Finally, based on a comparative analysis, the thesis will come forward with recommendations for Azerbaijan regarding appropriate changes in legislation. |
| Supervisor | Tajti Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2020/khasmammadov_huseyn.pdf |
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