View More View Less
  • ** University of Pécs, Pécs, Hungary
Full access

The European Commission has started the review of the prospectus regulation scheme in 2013 in order to facilitate the development of the Capital Markets Union. One of the aims of the reforms intends to give access to small —medium sized enterprises (SMEs) to the capital markets throughout Europe. The reason behind that is to make those companies less dependent on loans and other debt-based capital raising methods to unlock their full potential. Studies have shown that the European SME sector is heavily dependent on banks for financing, which actually hurts their prospects in the long run. Gaining access to the public capital markets can be mainly achieved by getting listed. Unfortunately, there are many regulatory hurdles which a company must face in order to successfully launch themselves on stock exchanges. One of such is the preparation of the so-called prospectus document. The aim of the paper is to explore the mandatory content requirements for prospectuses in Europe for SMEs and through that to find out if the current provisions are adequate.

  • Akerlof, G. A., ‘The Market for “Lemons”: Quality Uncertainty and the Market Mechanism’ (1970) 3 The Quarterly Journal of Economics 488500.

    • Search Google Scholar
    • Export Citation
  • Bujtár, Zs., ‘Gondolatok Kecskés András és Halász Vendel “Stock Corporations a Guide to Initial Public Offerings, Corporate Governance and Hostile Takeovers” címu könyvérol’ (2015) 11 Európai jog, 3640.

    • Search Google Scholar
    • Export Citation
  • Coke, M., ‘Success in the Form of an IPO: A Brief Case Study of A123 Systems, Inc.’ (2009) 4 Nanotechnology Law & Business, 513520.

    • Search Google Scholar
    • Export Citation
  • Dwyer, B., Kotey, B., ‘Financing SME Growth: The Role Of The National Stock Exchange Of Australia And Business Advisors’ (2015) 25 Australian Accounting Review, 114123.

    • Search Google Scholar
    • Export Citation
  • Ferencz, B., ‘Felelos társaságirányítási felvetések a General Motors gyújtáskapcsoló-botrány tükrében’ (2015) 2 JURA 170174.

    • Search Google Scholar
    • Export Citation
  • Fischer-Appelt, D., ‘Amendments to the EU Prospectus Directive Regime’ (2014) 2 Business Law International 95114.

  • Fischer-Appelt, D., ‘The revised EU Prospectus Regulation: key changes to the contents of prospectuses’ (2012) 2 Law and Financial Markets Review, 249257.

    • Search Google Scholar
    • Export Citation
  • Geddes, R., IPOs and Equity Offerings (Butterworth-Heinemann 2008).

  • Halász, V., ‘Beveszik-e az amerikai méregpirulát az Európai Unióban?’ (2012) 1 Európai jog 3-16.

  • Kecskés, A., Halász, V., Stock Corporations – A Guide to Initial Public Offerings, Corporate Governance, and Hostile Takeover(HVG-ORAC-LexisNexis 2013).

    • Search Google Scholar
    • Export Citation
  • Kripke, H., ‘A Search for a Meaningful Securities Disclosure Policy’ (1975) 2 The Business Lawyer 293317.

  • Kripke, H., ‘The Myth of the Informed Layman’ (1973) 2 The Business Lawyer, 293317.

  • Mann, B. A., ‘Prospectuses: Unreadable or Just Unread? – A Proposal to Reexamine Policies Against Permitting Projections’ (1971) 2 The George Washington Law Review, 222235.

    • Search Google Scholar
    • Export Citation
  • Rousseau, St., ‘The Future of Capital Formation for Small and Medium-sized Enterprises: Rethinking Initial Public Offering Regulation after the Restructuring of Canadian Stock Exchanges’ (2000) 34 Revue Juridique Themis 661760.

    • Search Google Scholar
    • Export Citation
  • Spindler, J. C., ‘IPO Liability and Entrepreneurial Response’ (2007) 5 U Pa L Rev 11871228.

  • Varriale, G., ‘Fixing Europe’s Funding Model’ (2013) 32 International Financial Law Review, 174183.

  • Whincop, M. J., ‘Due Diligence in SME Fundraising: Reform Choices, Economics and Empiricism’ (1996) 2 UNSW Law Journal, 433440.

Submit Your Manuscript

 

The author instruction is available in PDF.
Please, download the file from HERE.

Senior editors

Editor(s)-in-Chief: 

Co-Editors:

  • Viktor LŐRINCZ
  • Miklós KÖNCZÖL

Editors:

  • Samanatha CHEESMAN
  • Zsuzsa FEJES
  • Fruzsina GÁRDOS-OROSZ
  • Attila KUN
  • Gábor SULYOK
  • Márton VARJU

     

Editorial Board

  • Attila BADÓ
  • Mátyás BÓDIG (Aberdeen)
  • Zoltán CSEHI
  • Péter CSERNE (Hull)
  • Balázs GELLÉR
  • András JAKAB
  • Miklós KIRÁLY
  • György KISS
  • Jan KUDRNA (Praha)
  • Herbert KÜPPER (Regensburg)
  • Konrad LACHMAYER (Durham)
  • Andzrej Stanislaw MĄCZYŃSKI (Kraków)
  • Guido PFEIFER (Frankfurt am Main)
  • Miklós SZABÓ
  • Zoltán SZENTE
  • G.J.J. Heerma VAN VOSS (Leiden)
  • Bernd WAAS (Frankfurt am Main)
  • Fryderyk ZOLL (Osnabrück)

Advisory Board

  • Péter ERDŐ
  • Gábor HAMZA
  • Attila HARMATHY
  • László KECSKÉS
  • Tibor KIRÁLY
  • László KORINEK
  • László SÓLYOM
  • Lajos VÉKÁS
  • Imre VÖRÖS

Hungarian Journal of Legal Studies
P.O. Box 25
HU–1250 Budapest,Hungary
Phone: (36 1) 355 7384
Fax. (36 1) 375 7858
E-mail: acta.juridica@tk.mta.hu

Indexing and Abstracting Services:

  • Information technology and the Law
  • International Bibliographies IBZ and IBR
  • Worldwide Political Science Abstracts
  • SCOPUS
  • Cabell's Directories
  • HeinOnline

 

2020  
Scimago
H-index
3
Scimago
Journal Rank
0,158
Scimago
Quartile Score
Law Q3
Scopus
Cite Score
40/78=0,5
Scopus
Cite Score Rank
Law 447/722 (Q3)
Scopus
SNIP
0,202
Scopus
Cites
12
Scopus
Documents
0
Acceptance
Rate
84%

 

2019  
Scimago
H-index
2
Scimago
Journal Rank
0,128
Scimago
Quartile Score
Law Q3
Scopus
Cite Score
31/88=0,4
Scopus
Cite Score Rank
Law 480/685 (Q3)
Scopus
SNIP
0,247
Scopus
Cites
22
Scopus
Documents
2
Acceptance
Rate
8%

 

Hungarian Journal of Legal Studies
Publication Model Hybrid
Submission Fee none
Article Processing Charge 900 EUR/article
Printed Color Illustrations 40 EUR (or 10 000 HUF) + VAT / piece
Regional discounts on country of the funding agency World Bank Lower-middle-income economies: 50%
World Bank Low-income economies: 100%
Further Discounts Editorial Board / Advisory Board members: 50%
Corresponding authors, affiliated to an EISZ member institution subscribing to the journal package of Akadémiai Kiadó: 100%
Subscription fee 2021 Online subsscription: 480 EUR / 600 USD
Print + online subscription: 544 EUR / 680 USD
Subscription fee 2022 Online subsscription: 492 EUR / 612 USD
Print + online subscription: 556 EUR / 696 USD
Subscription Information Online subscribers are entitled access to all back issues published by Akadémiai Kiadó for each title for the duration of the subscription, as well as Online First content for the subscribed content.
Purchase per Title Individual articles are sold on the displayed price.

Hungarian Journal of Legal Studies
Language English
Size B5
Year of
Foundation
2016 (1959)
Publication
Programme
2020 Volume 61
Volumes
per Year
1
Issues
per Year
4
Founder Magyar Tudományos Akadémia
Founder's
Address
H-1051 Budapest, Hungary, Széchenyi István tér 9.
Publisher Akadémiai Kiadó
Publisher's
Address
H-1117 Budapest, Hungary 1516 Budapest, PO Box 245.
Responsible
Publisher
Chief Executive Officer, Akadémiai Kiadó
ISSN 2498-5473 (Print)
ISSN 2560-1067 (Online)