Delnice z večkratno glasovalno pravico : odstop od načela ena delnica - en glas

slovenian

2026

volume 52, issue 1

"one share - one vote" principle   control   Directive 2024/2810   economic analysis   multiple voting right   multiple-vote shares   share classes

Narodna in univerzitetna knjižnica
(Obvezni izvod spletne publikacije)

As part of the EU’s efforts to strengthen its capital markets, the Directive 2024/2810 was adopted in 2024, requiring Member States to allow companies to introduce, in certain cases, multiple-vote share structures. Voting rights regimes have traditionally varied widely across Member States, and the issue of multiple voting rights has long been controversial at both national and European level. The introduction of multiple-vote shares, which represents a departure from the deeply rooted principle of “one share - one vote” in many countries, will therefore be a major conceptual shift in company law, including in Slovenia. Besides the advantages of multiple-vote shares, which are mainly in maintaining the founders’ control over the company and consequently providing an incentive to increase the number of initial public offerings (IPOs) and fostering company growth, the warnings of economic literature and empirical studies about the possibility of exploiting such share structures for private benefits cannot be overlooked. An economically efficient legal framework can be achieved by balancing the positive and negative effects, arising from the introduction of multiple-vote shares.

12.10.2026