Appraisal of the Rules of Shareholders' Protection in the Commercial Code of Ethiopia 2021: Are there Improvements from the Old Commercial Code?

Abstract

This article, by applying the Leximetric Approach, evaluates the adequacy of the rules of shareholders' protection in the New Commercial Code of Ethiopia 2021 in comparison with the relevant provisions of the 1960 Code with the intention of ascertaining whether the New Code has adequately addressed and responded to the deficiencies of the Old Code in protecting shareholder interests and argues that, by comparison, the rules of shareholders' protection in the New Code are highly improved and accord stronger protection to the interests of shareholders in general and minority shareholders in particular.