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ESG, Corporate Governance & Future of the Firm

The system of formal and informal rules by which a company is governed. Corporate governance shapes more than just a given’s company value – it dictates who controls the capital in the economy and so how this capital is being put the use. Corporate governance therefore affects and is affected by the degree of cronyism and rent-seeking in society.

ESG, Corporate Governance & Future of the Firm

Depositors Disciplining Banks: The Impact of Scandals

Mikael Homanen
Can depositor activism make a real difference? New research set to be presented at the upcoming Stigler Center Political Economy of Finance conference examines the Dakota...
ESG, Corporate Governance & Future of the Firm

Do Firms Use Capital and Labor Efficiently? Evidence and Implications of Resource Misallocation

Simone Lenzu
Economists have for a decade or so theorized that moving productive inputs like labor and capital into the firms that make the best use...
ESG, Corporate Governance & Future of the Firm

Investing in Quality Early Childcare Is Good for Vulnerable Kids—and Good Economics, Too


Rafael Lalive
Early childcare can be a major contributor to eliminating inequality of opportunity and even lay the foundations for a more productive workforce in the...
ESG, Corporate Governance & Future of the Firm

The Motives of “Joiners” Explain Higher Rates of Innovation in Startup Firms

Henry Sauermann
It’s not just the founders of startups who boast an entrepreneurial spirit and a willingness to take risks. Those who join new ventures show...
ESG, Corporate Governance & Future of the Firm

The Culture of Overconfidence: Why Leaders Stick to Pet Projects That Aren’t Working

V. Bhaskar
What are the rational incentives for executives or politicians to push ahead with failing or inefficient initiatives? For answers, authors Bhaskar and Thomas look...
ESG, Corporate Governance & Future of the Firm

Do We Need to Mandate Firms’ Reporting And Auditing?

Matthias Breuer
Back in the 1960s, George Stigler called into question whether states should require firms to publicly report their financials. A recent Stigler Center working...
ESG, Corporate Governance & Future of the Firm

Are Innovators Born or Made?

Elizabeth Lyons
The question of whether people are born with innovative talent or can develop it has knock-on effects to issues ranging from productivity growth in...
ESG, Corporate Governance & Future of the Firm

Top5itis: The Disease that Affects Economics

Roberto Serrano
Top5itis is a disease that currently affects the economics discipline. It refers to the obsession of the profession of academic economists with the so-called...
ESG, Corporate Governance & Future of the Firm

10th Year of Chicago Booth/Kellogg School’s Financial Trust Index Shows an Uptick of Public Faith in Markets

Linda Wu
A decade after the financial crisis, average faith in market institutions is recovering—especially among high-income individuals and Republicans—while trust in government is on a...
ESG, Corporate Governance & Future of the Firm

Oliver Hart and the Poetry of Economic Theory

Luigi Zingales
At this year's annual ASSA meeting, Stigler Center Director Luigi Zingales delivered a lecture honoring Oliver Hart, winner of the 2016 Nobel Prize for economics. Read...
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