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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.

Antitrust and Competition

The Counterfeit Capitalism of WeWork: Predatory Pricing as a Business Model

Matt Stoller
The company failed to go public and its founder, Adam Neumann, had to step down. This is good news: ordinary investors refused to put...
ESG, Corporate Governance & Future of the Firm

The Problem With Unicorns: Why Investors Stopped WeWork From Going Public

Jeffrey Carter
More and more startups are valued at over $1 billion, even if they have dysfunctional corporate structures and hazardous business models. For tech companies,...
Academic Capture

Presenting: The Stigler Center’s Report on How to Rein in Big Tech

ProMarket writers
The Stigler Center presents its policy suggestions on how to address the political and economic issues raised by the market power of tech platforms...
ESG, Corporate Governance & Future of the Firm

Walmart and Gun Control: Should Companies Self-Regulate When the Government Doesn’t Act? A New Capitalisn’t Episode

ProMarket writers
The biggest retailer in the US decided to end all handgun ammunition sales, and the four largest automakers announced a private deal with California...
ESG, Corporate Governance & Future of the Firm

The Business Roundtable CEOs’ Statement: Same Old, Same Old

Luca Enriques
Despite the media hype about corporate CEOs having abandoned their shareholder value maximization credo, the recent statement from the Business Roundtable contains nothing new...
Antitrust and Competition

Towards the Giant Three: The Rise and Rise of the Big Three Index Funds

Lucian Bebchuk
The Big Three index fund managers—BlackRock, Vanguard, and State Street Global Advisors—hold a significant proportion of the stock of US public companies, and they...
Antitrust and Competition

Dear Graduates, Here’s What You Can Do to Change Capitalism For the Better

Luigi Zingales
Delivering UChicago’s 532nd Convocation address, Luigi Zingales advised young graduates to embrace their power as consumers, workers, and citizens and fight corporate monopolies. Dear...
ESG, Corporate Governance & Future of the Firm

Chicago Booth/Kellogg School Financial Trust Index Shows Americans’ Trust in Financial Institutions Increasing After Rocky Decade

Paola Sapienza
Financial trust increased from 22 percent in 2008 to 28 percent at the end of 2018, according to a survey marking the 10-year anniversary...
ESG, Corporate Governance & Future of the Firm

New Empirical Studies Show: When It Comes to Productivity, Management Matters

Raffaella Sadun
Research has shown that studying the causes and implications of management across organizations can be of much benefit to economics. It is well documented((This piece...
ESG, Corporate Governance & Future of the Firm

Making Your Vote Count: Does the Voting Behavior of Asset Managers Truly Reflect Their Clients’ Interests?

Mikael Homanen
In the past five years, thanks to growing public pressure, there has been increased attention on the voting behavior of asset managers. As a...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.