Karthik Ramanna

Karthik Ramanna is a professor of business and public policy at Oxford university’s Blavatnik School of Government. Ramanna joined Oxford in 2016, after nearly a decade on the faculty of Harvard Business School. At Harvard, he also held the Henry B. Arthur Fellowship in ethics, the Marvin Bower Fellowship recognizing innovative faculty research, and a visiting fellowship at the Kennedy School of Government. Additionally, he is a faculty associate of the Weatherhead Center for International Affairs. He received his Ph.D. in management from the Massachusetts Institute of Technology. Ramanna’s scholarship explores the role of business leadership in shaping the basic rules that govern capital-market societies. His book Political Standards (University of Chicago Press) studies the political and economic forces that have shaped corporate financial reporting standards over the last 30 years. He argues that accounting rulemaking is an allegory for the “thin political markets” where businesses shape – and sometimes subvert – the essential technical edifices of our economy. Ramanna has authored over two-dozen HBS case materials and over a dozen original research articles in leading professional outlets such as the Accounting Review, the California Management Review, and the Harvard Business Review. His scholarship has won awards from numerous bodies such as the American Accounting Association. He serves on the editorial boards of several scientific journals, including as co-editor of the interdisciplinary journal Accounting, Economics & Law and as associate editor of the Journal of Accounting & Economics, the most-cited outlet in that field.

This Proposal Could Inadvertently Improve Corporate Accounting

A provision within the Biden administration’s Build Back Better bill that assesses a minimum tax on certain companies based on their income...

Addressing Climate Change Must Begin with Verifiable Carbon Accounting

Robert Kaplan and Karthik Ramanna propose a new approach for verifiable accounting on indirect corporate emissions that would apply to all corporations,...

Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism

In 2010, as the world was reeling from the global financial crisis, the body that determines generally accepted accounting principles for listed...

The Metaphysics of Regulatory Capture

Stiglerian capture and corrosive cultural capture, its left-leaning parallel, are ostensibly symbionts, two attempts at identifying impediments to keeping markets competitive by...

The Case for Optimism About America

The good news is that America is still the engine of global wealth creation: nothing fosters political pragmatism like prosperity. But there...

Seven Reasons Why the Wirecard Fraud Matters

We now know that Wirecard was a massive fraud. The company—treated like a rock star by regulators and key players in finance—fabricated...

Corporations Are Already Plenty Powerful. Stakeholder Capitalism Could Make Them More So

Encouraging corporations to further step into the role of governments and civil society groups by becoming more "socially focused" risks greater depreciation...

Are We Witnessing the Fall of the American Liberal Order?

In the past 30 years, liberalism has not lived up to its promise to deliver economic returns for the broad majority of...

Election Timetabling Is Not the Role of Judges

As wrong as it is that the Wisconsin elections were held under patently unsafe conditions, it is not the place of the courts to...

The Solution to the Auditing Industry’s Oligopoly Problem? More Competition

The UK’s reviews of the Big Four auditing firms have largely adopted an approach of more regulation and government oversight. This approach is not...

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Should The Competitive Process Test Replace The Consumer Welfare Standard?

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...

Mergers and Smoking Guns

A recently uncovered memo from George Stigler and Richard Posner reveals how they thought about antitrust and merger policy in advising the...

Will “Portfolio Primacy” Throw a Monkey Wrench in Elon Musk’s Plans to Acquire Twitter?

The SEC's definition of fiduciary duty allows institutional shareholders to vote against Elon Musk's Twitter takeover bid thanks to portfolio primacy.