Corporate Governance

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...

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.

How Enlightened is Enlightened Shareholder Value?

There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider...

Are “Bankruptcy Directors” Bad for Creditors?

A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join...

Should ESG-Driven Investors and Stakeholders Divest or Engage? A Stigler Center/Rustandy Center Panel Explores

Should investors and stakeholders who wish to influence companies to promote desirable social and environmental outcomes focus on actions like divestment and...

Max Oversight Duties: How the Boeing Case Signifies a Shift in Corporate Law

Why did regulation, corporate governance, and fear of repetitional harm fail to prevent the Boeing 737 Max debacle from happening? A new...

How the US Partisan Divide Shapes Global Capital Flows

A new empirical paper explores how partisan perception affects capital allocation beyond national borders, showing that the global investment practices of US...

The Flaws and Limits of ESG-Based Compensation

Companies increasingly use ESG metrics in their compensation packages for CEOs. A new empirical study suggests that this practice has questionable promise...

How the Covid-19 Pandemic Put Corporate Stakeholder Promises to the Test

Prior to the outbreak of Covid-19, corporate leaders pledged to look after all stakeholders, not just deliver value to shareholders. Did they...

Elizabeth Holmes Is the Exception: More Women on Boards Lead to Less Corporate Wrongdoing

The so-called “opportunity theory” suggests that women are statistically underrepresented in white-collar offenses because they are underrepresented in higher corporate echelons. A...

Latest news

Antitrust and Rule by Judges

The early-1980s Posner-Stigler memorandum to incoming president Reagan’s transition team is interesting for a host of reasons, but most of all in...

Should the European Union Require Tech Firms to Adopt a Common Charger?

According to a new European Commission directive expected to be approved in the next few months, tech firms will have to use...

Chart of the Week: Economists Don’t Think Congress Should Make Price Gouging Illegal

Most economists disagree with a new bill in the US that would set limits on "unconscionably excessive prices," according to a recent...

Neoliberal Economists Are Giving Biden Bad Advice on Inflation

To spare the economy from the pain of further interest rate hikes, the President should aggressively pursue anticompetitive conduct by companies in...

How Would the Big Tech Self-Preferencing Bill Affect Users? 

The Senate looks to be nearing a vote on the American Innovation and Choice Online Act, which would prohibit gatekeeping digital platforms...

New eBook Revisits George Stigler’s Theory of Regulatory Capture 50 Years Later

To mark the 50-year anniversary of George Stigler’s seminal piece, “The Theory of Economic Regulation” we are publishing a new eBook examining...

Firms Gerrymander Ownership of Polluting Plants to Reap Public and Regulatory Benefits

New research has discovered that many companies who appear to sell, or ‘divest,’ their toxic plants, actually retain relationships with their buyers....