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Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

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

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

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

Mergers and Smoking Guns

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

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

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

How Europe Can Enforce the Digital Markets Act Effectively 

Alexandre de Streel, Fiona Scott Morton, Jacques Crémer, Amelia Fletcher, Paul Heidhues, Giorgio Monti, Rupprecht Podszun, Monika Schnitzer
As the European Commission gets ready to embark on the complicated task of implementing the recently agreed-upon Digital Market Act, which would...
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Corporate Governance

How Enlightened is Enlightened Shareholder Value?

Lucian Bebchuk, Kobi Kastiel, Roberto Tallarita
There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider...
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Antitrust and Competition

The Passive Mechanisms of Common Ownership

Anna Tzanaki
A new paper explores the conundrum that common ownership poses for antitrust enforcers and competition and corporate scholars and sheds light on...
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News

Chart of the Week: Income Inequality Threatens Capitalism

Brooke Fox
A new survey of economists by the Initiative on Global Markets indicates that 67 percent agree or strongly agree that the rise...
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Commentary

Nobel Laureate Oliver Hart on Empowering Twitter’s Shareholders

Brooke Fox
In an interview with ProMarket, Nobel laureate Oliver Hart explains why broadening our perspective on fiduciary duty beyond maximizing shareholder wealth could...
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Economic History Series

Corporate Sovereigns and the Emergence of State Sovereignty: A Closer Look at the East India Company

Swati Srivastava
A new data collection has made it possible to reveal the self-sovereignty of the English East India Trading Company that produced a...
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Antitrust and Competition

Antitrust and Rule by Judges

Paul Tucker
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...
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Antitrust and Competition

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

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

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

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

Neoliberal Economists Are Giving Biden Bad Advice on Inflation

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

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

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

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

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

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

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