If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.
Editor’s note: To...
Milton Friedman’s shareholder credo is simple and catchy but has shaky foundations. Corporate directors and officers are not agents of shareholders and have no...
Tommaso Valletti, the former Chief Competition Economist of the European Commission, reflects on the intersection of academic economics and policymaking and offers advice to...