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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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Latest news

Antitrust and Competition

New Study Warns Antitrust Inaction May Lead To Acceptable Collusion for Public Policy Considerations

Or Brook
The modernization of EU antitrust laws muddied the water with regard to the ways that antitrust authorities and courts should handle situations...
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Antitrust and Competition

Dark Money Dominates Spending by Special Interest Groups and Sways Elections

Matthew Denes, Madeline Marco Scanlon, Florian Schulz
New research on undisclosed and unlimited political contributions, or dark money, exposes the increasing role that such funds play in U.S. elections.
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Antitrust and Competition

The “Conspiracy” of Consumer Welfare Theory

Darren Bush, Mark Glick
Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.
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Antitrust and Competition

Researchers Find Reduced Competition After Pandemic

Brooke Fox
The chart of the week comes from a new research paper that documents the increase in small business closures during the Covid...
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News

Voters Still Believe Politics is About the Common Good, Not Just Rent-Seeking

Chad Kendall, John G. Matsusaka
Do voters still believe that politics can be a source for common-good policies and not just partisan bickering and rent-seeking? With political...
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Antitrust and Competition

How to Design Data Protection Laws That Actually Work 

Filippo Lancieri
More and more countries are passing data protection laws, yet empirical studies show that these laws rarely deliver on their promises. A...
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Antitrust and Competition

Are Monopolists or Cartels the True Source of Anticompetitive US Political Power?

Herbert Hovenkamp
Trade associations are often the biggest obstacles to competitive markets, especially when those organizations use their influence to change public policy in...
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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.

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