Research

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 and produces...

Chart of the week: US Economists on a Total Russian Oil Ban

US economists surveyed by Chicago Booth's Initiative on Global Markets shows that most agree that a total ban on Russian oil imports would carry...

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 live up...

Chart of the Week: Minority Underrepresentation in Local US Politics

ProMarket's first-ever Chart of the Week comes from a new paper that studies the underrepresentation gap of ethnic minorities in local US politics. In a...

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 forthcoming paper...

Global vs. Local: What Drives Changes in Labor’s Share of Income

A new working paper examines the relationship between competition policy and the decline in the labor share across the developed world and finds that...

When Milton Friedman Sided With Keynes Over Hayek on Inflation

In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and Hayek over...

How Much Can We Trust Index Funds on Climate Change?

According to a theory that is gaining support among academics and practitioners, we should expect index fund managers to undertake the role of “climate...

Antitrust Should Be Used as a Targeted Response to Employer Concentration, But It Can’t Do Everything

A large and growing body of research demonstrates that employer concentration affects the wages of many American workers. Antitrust is an important tool in...

Who Bears the Cost of Administrative Problems in Health Care?

A new paper explores the resources consumed by the complicated billing process in health care and the process’ impact on patients’ access to care. Health...

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