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Research

ESG, Corporate Governance & Future of the Firm

Are “Bankruptcy Directors” Bad for Creditors?

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

Chart of the Week: Two-thirds of Germans Support Russian Energy Embargo

Brooke Fox
A new survey of German citizens reveals the steps they'd support to help Ukrainians and punish Russia. According to a new survey of 2,000 Germans...
Antitrust and Competition

The Economic Costs of Common Ownership

Florian Ederer
A new empirical study attempts to estimate the economy-wide welfare costs of common ownership. The authors find that they are large and have risen...
ESG, Corporate Governance & Future of the Firm

The Flaws and Limits of ESG-Based Compensation

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

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

Brooke Fox
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...
Covid-19

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

Lucian Bebchuk
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...
Income Inequality

Chart of the Week: Minority Underrepresentation in Local US Politics

ProMarket writers
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...
ESG, Corporate Governance & Future of the Firm

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

Ido Baum
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...
Antitrust and Competition

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

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

When Milton Friedman Sided With Keynes Over Hayek on Inflation

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