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RESEARCH

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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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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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

New Data Shows the Rise of Corporate Concentration in the US in the Past 100 Years

Yueran Ma
New research observing 100 years of concentration in economic activities and investment in research and development shows that the dominance of large...
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Corporate Governance

Are “Bankruptcy Directors” Bad for Creditors?

Jared Ellias, Ehud Kamar, Kobi Kastiel
A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join...
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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.
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Antitrust and Competition

The Economic Costs of Common Ownership

Florian Ederer, Bruno Pellegrino
A new empirical study attempts to estimate the economy-wide welfare costs of common ownership. The authors find that they are large and...
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Corporate Governance

The Flaws and Limits of ESG-Based Compensation

Lucian Bebchuk, Roberto Tallarita
Companies increasingly use ESG metrics in their compensation packages for CEOs. A new empirical study suggests that this practice has questionable promise...
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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...
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Coronavirus

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

Lucian Bebchuk, Kobi Kastiel, Roberto Tallarita
Prior to the outbreak of Covid-19, corporate leaders pledged to look after all stakeholders, not just deliver value to shareholders. Did they...
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News

Delaware: The State Where Companies Can Vote

Hal Weitzman
Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...
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Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos
Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...
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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...
Read more
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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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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