ESG & Corporate Governance

History Shows that Voluntary ESG Standards Lead to a More Focused ESG Disclosure

In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...

Investing in Influence: Investors, Portfolio Firms, and Political Giving

A new paper examines the relationship between the rising concentration in institutional investors' ownership of publicly traded U.S. firms and portfolio companies'...

Twitter’s Corporate Leaders Pushed their Stakeholders under the (Musk) Bus

In a new study, we examine whether, in negotiating the sale to Elon Musk, Twitter’s corporate leaders took into account the commitments...

Shareholder Democracy Doesn’t Work. Here’s How It Can.

An opinion piece by Oliver Hart and Luigi Zingales describes how a new voting mechanism could help individual investors persuade companies to...

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?  

In 2019, more than 100 CEOs of US public companies signed a Business Roundtable statement in which they pledged to deliver value...

Will “Portfolio Primacy” Throw a Monkey Wrench in Elon Musk’s Plans to Acquire Twitter?

The SEC's definition of fiduciary duty allows institutional shareholders to vote against Elon Musk's Twitter takeover bid thanks to portfolio primacy.

How Enlightened is Enlightened Shareholder Value?

There has been growing support for replacing the traditional corporate purpose with so-called “enlightened shareholder value,” which would guide firms to consider...

Are “Bankruptcy Directors” Bad for Creditors?

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

Should ESG-Driven Investors and Stakeholders Divest or Engage? A Stigler Center/Rustandy Center Panel Explores

Should investors and stakeholders who wish to influence companies to promote desirable social and environmental outcomes focus on actions like divestment and...

Max Oversight Duties: How the Boeing Case Signifies a Shift in Corporate Law

Why did regulation, corporate governance, and fear of repetitional harm fail to prevent the Boeing 737 Max debacle from happening? A new...

Latest news

Mobile Internet Is Changing Employment in Developing Countries, but Not Always as Expected

Scholars and policymakers have put much faith into the prospect of internet connectivity catalyzing development in low- and middle-income countries. In new...

Biden’s Second-Best Economic Agenda

Efficiency is out and political economy is in. But what does that imply about making good policy?

The Fed and Bank Failures

Viral Acharya and Raghuram Rajan explain how quantitative easing contributed to the problems underlying the recent bank failures such as that of...

Self-Preferencing Theories Need To Account for Exploitative Abuse

Patrice Bougette, Oliver Budzinski, and Frédéric Marty argue in their research that antitrust authorities on both sides of the Atlantic must take...

Startup Acquisitions Have Undecided Effects on Innovation and Economic Growth

Startups are a major driver of innovation, but many startups are acquired by large incumbents. Do these acquisitions stifle innovation or promote...

History Shows that Voluntary ESG Standards Lead to a More Focused ESG Disclosure

In recent years, ESG reports have become more common for publicly traded companies. However, critics have found the information they provide to...

Letters that Matter: How Interest Groups Shape Financial Legislation

Members of Congress are inundated with an avalanche of correspondence on a daily basis. But what persuades them to heed the call?...