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ESG, Corporate Governance & Future of the Firm

The system of formal and informal rules by which a company is governed. Corporate governance shapes more than just a given’s company value – it dictates who controls the capital in the economy and so how this capital is being put the use. Corporate governance therefore affects and is affected by the degree of cronyism and rent-seeking in society.

ESG, Corporate Governance & Future of the Firm

Why Are There So Few Bankers on American Corporate Boards?

Eric Hilt
Relatively few American companies have bankers on their boards. New research reveals that bankers were commonly represented on corporate boards in the 19th century,...
ESG, Corporate Governance & Future of the Firm

Corporate Auditing Is Broken. Here’s How to Fix It

Karthik Ramanna
The ostensive watchdogs of market disclosure have become poster boys for corporate chicanery, argues Karthik Ramanna of Oxford’s Blavatnik School.     Auditors are in the business of...
Commentary

The World Cup of Fraud

Steven A. Bank
Scandal-rocked FIFA has sought to scrub up its image by bringing in ostensibly disinterested outsiders to fill oversight roles. Here, Steven A. Bank argues...
ESG, Corporate Governance & Future of the Firm

Depositors Disciplining Banks: The Impact of Scandals

Mikael Homanen
Can depositor activism make a real difference? New research set to be presented at the upcoming Stigler Center Political Economy of Finance conference examines the Dakota...
ESG, Corporate Governance & Future of the Firm

Do Firms Use Capital and Labor Efficiently? Evidence and Implications of Resource Misallocation

Simone Lenzu
Economists have for a decade or so theorized that moving productive inputs like labor and capital into the firms that make the best use...
ESG, Corporate Governance & Future of the Firm

Investing in Quality Early Childcare Is Good for Vulnerable Kids—and Good Economics, Too


Rafael Lalive
Early childcare can be a major contributor to eliminating inequality of opportunity and even lay the foundations for a more productive workforce in the...
ESG, Corporate Governance & Future of the Firm

The Motives of “Joiners” Explain Higher Rates of Innovation in Startup Firms

Henry Sauermann
It’s not just the founders of startups who boast an entrepreneurial spirit and a willingness to take risks. Those who join new ventures show...
ESG, Corporate Governance & Future of the Firm

The Culture of Overconfidence: Why Leaders Stick to Pet Projects That Aren’t Working

V. Bhaskar
What are the rational incentives for executives or politicians to push ahead with failing or inefficient initiatives? For answers, authors Bhaskar and Thomas look...
ESG, Corporate Governance & Future of the Firm

Do We Need to Mandate Firms’ Reporting And Auditing?

Matthias Breuer
Back in the 1960s, George Stigler called into question whether states should require firms to publicly report their financials. A recent Stigler Center working...
ESG, Corporate Governance & Future of the Firm

Are Innovators Born or Made?

Elizabeth Lyons
The question of whether people are born with innovative talent or can develop it has knock-on effects to issues ranging from productivity growth in...
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