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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

Interview Series: How Incomplete is the Theory of the Firm? Q&A with Daniel Carpenter

ProMarket writers
Should the economic theory of the firm be modified? If so, how? In March, the Stigler Center at the University of Chicago Booth School...
ESG, Corporate Governance & Future of the Firm

Stigler Center Event: David Yermack on Blockchains and the Future of Finance

ProMarket writers
Yermack, the Albert Fingerhut Professor of Finance and Business Transformation at New York University Stern School of Business, will teach a mini-course of three...
ESG, Corporate Governance & Future of the Firm

Incomplete Contracts and the U.S. Economy: Q&A with Nobel Laureate Oliver Hart

Guy Rolnik
Oliver Hart, the recipient of this year’s Nobel Prize in economics, sits down for a special interview with ProMarket in which he discusses his...
ESG, Corporate Governance & Future of the Firm

Why Have Soda Companies Funded Nearly 100 Health Organizations in the Last Five Years? Q&A With Michael Siegel

Asher Schechter
According to a new study, the world’s largest soda companies have sponsored 96 national health organizations during the last five years.  Last June, Philadelphia became...
ESG, Corporate Governance & Future of the Firm

The Non-Performing Assets of Wells Fargo

Luigi Zingales
The entire board of Wells Fargo, not just the CEO, needs to be replaced. In 1992, shareholder activist Bob Monks purchased a full-page ad in...
ESG, Corporate Governance & Future of the Firm

What Differentiates White-Collar Criminals From Other Executives? A Q&A With Eugene Soltes

Guy Rolnik
Video: Harvard Business School professor Eugene Soltes discusses his new book and explains why he considers white-collar crime to be a failure of intuition, not reasoning. What drives...
ESG, Corporate Governance & Future of the Firm

The Power of Convictions

Luigi Zingales
Oliver Hart and Bengt Holmstrom, winners of this year's Nobel Prize in Economics, created a new area of economic inquiry. They also had a profound...
ESG, Corporate Governance & Future of the Firm

Corporate Culture in Investment Banking: An Inside Look

ProMarket writers
A former investment banker examines the culture that incentivizes people in the industry to put their interests before their clients’. Part three in a...
ESG, Corporate Governance & Future of the Firm

How Rich are the Parents of Your Money Manager, and What Does it Tell You About his Alpha?

Guy Rolnik
In the last few decades, numerous studies in financial literature have been devoted to the question of “alpha”—that is, the ability of money managers...
ESG, Corporate Governance & Future of the Firm

Why Firms’ Shareholders Condone Seemingly “Excessive” Executive Pay Packages, and What it Means For the Economy

Martin Schmalz
If the large mutual funds are out to improve governance, why do they condone, if not encourage, seemingly excessive and performance-insensitive compensation packages? A new...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.