Corporate Governance
Enhancing Competition? The Role of Governance in Increasing Exposure to Competition
Contemporary corporate governance reform has been a mixed bag: reforms that increase a company’s exposure to competition through the control market have been helpful,...
Does Whistleblowing Work?
Whistleblower reward laws work, and they work remarkably well. Congress, the executive branch of government, and the business community should enact, support, and nurture strong...
How the Global Audit Firms, Led by Deloitte, Are Using Their Lobbying Clout to Dilute Sarbanes-Oxley Reforms
A look at the Big Four’s congressional lobbying activity shows the auditors and their trade association taking advantage of the “Trump” window to roll...
Are Managers Who Oppose Shareholder Proposals Acting in the Best Interest of Shareholders?
A new Stigler Center working paper finds that managers who resist shareholder proposals are typically acting responsibly, as opposed to acting on their own...
The Powerful Private Regulator and the Effects of Conflicts of Interest
A new study reveals both the potential biases in the proxy advisory industry and how a new entrant can help mitigate conflicts of interest.
The...
Wells Fargo and the Failure of Boards and Regulators
Two new reports concerning the Wells Fargo scandal suggest that the bank's senior management, its board of directors, and the regulators all knew about the bank's...
"Current Populist Discontent Seems Mainly Driven by a Fear of Change and Uncertainty"
In the final installment of ProMarket’s interview series on the economic theory of the firm, we ask Princeton University professor Alan Blinder and University of...
Experts: Financial Rewards and Protections Are the Best Way to Incentivize Whistleblowers
Stephen Kohn, executive director of the National Whistleblower Center: “If your white-collar crime detection program is based on nice people having high moral values,...
Study: Women in Finance Are Punished More Severely – Especially When Their Boss Is a Man
A new Stigler Center paper shows the extent of sexism in the financial industry: although male financial advisers are three times as likely to engage in misconduct...
PwC and the Oscars: When Auditors Take Investors to La La Land
PwC suffered an enormous blow to its reputation following the Oscars because the ceremony is highly visible and the failure was simple to understand. But the accounting giant has experienced many blunders in the last...
