Corporate Governance
Two Years Later, Has the Business Roundtable Statement Transformed Capitalism?
Two years after the Business Roundtable redefined its statement of Purpose of a Corporation to include “a fundamental commitment to all of our stakeholders”...
Why Corporate Purpose is Important to the Recovery From the Pandemic
A new initiative seeks to encourage directors, managers, asset owners, and other internal and external stakeholders to collaborate on articulating an actional principle of...
No More “Mystery Meat”: Why We Need Better Corporate Governance Data
Three decades of finance, economics, and legal studies in corporate governance have been built substantially on data sets with nearly unknown provenance. A new...
George Stigler and the Challenge of Democracy
We are all victims of what George Stigler described as “the pervasive use of state support of special groups” and of governance failures everywhere....
How a Wave of Corporate Takeovers Ushered In the Gospel of Shareholder Value
In an excerpt from his new book, Ages of American Capitalism, economic historian Jonathan Levy explains how "financiers blew up the postwar industrial corporation...
What Stakeholder Capitalism Can Learn From Jensen and Meckling
Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be designed to...
Public’s Perception of Large Corporations Has Direct Impact on the Public Support of Corporate Bailouts
A new Stigler Center working paper finds that the likelihood of someone signing an online petition or contacting their US senators to support corporate...
Holding Corporations and Executives Accountable Depends on Our Legal System
How can the law prevent and deter corporate wrongdoing? The answer might lie in identifying what factors are associated with greater wrongdoing and how...
My American Board: On Ken Dayton and Good Governance
In the second chapter of his book On Board, John Tusa describes his experience on the board of American Public Radio, which he joined...
Do Employees Benefit From Worker Representation on Corporate Boards?
Mandated legislation of worker representation is unlikely to be the magic bullet some policy-makers have pictured. A new paper finds workers may benefit from...
