Jensen and Meckling

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...

A Famed Economist’s Public Company U-Turn

Michael Jensen, a leading late 20th century economist, pivoted from praising public companies in the 1970s to assailing public company governance in...

The Most Famous Article on the Theory of the Firm is Widely Misunderstood

Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded...

LATEST NEWS

Antitrust and Competition

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Einer Elhauge

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

News

Delaware: The State Where Companies Can Vote

Hal Weitzman

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us...

Antitrust and Competition

The NCAA Goes After College Athletes’ NIL Money—Here are the Antitrust Implications for Workers and Consumers

Ted Tatos

Having lost in the Supreme Court on student-athlete academic benefits, the NCAA has signaled a continuing attempt to suppress competition in the...

Corporate Governance

Have Business Roundtable Companies Lived Up to Their Stakeholder Commitments?

Lucian Bebchuk, Roberto Tallarita

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

Inequality

Do Protests Matter At All for Shifting Government Policy Around Economic Redistribution?

Belinda Archibong

New research on the effectiveness of protests on government distributions provides insights into the political incentives of a country’s leadership and the...