Michela Giorcelli
Corporate Governance
How a Marshall Plan Program Boosted the Performance of Italian Firms for Decades
During the 1950s, as part of the Marshall Plan, the US subsidized loans to help European firms purchase technology and sponsored training trips for...
Latest news
Media
Bethany McLean’s Weekend Reading List: Wirecard, Covid-Overwhelmed Hospitals, and Plastic
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.
Friedman 50 Years Later
“50 Years Later, It’s Time to Reassess”: Raghuram Rajan on Milton Friedman and Maximizing Shareholder Value
The biggest problem with shareholder value maximization is that it completely turns a tin ear to politics. The alternative is to maximize...
Friedman 50 Years Later
It Is Time to Move on From Friedman’s View of the Corporation
The anti-CSR position defended by Friedman would be acceptable only under conditions that have never been met by any real-world economy. Furthermore,...
Friedman 50 Years Later
Corporations Are Already Plenty Powerful. Stakeholder Capitalism Could Make Them More So
Encouraging corporations to further step into the role of governments and civil society groups by becoming more "socially focused" risks greater depreciation...
Friedman 50 Years Later
The Real Effects of Environmental Activist Investing
A new study examines the efficacy of climate-focused investor engagements initiated by the New York City Pension System. Its findings support the...
Friedman 50 Years Later
For Whom Corporate Leaders Bargained: What the Past Can Teach Us About the Questionable Promise of Implementing Stakeholder Capitalism Today
The debate about stakeholder capitalism should seek to learn from our experience with constituency statutes, which authorized corporate leaders to take into...
Friedman 50 Years Later
The Enduring Wisdom of Milton Friedman
Shareholder value maximization has been extremely successful globally in the way that matters most because, in many cases, maximizing shareholder value is...
