A recent working paper suggests that firms react to political risk, both passively by cutting investment and employment, and actively by ramping up lobbying efforts.
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Roy Shapira
Roy Shapira is a legal scholar who focuses on reputation, regulation, and corporate governance. Shapira received his LLM and SJD degrees from Harvard Law School, where both his Master and doctoral degrees won the Victor Brudney Prize for best paper on corporate governance. He is currently working on the Stigler Center’s case studies series and on projects that merge the literatures of regulatory capture and corporate governance. Shapira is also under contract with Cambridge University Press to publish a book on the interactions between law and reputation.
Articles by Roy Shapira:
Attorneys General for Sale? We Should Focus on the Practice, Not Just on Trump’s Role
Trump is not the only, nor the biggest, player in the game of influencing attorneys general. Singling him out for opprobrium is aiming at the tip rather than the iceberg.
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Regulators as Validators
Special interest groups can use their influence over regulation to water down not just potential legal sanctions but also potential reputational sanctions.
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Making it Look Like a Struggle
For capture to be sustainable, the regulator has to find ways to be perceived as being tough on the regulated without really hurting them.
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Who Killed Corporate Reputation?
Regulation and reputation are not independent of each other. Regulation can substitute, crowd out, or even implement the power of reputational concerns. A better understanding of the fuzzy interactions between regulation and reputation is needed before jumping into policy implications
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Do Courts Have a Pro-Business Bias?
Existing evidence are not enough to determine whether courts are pro-market or pro-(incumbent)business.
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Corporate Governance Externalities: How Directors’ Reputational Concerns Shape Governance of Other Firms
A new paper by Wharton’s Doron Levit and Carroll’s Nadya Malenko fleshes out the role that reputation plays in shaping the structure and effectiveness of corporate boards.
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