Corporate Governance

Millennials and Gen Z Are Willing to Accept Lower Wages to Work in More Sustainable Firms

Firms in more environmentally friendly sectors are better able to attract and retain talent and at lower wages. Millennials and Gen Z,...

How Corporate Purpose Affects Firms

A company’s purpose is a core aspect of the organization: it influences the financial performance of company, and relates to its ownership...

Is There Really a Conflict Between Better Corporate Governance and More Competitive Product Markets?

A new study shows that the supposed tradeoff between better corporate governance and more competitive product markets may not exist. More commonly-owned...

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

Corporate Responsibility and The Two Minds of Milton Friedman

Milton Friedman had two inconsistent minds: That of an economist and an ideologue. The view that maximizing profits without constraint is a...

Wirecard Scandal: When All Lines of Defense Against Corporate Fraud Fail

Scandals such as Wirecard can destroy investor trust in capital markets working fairly and with integrity. A new policy brief commissioned by...

We Need More Research on Corporate Corruption

The last decade has seen a continuous drumbeat of revelations of corporate corruption and the current economic crisis is sure to reveal...

The Social Voice of CEOs

A new working paper examines the phenomenon of CEO activism and finds that while statements by activist CEOs are more likely to...

Does a CEO Have a Duty to Lobby?

We need not only more disclosure, but also more work in alerting people in general (and students in particular) about the distortive effects of...

Should Whistleblower Reward Laws be Capped?

The SEC is expected to approve a proposed rule change that could limit the amount of awards paid to whistleblowers, despite evidence...

Latest news

George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...

Who Benefits From Competitive State-Level Legislatures?

A new paper finds that when interparty competition in state legislatures is high, well-connected and influential incumbent firms are best able to...

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....