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ESG, Corporate Governance & Future of the Firm

How Regulatory Shifts Have Reshaped ESG Voting Patterns

Kenneth Khoo
In 2021, a regulatory shift by the United States Securities and Exchange Commission expanded shareholder proposals on environment and social issues from mere company...
Antitrust and Competition

How To Enforce the Robinson-Patman Act Under a Raising Rivals’ Cost Approach

Steven Salop
Steven Salop explores the presumptions and evidence that could undergird Commissioner Melissa Holyoak’s preferred “Raising Rivals’ Cost” approach to the enforcement of the Robinson-Patman Act.
ESG, Corporate Governance & Future of the Firm

How Proxy Voting Policies Fail To Reflect Investor Ideologies

B. Pablo Montagnes
Large asset managers increasingly control voting rights on behalf of investors, raising questions about ideological alignment in corporate governance. Pablo Montagnes, Zac Peskowitz, and...
Antitrust and Competition

Creating a Robust Economy Requires a Corporate-Governance Policy Response

William Lazonick
William Lazonick writes that recent United States industrial policy initiatives miss the centrality of corporate resource allocation for creating a robust economy, characterized by...
Commentary

America’s Advantage in Clean Production Can Make Manufacturing Great Again

Karthik Ramanna
Karthik Ramanna writes that if the United States adopts a trade policy based on a dynamic emissions accounting method, it can achieve President Donald Trump’s goal of leveling the manufacturing playing field for American companies by penalizing foreign “dirty” producers, while also mitigating inflation and the risk of a trade war.
Antitrust and Competition

Rethinking Merger Analysis

Louis Kaplow
The following is an excerpt from Louis Kaplow’s new book,“Rethinking Merger Analysis,” now out at MIT Press.
Interviews

Nobel Laureate Eugene Fama Predicts Bitcoin Will Become Worthless

ProMarket writers
Nobel Prize-winning economist Eugene Fama argues that Bitcoin is fundamentally flawed and predicts it has a near-certain chance of becoming worthless within a decade....
Economic History

A Nobel Prize for Institutions

Nathan Nunn
The 2024 Nobel Memorial Prize in Economic Sciences was awarded to Daron Acemoglu, Simon Johnson, and James Robinson for “studies of how institutions are...
Antitrust and Competition

Expert Economist Testimonies Are Challenged More Often in Antitrust Cases

Edoardo Peruzzi
In a new working paper, Edoardo Peruzzi shows that under the Daubert standard for admissibility of expert witness, economists face more frequent challenges in antitrust litigation than in other legal domains, like patent or labor law. Additionally, plaintiffs’ experts are more likely to face a Daubert challenge than defendants’ experts.
International Economics

How Political Speech Restrictions Spill Over Into Financial Analysis

ProMarket writers
A new study by Utpal Bhattacharya, Tse-Chun Lin, and Janghoon Shon finds that Hong Kong's 2020 National Security Law led local financial analysts to...
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