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ESG, Corporate Governance & Future of the Firm

The system of formal and informal rules by which a company is governed. Corporate governance shapes more than just a given’s company value – it dictates who controls the capital in the economy and so how this capital is being put the use. Corporate governance therefore affects and is affected by the degree of cronyism and rent-seeking in society.

Antitrust and Competition

How Private Equity Companies Are Lobbying to Profit from The Covid-19 Economic Fallout

Matt Stoller
Private equity funds aren’t just seeking to save the investments they already have, but to get access to more capital to invest in a...
Antitrust and Competition

The Darkest Side of Monopsony: The South Korean Case

Sangin Park
"Chaebols”, large business groups controlled by founder families, are usually considered a crucial ingredient of South Korea's economic miracle. But after a process of...
Commentary

How to Interpret Financial Market Movements to Predict the Impact of Coronavirus on GDP

Ralph S.J. Koijen 
Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...
ESG, Corporate Governance & Future of the Firm

“Monetary Awards Are Not the Only Reason Why Whistleblowers Report Corporate Malpractice”

Stefano Feltri
At the SEC, Jordan Thomas had a leadership role in developing the program to protect and reward employees who report corporate wrongdoing. Now, he is...
Antitrust and Competition

Elon Musk Wants to Get Paid. He Will Get His 2019 Bonus Thanks to an Accounting Magic

Francine McKenna
In March 2018, Tesla’s Board of Directors granted Musk a potential bonus of 20,264,042 stock option awards under a  plan that uses “adjusted EBITDA” as one...
Antitrust and Competition

How US Regulators Allowed Google and Facebook to Become Dominant

Filippo Lancieri
The UK's Competition and Markets Authority recently criticized Google and Facebook's excessive market power. American regulators, on the other hand, have allowed them to consolidate...
Antitrust and Competition

How Regulators and PwC Fooled Reporters—Again

Francine McKenna
Is the PCAOB really investigating PricewaterhouseCoopers (PwC) for its role in the Mattel auditing mess? I may be wrong, but I seriously doubt it....
ESG, Corporate Governance & Future of the Firm

The SEC’s Shareholder Voting Reform Runs Counter to Attempts at Democratizing Corporate America

Ciara Torres-Spelliscy
The SEC should drop its proposed changes or modify them so that they are less onerous and less damaging to the rights of shareholders...
ESG, Corporate Governance & Future of the Firm

Over 60 Leading Finance Economists Ask SEC to Revise the Shareholder Voting Draft Reform

ProMarket writers
The new regulation that Security and Exchange Commissioners voted in November doesn't fix proxy advisory industry duopoly problems, but it actually makes them worse:...
ESG, Corporate Governance & Future of the Firm

New Rules on Shareholder Voting Debate: Best Readers' Comment

James McRitchie
The draft SEC regulation on shareholder proposal and proxy advisory firms will curb the initiative of individual shareholders to improve corporate governance and transparency...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.