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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.

ESG, Corporate Governance & Future of the Firm

Does Finance Make Us Less Religious?

Mitch Warachka
Do religious congregations provide informal insurance against the risk of income loss for their congregants? A new paper examines the impact of an expansion...
ESG, Corporate Governance & Future of the Firm

How a Marshall Plan Program Boosted the Performance of Italian Firms for Decades

Michela Giorcelli
During the 1950s, as part of the Marshall Plan, the US subsidized loans to help European firms purchase technology and sponsored training trips for...
ESG, Corporate Governance & Future of the Firm

Credit Ratings: What Are They Good For?

Bo Becker
The financial crisis of 2008–10 revealed that ratings are imperfect and potentially biased measures of credit risk. Analyzing a large number of mutual fund...
ESG, Corporate Governance & Future of the Firm

How the Market Can Help Break the Glass Ceiling for Women in Management

Lars Persson
A new CEPR working paper investigates how product market competition and gender-specific management career hurdles affect the gender wage gap for managers. The findings...
ESG, Corporate Governance & Future of the Firm

Why Are There So Few Bankers on American Corporate Boards?

Eric Hilt
Relatively few American companies have bankers on their boards. New research reveals that bankers were commonly represented on corporate boards in the 19th century,...
ESG, Corporate Governance & Future of the Firm

Corporate Auditing Is Broken. Here’s How to Fix It

Karthik Ramanna
The ostensive watchdogs of market disclosure have become poster boys for corporate chicanery, argues Karthik Ramanna of Oxford’s Blavatnik School.     Auditors are in the business of...
Commentary

The World Cup of Fraud

Steven A. Bank
Scandal-rocked FIFA has sought to scrub up its image by bringing in ostensibly disinterested outsiders to fill oversight roles. Here, Steven A. Bank argues...
ESG, Corporate Governance & Future of the Firm

Depositors Disciplining Banks: The Impact of Scandals

Mikael Homanen
Can depositor activism make a real difference? New research set to be presented at the upcoming Stigler Center Political Economy of Finance conference examines the Dakota...
ESG, Corporate Governance & Future of the Firm

Do Firms Use Capital and Labor Efficiently? Evidence and Implications of Resource Misallocation

Simone Lenzu
Economists have for a decade or so theorized that moving productive inputs like labor and capital into the firms that make the best use...
ESG, Corporate Governance & Future of the Firm

Investing in Quality Early Childcare Is Good for Vulnerable Kids—and Good Economics, Too


Rafael Lalive
Early childcare can be a major contributor to eliminating inequality of opportunity and even lay the foundations for a more productive workforce in the...
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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.