New Stigler Center working paper: “To the extent that legislators represent majority opinion, it happens largely because legislators share the opinions of their constituents, not because legislators seek to reflect constituent opinion.”
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Blockchains and Corporate Finance: “In a Blockchain Market, Shareholder Activists Might Play Much Less of a Role”
Will blockchain technology lead to less shareholder activism and higher executive compensation? Watch David Yermack’s full Stigler Center lecture on the potential implications of blockchain technology for the future of corporate governance. Second part of a three-part series.
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Does Empowering Shareholders Also Empower Special Interests?
The merits of increasing shareholder power are less obvious than reforms that increase companies’ exposure to pressure from activist shareholders, since increasing shareholder power tends to increase the influence of special interests. Part 2 of a two-part series.
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“I Expect That Within the Next 10 Years, Probably Half of the Banks Will be Gone”
Watch David Yermack’s full Stigler Center lecture on the potential implications of blockchain technology for the future of finance. First part of a three-part series.
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Amazon at $1,000 – Should We Be Celebrating?
Amazon, whose stock price crossed $1,000 per share last week, illustrates the shortcomings of our current antitrust regime.
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Enhancing Competition? The Role of Governance in Increasing Exposure to Competition
Contemporary corporate governance reform has been a mixed bag: reforms that increase a company’s exposure to competition through the control market have been helpful, while reforms that empower special interest shareholders are a cause for concern. First part of a two-part series.
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“The Financialization of the U.S. Economy Has Produced Mechanisms That Lead Toward Concentration”
In this installment of ProMarket’s interview series on concentration in America, Gerald Berk from the University of Oregon discusses the political implications of concentration.
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Will PwC Throw the Red Card on its Swiss Firm Over FIFA?
PwC took over as auditor of the corruption-plagued global football body last year, with the intention of reforming it. So how is it that PwC is now accused of allegedly covering up a misappropriation of funds by FIFA’s new secretary general?
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“Business Journalism Fails Spectacularly in Holding the Powerful to Account”
Can the media hold powerful corporate actors to account in an age of rising concentration? A Stigler Center panel offers opposing views.
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“Markets Today Are Radically Different Than What We Believe – We Have the Façade of Competition”
A Stigler Center panel explores the implications of big data for competition policy and for consumer welfare.
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Is Direct Democracy Better Able to Withstand the Influence of Special Interests?
A new Stigler Center working paper looks into the effects of referendums and public initiatives on public policy and finds that direct democracy better represents the will of the majority, and therefore might also be better able to counteract the power of special interests over policymaking.
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Does Whistleblowing Work?
Whistleblower reward laws work, and they work remarkably well. Congress, the executive branch of government, and the business community should enact, support, and nurture strong whistleblower reward programs.
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