Corporate Culture
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 characteristics, compensation...
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 the European...
Serving Shareholders Doesn’t Mean Putting Profit Above All Else
The time has come for companies, economists, and society to abandon the argument that the only responsibility of business is to maximize profits.
Editor’s note:...
Elon Musk Wants to Get Paid. He Will Get His 2019 Bonus Thanks to an Accounting Magic
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...
The Uber Bubble: Why Is a Company That Lost $20 Billion Claimed to Be Successful?
In the first of three interrelated articles, transportation consultant Hubert Horan discusses Uber's "uncompetitive economics." There is no real innovation in the company's business...
The SEC's Proposal on Proxy Advisor Regulation Shields CEOs From Accountability to Investors
SEC Commissioner Robert Jackson dissented from his SEC colleagues' proposal on how to reform proxy advisors regulation. New rules, he argues, would introduce a...
New Empirical Studies Show: When It Comes to Productivity, Management Matters
Research has shown that studying the causes and implications of management across organizations can be of much benefit to economics.
It is well documented((This piece...
Making Your Vote Count: Does the Voting Behavior of Asset Managers Truly Reflect Their Clients’ Interests?
In the past five years, thanks to growing public pressure, there has been increased attention on the voting behavior of asset managers. As a...
Is Lionizing CEOs Dangerous for Society?
In an interview with ProMarket, Open University's Peter Bloom talks about his provocative new book CEO Society and why he believes celebrating corporate CEOs...
Do We Need to Mandate Firms’ Reporting And Auditing?
Back in the 1960s, George Stigler called into question whether states should require firms to publicly report their financials. A recent Stigler Center working...
