Corporate Governance
The Counterfeit Capitalism of WeWork: Predatory Pricing as a Business Model
The company failed to go public and its founder, Adam Neumann, had to step down. This is good news: ordinary investors refused to put...
The Problem With Unicorns: Why Investors Stopped WeWork From Going Public
More and more startups are valued at over $1 billion, even if they have dysfunctional corporate structures and hazardous business models. For tech companies,...
The Business Roundtable CEOs’ Statement: Same Old, Same Old
Despite the media hype about corporate CEOs having abandoned their shareholder value maximization credo, the recent statement from the Business Roundtable contains nothing new...
Towards the Giant Three: The Rise and Rise of the Big Three Index Funds
The Big Three index fund managers—BlackRock, Vanguard, and State Street Global Advisors—hold a significant proportion of the stock of US public companies, and they...
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...
“Short Sellers Don't Exist to Fix the Problems. They Exist to Shed Light on the Problems”
In an interview with ProMarket, Fahmi Quadir, the short seller whose bet against Valeant in 2015 helped expose the company's misdeeds, talks about short...
Is Market Price Relevant for Minority Shareholder Appraisal Actions?
Vice Chancellor Travis Laster of Delaware Chancery Court has recently cautioned that while courts have given greater deference to market price in appraising fair...
Does Uber Kill? The Real Cost of Ride-sharing
A new Stigler Center working paper finds that ride-sharing actually increases the number of new car registrations and fatal accidents.
Two years ago, the Stigler...
Does Finance Make Us Less Religious?
Do religious congregations provide informal insurance against the risk of income loss for their congregants? A new paper examines the impact of an expansion...
