In improving the current shareholder proposal process, legislators should trade the butcher knife for the scalpel.
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In improving the current shareholder proposal process, legislators should trade the butcher knife for the scalpel.
Read moreMoving from shareholder value maximization to shareholder welfare maximization may be a small step in theory, but it could trigger a leap forward in the way our corporations are run.
Read moreA new paper by Oliver Hart and Luigi Zingales argues that a company’s objective should be the maximization of shareholders’ welfare, not value.
Read moreIn a special interview with ProMarket, former New York governor Eliot Spitzer talks about financial regulation, regulatory capture, and antitrust. Part 1 of 2.
Read moreNeoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is true only in competitive product markets. When firms have market power, they will seek and obtain political influence and vice versa.
Read moreWill 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.
Read moreContemporary 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.
Read moreWhistleblower 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.
Read moreA look at the Big Four’s congressional lobbying activity shows the auditors and their trade association taking advantage of the “Trump” window to roll back the 2002 reforms that changed their business.
Read moreA new Stigler Center working paper finds that managers who resist shareholder proposals are typically acting responsibly, as opposed to acting on their own self-interest.
Read moreA new study reveals both the potential biases in the proxy advisory industry and how a new entrant can help mitigate conflicts of interest.
Read moreIn the final installment of ProMarket’s interview series on the economic theory of the firm, we ask Princeton University professor Alan Blinder and University of Mannheim President Ernst-Ludwig von Thadden about the role of corporations and governments in the market.
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