Corporate Governance

Millennials and Gen Z Are Willing to Accept Lower Wages to Work in More Sustainable Firms

Firms in more environmentally friendly sectors are better able to attract and retain talent and at lower wages. Millennials and Gen Z,...

What Happens When Multinationals Appear in Reporting on Activist Assassinations? High-Profile Media Has Bite

A new report finds that being linked to human rights abuses—merely appearing in reporting around high-profile events—can significantly influence a company’s stock...

Is There Really a Conflict Between Better Corporate Governance and More Competitive Product Markets?

A new study shows that the supposed tradeoff between better corporate governance and more competitive product markets may not exist. More commonly-owned...

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

Corporate Responsibility and The Two Minds of Milton Friedman

Milton Friedman had two inconsistent minds: That of an economist and an ideologue. The view that maximizing profits without constraint is a...

We Need More Research on Corporate Corruption

The last decade has seen a continuous drumbeat of revelations of corporate corruption and the current economic crisis is sure to reveal...

The Social Voice of CEOs

A new working paper examines the phenomenon of CEO activism and finds that while statements by activist CEOs are more likely to...

The Purpose of Business is to Solve Problems of Society, Not to Cause Them

Claims that a stakeholder-focused system of corporate governance cannot succeed in the US are perverse because they take as given that corporations...

Bringing Ethics Back to Friedman’s Call to Purpose for the Next 50 Years

Fifty years ago, Friedman compellingly presented his argument for shareholder primacy. But as currently implemented, shareholder primacy threatens the unifying purposes that...

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.

LATEST NEWS

George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...