Corporate Governance

Max Oversight Duties: How the Boeing Case Signifies a Shift in Corporate Law

Why did regulation, corporate governance, and fear of repetitional harm fail to prevent the Boeing 737 Max debacle from happening? A new paper explores...

How the Covid-19 Pandemic Put Corporate Stakeholder Promises to the Test

Prior to the outbreak of Covid-19, corporate leaders pledged to look after all stakeholders, not just deliver value to shareholders. Did they live up...

Elizabeth Holmes Is the Exception: More Women on Boards Lead to Less Corporate Wrongdoing

The so-called “opportunity theory” suggests that women are statistically underrepresented in white-collar offenses because they are underrepresented in higher corporate echelons. A forthcoming paper...

How Much Can We Trust Index Funds on Climate Change?

According to a theory that is gaining support among academics and practitioners, we should expect index fund managers to undertake the role of “climate...

This Proposal Could Inadvertently Improve Corporate Accounting

A provision within the Biden administration’s Build Back Better bill that assesses a minimum tax on certain companies based on their income reported to...

Addressing Climate Change Must Begin with Verifiable Carbon Accounting

Robert Kaplan and Karthik Ramanna propose a new approach for verifiable accounting on indirect corporate emissions that would apply to all corporations, increase incentives...

The Social Responsibility of Business Includes Profits

Profits these days are often seen as a dirty word, but it is wrong to demonize profits. A company’s responsibility is not to sacrifice...

Managers Should Satisfy Only the Ethically Permissible Preferences of Shareholders

Oliver Hart and Luigi Zingales have proposed a revision to the dominant model of the objective of the firm, most famously defended by Milton...

Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism

In 2010, as the world was reeling from the global financial crisis, the body that determines generally accepted accounting principles for listed corporations in...

Two Years After the Business Roundtable Statement: Pointing in the Right Direction

The 2019 Business Roundtable statement was a welcome break from the position that the nation’s top corporate CEOs took in 1997, when the BRT pledged...

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