Corporate Governance

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...

How the Market Can Help Break the Glass Ceiling for Women in Management

A new CEPR working paper investigates how product market competition and gender-specific management career hurdles affect the gender wage gap for managers. The findings...

LATEST NEWS

Prison Labor Can Create Perverse Incentives for Incarceration and Reduce Trust in Legal Institutions

Government proponents of prison labor should be mindful of the potential for negative effects, including increased incarceration rates and citizens’ deteriorating views...

Bethany McLean’s Weekend Reading List: Robinhood, Quibi, and Corporate America’s Addiction to Debt

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

How Germany Managed to Outlaw Facebook’s Core Business Model

In a surprise ruling last month, the German Federal Court of Justice determined that Facebook must comply with an earlier decision by...

Tailoring Lockdowns for Developing Countries

The Covid-19 pandemic has decimated livelihoods in developing nations, and coronavirus-related deaths are rising in Africa and South Asia at an alarming...

Why Most Advertisers Can’t Afford to Boycott Facebook

While big brands can afford to pause their addiction to Facebook, most advertisers cannot participate, as they have become so dependent on...