research

A Small Step for Theory, a Leap Forward in Corporate Governance

Moving from shareholder value maximization to shareholder welfare maximization may be a small step in theory, but it could trigger a leap forward in...

How Market Power Leads to Corporate Political Influence

Neoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is...

Is Direct Democracy Better Able to Withstand the Influence of Special Interests?

A new Stigler Center working paper looks into the effects of referendums and public initiatives on public policy and finds that direct democracy better...

"The Connection Between Finance and Politics Has Been Under-Researched for Years"

Ahead of the Stigler Center's conference on the political economy of finance, we interviewed Stigler Center Director Luigi Zingales about the motivation behind the first-of-its-kind...

Finance and Healthcare Bound to Gain from Clinton’s Presidency

Hillary Clinton has promised to be tough on finance and pharmaceutical companies. So why do financial and healthcare stocks go up when the probability...

Employees of Large Companies Favor Hillary Clinton

Clinton received overwhelming support from workers in the banking, tech, and mobile industries. 98 percent of the total amount raised by workers at financial institutions...

Campaign Financing Capture Index: Donald Trump Keeps Losing Affection from Big Donors, While Clinton Maintains It

As of August 31, 31.5 percent of Hillary Clinton’s contributions come from donors who contributed more than $100,000. Over the last three indices calculated by...

Are Newspapers Captured by Banks? Evidence From Italy

The inaugural piece of a new ProMarket mini-paper series. Preamble In the intellectual debate there is a gap between academic papers and policy opinions, even those...

Who are the 30 Worst Brokers in America When Measured By Misconduct?

The ProMarket blog seeks to provide indexes that make markets work better. The data on brokers’ misconduct supplied by FINRA is very detailed, but...

Campaign Financing Capture Index: Historical Comparison Shows the Extent of Growth in Political Contributions From Big Donors

More than a third of total contributions raised by presidential candidates from both parties in the 2016 race come from donors who gave more...

LATEST NEWS

President-Elect Joe Biden and the Real Lessons of DuPont

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to...

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....

How Pfizer’s Vaccine Announcement Demonstrates the Political Power of Firms

By timing the disclosure of the results of its vaccine trial, Pfizer could have influenced the 2020 presidential election. This is worrisome...

The Useful Distraction of Section 230

How the red-herring of a politicized Section 230 and “conservative censorship” distracts from a bipartisan national privacy act.

Institution Man: How Corporations Came to Dominate the US Economy

In the first chapter of his book Transaction Man, Nicholas Lemann explores how Adolf Berle, author of The Modern Corporation and Private...