Working papers

Working papers

The ECGI Working Paper series is a repository of academic research papers produced by ECGI Research members consisting of highly qualified and renowned academics from across the globe. The series is managed by a team of ECGI Editors and the papers focus on Corporate Governance topics in both Law and Finance fields.

New Working Papers

Who’s Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives

We discuss the challenges in quantifying common ownership and derive a measure that captures the extent to which overlapping ownership structures shift managers’ incentives to internalize externalities. A key feature of the measure is that it...Read more

Erik P. Gilje
Todd Gormley
Doron Levit
19 July 2018

Governance through Shame and Aspiration: Index Creation and Corporate Behavior

After decades of both de-prioritizing shareholders' economic interests and low corporate profitability, Japan introduced the JPX400 in 2014. The index highlighted the country's "best-run" companies by annually selecting the 400 most profitable...Read more

Akash Chattopadhyay
Matthew D. Shaffer
19 July 2018

Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows

Examining a shock to the salience of the sustainability of the US mutual fund market, we present causal evidence that investors marketwide value sustainability. Being categorized as low sustainability resulted in net outflows of more than $12...Read more

Samuel M. Hartzmark
Abigail B. Sussman
19 July 2018
E.g., 2018-07-23
E.g., 2018-07-23

Pages