The Economics of Higher Purpose
We develop a theory of how the intersection of business goals and the pursuit of ?higher purpose?? something that produces a non-pecuniary social...
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Shareholder Voice and Corporate Purpose: The Purposeless of Mandatory Corporate Purpose Statements
In his 2018 book, Prosperity, Professor Colin Mayer puts forward the proposition that a single, “embarrassingly simple” change to corporate law...
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Compliance Gatekeepers
What determines the effectiveness of corporate compliance programs, and who is accountable when they fail? Scholars and policymakers tend to answer...
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Does Enlightened Shareholder Value Add Value?
Unlike shareholder value maximization (SV), which merely calls on corporate leaders to maximize shareholder value, enlightened shareholder value...
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The Emergence of Welfarist Corporate Governance
Corporate governance may be on the verge of entering a new stage. After the managerialism that dominated the view of the corporation into the 1970s and the...
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The Purposive Transformation of Corporate Law
What is the purpose of a corporation? This fundamental question is as old as corporate law itself and traditionally it is asked with reference to the...
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The Past, Present and Future of Corporate Purpose
Corporate purpose is currently hotly debated amidst much speculation that American public companies are forsaking shareholder centrality in favor of...
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Personal and Organizational Higher Purpose, Corporate Governance and Shareholder Value: Survey Results
This paper reports the findings of a recent survey of 1019 individuals to learn about their commitment to and perceived value from personal and...
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Higher Purpose, the Greater Good and Finance
Organizational higher purpose is gaining increasing traction in both research and policy discussions about the (desired) role of corporations in...
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Purpose, Profit and Social Pressure
We develop a model in which there are firms and employees who care about profit-sacrificing higher purpose (HP) and those who do not. Firms and employees...
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The Governance of Corporate Purpose
This paper was written for a Festschrift in honour of Rolf Skog. Concepts of corporate purpose which have risen to the fore recently emphasize a point...
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For Whom is the Corporation Managed in 2020?: The Debate over Corporate Purpose
A high profile public debate is taking place over one of the oldest questions in corporate law, namely, “For whom is the corporation managed?” In...
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