The Millennial Corporation: Strong Stakeholders, Weak Managers
The most important phenomenon in the corporate world today is the swift and dramatic rise of the Environmental, Social, and Governance (“ESG”)...
Read moreThe most important phenomenon in the corporate world today is the swift and dramatic rise of the Environmental, Social, and Governance (“ESG”)...
Read moreESG ratings deliver the short-hand evaluation that investors need to incorporate environmental, social, and governance aspects in their...
Read moreWhat determines the effectiveness of corporate compliance programs, and who is accountable when they fail? Scholars and policymakers tend to answer...
Read moreMarket concentration and weak competition do not just lead to lower efficiency, but also result in corporate profits flowing primarily to wealthy...
Read moreThis paper measures diversity, equity, and inclusion (DEI) using proprietary data on survey responses used to compile the Best Companies to Work For...
Read morePerhaps the most important corporate law debate over the last several years concerns whether directors and executives should manage the corporation to...
Read moreA common argument against divestment is that it discards voting power and has a small effect on stock prices. We argue that divestment is a statement of...
Read moreThe SEC’s efforts to standardize climate disclosure have revealed deep divides among the public and among corporate and securities law scholars...
Read moreCorporate short-termism, i.e., corporations sacrificing long-term value for short-term profits, has received a lot of attention in the corporate...
Read moreWhat do asset managers believe regarding the financial performance of Environmental, Social, and Governance (ESG) investment strategies? We address...
Read moreUsing granular barcode-level sales data from retail stores, we show that environmental and social ratings are positively related to local sales,...
Read moreThe paper studies a natural experiment in responsible investment conducted by the Japanese Government Pension Investment Fund (GPIF). In 2018 GPIF...
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