Annual Members Meeting 2008
- 10 - 11 April 2008
- •
- Barcelona, Spain
The ECGI's sixth General Assembly took place on Friday 11 April 2008 at the IESE Business School, Barcelona. The Annual Lecture was given by Professor Luigi Zingales, Robert C. McCormack Professor Entrepreneurship & Finance, University of Chicago Graduate School of Business. His presentation "Board Elections : Is Italy a Model for the Rest of Us?" and the panel discussion that followed were conduct under the Chatham House rule.
The Egon Zehnder International Prize was won by Daniel Ferreira, London School of Economics, CEPR and ECGI, Miguel Ferreira, ISCTE Business School and Clara Raposo, ISCTE Business School with:
Board Structure and Price Informativeness (ECGI Finance Working Paper No. 160/2007)
The Standard Life Investments Finance Prize was won by Rui Albuquerque, Boston University, CEPR and ECGI and Neng Wang Columbia Business School with:
Agency Conflicts, Investment, and Asset Pricing (ECGI Finance Working Paper No. 167/2007)
The De Brauw Blackstone Westbroek Law Prize was won by Sanjai Bhagat, University of Colorado at Boulder, Leeds School of Business, Brian Bolton, University of New Hampshire, Whittemore School of Business & Economics and Roberta Romano, Yale Law School, NBER with:
The Promise and Peril of Corporate Governance Indices (ECGI Law Working Paper No. 089/2007)
Information
10 April - Day 1
Dinner and Presentation of the 2008 ECGI Working Paper Series Prizes
11 April - Day 2
Annual General Meeting of the ECGI - IESE Business School, Barcelona
Break
Annual Lecture - Board Elections : Is Italy a Model for the Rest of Us?
Speakers:
Annual Lecture - Board Elections : Is Italy a Model for the Rest of Us?
Italy is known for its exquisite food, wonderful monuments, and sleek design. But it is not known for the quality of its corporate governance system and even less so for the quality of its laws protecting minority investors. Nevertheless, in Italy one of the most interesting experiments in corporate governance is taking place. A law introduced the requirement that at least one Board Member of every listed company be appointed by minority shareholders. Does this system work? While it is too early to be able to provide a systematic analysis, Professor Zingales will discuss costs and benefits of this system and the challenges ahead.
The lecture and the subsequent debate were conducted under the Chatham House rule.
Speakers
Trusting the Stock Market
We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being...
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The New Corporate Governance
In the last few years, there has been a dramatic increase in shareholder engagement on environmental and social issues. In some cases shareholders are...
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Political Determinants of Competition in the Mobile Telecommunication Industry
We study how political factors can shape competition in the mobile telecommunication sector. We show that the way a government designs the rules of the...
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What Purpose Do Corporations Purport? Evidence from Letters to Shareholders
Using natural language processing, we identify and categorize the corporate goals in the shareholder letters of the 150 largest companies in the United...
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Private Sanctions
We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of...
Read morePanel Discussion 2008
Moderator:
Panelists:
Panel Discussion 2008
Moderator
Panelists
Speakers
Presentations
Annual Lecture - Board Elections : Is Italy a Model for the Rest of Us?
Annual Lecture - Board Elections : Is Italy a Model for the Rest of Us?
Italy is known for its exquisite food, wonderful monuments, and sleek design. But it is not known for the quality of its corporate governance system and even less so for the quality of its laws protecting minority investors. Nevertheless, in Italy one of the most interesting experiments in corporate governance is taking place. A law introduced the requirement that at least one Board Member of every listed company be appointed by minority shareholders. Does this system work? While it is too early to be able to provide a systematic analysis, Professor Zingales will discuss costs and benefits of this system and the challenges ahead.
The lecture and the subsequent debate were conducted under the Chatham House rule.
Speakers
Companies Should Maximize Shareholder Welfare Not Market Value
What is the appropriate objective function for a firm? We analyze this question for the case where shareholders are prosocial and externalities are not...
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The Costs and Benefits of Financial Market Regulation
This paper revisits the controversy on regulation and applies its insights to the debate on corporate governance and mutual funds. The general result of...
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Exit vs. Voice
We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in...
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What Purpose Do Corporations Purport? Evidence from Letters to Shareholders
Using natural language processing, we identify and categorize the corporate goals in the shareholder letters of the 150 largest companies in the United...
Read more
The New Corporate Governance
In the last few years, there has been a dramatic increase in shareholder engagement on environmental and social issues. In some cases shareholders are...
Read more
Private Sanctions
We survey a representative sample of the U.S. population to understand stakeholders’ desire to see their firms exit Russia after the invasion of...
Read morePanel Discussions
Panel Discussion 2008
Panel Discussion 2008
Moderator
Panelists
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