ECGI Annual Members’ Meeting 2019
- 24 October 2019
- •
- IESE Business School, Barcelona
** Click here to access the summary report from the event **
** Click here to access the ECGI 2018 Annual Report **
The 2019 ECGI Annual Members' Meeting took place at IESE Business School, Barcelona on 24 October 2019.
To access the agenda and papers for the AGM (24 October 2019) please click here. Please note that you must be logged in to access these documents (members only). To log in, please enter your username (usually your email address) and your password in the top right of the website. If you do not know your password, please select the reset password option and follow the instructions.
If you would like to become a member of ECGI, please click here to find out more.
This event was co-sponsored by IESE Business School, the European Corporate Governance Institute (ECGI) and the European Corporate Governance Research Foundation (ECGRF). It brought together senior academics and thought-leaders in business to discuss a range of important topics.
This year, the event preceded the 2019 IESE - ECGI Conference which took place on 25-26 October. ECGI members were also invited to attend this aspect of the event which was not open to the public.
Open to the public (24 October):
ECGI Annual Lecture
Panel Discussion
Prize Sessions
ECGI Members only:
ECGI General Assembly Meeting (24 October)
Members Dinner (24 October)
IESE - ECGI Conference (25-26 October)
To become an ECGI member visit: https://ecgi.global/content/become-member
Supported by:
Information
Thursday, 24th October 2019
Guest Lunch: Invited guests from the ECGI network (patron members, board members, trustees, institutional members, prizewinners, sponsors and selected guests)
Registration (members)
Welcome and Introduction
Speakers:
ECGI General Assembly Meeting (Members only)
Registration (non-members) / Coffee break
Welcome
Speakers:
ECGI Annual Lecture “The Economics of Firm Culture”
Speakers:
ECGI Annual Lecture “The Economics of Firm Culture”
Since 2006, the ECGI has organised a yearly lecture at the time of its Annual General Assembly. These lectures, given by prominent scholars, are open to the public and address a topical governance issue. On some occasions, a debate takes place instead of a lecture. Details of past lectures are available here:
https://ecgi.global/content/ecgi-annual-lecture
Speakers
Conference Documents
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...
Read morePanel Discussion
Moderator
Panelists
ECGI Working Paper Prize Sessions:
Aberdeen Standard Investments (Finance Prize): Investor Ideology
Speakers:
Aberdeen Standard Investments (Finance Prize): Investor Ideology
Speakers
Conference Documents
Investor Ideology
We estimate institutional investor preferences from proxy voting records. The W-NOMINATE method maps investors onto a left-right dimension based on...
Read more
Cleary Gottlieb Hamilton & Steen (Law Prize): Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Speakers:
Cleary Gottlieb Hamilton & Steen (Law Prize): Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Speakers
Conference Documents
Will Corporations Deliver Value to All Stakeholders?
Supporters of stakeholder governance advocate relying on corporate leaders to use their discretion to protect stakeholders, and they seem to take...
Read more
The Perils and Questionable Promise of ESG-Based Compensation
With the rising support for stakeholder capitalism and at the urging of its advocates, companies have been increasingly using environmental, social,...
Read more
Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Index funds own an increasingly large proportion of American public companies. The stewardship decisions of index fund managers—how they monitor,...
Read more
How Twitter Pushed Stakeholders Under The Bus
This study focusses on the acquisition of Twitter by Elon Musk. Our analysis indicates that when negotiating the sale of their company to Musk,...
Read more
Stakeholder Capitalism in the Time of COVID
This Article tests the claims of supporters of stakeholder capitalism (“stakeholderism”) in the context of the COVID pandemic. Supporters of...
Read more
The Specter of the Giant Three
This Article examines the large, steady, and continuing growth of the Big Three index fund managers—BlackRock, Vanguard, and State Street Global...
Read more
Does Enlightened Shareholder Value Add Value?
Unlike shareholder value maximization (SV), which merely calls on corporate leaders to maximize shareholder value, enlightened shareholder value...
Read more
Closing Remarks
Reception & Dinner
Speakers:
Reception & Dinner
Speakers
Speakers
Presentations
Welcome and Introduction
Speakers
Welcome
Welcome
Speakers
ECGI Annual Lecture “The Economics of Firm Culture”
ECGI Annual Lecture “The Economics of Firm Culture”
Since 2006, the ECGI has organised a yearly lecture at the time of its Annual General Assembly. These lectures, given by prominent scholars, are open to the public and address a topical governance issue. On some occasions, a debate takes place instead of a lecture. Details of past lectures are available here:
https://ecgi.global/content/ecgi-annual-lecture
Speakers
Conference Documents
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...
Read more
Aberdeen Standard Investments (Finance Prize): Investor Ideology
Aberdeen Standard Investments (Finance Prize): Investor Ideology
Speakers
Conference Documents
Investor Ideology
We estimate institutional investor preferences from proxy voting records. The W-NOMINATE method maps investors onto a left-right dimension based on...
Read more
Cleary Gottlieb Hamilton & Steen (Law Prize): Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Cleary Gottlieb Hamilton & Steen (Law Prize): Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Speakers
Conference Documents
The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008
The standard narrative of the meltdown of Bear Stearns and Lehman Brothers assumes that the wealth of the top executives of these firms was largely wiped...
Read more
Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
Index funds own an increasingly large proportion of American public companies. The stewardship decisions of index fund managers—how they monitor,...
Read more
The Perils of Small-Minority Controllers
This Article contributes to the long-standing and heated debate over dual-class companies by placing a spotlight on a significant set of dual-class...
Read more
How Twitter Pushed Stakeholders Under The Bus
This study focusses on the acquisition of Twitter by Elon Musk. Our analysis indicates that when negotiating the sale of their company to Musk,...
Read more
Will Corporations Deliver Value to All Stakeholders?
Supporters of stakeholder governance advocate relying on corporate leaders to use their discretion to protect stakeholders, and they seem to take...
Read more
How Much Do Investors Care About Social Responsibility?
Perhaps the most important corporate law debate over the last several years concerns whether directors and executives should manage the corporation to...
Read more
Dancing with Activists
An important milestone often reached in the life of an activist engagement is entering into a “settlement” agreement between the activist and the...
Read more
The Specter of the Giant Three
This Article examines the large, steady, and continuing growth of the Big Three index fund managers—BlackRock, Vanguard, and State Street Global...
Read more
Reception & Dinner
Reception & Dinner
Speakers
Panel Discussions
Panel Discussion
Panel Discussion
Moderator
Panelists
Followed by Q&A
Followed by Q&A
Moderator
Panelists
Investor Ideology
We estimate institutional investor preferences from proxy voting records. The W-NOMINATE method maps investors onto a left-right dimension based on...
Read more
Ownership Diversification and Product Market Pricing Incentives
We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and...
Read more
Overlapping Ownership, R&D Spillovers, and Antitrust Policy
This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with overlapping ownership. We show that overlapping...
Read more
Revisiting the Anticompetitive Effects of Common Ownership
We use data from the U.S. airline industry to test the hypothesis, consistent with the general equilibrium oligopoly model of Azar and Vives...
Read more
Free Entry in a Cournot Market With Overlapping Ownership
We examine the effects of overlapping ownership in a Cournot oligopoly where existing firms with overlapping ownership decide whether to enter a new...
Read moreFollowed by Q&A
Followed by Q&A
Moderator
Panelists
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