Call For Papers: GCGC 2019

The fifth annual GCGC Conference will be hosted by Frankfurt University on 7 - 8 June 2019. The Conference Committee is inviting researchers to submit recent papers on corporate governance.  Deadline for submission is...
20 June 2018


Mon 18 June 2018

The Roundtable focused on loyalty shares as a legal solution for encouraging long-term ownership, a concept that is promoted by policy makers, including the European Commission, some institutional investors and issuers. This event was by invitation only. Institutional and Patron members were invited.

Wed 12 December 2018 > Thu 13 December 2018

This academic conference will focus on the theme of 'Differentail Voting Shares'. Attendance is by invitation only.

Fri 07 June 2019 > Sat 08 June 2019

The fifth annual GCGC conference will take place at Center for Financial Studies, Goethe University Frankfurt on 7 - 8 June 2019. The deadline for submissions is 15 September 2018. Attendance is by invitation only.

Featured papers

Cheap-Stock Tunneling Around Preemptive Rights

Corporate insiders may engage in tunneling—transactions to transfer value from outside shareholders to themselves. Reducing tunneling is corporate law’s most basic function, as fear of tunneling undermines entrepreneurs’ ability to raise capital from outside investors. Preemptive rights are the...

Jesse Fried
Holger Spamann
14 June 2018

Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales

Initial coin offerings (ICOs) may be a significant innovation in entrepreneurial finance. Blockchain-based digital assets offer cryptographic security and credible commitment devices, which may permit a broader range of individuals to invest in high-risk, high-reward new ventures, and enable...

Sabrina T. Howell
Marina Niessner
David Yermack
19 July 2018

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

As firms invest more resources in sustainable and socially responsible endeavors, it is important to know whether such investments reflect investor's preferences marketwide. Some investors will believe that an increase in resources directed towards sustainability is costly and belies the primary...

Samuel M. Hartzmark
Abigail B. Sussman
19 July 2018

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

There is a growing sense among academics and practitioners that common ownership—where two firms are at least partially owned by the same investor—is on the rise among publicly-held U.S. firms and that this could have important implications for corporate governance and anti-competitiveness,...

Erik P. Gilje
Todd Gormley
Doron Levit
19 July 2018

Working papers

Non-Shareholder Voice in Bank Governance: Board Composition, Performance and Liability

Starting from the well-evidenced fact that banks with shareholder-focussed corporate governance fared worse in the financial crisis than those without, this paper considers various initiatives and proposals to re-orient board rules in relation to...Read more

Paul Davies
Klaus Hopt
07 August 2018

The Law and (Some) Finance of Related Party Transactions: An Introduction

This paper is the introductory chapter of Luca Enriques and Tobias Tröger (eds.), The Law and Finance of Related Party Transactions (Cambridge University Press: forthcoming). Its goal is to sketch out the individual chapters’ contributions to the...Read more

Luca Enriques
Tobias Tröger
23 July 2018



Research Members

The research work that emanates from ECGI is undertaken by leading scholars around the globe. This important network of academics is at the very core of what ECGI does, drawing on the finest minds in academia from all over the world to tackle some of the most important issues that confront business and governments today.
Research Member
NBD Bancorp Assistant Professor in Business Administration, Harry Jones Research Scholar, Assistant Professor of Finance
University of Michigan
Research Member
Chris P. Dialynas Distinguished Service Professor Of Economics
The University of Chicago Booth School of Business
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Research Member
Assistant Professor
Universitat Pompeu Fabra and Barcelona GSE

Patron Members

The ECGI Patron Members provide regular and long-term support for Academic Research through their contributions to the European Corporate Governance Research Foundation (ECGRF). Their philanthropic donations stimulate the production of research studies and other academic work of excellence in corporate governance.

Institutional Members

The Institutional Members of ECGI provide a vital connection between the academic world and the policy and practitioner aspects of corporate governance. These members recognise the importance of evidence-based research in developing their corporate governance policies and seek to continuously improve the standards of corporate governance.