The European Corporate Governance Institute Meets in Berlin

ECGI held its Annual Members’ Meeting in Berlin on 3 - 4 May, bringing together international academics and practitioners in the field of corporate governance for a programme that included a panel, a debate, a dinner, a general assembly, a lecture and a prize-giving, hosted by ESMT Berlin...
5 May 2018


Fri 01 June 2018 > Sat 02 June 2018

The fourth annual GCGC conference will take place at Harvard University on 1 -2 June 2018. We are no longer accepting submissions for this conference. Attendance is by invitation only.

Mon 18 June 2018

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

Featured papers

How Investors Can (and Can't) Create Social Value

Most investors have a single goal: to earn the highest financial return.  These socially-neutral investors maximize their risk-adjusted returns and would not accept a lower financial return from an investment that also produced social benefits.  An increasing number of socially-motivated...

Paul Brest
Ronald Gilson
Mark A. Wolfson
11 April 2018

Institutional Investor Voting Behavior: A Network Theory Perspective

It is commonly viewed that institutional investors have insufficient incentives to cast informed votes because they compete on relative performance. If BlackRock invests in the monitoring of one of its portfolio companies, it will become relatively less competitive vis-à-vis the other...

Luca Enriques
Alessandro Romano
11 April 2018

Career Risk and Market Discipline in Asset Management

The compensation of employees in asset management is typically much higher than that of non-finance employees with similar education, and tends to be more unstable. In principle, the benefit of such a high compensation may be offset, at least partly, by the danger of possibly permanent career...

Andrew Ellul
Marco Pagano
Annalisa Scognamiglio
16 April 2018

Shareholder Sustainability Activism in the Netherlands

Companies have a large impact on our society and play a large role in achieving sustainable goals. Today’s evidence suggests that also shareholders are becoming more aware of the importance of corporate sustainability in the US, while previous research stated that shareholder primacy has a...

Anne Lafarre
Christoph Van Der Elst
16 April 2018

Working papers

Procedural and Substantive Review of Related Party Transactions (RPTs): The Case for Non-Controlling Shareholder-Dependent (NCS-Dependent) Directors

In publicly traded companies, related party transactions (RPTs) are an obvious vehicle for shareholder expropriation. However, they may also be efficient, particularly when they are motivated by transaction cost savings. This paper aims to...Read more

Alessio Pacces
17 May 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
Associate Professor of Finance
Southern Methodist University - Cox School of Business
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Research Member
Gösta Olsson Professor of Finance
Stockholm School of Economics
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Research Member
Assistant Professor
IESE Business School
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Research Member
Associate Professor of Finance
Cass Business School

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.