Wed 05 June 2019

This conference will focus on the role of ESG (Environmental, Social and Governance) considerations in the management of public companies and the investment priorities of asset managers...

Mon 10 June 2019

The Roundtable will focus on the reasons and implications of fewer companies going public. The steep decline in initial public offerings in the U.S. has raised concerns about reduced opportunities for...

Fri 05 July 2019

Corporations, and other forms of business associations, have been the subject of intense study including their history, governance, and obligations to stakeholders and the public at large...

Featured papers

Which Related Party Transactions Should Be Subject to Ex Ante Review? Evidence from Germany

With its rules on related party transactions (RPTs), the amended EU Shareholder Rights Directive introduces a novel ex ante review of suspicious transactions to many continental jurisdictions. German law, for instance, has traditionally been adhering to a very different regulatory strategy for...

Andreas Engert
Tim Florstedt
12 March 2019

Does Bankruptcy Risk Increase Value? Puzzles and Diversification

We usually compare the market price of different companies thinking we are comparing their fundamental values. Following this practice, financial analysts believe that diversification destroys value since the price of diversified firms (“conglomerates”) is 11% lower than the price of similar...

Michela Altieri
Giovanna Nicodano
13 March 2019

Sticking around Too Long? Dynamics of the Benefits of Dual-Class Voting

Both practitioners and academics generally have a dim view of dual-class share structures. For example, when Snap Inc. was preparing for its initial public offering (IPO) in 2017, CalPERS and other institutional investors harshly criticized the company’s move to create a new share class with no...

Hyunseob Kim
Roni Michaely
28 January 2019

Corporate Capture of Blockchain Governance

All blockchains have rules that govern their operations. As blockchains evolve they may need to change their rules. Blockchain governance refers to the system in place through which decisions regarding the evolution of the blockchain are made. The question of blockchain governance is at the...

Daniel Ferreira
Jin Li
Radoslawa Nikolowa
04 February 2019

Working papers

The Politics of CEOs

CEOs of public companies have influence over the political spending of their firms, which has been attracting significant attention since the Supreme Court decision in Citizens United. Furthermore, the policy views expressed by CEOs receive...Read more

Alma Cohen
Moshe Hazan
Roberto Tallarita
David Weiss
14 May 2019

Who Falls Prey to the Wolf of Wall Street? Investor Participation in Market Manipulation

Manipulative communications touting stocks are common in capital markets around the world. Although the price distortions created by so-called “pump-and-dump” schemes are well known, little is known about the investors in these frauds. By...Read more

Andreas Hackethal
Christian Leuz
Steffen Meyer
Maximilian Muhn
Eugene Soltes
15 April 2019

Accounting for Financial Stability: Lessons from the Financial Crisis and Future Challenges

This paper investigates what we can learn from the financial crisis about the link between accounting and financial stability. The picture that emerges ten years after the crisis is substantially different from the picture that dominated the...Read more

Jannis Bischof
Christian Laux
Christian Leuz
15 April 2019



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.
Real name: 
Research Member
Professor of Empirical Practice
Harvard Law School
Research Member
Professor of Corporate Law and Financial Regulation
University College London - Faculty of Laws
Research Member
Professor of Law
Paolo Baffi Center on Financial Regulation, Bocconi University Law Department

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.